Archive for the 'Mortgage News' Category

Negative Home Equity Hits 18% Nationwide

Monday, February 9th, 2009

First American Core Logic based its findings on a database of 42 million properties where there’s a first and or second mortgage. Being delinquent on your home loan doesn’t always mean a foreclosure.  Lenders continue to approve mortgage modification plans in great volumes. During the housing boom, Arizona, California and Nevada were among the fastest [...]

Home Loan Modification Tips

Wednesday, February 4th, 2009

Do not let yourself get pressured into signing up for a loan modification plan if you aren’t ready to commit to remaining in your home.  Have your attorney review any documents or loan modification contracts before signing them.   Ask questions until you fully understand anything you find confusing or out of the ordinary.  Ask the [...]

Housing Bill Would Help Renters Deal with Home Foreclosures

Wednesday, February 4th, 2009

The Associated Press reported that the Indiana legislators say they are trying to fix a situation where landlords facing foreclosure on their rental properties sometimes give tenants little or no notice that they need to find a new place to live.   Lawmakers want to give renters a heads up before they are kicked out of [...]

Mortgage Foreclosure Relief Bill Getting Close

Tuesday, February 3rd, 2009

The bill to save homes from foreclosure by letting bankruptcy judges alter mortgage terms moved closer to a House vote on Tuesday. The mortgage lending industry has worked unsuccessfully to stop the bill.  The House Judiciary Committee voted 21-15 to send the measure to the full House. Committee Chairman John Conyers, D-Mich., amended the original [...]

New Loan Modification Guide for Consumers

Tuesday, February 3rd, 2009

Home foreclosure in the U.S. has reached epidemic proportions, and one of the nation’s hardest hit communities, spanning three counties in Southern California, will be the first to hear about a viable solution. Founders of a new Web site, Consumerhopecenter.com, designed specifically for homeowners facing loss, plan to discuss their solution this Saturday from 10:00 [...]

Home Foreclosures Rise in U.S.

Tuesday, January 13th, 2009

Home foreclosures continue to rise and attorney generals across the U.S. want federal bankruptcy codes amended to allow judges to modify home loans in an effort to help homeowners remain in their houses.  Arizona Attorney General Terry Goddard along with state attorneys general from California, Connecticut, Delaware, Illinois, Iowa, Kentucky, Louisiana, Massachusetts, Minnesota, Mississippi, Montana, [...]