Pay your debts through Foreclosure
There is a way to take advantage of your mortgage lender’s incompetence and inefficiency. All you have to do is decide that you are willing to let your lender foreclose on your house, …
Best mortgage debt solutions being resisted
Lenders are forcing foreclosures rather than making principle reductions:
Congressman Barney Frank, Chair of the House Financial Services Committee has argued quite persuasively that the only way we are going to end the problem …
Short Sales get boost with new rules from administration
A “short sale” occurs when the homeowner sells their home at current market value and the lender agrees to accept that amount in full payment of a home mortgage that is typically much …
Foreclosure prevention program adds “cram downs” and other features to help homeowners
Since the beginning of this housing crisis many observers have argued that it will never be solved until lenders were willing — or were forced — to “cram down” the principle on the mortgages to …
Avoid foreclosure prevention scams
The Better Business Bureau reports that foreclosure prevention is another of the top ten scams of 2009
There are many companies making many claims about helping you prevent foreclosure on your home. No matter how good …
“Short sale” versus short walk
By one expert’s estimate 5.3 million US homes have a mortgage that is more than 20% higher than their home’s value and 2.2 million of those are “under water” by more than 50%. It is …
Foreclosure problem turned into lose/lose by lenders
The headline in the Wall Street Journal said “flippers make a comeback.” The story told of people going to foreclosure auctions to buy and quickly resell houses at a profit. They can do this because …
“Under water” mortgages hit new high. Consider a “short sale”!
As the Wall Street Journal Reports, nearly one in four (23%) homes now have mortgages that exceed the value of their houses. They are “under water.” Of the 10 million-plus homes that are in this …
More “cram downs” stopping foreclosures, but same players are making money on them
The same people who sold you a subprime mortgage you couldn’t afford are now calling many homeowners threatened with foreclosure to make an offer they can’t refuse. They tell homeowners that they have bought the …
Permanent mortgage loan modifications stymied by paperwork
The administration has announced that its Making Home Affordable program, its major attempt to prevent wholesale foreclosures, has signed up almost 20% of those eligible. 650,000 borrowers have started a “trial loan modification” as part …