The Community Clearinghouse Agency Inc. of Lancaster, Pa., is offering a new zero interest mortgage service to people wanting to buy their first home or to those dealing with foreclosure. The essence of the new service is the mortgage holder would make payments that are applied strictly to the principal. The prospective homebuyer finds a [...]
The Attorney General of Nevada, Catherine Cortez Masto, recently joined the Mortgage Foreclosure Multistate Group, which is comprised of the state attorney generals in 49 states, as well as the state banking and mortgage regulators in 30 states. This groups aims to examine and investigate allegations that certain mortgage services companies violated state laws and [...]
Due to the current housing market crisis, the practice of short selling, which involves the homeowner selling their property for a lower amount than the outstanding balance on the mortgage, in order to avoid foreclosure and as a means of ensuring that the lender receives some return on investment, has become quite common. The number [...]
Mortgage modification is one of the best ways to avoid home foreclosures, but the process is fraught with uncertainty and delays. After going through a mortgage modification process, the current interest rates are lowered and so the homeowner ends up having to pay a lower monthly installment. However, homeowners are finding it difficult to get [...]
Bankruptcy laws went under great changes back in 2005 due to the tidal wave of filings, and the lending banks and credit card companies wanted to crack down on the borrowers who wanted an easy way out of their debts. With the change in bankruptcy filing laws, it become more financially prohibitive and more difficult [...]
Louisiana is seeing an increasing number of property foreclosure notices as compared to a year ago. With foreclosure notices nearly doubling from May 2009, more home owners are facing the prospect of losing the roof over their heads. According to RealtyTrac Inc., a firm which tracks foreclosure notices nationwide, there were more than 1,700 foreclosure-related [...]
