Despite the enactment of the Protecting Tenants at Foreclosure Act of 2009 ("PTFA"), which provides important federal protections for tenants in foreclosed properties, many renters are still being unfairly evicted after foreclosure according to a report released by the National Low Income Housing Coalition.  PTFA, which was suppose to guarantee that renters received at least [...]

In the state of Texas, there is no opportunity to for a homeowner to redeem their property after a foreclosure sale.  That's why it's important that homeowners facing foreclosure act quickly to stop foreclosure before their home is on the auction block. Before a property can go to foreclosure, the lender sends a notice to [...]

When a homeowner faces foreclosure there is often a lot of anxiety about losing their home and also about the foreclosure process itself.  So what exactly happens when a lender considers a property for foreclosure? When a mortgage servicer finally decides to consider a property for foreclosure, the homeowner is seriously delinquent on their mortgage, [...]

Bank of America, which is the largest mortgage servicer in the nation, has failed to do its part to thwart the foreclosure crisis, according to many homeowner advocacy groups.  A report which was recently released, revealed that Bank of America has completed only 630,000 mortgage modifications for homeowners facing foreclosure since January 2008.  Furthermore, the [...]

Chrysler has shown a lot of improvement since it exited Chapter 11 bankruptcy, but a weak sales showing in June hasn't just spooked Chrysler, it has spooked the entire automotive industry.  That's why Chrysler is offer incentives that are so rare it will probably attract even those who know that buying a brand new car [...]

Residents of  the Bristol Pointe Apartment complex in Arlington received a brief reprieve this week after an electricity shut off was thwarted and a pending foreclosure was postponed until next month.  Initially, gas service was shut off at the complex for three weeks, resulting in the issuance of 124 citations because of the lack of [...]

The foreclosure crisis has continued and for many Americans it seems that it is only getting worse.  But what started the foreclosure crisis and how can we avoid this type of catastrophe in the future?  Below are three banking practices that are driving Americans into foreclosure: Lender dishonesty is driving Americans into foreclosure.  Many borrowers [...]

Question #1 - Will bankruptcy stop a foreclosure on my underwater home? Answer: Yes, bankruptcy's automatic stay will stop all collections actions by creditors as soon as you file.  If a creditor has filed a foreclosure against your home, even if it has an underwater mortgage, the creditor must stop all foreclosure proceedings once the [...]

When we think about foreclosure and financial crisis we often think of homeowners who are about to lose their home to foreclosure because they can't afford payments and/or they have suffered a job loss which has made them vulnerable to foreclosure.  But there is a whole new bred of homeowners who are sinking financially; but [...]

Many of the largest mortgage lenders in the country are launching campaigns targeting carefully selected borrowers facing foreclosure, offering them cash incentives if they sign over the title of their deed in what is called a deed-in-lieu-of-foreclosure.  Bank of America alone has mailed out 100,000 deed-in-lieu-of foreclosure solicitations and deed-in-lieu-of-foreclosure transactions completed is breaking company [...]