July 2010

After a foreclosure or a short sale, some people might never want to bother with another home purchase. On the other hand, lenders are hearing from more and more former homeowners who can’t wait for the next opportunity to buy.

Desperate for help, the Gaineses in July 2009 contacted Home Legal Source, a Carlsbad, Calif.-based law firm that claimed it assisted clients with loan modifications. They gave Home Legal Source $2,000 upfront, spreading the payment out in three installments. At [...]

ROSEVILLE, CA – A well-known mortgage company that offered a money-back guarantee for loan modifications has notified its clients that it is going out of business and will not honor any refunds. Pro City Mortgage had advertised heavily on Sacramento [...]

Some banks have a special technique for dealing with business borrowers who can’t repay loans coming due: Give them more time, hoping things improve and they can repay later. Banks call it a wise strategy. Skeptics call it “extend and [...]

Yvonne McBride Acosta may indeed have her loan modification.

Beginning Monday, Palm Beach County homeowners facing foreclosure will be guaranteed a chance to negotiate a different ending with their lenders as the courts try to reduce a foreclosure overload.

LANSING (WKZO) — Governor Granholm has announced a 154-million dollar fund to help Michigan homeowners who are struggling to make their mortgage payments, and get them over the hump to avoid foreclosure. The Hardest Hit Homeowners Fund is designed to [...]

NASHVILLE, Tenn. — Whether a homeowner is on the brink of foreclosure or just looking for a deal on a house, prospective buyers may want to familiarize themselves with the term short-sale. It can allow buyers to take advantage of [...]

Question: I bought a home in Goodyear three years ago during the “boom” period. My boyfriend has been helping me make the mortgage payments, but when he lost his job six months ago I fell behind. After I received a [...]

Q. Wells Fargo, my lender, is offering me a modification forbearance agreement, and my monthly payment are $2 less per month, for a three-month trial. What is a modification forbearance agreement? — Confused

If you’re a Maryland homeowner behind on your mortgage, you now have the right to ask for mediation when your lender starts foreclosure proceedings. This rule change kicked in last Thursday, so it’s too early — way, way too early [...]

This bit gave some good information on whether you have to move out right away: Question: OK, my rental was sold as a foreclosure. Do I have to move out immediately?

Frederick investigators are considering whether the possibility of foreclosure may have influenced the actions of a Frederick County man who shot and killed himself at the scene of a fire Monday in the 14600 block of Black Ankle Road.

On Friday, July 2, President Barack Obama signed into law a three-month extension of the Homebuyer Tax Credit. The extension was expected, especially considering the backlog of.approved contracts sitting at many lenders’ offices.

“Not Paying the Mortgage, and Not Even Worrying.” That’s a recent headline describing the approach of some underwater homeowners to their mortgage problems.

 Owing more on your mortgage than your house is worth may seem like a bad investment. But the alternative – choosing to default on your mortgage even if you can afford the monthly payments – will take a significant toll [...]

That issue is key — banks that can’t prove they own a loan can’t legally foreclose. At times, lenders and law firms have been chastised for taking short cuts to gloss over the ownership issue. Complicating matters is that most [...]

You’ve been paying your rent dutifully month after month and even started a little garden in the backyard. Now, there’s a notice on the front door saying your place is in foreclosure. Even though you’re a renter, you’ve now been [...]

Kima uncovered a scam preying on our area’s Hispanic community. They tell families they can save their homes, with little to no money up front. But these loan modification companies end up being a con. And we found out it [...]

In February, I received another offer on my house. We were advised by the bank that they did not have an open file on me and I would have to start over. Paperwork was submitted a third time.

Q: Are delinquent owners allowed to still use our facilities (pool and common areas) if they do not pay maintenance and are in foreclosure from the association? These owners also bring their guests, several at a time, and enjoy themselves [...]