This has been a nagging question for many people faced with a house that is “under water” (not literally, though unfortunately some homes have been literally under water due to Hurricane Sandy recently). By “under water” I mean that more is owed on the home
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Archives for Real Estate and Bankruptcy
Problems with HAMP Program—Class Action filed against Wells Fargo
This is a familiar problem for many homeowners trying to modify their loans. They call the lender and the lender says that in order to modify their loan, they need to be behind in their payments. This happened too many times, and many of my
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Study Faults Servicers Mortgage Modification Program Failures
No surprise here– if you are one of the millions of Americans who tried to modify your loan in the HAMP program (Home Affordable Modification Program) in the last 3 years of this program, you would have experienced this. The program promised much and delivered
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Why the Foreclosure Crisis is Still Dragging Us Down
This article is right on point. The president could have done more to try to stop the rising tide of foreclosures. He didn’t, because it was too risky politically. If he had done more and it worked, we may have been in a totally different
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Bankruptcy Alphabet – R is for Real Estate
The R in the Bankruptcy Alphabet stands for Real Estate. Real estate is important for many reasons. For consumers, their home is their real estate, which is usually their single-most expensive purchase they make in their lives. And, people want to know always, whether they
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Bankruptcy Alphabet- Q is for Quit Claim Deed
The next letter in the Bankruptcy Alphabet is Q, which stands for Quit Claim deed. Many of my clients who call to ask about this refer mistakenly to it as a “Quick Deed”. I’m assuming that they heard something about this method of transferring property,
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Bankruptcy Alphabet – M is for Mortgage Modification
width=”300″ height=”189″ class=”alignnone size-full wp-image-2654″ /> The next letter in the Bankruptcy Alphabet, M stands for Mortgage Modification. A Modification is a way that a mortgage company can voluntarily change your mortgage terms, such as the interest rate, length of time to repay the loan,
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Bankruptcy Alphabet- L is for Lien
The next concept in the Bankruptcy Alphabet is Lien. What is a lien? Is it like “lean on me”? or a lean cut of beef? No, the legal term lien refers to a process that a debt collector can go through to be sure someone
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Bankruptcy Alphabet- K is for Keeping your House
The K in the Bankruptcy Alphabet stands for Keeping, as in keeping your house. Most people who file for bankruptcy want to keep their house. Even now, with house prices so much less than the balances owed on mortgages, people ideally want to keep their
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Mortgage Foreclosure Settlement– What is in it for you?
Here is the latest summary of the “big” foreclosure settlement from the foreclosure abuses by the banks, robo-signing documents and creating fraudulent documents: You may be entitled to some money (maybe $2,000.00) if your house was already foreclosed on. If so, you’ll get some forms
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