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Blog entries tagged with "debt relief":
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Example from Southern California: Buy and Bail
The people who took the conservative approach and bought a house they could afford are feeling like something isn’t quite right.
Attorney General Bill McCollum's office is investigating over 1,700 complaints against debt relief companies. McCollum stated that preying on Florida residents in distress will not be tolerated.
Don't Use The "F" Word In My House!!
Some Americans are lifting their voices in an concerted effort to make Washington D.C. sit up and take notice. The notice being offered is that many Americans feel the need for the government to do right by the average American and not a select 1% of the nation's population, which happens … (1 comments)
Debt Relief Income Exempt from California State Income Tax:
With the Real Estate crisis going on in our country today many families need help. If you have a Adjustable Rate Mortgage, Option Arm, Owe more than your Home is worth, Are behind in your payments, a Loan Modification may be the answer. Loss Mitigation and Loan Modification is a program … (0 comments)
I just sat through a great class - Tax Update was the topic - yeah I know sounds absolutely horrible but it wasn't! I learned a lot and one of the top things is about this new provision for taxpayers who get into mortgage trouble and get foreclosed upon. The points … (0 comments)
Mortgage by Randy
The housing act, won approval in Congress on Saturday and President Bush signed it today! It aims to provide relief to homeowners, incentives to buyers, guidance to lenders and oversight to vital government-sponsored entities, such as Fannie Mae and Freddie Mac.
Today, thousands of people are finding themselves with huge debt problems resulting from credit card debt. Are you one of these people? Are you having difficulty managing your monthly credit card payments? Is your credit card company starting to send you notices or reminders to pay your past due debts? What … (0 comments)
I received a letter in the mail the other day regarding H.R. 3648 which is the Mortgage Debt Forgiveness act of 2007. Bush passed this so that homeowners would not be taxed on the debt forgiveness of a short sale. For those who don't know the investor sends a 1099 to … (0 comments)
While economic news on the housing front is doom and gloom nationally, the news isn't as bad in St. Louis. Certainly new home sales are down and resale has taken a hit too but many of the national reports are skewed by the statistics of the East and West coasts and … (1 comments)
foreclosures are gaining Speed! In the month of January filings were up 57%! ???? Unbelievable That is an 8% increase from the month of December Ok Active Rainers! Which state is the winner of the highest rate of Foreclosure .......... Nevada! with California and Florida a Very close Second and Third Respectively Never fret Californians you … (10 comments)
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There is a lot of information on doing a short sale on your home. The information is changing daily as the lenders adapt to the market. Find out if you can use a short sale to avoid foreclosure on your house.
I just noticed an article that spells out the bill that Congress just passed regarding debt relief for homeowners in a short sale or foreclosure situation. It states that homeowners from January 1, 2007 through the end of 2009 will not get a 1099 for the forgiven debt in a foreclosure or … (10 comments)
If you haven't heard, debt forgiveness bill has just passed. Now, a short sale won't have then negative connotations associated with the debt relief. The bill number is H.R. 3648 The flip side of this bill is that it might not really do anything in states where there is a long … (0 comments)
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If you have one of those "teaser" rates on a home, pay close attention. Keep making your payments on time, and answer the phone when your lender calls you! Homeowners who follow those two rules may take advantage of a plan to prevent mass foreclosures. The initiative, released Dec. 6, was … (2 comments)
Are you behind on your mortgage payment? 
Are You in the Money Pit? 
Here is a bit of good news for those folks who have ended up losing their home in foreclosure or who have needed to sell them home via a short pay. The Mortgage Forgiveness Debt Relief Act of 2007 made it past The House of Representatives overwhelmingly. 386 voted to pass while 27 … (0 comments)
This article involves a question that a potential client called and asked me, that I think is fairly typical of today's housing market. I spoke with this young man, who was just bewildered and beside himself. Why? Because he knew that in three months his interest rate was set to adjust, … (2 comments)
IN MY MANY YEARS OF BROKERING MORTGAGES, I HAVE COME ACROSS SO MANY SOLUTIONS, INFORMATION AND TECHNIQUES THAT I THOUGHT IT MAY HELP HOMEOWNERS AND MORTGAGE PROFFESSIONALS IF I WERE TO PUT IT IN WRITTING. SO LAST YEAR, I TOOK 3 MONTHS OFF FROM MY JOB IN THE MORTGAGE BUSINESS AND … (2 comments)
Arizona is a deficiency state - meaning lenders can sue you to recover any losses due to your default on your loan after they seize your home and sell it at auction. The Arizona legislature passed a law that protects you against deficiency judgment resulting from your default on your initial home purchase … (2 comments)
Today is rather short but in no means is it unimportant. The theme for the second step of managing your debt has to do with putting your debt in order. Pay off the strangling debt. The most expensive debt and the debt that is not making you any money. Remember that … (2 comments)