In early March the Obama Administration announced the Making Home Affordable Program. A major portion of this program deals with mortgage modifications. The modification part of the program is impressive. It brings down the monthly mortgage payments of people facing foreclosure to 31% of their income. Many people who in the past would never have [...]
From 2000 to 2006 some mortgage lenders and mortgage brokers frequently used deceptive and unlawful tactics when advertising and selling subprime mortgages. They frequently targeted people who had issues with their credit and who could not qualify for a regular mortgage. They fed on the dream these people had to own their own homes. What [...]
Last week I saw this article about a foreclosure in California that I just had to share with you. It highlights what not to do when your mortgage company starts to foreclose on your mortgage. It also highlights how mortgage companies can mishandle foreclosures. In June of 2008 Elba Coronado received a Notice of Default [...]
I don’t know if you saw it. If you haven’t, please sit down as you read this. This is truly devastating. Last week some startling statistics came out. 175,199 homes were lost to foreclosure in March. This was a new monthly record. In the first 3 months of this year, lenders have taken [...]
If you have been reading my posts here on my Blog, you know that rather than representing yourself in the foreclosure process I recommend that you hire the best person whom you can find to represent you. That may be a lawyer or an expert in the field. I do that for a reason. [...]
