|
|||||
 |
Dennis Norman You may want to consider possible legal issues before deciding to “walk away” Homeowners who are considering “walking away” from their home to avoid making their mortgage payment need to know that their mortgage company may try to file a lawsuit to recover the amount owed on the home. In addition, homeowners who sell their [...] Dennis Norman Depending on which estimate you believe, somewhere between one-third and one-half of the homeowners with a mortgage in the U.S. owe more on their homes than their homes are currently worth. This has lead to an unprecedented amount of short-sales and in many cases, a lender “forgiving” you of the short-fall (the amount [...] Dennis Norman Freddie Mac, Fannie Mae and CitiMortgage give borrowers a break over the holidays… Within the past day Freddie Mac and Fannie Mae have both announced that they are suspending evictions from December 19, 2009 through January 3, 2010 on foreclosed homes, two families and four families, that they hold. CitiMortgage and CitiFinancial announced yesterday a [...] Dennis Norman Last week the Treasury Department announced the Home Affordable Foreclosure Alternatives Program (HAFA), the latest program under the Home Affordable Modification Program (HAMP), designed to offer alternatives to homeowners facing foreclosure. THE HAFA PROGRAM: The Home Affordable Foreclosure Alternatives Program provides financial incentives to loan servicers as well as borrowers who do a short-sale or a [...] To alleviate some suffering by homeowners, the Obama Administration introduced the “Making Homes Affordable” plan last March. Unfortunately, the plan has not yet had the intended effect. Article by the Grand Law Firm Economists debate whether or not the country is actually currently in a recession. Some say that there are positive signs that we have reached [...] Dennis Norman Unfortunately a record number of homeowners continue to face the scary prospect of losing their homes as a result of the declining real estate market and economy. I have done several prior posts about various resources available to such people however according to the Consumer Credit Counseling Service (CCCS) of Greater Atlanta, many homeowners [...] Dennis Norman A surge in litigation tied to real estate appraisals, loan modifications and foreclosures contributed to a 54 percent increase in mortgage-related lawsuits, according to the second quarter Mortgage Litigation Report from MortgageDaily.com. During the second quarter, 125 cases were tracked, jumping from an already active 81 first quarter cases. The second quarter of 2008 had just 42 [...] Dennis Norman Over the past few months I have written a couple of articles with information and tips on how to avoid falling victim to foreclosure rescue or loan modification scams. As we see record numbers of foreclosures and people from all walks of life struggling to keep their homes, there have been in some cases unscrupulous [...] Dennis Norman By: Dennis Norman Back in April I first did a post on avoiding foreclosure and loan modifcation scams but record numbers of homeowners facing foreclosures and foreclosure scams on the rise I thought it was worth talking about again. The Federal Reserve , in a public service announcement, published “5 Tips for Avoiding Foreclosure Scams”: Work only [...] Dennis Norman Over the past few months many people renting or leasing a home have had a rude awakening when they suddenly are told to vacate their home as a result of the property owner losing the home in foreclosure. Many times tenants are unaware of the owners plight prior to this so it leaves [...] First off, my usual disclaimer…I am not an attorney and this is not intended to be legal advice or a legal opinion. Dennis Norman Now that we have that out of the way lets talk about options that may be available to you if you are one of the 20% of homeowners that a recent study [...] According to the Metropolitan Foreclosure Market Report for first quarter 2009 issued by RealtyTrac(R) foreclosures for the quarter are up almost 24% from a year ago nationwide. The twenty six metro areas with the highest rates of foreclosure are all within only four states: California, Florida, Nevada and Arizona. By: Dennis Norman Today the The Office of the Comptroller of the Currency issued a Consumer Advisory. The Advisory contains consumer tips for avoiding mortgage modification scams and foreclosure rescue scams. It is a shame that while a consumer is dealing with financial difficulties and facing losing their home in foreclosure that they have to also worry about [...] Dennis Norman Over the past few days I have heard stories of people that have lost their homes through foreclosure and then, as if that was not enough, were told by their tax preparer that they owed thousands of dollars in taxes for “forgiven debt”. As bad as this sounds it is reality…or at least was reality. Let me give [...] By: Dennis Norman Last Friday the Mortgage Bankers Association announced that almost 7% of the homeowners in America with a mortgage were behind in payments on their loan which is a record high. The number of homeowners currently somewhere in the foreclosure process is also at a record high according to the Mortgage Bankers Association quarterly [...] By: Dennis Norman Today many people that never thought they would find themselves in this plight are now facing the potential of losing their homes to foreclosure. Aggressive lenders, creative loans and a super charged real estate market for about 5 years until sometime in 2006 all helped put many people in a difficult position with [...] |
|
|||
|
Connecting St. Louis Information St. Louis The author and owner of this site are providing the information on this web site for general information only. The information on this site does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. None of the tax information on this web site is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. The information is provided as is, with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose Powered by WordPress & the Atahualpa WP Theme by BytesForAll. Now with Tutorials & Support |
|||||
Most Commented on Posts