The Federal Reserve seeks to initiate changes that will make it much harder for American homeowners to rescind abusive loans contracts and stop home foreclosures. The Feds hope to make changes to the provision in the Truth in Lending Act. The Act has remained the same for 42 years. This change will make it more [...]
The numbers never lie and depending on which source you sight the numbers is between 70%-90% of all residential loans since 2003 contain some sort of fraud or predatory lending. Even on the low end the numbers are staggering considering millions of mortgages have been funded and sold since then. What exactly does fraud or [...]
One out of every three homeowners has a negative equity position in their home. Meaning they owe more than the home is worth. This can and will negatively impact a homeowner if they fall behind on their mortgage. The problem is that when they become more than 90 days behind on their mortgage the lender [...]
Foreclosure Defense is quickly becoming the only real way for a homeowner who is either upside down in property value or in foreclosure to stay in their home. By filing very specific counter claims and proactively attacking the bank for real fraud and predatory lending, which 90% of all loans contain the homeowner is putting [...]
When faced with foreclosure this is truly the first question a homeowner must ask themselves. In most cases the homeowner will want to stay in the home because they have children in school and they don’t want to up root them, there are memories and an emotional attachment with the home and there may or [...]
A short sale is when a homeowner owes more than the value of the home and is looking to negotiate and settle with the lender for less than the original principle amount. This will allow the homeowner the ability to sell the property as a loss to the bank. This strategy has become increasingly more [...]
Depending on state specific foreclosure laws the lender will need to follow a specific set of steps in order to foreclose on your home. The two legal processes a lender must use in order to execute a mortgage foreclosure on a home are a judicial foreclosure process and a non-judicial foreclosure process. Both will result [...]
Foreclosure is a term more and more American homeowners are becoming intimately familiar with. With slumping home values, economic instability and corporate layoffs it is easy to see how bad things can happen to good people. Our country has been built on debt and the ability to borrow money and it now appears that it [...]
Over the past 4 years thousands of companies have emerged to take advantage of the declining real estate market. Primarily loan modification, short sale and credit repair companies are the first to come to mind. When the market began to slide and millions of people began to feel the financial crunch the government was excited [...]
In order for a bank for conduct a foreclosure sale on your home they must either get a judgment for sale which occurs in a judicial state or get permission from the trustee to conduct a trustee sale which occurs in non-judicial states. There are only a few real options a homeowner has when faced [...]
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