foreclosure: Help for Homeowner - Understanding the Making Home Affordable Program - 12/16/09 04:09 AM
Making Home Affordable Program pushes the nation's largest lenders and loan servicers to lower interest rates for existing or refinancing mortgages.  Few local banks are involved in the program, typically, because they no longer own or service the mortgages they originated.As of October 2009, about 650,000 households nationwide enrolled in the program on a trial basis and only about 1,400 nationwide had made it a permanent status.  But the government is accelerating that, announcing plans to convert 375,000 homes into permanent status by the end of the year.  The mortgage banking industry added that is also has modified nearly 1 million … (1 comments)

foreclosure: Loan Modification Denied? What Next? - 10/01/09 08:22 AM
We've been talking with a lot of home owners lately who have tried to do a loan modification.  Some were denied and out of frustration have decided to let their house go to foreclosure.  Many people make emotional decisions without seriously considering their long term effects. 
In the situation where a homeowner has been denied and they let it go to foreclsoure, can they or should they consider, other options? Yes!  Before letting the house go to foreclosure consider what's the impact on my credit?  Can a "Short Sale" help me?
A foreclosure will remain on your credit report for seven to … (4 comments)