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Foreclosure Help

Many mortgage modifications push payments …. higher

Tens of thousands of financially strapped homeowners who have asked lenders to lower their mortgage payments are instead winding up with higher monthly payments and larger debts on their homes.

Homeowners who were hoping for lower payments are discovering to their dismay that lenders roll late fees, back taxes or other costs into the principal, sometimes [...]

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Free legal aid available for low-, middle-income homeowners facing foreclosure in Washington

by Moe Bedard

The Washington State Bar Association has launched a program to provide free legal help to low- and middle-income people in danger of losing their homes to foreclosure.
Homeowners who call a toll-free number will be referred to volunteer attorneys in their communities who are trained to deal with foreclosure-related issues.

The bar association started recruiting and training [...]

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Emergency mortgage assistance programs for homeowners

by Moe Bedard

Millions of homeowners are looking for immediate help to stop foreclosure. They just do not have time to play games for months on the phone and they need legitimate emergency mortgage assistance programs NOW!

If you came across this blog, the good news is that I have the most current list of available free services that [...]

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Can all homeowners get free foreclosure help?

by Moe Bedard

There has been a great deal of negative press regarding paid foreclosure assistance and in particular, loan modifications.
The media has taken the loan modification ball and they are sounding the TV trumpets, mis-informing consumers by the millions, “DON’T PAY FOR LOAN MODIFICATION ASSISTANCE!” “If anyone asks for money to help you avoid foreclosure , run!”
Personally, I [...]

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Attorney: Bailout Bill Fails Foreclosed Homeowners

by Moe Bedard

When Baron decided to become a homeowner a few years ago he thought he was doing the right thing. He says he went to the wrong person to make his dream of homeownership come true.
“What they told us is after three years we could come back and re-finance,” Baron, who didn’t want to share his [...]

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ANALYSIS OF SUBPRIME MORTGAGE SERVICING PERFORMANCE

by Moe Bedard

Nearly one year ago, the State Foreclosure Prevention Working Group met with the 20
largest servicers of subprime mortgage loans to discuss opportunities to prevent
unnecessary foreclosures. Over the past year, the State Working Group, composed of
state attorneys general and state banking regulators, has collected data monthly from 13
of these 20 servicers and published two reports on [...]

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Nearly eight out of ten seriously delinquent homeowners are not on track for any loss mitigation outcome

by Moe Bedard

These days, it may look like the Wall Street trading floor is ground zero for the country’s economic crisis, but the root of the problem is still in your neighborhood.
The State Foreclosure Prevention Working Group, a coalition of officials and mortgage servicers in North Carolina, California, New York and other states, has just put out [...]

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Lender cuts Mass. deal over subprime mortgages

by Moe Bedard

A California investment firm has agreed to modify 200 Massachusetts homeowners’ subprime mortgages – slashing interest rates and forgiving thousands of dollars in late charges, legal fees and past-due interest.
“This shows what can be done if (the banking industry) looks beyond just saying: ‘Let’s foreclose,’ ” Attorney General Martha Coakley said yesterday in unveiling a [...]

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