Thinking About Suing Your Mortgage Lender or Filing Bankruptcy? As we face a possible third year in this recession (which is officially over if you believe some politicians and economists) many homeowners are still struggling to keep their homes out of foreclosure. Many of them are using controversial tactics such as filing a lawsuit against [...]
Attorney Generals in 50 states have opened investigations into allegations that mortgage companies are engaging in illegal foreclosure tactics such as robo-signing. But how will these investigations impact the processing of a foreclosure in Texas? Robo-signing, the processing of foreclosure related documents without proper review and notarization is allegedly a huge problem in the 23 [...]
One of the surprising and to some mortgage companies, alarming outcomes of the foreclosure crisis has been the rise in the number of people who are refusing to vacate their homes after foreclosure, or in the case of one family breaking back in even after their home has been sold. Jim and Danielle Earl and [...]
Bankruptcy Effect on Mortgage Debtors facing foreclosure and other money issues choose bankruptcy for relief. But how does bankruptcy affect the mortgage of a debtor? Let's take a look at a few facts: The most important effect a bankruptcy filing has on a mortgage is that it stops any foreclosure filing in its tracks. So [...]
The foreclosure crisis has reached a new level as banks that have seized over 100,000 homes in September alone are now accused of engaging in illegal methods to repossess homes. The alarm over "robo-signing" and other illegal foreclosure tactics has risen so high that attorney generals in all 50 states have launched investigations into the [...]
About a year ago we began hearing about the grief and financial loss that many renters were facing because of foreclosure . The federal government responded by implementing rules designed to protect renters facing foreclosures such as requiring 90 days notice before renters could be evicted and forcing new owners to honor the lease of [...]
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 [...]
In the involuntary Chapter 7 bankruptcy case of TRED Holdings, L.P., a few debtors and an attorney learned there is a high price to pay when trying to avoid foreclosure by forcing your mortgage company into a unjustified involuntary bankruptcy. TRED, a mortgage servicing company had been fighting to foreclose on the property of several [...]
Many homeowners facing foreclosure don't understand that even after their home is sold at auction the mortgage company can come after them for the balance of their mortgage. When a mortgage company comes after a homeowner for payment after foreclosure, it's with what's called a deficiency judgment. Here's what you need to know about Foreclosure [...]
With the HAMP program winding down as almost a total failure; many homeowner advocates are proposing a new idea that's gaining support. The "right to rent" programs which would give homeowners facing foreclosure the right to remain in their home and pay rent to the mortgage servicer for a period of up to five years. [...]