November 16th, 2010 by Reed Allmand 
Bank of America Corp Chief Executive Brian Moynihan has announced that a quick settlement of the 50-state attorneys general probe of the foreclosure crisis is the best solution for all involved. Oh really? Well let’s take a look at some of the facts; very real homeowners lost their homes fraudulently because of this robo-signing scam. [...]
More...October 30th, 2010 by Reed Allmand
Texas Attorney General Greg Abbott along with seven other states (Arizona, Colorado, Florida, Illinois, Nevada, New Jersey and Washington) have entered into an agreement with Wells Fargo which will provide $5 million in relief to more than 200 Texas homeowners who had pick-a-pay (POA) adjustable rate mortgage loans which originated with Wachovia Corp and Golden West Corp [...]
More...October 24th, 2010 by Reed Allmand
Thousands of people showed up in the wee hours of the morning to get help from a homeowner advocacy group dedicated to helping homeowners avoid foreclosure. The program, called “Save The Dream” is set up almost like a job fair; but instead of jobs, it is home mortgage modifications that homeowners are looking to win. [...]
More...October 22nd, 2010 by Reed Allmand
Every so-called cure to the foreclosure mess is not a true remedy. As many homeowners have discovered, some medicine is actually worse than the disease. This is proving to be more fact than fiction in the foreclosure crisis than ever before; so-called foreclosure prevention programs are destroying financial lives. Below are three foreclosure prevention traps [...]
More...October 21st, 2010 by Reed Allmand
The decision to allow your home to go into foreclosure is a very serious one; but sometimes holding onto a home facing foreclosure could in fact being doing more financial harm than good. Below are a few signs that your avoidance of foreclosure could be a form of slow financial suicide: Your home is worth [...]
More...October 11th, 2010 by Reed Allmand
HAMP has failed the American homeowner and it’s time that our legislators take aggressive action to stop the foreclosure crisis and keep homeowners in their homes. HAMP promised to help over 6 million Americans facing foreclosure keep their homes; but instead we have seen 1.3 million Americans enter into temporary mortgage modifications only to be [...]
More...October 10th, 2010 by Reed Allmand
Recent news of yet another mortgage servicer throwing homeowners under the proverbial bus by filing scores of possibly fraudulent foreclosures has placed the failure of HAMP and other foreclosure prevention programs into the spotlight. Ally Financial, the nation’s fourth-largest home lender, halted evictions in 23 states this week after it was revealed that a document [...]
More...September 22nd, 2010 by Reed Allmand
GMAC Mortgage recently announced that it is temporarily suspending evictions and real-estate owned (REO) closings related to certain foreclosures that have been challenged in court. The company is supposedly investigating those foreclosures to make sure that they were done correctly. Earlier this week it was announced that GMAC had called a moratorium on foreclosures in [...]
More...September 15th, 2010 by Reed Allmand
We’ve heard a lot about foreclosures due to unemployment leading the way in this recession; but toxic mortgages are still sinking many homeowners. Adjustable rate mortgages were popular during the housing boom because they allowed the debtor to pay only the interest or very little principal for a certain number of years. This way homeowners [...]
More...September 6th, 2010 by Reed Allmand
Bogus lawsuits designed to avoid foreclosure will not work. This needs to be said first, foremost and often because too many desperate and vulnerable homeowners facing foreclosure are falling prey to “debtor predators” who leech off of the deeply indebted just to make a profit. This is what happened to 2,000 homeowners who were conned [...]
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If you have been unemployed for a while, you may be thinking about making a career change or seeking self-unemployment. Keep in mind, some state programs are not eligible for those who are self-employed but some states may allow you to collect unemployment benefits while working toward self-employment. You’ll have to review rules and requirements [...]
An offer in compromise lets taxpayers settle tax debt for less than the original amount that is due. While the paperwork for the process can be obtained by the taxpayer who is seeking to apply, it has been recommended to work with a tax expert during the process. There are rules and requirements that need [...]
The bankruptcy process may seem challenging depending on personal circumstances and which chapter is filed. It is often wondered what happens when a co-signer files for bankruptcy protection. In many cases, a co-signer situation makes both parties responsible for outstanding debt. If the account in question goes into default, either party can be pursued by [...]
When we modify your bankruptcy plan we are changing your plan payments. This means that we have to get with your employer and change the terms and amount of your wage order. The only way we can do that is by filling out a new wage order form.
Learn MoreIf the bankruptcy stay terminates on your home that means that even though your in bankruptcy, your creditor can pursue all there legal remedies they can pursue if you were not in bankruptcy. This includes foreclosure, and having your house sold and evicting you from your house.
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