Mortgage servicers brace themselves as forbearance programs edge towards expiration

Mortgage servicers are preparing for a wave of delinquent mortgages and possible foreclosures to hit the market, but say they have already taken steps to mitigate their impact. The U.S. government made mortgage forbearance available to any home loan borrowers in the early days of the COVID-19 pandemic, and those who took up the option

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Foreclosure Solutions: Saving Your Home before Foreclosure

If you’re facing foreclosure, chances are high that you are feeling a little defeated and discouraged. You don’t have to let your situation get you down, however. It’s not over until someone says

How To Fight Foreclosure And Save Your Home

Are you behind on your mortgage payments or worried about getting behind? Perhaps your work hours have been reduced or maybe you’ve been laid off. For whatever reason, you may have already missed a mortgage payment or perhaps several. When economic problems occur and we know we won’t have enough money to pay our house

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What To Consider When Qualifying A Short Sale

Short sales are slowly fading into the past but good deals will remain until increasing house values fully exceed under water values. Right now, short sales remain a viable investment option in many markets. Start By Qualifying the Seller While the amount of time it takes loan servicers to decide to accept a short sale

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Fed’s $8.5 Billion Payout Leaves Many Unanswered Questions

Some have suggested that the Federal Reserve’s $8.5 billion payout will have brought an end to the long running issue of wrongful foreclosure, but these people are seriously mistaken. In all likelihood, all the lenders have achieved is to give themselves an even bigger headache than they had before…

Worried About Foreclosure? Beware Of Foreclosure Related Rip-Offs

When you are worried about foreclosure, or you’ve actually gotten an acceleration letter from your lender or an attorney, the last thing you need is to be preyed upon by phony “loss-mitigation experts”, who give you misleading information that may make your situation worse.

Banks Step Up Short Sale Incentives

Banks are stepping up their efforts to persuade struggling homeowners to accept a short sale instead of going through a costly foreclosure, according to new reports, with some banks prepared to offer borrowers up to $35,000 to ‘get out of jail’ earlier.

Three Real Estate Agents Arrested in California Loan Scam

The California Attorney General’s office announced last week that they had arrested three real estate agents in Stockton for allegedly collecting money up front for loan modification services, a practice which is illegal.  The three now face several felony and misdemeanor charges, including conspiracy, false advertising to the public, and grand theft. The growing number

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Forensic Loan Audit Scammers Target Struggling Homeowners

Struggling homeowners are being tricked by scammers into undertaking a forensic loan audit, in the hope that they can secure loan modifications to save their homes from being foreclosed on, reports AOL. A number of organizations which claim to be associated with well known auditors and attorneys have sprung up in the last couple of

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Deadline Extended For Banks To Revamp Foreclosure Practices

Federal regulators have given the nation’s 16 leading mortgage lenders another month to work out how they are going to tackle the widely publicized problems they are facing with loan modification and foreclosure procedures. Mortgage lenders and servicers were initially given a 45-day deadline by federal regulators to come up with their plans – a

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