Unemployed Homeowners Facing Foreclosure Left High and Dry Unemployed homeowners facing foreclosure have been left out in the cold with the government's foreclosure prevention program. Since unemployment insurance benefits don't provide enough income to cover most mortgage payments and many unemployed homeowners don't qualify for mortgage modifications, many find themselves facing imminent foreclosure with absolutely [...]
According to an article in the Star-Telegram, some legislators are pushing mandatory mediation to resolve lender/borrower foreclosure disputes. Will it work in Dallas-Fort Worth? The article examined the case for it in Florida: "Florida's courts are currently trying to cope with more than 290,000 foreclosure cases... A majority on the high court's Task Force on [...]
According to an article in the Star-Telegram, the Goldman Sachs Group which is now the owners of thousands of subprime mortgages facing foreclosure is finding itself battling homeowners in bankruptcy court. The article said: "Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in [...]
According to an article in the Star-Telegram, a federal bankruptcy judge approved the sale of the historic Ridglea Theater to FixFunding through a process called "deed in lieu of foreclosure." Using the "deed in lieu of foreclosure" process will allow the debtor to return the property to the lender, avoid foreclosure and escape the loan [...]
According to an article in the Star-Telegram, the Senate reached a compromise on extending the $8,000 tax credit for first-time home buyers which was devised to combat the effects of the foreclosure crisis. The article said: "Under the Senate compromise, buyers must have sales agreements in hand by April 30, but they will have until [...]
According to an article in the Star-Telegram, Fannie Mae is offering homeowners facing foreclosure the option of leasing their home instead of going through the foreclosure process. The article said: "The government-controlled company, through its new "Deed for Lease" program, will allow borrowers to transfer ownership to Fannie Mae and sign a one-year lease, with [...]
Have you noticed the commercial centers near you growing a little quieter lately? If so, you're not alone. Commercial real estate nationwide has taken a beating that has many experts fearing the worse. Vacancy rates have soared while rents have hit rock bottom. And many property owners are struggling to avoid foreclosure . Some have [...]
The Star-Telegram has announced a free foreclosure prevention workshop.Date: Saturday, November 7, 2009.Time: 9am - 2pm Location: Dallas Convention Center, 650 S. Griffin St. The workshop is designed to help homeowners facing foreclosure discover their options for preventing foreclosure . Homeowners will also have an opportunity to meet with their mortgage servicing company and/or a [...]
According to an article at ABC News, the foreclosure crisis has just taken an ugly and violent turn as two mortgage loan agents claim that they were attacked, tortured and robbed by disgruntled homeowners facing foreclosure . The article said:"A California couple and three accomplices were charged in the case. They are accused of beating [...]
According to an article in the Dallas Morning News, the foreclosure crisis is still depressing Dallas-Fort Worth home prices, which have decreased 1.2 percent in August from a year ago. Many analysts are considering that an improvement. However, before the foreclosure crisis, Dallas-Fort Worth home prices had reached their peak in June 2007 and have [...]