According to an article in the Star-Telegram , the Obama administration has pumped up the pressure on mortgage lenders in an effort to curb foreclosures. This week the administration was able to extract a verbal pledge from 23 mortgage company executives promising to enroll 500,000 homeowners facing foreclosure into mortgage loan modification programs. The article [...]
According to an article in the AZ Family some debtors struggling to fight foreclosure , repossessions and other financial problems are being ensnared by internet lending scams that offer "high-risk loans" to people with credit problems. The article said: "I got on the Internet and looked for high-risk loans because my credit isn't great," Woolway [...]
As the foreclosure crisis continues many potential buyers searching for foreclosure deals are once again eyeing "affordable" mortgages. But it's important that future homeowners move cautiously because it is often these types of loans that are the most vulnerable to foreclosure. One of the pitfalls of "affordable" mortgages which often include low (or no) down [...]
According to an article in the Star-Telegram, the government is expected to expand its mortgage aid program this week by offering "new" ways that help homeowners stop foreclosure . The "new" methods that the government may encourage homeowners to use in order to avoid foreclosure? Short sales and "giving back" the home to the lender. [...]
According to an article in the Dallas Morning News, Dallas-Fort Worth is one of only two metropolitan areas where average apartment rents have not declined in the first quarter of 2009. The article said: Average rents in the D-FW area and Denver were unchanged from a year ago in the study of 31 U.S. apartment [...]
If not, you may be one of the lucky ones. There's an interesting article at CNN which reveals that many homeowners facing foreclosure are getting the run around from mortgage lenders when they try to modify their loans (just like we suspected). The article said: Megan Cavallari looks up from her stack of hundreds of [...]
Beware of Tax Refund Loans It's the day after Tax Day and many still have not filed their taxes. For those of you who have procrastinated and are tempted to take out a tax refund loan to "speed up" the process or "bridge" the financial gap, please take a look at the hard facts. A [...]
According to an article in the Dallas Morning News, pre-owned home prices in the Dallas-Fort Worth area have dropped 5 percent in 2009. Nationwide pre-owned home prices have dropped 19 percent. This is leaving many Dallas-Fort Worth homeowners owing more on their homes than they are worth and sometimes even facing foreclosure because of resetting [...]
There's an interesting article at CNN about the abysmal failure of the HOPE for Homeowners, foreclosure prevention plan passed last summer. The article said:In the five months since it has been in effect, HOPE has helped exactly one homeowner to avoid foreclosure. It only helped one homeowner avoid foreclosure? You've got to be kidding me. [...]
According to an article in the Dallas Morning News, a government report noted that U.S. home prices fell 6.3 percent in January from the same month in 2008. Such a significant drop in home prices is negatively affecting homeowners here in Texas, especially those facing foreclosure . Homeowners facing foreclosure are finding it nearly impossible [...]