In many states, if your house is foreclosed or if you turn it into the lender and it is sold for less than the mortgage, you are still obligated to pay the balance of the debt. [...]; . . . → Click Here to Read the Full Article
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 Comments are closed  Banks, Debt, Foreclosure, Mortgages, Regulations  Debt, debt elimination, homeownership, mortgage, mortgage debt, short sale The truth is that, in most cases, foreclosure prevention activity fails. The loan servicing company doing the foreclosure has no skin in the game. They do not care how much of the [...]; . . . → Click Here to Read the Full Article Comments are closed Foreclosure, Mortgages Bankruptcy, foreclosure counselors, foreclosure prevention, home loans, HUD help, mortgage negotiation It looks like Bush will cave in and sign the compromise foreclosure prevention bill passed by the House and sent to the Senate. For those who are in foreclosure — or who may be [...]; . . . → Click Here to Read the Full Article Comments are closed Foreclosure, Mortgages, Regulations avoid foreclosure, Cram down, Foreclosure, house under water, mortgage, mortgage payments We’ve all seen the ads on TV. “Got trouble with the IRS? Our professional counselors — many of them former IRS agents — can fix it for you. Call now.” Turns out that it’s not so [...]; . . . → Click Here to Read the Full Article Comments are closed Avoiding Scams, Debt, Debt management, Regulations Debt, debt relief, delayed tax payment, IRS, JK Harris, late taxes, tax counseling, tax debt relief, taxpayer advocate One of the most important payment terms on your credit card is the deadline for payment. Even if you are a person who pays the whole balance every month – depending on your balance – [...]; . . . → Click Here to Read the Full Article Comments are closed Credit cards, Debt management bill deadline, bills, cc balance, credit card, credit card interest payments, late fees, late payments The New York Times has started a series on debt, and the first issue contains some discouraging stats. The liberalization of lending rules has, over the years, created a nation of serious debtors. Today, [...]; . . . → Click Here to Read the Full Article Comments are closed Bankruptcy, Credit cards, Debt management, Mortgages Bankruptcy, credit card debt, mortgage debt, student debt The Wall Street Journal reports that private mortgage insurers are adding more and more areas to their list of “declining markets.” If you live in one of these markets (like Chicago) you will have [...]; . . . → Click Here to Read the Full Article Comments are closed Banks, Mortgages, Regulations down payments, FHA, home loans, housing market, mortgage insurance If the amount you owe a creditor is low (certainly if it is under $1,000), and it is way past due, the best thing for you to do could be to send a “cease and desist” [...]; . . . → Click Here to Read the Full Article Comments are closed Credit, Credit rating, Debt collection cease and desist, collection agency, creditor, old debt, small debt The subprime market has disappeared, but just in case banks ever get the idea that they will like to return to making high rate mortgage loans, the Federal Reserve has some new rules they will have [...]; . . . → Click Here to Read the Full Article Comments are closed Banks, Mortgages, Regulations Federal Regulation, higher priced loans, mortgage market, mortgage regulations, Subprime loan, Subprime regulations If your mortgage is in trouble, there are many different things you can do. Bankruptcy and Cram-downs are the two most likely to help. Bankruptcy is one of the best options out there for this situation, [...]; . . . → Click Here to Read the Full Article Comments are closed Bankruptcy, Foreclosure, Mortgages Bankruptcy, cram-downs, Foreclosure, homeowner, mortgage |
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