Tag Archive: loan modification florida

Jan 09

Mortgage Rate Prediction for 2013

2013MortgagePredictions

Fixed rate loans have been predicted to rise to 4.5% by the end of 2014. According to the October forecast by the MBA, the mortgage rates will stay fairly consistent throughout the next couple of years and will make a slow progression to 3.8% at the end of the year. In 2013, the rates have …

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Trial Modification and Refinance Can Lead to Foreclosure

Trial Loan Modification

Homeowners that never missed a payment are facing foreclosure according to recent news stories published in MPR News and MSNBC. According to MPR News, John Chun refinanced his house in 2006 at an adjustable rate, without realizing that the rate was adjustable. This resulted in an increase in mortgage payments to the point where the …

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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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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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