Foreclosure
Deed-in-lieu or Foreclosure on Second Home
Deed-in-lieu or Foreclosure on a vacation second home is not a sure thing with a bank. Q: I have applied for a deed-in-lieu of foreclosure on a vacation beach home I own, but can no longer make the payments. I’m …
How To Catch Up On Mortgage Payments and Avoid Foreclosure
If you’ve wondered how to catch up on your mortgage payments, this reader wants to know and wants to avoid foreclosure. Q: Unbeknownst to me my husband stopped paying our mortgage payments. When I found out, I called to find …
Delinquent Mortgage Fees Create Revenue For Mortgage Lenders
Q: I read your article my local paper titled “Mortgage Modification is Stymied” and I, too, am appalled at the treatment many borrowers receive in the modification process. Most of the large lenders simply have not staffed their servicing departments …
Second Mortgage Holder Can Foreclose On Property
Q: My dad and my mom bought a house with a mortgage. My mom died, and my dad married my stepmom. They took out a second loan on the property, but then separated for awhile. During that period of time, …
Foreclosure Activity Down, But Will It Last?
In its latest report, RealtyTrac announced that foreclosure activity fell in 84 percent of metro areas with at least 200,000 residents on a year-over-year basis. That’s the good news. The real question is how long will it last? According to …
Unemployed? Need Financial Help? Check Out Unemployment Program (UP) for Homeowners from HUD
In 2010, the official unemployment rate stood at around 10 percent, and there were 5 people looking for every job that was available. Last August, the Treasury Department announced that unemployed homeowners could get a 3-month forbearance on their mortgage …
How To Find And Buy Foreclosed Properties
If you’re looking to buy foreclosures or short sales, there are can’t miss opportunities out there, in every market. That’s what Mike Rose, an Atlanta-based loan officer with Wells Fargo, and I were discussing on my radio show recently. Rose …
How To Buy A House After Foreclosure
Q: My husband and I lost our home to foreclosure in October, 2007 after my husband lost his job. We really want to become homeowner’s again and were wondering about the benefits of signing up with one of the non-profit …
Number of Delinquent Mortgages Falls
The Mortgage Bankers Association announced this week that the number of delinquent homeowners rose a little in the first quarter of 2011, but over the course of a year, the number has dropped substantially. According to the MBA delinquency survey, …
‘Notice to Accelerate’ Pushes Foreclosure into Over-Drive
Q: My husband has heard you on the radio and has asked me to contact you about our mortgage problem. I am going through a non-profit housing agency and applying for the Making Homes Affordable Program. My own lender wouldn’t …
