homeowners
Freddie Mac: Refinance Analysis Q4
Eighty-five percent of homeowners maintained or reduced their mortgage debt in the fourth quarter of 2011, many by refinancing their mortgages, according to a report released Thursday by Freddie Mac. Earlier this week, a report issued by NPR and ProPublica …
Preventing House Fires
This past Summer, our friends’ beautiful 100-year old home was hit by lightning and caught on fire. The house was a total loss and it will take them two years to rebuild. While lightning strikes can set a house on …
Help For Homeowners from HUD-Certified Housing Counselors
Q: I was reading several of your articles in a New Jersey paper about loan modifications and what a nightmare they are. It made me tear up reading the second article which was almost exactly what we experienced with our …
HARP 2.0 Refinance Program Changes – Will They Work?
On Monday, October 24, 2011, the Federal Housing Finance Agency announced major changes to the Homeowners Affordable Refinance Program (HARP). The old version of HARP, which had been in place for about two years, assisted 900,000 homeowners in their efforts …
Loan Modification Denied and Facing Foreclosure
Q: For a brief moment in August 2009, my business just all but stopped. I’m an accountant and my clients had trouble paying their bills. I asked my lender for a loan modification. They said everything was great except I …
Loan Modification Hell: Trial Loan Modifications Aren’t Being Made Permanent
Q: I’m in loan modification hell. We supposedly “qualified” for the Making Home Affordable program, and our lender, Bank of America, gave us a new, modified payment. We supplied all the required documentation, etc, to our lender, and from what …
Strategic Default: When To Walk Away From Mortgages
A reader considers a strategic default on her home mortgage loan. Q: I am pushing 73 and my house is underwater. I have a first loan of about $140,000 and a second loan of about $18,000 with a 7.85 percent interest …
Selling House At A Loss Might Have Benefits
Q: Can you please help me. I am 32 years old and earn $63,000 a year and invest 8 percent of my salary into my company’s 401(k) plan. I have $90,000 in cash in the bank. I also have a …
FSBO: Investment Property and Seller Financing
Q: I wish to sell an investment house I own personally. Do I need a license? I live in Washington DC. Also, can I give the buyer financing (it would be seller-financing) to buy the home. Would I need a …
Neighbor’s Tree: Removal and Damage Negotiation
Q: My neighbor has a tree very close to my border that is over 50 years old. It is a really big tree. It is so big I feel that it really belongs in the forest. If it comes down …
