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Foreclosure Statistics and the US Housing Market

One of the biggest unavoidable concerns for homeowners today is the seemingly ever-increasing number of foreclosures throughout the nation. 2008 was a horrible year. Foreclosure activity was up 90% nationwide from 2007. Some localized areas were far worse, such as California which saw an increase of 150% between January and February of 2008. These statistics […]

Renters and Foreclosure - New Federal Law Affects You

In this time of economic difficulty, many new laws are being enforced} to help people get out of debt and prevent foreclosure. Such laws are coming into play in the national landscape as well being localized on state levels. What the current federal foreclosure law states is that residents of properties that have been […]

How to Negotiate for a Mortgage Modification to Save Your Home

During a time when national foreclosure rates are through the roof, you may be looking for ways to halt foreclosure so you can keep that roof over your head. Usually, the process of foreclosure does not begin until you have incurred three periods of nonpayment on your mortgage. If you see this becoming a reality […]

Why Are The Government Mortgage Bailout Plans Such Disasters?

The United States government is aware of the increasing number of foreclosures in these worrisome economic times. Bailout plans have been put in place and it has been said that between 8 and 9 million homeowners have the possibility of qualifying for help to avoid the foreclosure of their home. However, what it boils down […]

Use This Piece of Information to Save Your Home from Foreclosure

A smart home owner can use a slightly obscure fact to their advantage to try to prevent foreclosure by their bank. Did you know that it is less expensive for loan servicers to keep you in your home than actually go through with a foreclosure?
On average, it costs the lender between $60,000 and $80,000 to […]

Two Steps to Stop Foreclosure, and A Warning About Scams

If you are facing the loss of your home now or far enough delinquent in your bills to worry about it, getting foreclosure relief needs to be your first priority. The worst thing you can do is avoid dealing with your financial hardship. One of the most common mistakes people make is refusing to speak […]

Some Issues to Dispute in a Qualified Written Request to the Bank

When attempting to get information from a lender or servicing company, homeowners can take advantage of their legal opportunities under the Real Estate Settlement Procedures Act to send a Qualified Written Request (QWR). A QWR is meant to help borrowers raise disputes with their mortgage servicer and have those issues resolved in a timely manner.
Homeowners, […]

The FDIC is Not Always Immune to Claims - Some Exemptions

As mentioned in a previous article, it can be very difficult for homeowners facing foreclosure to raise certain claims in court when the bank holding their loan has failed and been taken over by the Federal Deposit Insurance Corporation. Case law and federal statute give the FDIC broad immunity against a number of claims that […]

FDIC, Bank Takeovers, and the Foreclosure Process

With the significant increase in bank failures due to the financial collapse of 2008, more loans are being taken over by the Federal Deposit Insurance Commission. While the government stepping in may make the transition of loans from failed banks to solvent banks a little easier, in cases of default and foreclosure the situation can […]

Some Recent Foreclosure Statistics - Is Anything Helping Homeowners?

The following are some facts and statistics about the real estate market and the government’s efforts in putting together effective plans to address the foreclosure crisis. Despite the government’s programs, starting in October 2007, and continuing with the latest plan released earlier this year, the foreclosure rate has kept up its dramatic increase.
According to the […]

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