Archive for the 'Foreclosure Loans' Category

The Federal Home Affordable Modification Program

In 2009, the Congress and the Obama administration revealed their newest plan to help families save their homes from foreclosure by encouraging mortgage modifications. This plan, called the Home Affordable Modification Program (HAMP) was designed to create broad guidelines for the mortgage industry on modifying loans, as well as provide incentives to lenders and services […]

Stop Foreclosure Loan Refinance

If you are facing foreclosure you may be looking into ways to stop it or save your home.  One option that should be explored and works for many people is a refinance loan.  A refinance loan is where you get another mortgage loan to pay off your existing loan on your property.  This will help […]

Why There Are So Many Foreclosures And How To Stop Them With A Loan Modification

Last month there were more foreclosures then ever before, which means they are increasing not decreasing, as some might say.  Obviously homeowners want to avoid foreclosure as do the banks.  Lenders do not want foreclosures written on there books, because it runs the risk of the bank failing.  Homeowners usually do not want to lose […]

Alternatives To Foreclosure

Facing foreclosure is a stressful time in a homeowner’s life; the thought of losing a home is an unsettling one.  You took time finding the right place for you and your family.  You put the effort in getting it set up and furnished for your needs.   You probably looked at several other homes until you […]

Learn About Mortgages and When To Refinance Them

If you are facing or trying to avoid foreclosure, learning about mortgages and how refinancing them can be a valuable tool in saving your home.  It is good to think about mortgage refinancing before foreclosure is even concern; it can possibly help you pay it off quicker, lower you monthly payments, or even consolidate debt.
Mortgage […]

Understanding Adjustable Rate Mortgages

An adjustable rate mortgage is a mortgage loan where the interest rate on the note is adjusted based on market interest rates and indices.  The more common indicators are 1 year Treasury-bill securities, the COFI index and the LIBOR (London InterBank Lending Rate).  Other forms of mortgage loans include the interest-only mortgage, fixed rate mortgage, […]

Understanding A Non-Performing Mortgage

A nonperforming loan is one that is in default or just about to be.  People who are facing foreclosure that have missed their mortgage payment for three months would now be considered in default.  When you have a nonperforming loan the payments will be past due by 90 days, or 90 days of interest payments […]

Three Problematic Solutions to Foreclosure - Refinancing, Selling, Giving Up

When homeowners are trying to save a house from sold at sheriff sale and eviction procedures, they almost always want to know what the best solutions are to avoid foreclosure. While there is no “best” solution, only ones that work and ones that do not, potentially bad decisions by borrowers, state foreclosure laws, and current […]

Foreclosure: Facts and Fiction

How many times have other people told you certain things which just weren’t true?  You may have even believed them for some time, because they said it so convincingly.  But after doing some research of your own, you realized they were completely wrong.  It could have been about anything: who won the World Series in […]

Mortgage Options When Facing Foreclosure

When facing foreclosure one of the first things most people consider doing is to look for is to restructure their mortgage.  This a great option to try and do if you meet the minimum requirements; otherwise you’ll just be wasting your time when there may be better solutions for you to avoid foreclosure.
With the ever-increasing […]

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