Obama's Foreclosure Plan

In another effort to stem the foreclosure crisis in the US, the house is getting ready to vote on a controversial bill that would allow bankruptcy judges to modify your mortgage!
The cram-down measure, which was introduced by Rep. John Conyers, D-Mich., chairman of the House Judiciary Committee, would allow bankruptcy courts to extend repayment periods, [...]

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For homeowners of Charlotte North Carolina, the foreclosure trend has affected complete neighborhoods.  Banks are taking homes back through foreclosure and bank owned properties lower the current market value.  Homeowners that need to sell their house fast face stiff competition from banks that are selling repo homes for less than market value.
There is little a [...]

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Foreclosure Tax Relief is a popular topic right now and most consumers who have landed in a foreclose situation need to understand the tax implications of a foreclosure! Even though you no longer own the home, when a bank forgives the debt, you may still have to pay taxes on it! Hows that for a [...]

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Another of the many efforts from the Obama Administration was released this week! An all new 152-page draft bill to create ANOTHER new commission, the Consumer Financial Product Commission. While it’s intended to protect against confusion among all the different financial industry products for consumers, it sounds like just another way of adding to our [...]

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The State of California decided it has had enough of seeing families put out on the street, due to an economy and shady lending practices beyond the control of homeowners… so they are taking action!
California Foreclosure Prevention Act Passes
Effective Monday, June 22 2009, lenders must PROVE that they have exhausted all efforts to modify existing [...]

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Ohio is a judicial or in court only foreclosure state.  This means that the bank must petition a judge to move forward to sell a house attached as security to mortgage in default to try and get the money owed that is not being paid. This also means that the court decides how much a [...]

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Foreclosure laws vary from state to state as far as the exact process you must follow in order for a bank or lender to foreclose on your home. Knowing the foreclosure law in your state can help you negotiate with your lender and perhaps avoid foreclosure altogether.
One of the largest differences in foreclosure law is [...]

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If you live in South Carolina, you just got a break! The SC highest court on temporarily halted thousands of pending foreclosures in the state on Tuesday to allow homeowners the extra time needed to take advantage of the Obama Foreclosure Plan to help them refinance troubled mortgages.
The court injunction — which loan experts say [...]

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The Senate voted Tuesday to take steps and get in front of the thousands of Mortgage fraqud cases filed each month!
The vote came as the former head of the American Home Mortgage Investment Corp., agreed to pay nearly $2.5 million to settle allegations of accounting fraud.
“As foreclosures menace more and more hardworking homeowners, they become [...]

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The Maryland foreclosure process is not that difficult to understand. In Maryland, as with the rest of the United States excluding a few blue-chip areas, foreclosure rates on home mortgages are at record high levels. If you are in a compromised position concerning the state of your home mortgage and have questions concerning your rights [...]

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