Tag Archive: foreclosure defense ny

Dec 10

Tax Deductions and their Impact on the Mortgage Sector

Tax Deductions and their Impact on the Mortgage Sector

In order to reduce the budget deficits, both democratic and republican parties seem to agree that eliminating certain tax breaks is the way to go. Homeowners are allowed to deduct mortgage interest from their yearly tax. When the tax cuts come under congress’ microscope, mortgage interest deduction will most likely be discussed. The authorities may …

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Dec 07

Mortgage Principal Reductions

Mortgage Principal Reduction

Apart from the ongoing debate about mortgage interest deductions; a discussion on mortgage principal reductions has also resurfaced. The idea was put forward earlier this year and was never implemented (apart from a few cases in recent months). In the next few months, the idea will either be implemented or completely rejected, settling the debate …

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Dec 03

Getting Help With Foreclosure

foreclosure-help

A recent study stated that about 50% homeowners do not seek help when behind on their payments until it’s too late and they receive a foreclosure notice. The results of this study didn’t come as a surprise to us, as most of the cases we handle belong to homeowners that waited and waited to seek …

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Nov 23

What to Do If You Have Been Scammed

Identify Foreclosure Scams

If a mortgage scam artist or a foreclosure scam company has already taken advantage of your situation and scammed you, you have to notify the authorities. You may have signed your deed over to a company or you may have signed legally binding contracts that appear bullet proof, but the authorities can help you in …

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Nov 15

Homeowners Disappointed with the Independent Foreclosure Review Program

An estimated 4.4 million homeowners were deemed eligible for the Independent Foreclosure Review that provides  a chance to have an “independent” third party review their foreclosures. After numerous claims of mistakes and abusive servicing practices, bank regulatory authorities and mortgage companies came up with the program to ensure transparency in foreclosure. However, the results have …

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