Archive for June, 2008

Bankruptcy Reform Laws a Failure — Lenders Prey on Borrowers More Than the Other Way Around

The new bankruptcy laws were passed in 2005 when mortgage companies and financial investment firms were artificially pumping money into the housing market to create a huge bubble. Ostensibly, these new laws were meant to curb the large problem of homeowners or borrowers taking out loans, spending too much, defaulting, and declaring bankruptcy to get […]

Creative Local Solutions to Fight the Foreclosure Crisis

It should be clear by now that if there is to be any real long-term solution to the foreclosure crisis, it must come from the local level and involve creative ideas. The federal government has proposed nothing but more centralized power and tax breaks for multinational corporations and have tried to label these schemes “foreclosure […]

How Credit Cards are Dealt With During the Foreclosure Process

One more thing for homeowners to worry about when facing foreclosure is keeping on time with all of their other debts, such as credit cards and car loans. But the credit cards are often the most dangerous to fall behind on, as lenders may drastically increase interest rates and add hundreds of dollars in extra […]

Who Files for Foreclosure — Homeowners or Banks?

Many homeowners seem to consider “filing foreclosure” as a way to deal with a financial hardship and give up a mortgage payment they are no longer able to afford. They may want to know how they can file for foreclosure the best way, or how to do it at all. However, this misunderstands the foreclosure […]

Consider Filing Bankruptcy to Stop HOA Foreclosure

If your HOA is trying to force a foreclosure on your condo or townhouse due to unpaid association fees, then it may be likely that they have a lien on the property. This may have been the result of some type of confession of judgment if you ever fell behind or due to the association […]

Don’t Wait For New Foreclosure Laws To Save Your Home

Lawmakers nationwide are debating on which new laws will most help foreclosure victims. Many different solutions have been presented, such as stopping foreclosures completely for one year, or placing more regulations on sub prime lending. Once a decision is made, there is no guarantee that it will even help existing foreclosure victim. Many laws being […]

Property Taxes on a Deed in Lieu of Foreclosure

Giving the bank a deed in lieu of foreclosure can be an effective way to get out from under a property and avoid some of the worst consequences of having a house fall into foreclosure. Homeowners are often concerned what they will have to pay even in this situation, though, and they do not want […]

Homeowner Foreclosure Workshop

 Tomorrow, (June 12, 2008) Kansas City homeowners can attend a free workshop to learn how to save their home from foreclosure. This free workshop is located at the Education Center at Metropolitan Community College-Penn Valley from 2 to 8 PM. This workshop will teach homeowners how to structure a repayment plan with their lenders that […]

Is The Housing Crisis Over?

Last month, Brad Geison, President and CEO of Foreclosure.com announced that he believes the worst of the housing downturn is history. If he’s right, we may see the industry start to turn around and get a nice boost in new home sales before the year ends. He’s not the only one predicting a drastic change […]

Foreclosure Crisis Easing? Nope, Second Wave not Even on the Horizon Yet

If the previous year of record foreclosure rates, falling home values, a declining stock market, and continuing inflation have seemed like too much catastrophe for the US economy to bear, just wait. There will be no short term recovery in the housing market; in fact, foreclosures will continue to increase and property values will keep […]

« Previous Entries