foreclosure: How is Your State Responding to the Foreclosure Crisis? - 10/10/08 02:55 PM
The Center for Responsible Lending estimates that one in 33 U.S. homeowners will be in foreclosure within the next 2 years. Nevada, California, Florida & Georgia are among the states hardest hit by the national foreclosure crisis, California also being among the hardest hit by ARM foreclosure starts.
Among the steps … (0 comments)
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foreclosure: No Cost "HOPE NOW" Helps Homeowners Avoid Foreclosure But Cautions... - 09/03/08 02:41 PM
"borrowers should be wary of sources that offer help but require a fee"
When homeowners find themselves facing foreclosure proceedings reaching out to their lender is vital however, the largest comment by homeowners entails the nonresponsiveness of lenders.
There has been a change in lender attitudes though and with the help … (6 comments)
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foreclosure: Homeowners Also Responsible for Mortgage Fraud - 09/02/08 12:32 PM
Desperate to get 'out-from-under' in a declining market some homeowners have decided to walk away from mortgages they can no longer afford creating two rising scams to add to the mortgage crisis - the so called "buy and bail" scam and "phony short sales" scam.
Both scams include lying on … (4 comments)
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foreclosure: Don't They Realize Where They'll Be Soon? - 08/27/08 01:46 PM
A recently issued report by the Mortgage Asset Research Institute (MARI) states that mortgage fraud climbed 42% in the first quarter of 2008. The lender criteria has tightened considerably so that some feel it is necessary to 'tweak' applications. The most common situations cited were General Application Misrepresentation such as debt … (8 comments)
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foreclosure: Short Sales, Quit Claim Deeds, Acceleration Clauses & Foreclosure - 08/26/08 12:14 PM
A report published by FREDDIE MAC (Federal Home Loan Mortgage Corporation) tells us that "fewer than half of homeowners contact their lenders before entering foreclosure". These homeowners are not only missing out on the assistance they might be able to receive from their lender, they more than likely do not know … (1 comments)
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foreclosure: Need a Quick Sale? Price Your Home Right - 08/11/08 12:02 PM
In the current market many homeowners are finding themselves faced with foreclosure proceedings. With the hope of catching-up the delinquent payments dwindling the only option left often becomes selling the home…quickly.
Many areas have seen home values drop so that sales prices will not cover the loan balance. Don´t despair.
Your … (2 comments)
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foreclosure: Renters in Foreclosure Also Scam Targets - 07/08/08 01:26 PM
In July 2007 Alberta and her husband signed a 2 year lease option agreement for a home in Hesperia, California only to find out 10 months later that the home was in the final stages of the foreclosure process and that it had entered default the previous December. At the … (1 comments)
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foreclosure: Renters in Foreclosure: What Are Their Rights? HR3915 - 06/19/08 01:11 PM
I'm getting more and more contacts from people who are losing their leases due to foreclosure. These people are desperate for answers. Below is an excerpt from an article by Attorney Janet Portman...This link might be helpful if you're getting the same kinds of calls.
"HR 3915, The Mortgage Reform and … (0 comments)
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foreclosure: Tenant Protection from Foreclosure Through AB2586 - Corrrection - 06/14/08 12:56 PM
Once again California is ranked #2 of the top five states when it comes to home foreclosures with the Inland Empire ranking #5 in the metropolitan top 10—certainly not a positive distinction. Foreclosure is so widespread that it seems impossible to be unaware of the plight especially as a real estate … (3 comments)
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foreclosure: Minorities are Foreclosure Scam Targets - 04/30/08 03:12 PM
You may have read my recent post Foreclosure Recovery Scams in Your Area . In that post I mentioned talking with Graciela Carvajal of ACORN Housing in San Bernardino, CA. She told me that there is such a large population of minorities in this area who don’t understand not only … (2 comments)
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foreclosure: Renters Can Fall Victim to Foreclosure Too - 04/08/08 11:26 AM
Home owners aren't the only ones who can fall victim to the foreclosure scourge.Thousands of renters are finding themselves suddenly homeless (see this CBS news video). Some lenders offer renters a "Cash for Keys" program others just put them out on the street.
To make matters worse, renters are also falling prey … (8 comments)
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foreclosure: They Deserve Better - 04/02/08 03:00 PM
I was recently talking with a new member of our office team. He was telling me of a veterans group he works with and about the thousands of reservists that have been called to active duty many of whom are now having trouble meeting their mortgage payments and are now … (3 comments)
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foreclosure: Fraudulent Foreclosure Advice - 01/18/08 01:45 PM
The foreclosure epidemic in this country has become so incredibly rampant and sad. Another 1.2 million foreclosure proceedings are predicted for 2008. There are so many emotions involved for the homeowners they feel overwhelmed.
Treasury Secretary Paulson has told us that as many as 50% of foreclosed borrowers have not spoken … (18 comments)
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foreclosure: Buying REO property is risky for several reasons. - 11/02/07 03:29 PM
… (2 comments)
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foreclosure: Find Yourself in a Pre-Foreclosure Situation? Don't Give Up Hope! - 10/22/07 01:13 PM
Life is full of ups and downs. Any of us can suffer from a financial setback for any number of reasons...unemployment, illness or injury, divorce. But there ARE options to help you get back on track. The first and possibly most important thing to remember in this situation is time … (10 comments)
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