Dec 07
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 …
Nov 23
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 …
Nov 15
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 …
Nov 02
Home Affordable Modification Program (HAMP) is a program initiated by the Obama administration in order to help homeowners who are employed, but are still struggling with their payments. At first there was much debate about the program within the financial and political sector, but ever since its introduction, HAMP has proven itself to be a …
Oct 29
Our series continues by exploring the topic of mortgage forbearance and the information homeowners should know when requesting forbearance. Homeowners facing imminent foreclosure can request their lending financial institution to delay the foreclosure, and can catch up with their payments within an agreed upon time frame in order to avoid the foreclosure altogether. The delaying of the …
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