Foreclosure Prevention
Updated Oct. 9, 2013
More than 50% of foreclosures would be avoided if people contacted their lender. So be proactive and aggressively pursue all options you have because you do have quite a few tools you can utilize to mitigate as much loss to you, your credit and your family.. If your are short on time and you cannot do it on your own, then...

Home Abandonment is Not the Answer
Updated Oct. 9, 2013
Home abandonment. When I heard the phrase I had no idea exactly what it meant. Not that there are a lot of things it could mean, my brain just didn't wrap itself around the concept at first jump. After some research it has, and me and my brain agree; it is one of the dumbest ideas we have heard in awhile.. Homeowners,...

Sweat Equity and Maintaining Home Value
Updated Oct. 9, 2013
You've done it. You've finally gone though all the steps and found the house and gotten the loan,. and everything that goes along with all of that. Whew. Now you get to rest for a minute, right? Wrong. Now you have the task of keeping the house in smooth running order. I'm not talking about deciding who...

More mortgage shopping tips, less dry reading
Updated Oct. 9, 2013
Shopping around for the right mortgage product is essential when deciding to buy a home. There is a lot to lose if you chose the wrong mortgage and get something you didn't plan on. There are tons of mortgage products out there so you really want to look around carefully before deciding on one. Remember,...

The Importance of Pre- Qualifying for a Mortgage.
Updated Oct. 9, 2013
Before you apply for the mortgage, before you even start looking at houses, you are going to want to pre-qualify. There is no point putting the cart before the horse and all that sort of folksy sounding advice. Pre-qualifying is a process where a lender examines the buyer's credit profile (you'll want a...

Why Foreclosure Should Be Your Last Resort
Updated Oct. 9, 2013
A rising number of homeowners are defaulting on their mortgages and facing foreclosure or loss mitigation as the economy continues to decline. Homeowners who are unable to make their monthly mortgage payment for whatever reason have options that will allow them to stay in their homes. Even though many...

The 1st Steps in Avoiding Foreclosure
Updated Oct. 9, 2013
Foreclosure is scary. The word brings to mind the loss of everything you’ve worked so hard to achieve. But foreclosure CAN be prevented. There are several options open to you that can work to help you keep your home. They may include forbearance, loan modification, mortgage refinancing, and deed in lieu of...

The 4 Stages of Foreclosure.
Updated Oct. 9, 2013
What happens in a Foreclosure?. There are four steps throughout the process of foreclosure which are the notice of default, the acceleration, the notice of sale, and the auction.. Depending on the bank, the foreclosure process can start right after your first missed payment. The bank will most likely take into...

Short Selling Vs. Foreclosure
Updated Oct. 24, 2014
As a homeowner the day may come that you dread: You owe more on your mortgage that your house is worth. There are many reasons this could have happened. Property values may be dropping in your neighborhood. You may have made a bad decision when taking out your loan by borrowing more than you could afford. You may have...

Faster Loan Modifications Needed
Updated Oct. 9, 2013
The White House recently released an announcement that they are displeased with the slow progress in the foreclosure crisis through lack of using home loan modifications.  This news came out in the last week of June and wasn’t met with surprise considering all the negative press in regards to the...

President Obama's Plan Needs Modification Itself
Updated Oct. 9, 2013
President Obama’s plan to stop foreclosure needs fixing.  The reason: Homeowners who are delinquent with their mortgages are being turned away from HAMP (Home Affordable Modification Program) because their mortgages are technically affordable by its standards.. HAMP is a $75 billion home loan...

Obama's Home Loan Modification Plan: An Explanation and A Small Critique
Updated Oct. 9, 2013
President Obama’s Home Affordable Plan:  HAMP (Home Affordable Modification Program) is a $75 billion initiative intended to help people afford their mortgages and stay in their homes.  One program it funds is a home loan modification program.   Lenders are encouraged to...

How Home Loan Modification Can Help Stop Foreclosure
Updated Oct. 9, 2013
No one is happy with the housing crisis.  President Obama isn’t happy, which is why he initiated the HAMP (Home Affordable Modification Program) in the hopes of the foreclosure storm.  Banks aren’t happy, sitting on vacant homes that they can’t resell in the current market;...

The Early Stages of Foreclosure: Loan Modification Can Help
Updated Oct. 9, 2013
The clock starts running when the homeowner’s mortgage payment becomes 16 days late.  At this time the bank will attempt to contact the homeowner and try to find a way to get current on the payment.  Once this 1st missed payment reaches it’s 30th day being late, and if the bank feels it...

California and Nationwide Laws to Encourage Home Loan Modification
Updated Oct. 9, 2013
As of June 16th 2009, California’s Foreclosure Prevention law took effect.  This law says a bank can’t foreclose on a mortgage without trying to renegotiate the terms of the loan or giving three months notice to the homeowner.. This bill was passed in February, and is very much like President...

Home Loan Modification In 2009
Updated Oct. 9, 2013
Within the last few years, millions of Americans have been forced to learn about home loan modification, whether they wanted to or not. The foreclosure crisis coupled with an unstable economy has made being an expert on the topic crucial for many to keep their homes.  There has been a crash in the real estate...

Home Loan Modification Specialists Are A Good Idea
Updated Oct. 9, 2013
Before going into why you should use a professional when getting a home loan modification, let’s first discuss what a home loan modification is.. A home loan modification is when the bank agrees to change the conditions of the mortgage, allowing the home owner to stay in their home.  There are several...

Home Loan Modifications Needed As Foreclosures Continue
Updated Oct. 9, 2013
Even though there was a decrease in foreclosures in August, there are still thousands of people striving to save their homes.  With out help, home owners can find themselves lost in the complicated, lengthy process of trying to modify their own loan.  The easiest way is to try and prevent that looming...

Foreclosure, Home Loan Modification, and What The Homeowner Needs To Know
Updated Oct. 9, 2013
The current real estate and foreclosure crisis began two or three years ago. Since then homeowners have been working towards getting home loan modifications from their banks. As a result, the banks are becoming more and more buried under requests; many of them unprepared for the number of requests received. All...

Foreclosure, Home Loan Modification and Their Affects on Your Credit
Updated Oct. 9, 2013
The odds are pretty good that if you are reading this, and are debating getting a home loan modification; then you most likely have found yourself in some financial situation not to your liking.  You’re not alone.  There are several options available to you, and not just the bank foreclosing on...