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Mortgage Related

Loan Modification and Foreclosure Prevention Programs Are Not Working for Most

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North Carolina just released a report which did a great job of narrowing in on the core issues that I hear from many people attempting to get their mortgage loans modified or who think a foreclosure prevention program is going to help save their house. For a small minority of applicants these programs are effective, but for the vast majority ... Read More »

What to Do When You Can’t Pay the Mortgage

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If you’re having trouble making your house payments, the first thing to know is that you are not alone. Home mortgage defaults are at an all-time high across America. This is good news for you, because it means that mortgage lenders are familiar with people in default on their home loans and often have established programs and policies to deal ... Read More »

How to Buy a House With Marks on Your Credit

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If you have any negative marks on your credit such as a late payment, default, repossession, lien, judgment or bankruptcy you probably think you’ll never be able to buy a house. Not so. If you have a steady and secure income that is high enough so you can afford to make the monthly payments, and you have a sufficient sum ... Read More »

Ohio AG Goes after Barclays Capital Real Estate, HomeEq Services for Unfair Loan Modifications

The Ohio Attorney general has gone after Barclays Capital Real Estate operating under HomeEQ Servicing for several issues but one of them was an attempt to get Ohio consumers seeking loan modifications to sign agreements that included provisions for the borrower to: Waive all defenses, claims or offsets with respect to the unpaid principal balance as adjusted by HomeEQ to ... Read More »

Is It Time to Walk Away From Your Mortgage in a Strategic Default?

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With homeowners still slipping under the seas of mortgage default more and more are considering that walking away from the mortgage might be a wiser and more logical solution. This approach even has a name, strategic default. A strategic default might be something to strongly consider if you owe more than your home is worth, property values in your area ... Read More »

Woman’s Life is Thrown in Trash in a Foreclosure Mistake

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Nilly Mauck returned home to find everything in her condo had been thrown away in a foreclosure mistake. The condo next door was the one foreclosed on but the trash out team came and cleaned out the wrong condo by mistake, throwing Nilly’s entire life away, jewelry, baby pictures and all. As of this point the Las Vegas realtors responsible, ... Read More »

California Attorneys Disbarred For Loan Modification Activities and Rolls Out Tough New Regulations Regarding Mortgage Foreclosure Consultants

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Threatening possible criminal and civil prosecution, California Attorney General Edmund G. Brown Jr. today ordered 386 mortgage foreclosure consultants to post $100,000 bonds and register with his office. He also ordered more than two dozen companies to justify suspicious loan modification claims made in “slick advertising,” online and through the mail. The companies that were specifically targeted for potential misleading ... Read More »

Real Long-Term Mortgage Loan Modifications Are a Joke.

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As I’ve been saying the mortgage loan modification process is broken. People are not getting the type of long-term real mortgage modifications they need to really avoid foreclosure. In the meantime while they sit and sit and sit, waiting for their mortgage company to respond, their financial life goes further and further down the toilet. The report, the first comprehensive ... Read More »

Maine Attorney General Sues Foreclosure Rescue and Mortgage Modification Companies

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The Maine Attorney General has filed three separate lawsuits in Kennebec County Superior Court against three out-of-state businesses and their principals. The defendants are: Elect Group, LLC, Anthony Ferlanti and Emmanuele Zuccarelli (Florida); Help Modify Now Debt Solutions, Inc., Help Modify Now, Inc. and Chas Bain (California and Nevada); and US Advocate Law Group, P.C. and Jeff Nemerofsky (California). These ... Read More »

June Reyno Still At It In California

I contacted June Reyno recently for an update and instead what I got was the information below. I’m posting it solely so you can make up your own mind on the case. I read through the attachments and quite frankly I think this is a smoke and mirrors exercise rather than an attempt to address the underlying issue, June failed ... Read More »

Nine Companies in NJ Slammed for Offering Mortgage Loan Modification Help

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The Division of Consumer Affairs has mailed notices of violation to nine New Jersey-based companies that allegedly offered loan modification services to consumers without being licensed. The nine companies each were cited for violating the state’s Consumer Fraud Act for engaging in unconscionable commercial practices by allegedly offering to negotiate mortgage modifications without being licensed as a debt adjuster by ... Read More »

Many Extreme Makeover Homes in Foreclosure

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The economy has been tough on many but the gifts given by the “Extreme Makeover” show in the way of revamped houses have not been immune to hitting the auction block. Here are some news stories covering the losses faced by people on the show. Brian Wofford’s Home Aided By Extreme Makeover Faces Foreclosure Eric Hebert Faces Foreclosure on His ... Read More »

Out of Work, Foreclosed On, and Now Homeless – Video

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I came across this video of Jay that found himself out of work, foreclosed on, and is now struggling on the streets. While I didn’t tape this interview, Mark Hovarth from InvisiblePeople.tv did and I’m glad he’s out there doing this. Jay from InvisiblePeople.tv on Vimeo. Get Out of Debt Guy – Twitter, G+, Facebook Read More »

Exotic Dancer Opens Foreclosure Avoidance Company, Advertises on Gospel, Partner Punches Lawyer in Face

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LOL, OMG, you can’t make this stuff up. A Maryland woman who stole millions from Washington area homeowners trying to avoid foreclosure is a “vulture” whose case should serve as a warning to other con artists, a federal judge said yesterday before imposing a sentence of more than 12 years. Joy Jackson, 41, a former exotic dancer who became president ... Read More »

New Law Prevents Foreclosure Relief and Mortgage Modification Services From Charging an Up-Front Fee

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California Attorney General Edmund G. Brown Jr. today issued a consumer alert warning California homeowners to avoid individuals and businesses that charge up up-front fees for foreclosure relief services in light of a just-enacted state law that makes this “abusive practice” subject to prosecution. “Over the past two years, unscrupulous attorneys and real estate brokers have abused their trusted roles ... Read More »

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