When Debt Settlement or Debt Consolidation?
Debt settlement and debt consolidation are two distressed debt terms that are often confused and mistakenly interchanged. This article should help clear that up and help a distressed debt owner decide their course of action in eliminating that debt.
FHA waives ‘flipping’ restriction for a year
The Federal Housing Authority (FHA) has finally figured out that the private investors in the US are the ticket to bail out the distressed homeowners in ‘underwater’ FHA guaranteed mortgage loans and short sales for the current mortgage crisis.
Who’s Really at fault for Trial Modification failure?
The professionals that I represent are acutely aware of why trial mortgage modifications fail.
Imagine that, your lender ignoring your mortgage modification application
This article accuses lenders of not following the mortgage modification guidelines specified in the Home Affordable Mortgage Plan from last March. Really? For the newly frustrated and distressed homeowner who has recently attempted their own mortgage modification, or used the free HUD counselor resources, this might come as a huge shock.
Mortgage Modification or Short Sale statistics; in the end, only your home matters
It begs for comment from someone who actually provides mortgage modification and short sales services, however. For someone who regularly speaks to these distressed homeowners, there is an inside story that begs to be told.
Home Affordable Foreclosure Assistance defined again
Accurate, easy-to-understand articles are difficult to come by when describing effects of the new Home Affordable Foreclosure Assistance legislation.
Mortgage Modification SWAT teams and second mortgages. What?
The so-called SWAT teams from the U. S. Treasury Dept. were not conceived to evaluate second mortgage modification. The were conceived to evaluate various lender’s performance in good-faith negotiation of distressed mortgages under the Home Affordable Mortgage Plan with the concerned homeowners.
No tax liability for short sale deficiency
A mortgage loan deficiency is the difference between the actual selling price of the distressed property and the mortgage loan balance at closing.
Home Affordable Foreclosure Assistance article published in the Grand Junction Free Press
The aspects of this new legislation are summarized on the Short Sale 101 page linked to the right of this post. The conclusion is that the noose is tightening around treacherous and reluctant lenders who avoid taking their responsibility for our current mortgage crisis and attempt to leave the distressed homeowner holding the bag.
Less-than-half accurate advice as to why not pursue a Mortgage Modification
Get this: none, repeat, none of the pitfalls cited in this article are experienced by distressed homeowners who hired a national attorney to do the negotiations for them. We know the law better than, and the lender loss mitigation guidelines as well as, the banks do.
