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 …

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 …

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 …

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 …

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 …

Fannie Mae has just announced a “deed for lease” program that will allow people who have been unable to arrange a mortgage modification that works, to if they wish, turn over their deed for a …

The elephant in the living room of this recession is the huge number of mortgages that are in trouble — or going to be in trouble –  because of increased interest rates, layoffs, and other …

As I wrote in my last BLOG entry, the new administration foreclosure prevention program encourages lenders to reduce mortgage principle by up to 30% (called a “cram down”) in order to bring payments down to …

If your mortgage is held or insured by the Federal Housing Administration (your servicer will know) you may now be able to get a reduction in mortgage principle of up to 30%, at least for …

One of the more disgusting practices common in the mortgage market is the special incentives many lenders pay to mortgage brokers who convince you to take a mortgage at an interest rate higher than you …