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mortgage news: Washington Meddling Again in Mortgages - 10/29/09 04:03 PM
Capitol Hill is once again working on financial institutions to make it easier for people who can't afford the mortgages they agreed to pay to stay in their home even longer by forcing lenders to "CRAMDOWN" the amount of the loan or extend the length of time a borrower has to pay. See Business Week article October 19, 2009 entitled "Return of the Mortgage Cramdown?"
Several proposals are floating around Washington that would force lenders to pause before foreclosure and offer a break if they qualify under a Treasury program. Another proposal would require mediation before being allowed to foreclose while … (2 comments)
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mortgage news: Are you crazy? Stop paying your mortgage is "strategic"? Part 2 - 07/21/09 02:04 PM
This is part 2 of my "Are you crazy" post. You can read part 1 here. I referenced the so-called "strategy" of those who voluntarily stop paying their mortgages. And, based on your responses, I wanted to do a second posting on this issue and why it is so important that we as industry professionals encourage not only our clients, but also our friends and families, to stay the course of continuing to make their monthly mortgage payments-even when they are hearing other ideas from the media and other sources you reported in your blog comments.
The 7-Year Credit Hit
Most … (101 comments)
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