The Department of Housing and Urban Development (HUD) announced a new program designed to help FHA borrowers refinance their mortgages. FHA will allow mortgage servicers to provide a an interest-free second loan of up to 30 percent of the loan balance that does not have to be paid until the primary loan is paid off. Mortgage servicers can rewrite the terms of FHA loans, even FHA loans that are delinquent.
Unemployment and foreclosure may be more directly linked according to the Midyear report released by RealtyTrac. While Sunbelt states like California, Florida, Nevada and Arizona dominate the foreclosure landscape, other states that are facing high levels of unemployment are showing above average levers of unemployment. According to RealtyTrac, growing unemployment may have more of an effect on foreclosures than lasting effects from subprime loans.
On paper it seems so obvious. Of course you wouldn't get sucked in by a scam artists promising you super low rates in exchange for wiring a few months...
In a new twist on the Nigerian email scam, online rental ads are soliciting potential renters to wire money for several months rent, in exchange for super low rent rates. A scam alert from the FBI warns against the latest Nigerian scam. Online rentals found through sites like Craigslist are attracting this new Nigerian scam. The FBI warns renters searching for apartments and rentals to be wary of anyone asking for personal information, or who isn't local.
Congressman Barney Frank says that the HOPE NOW Alliance and the mortgage mortgage industry must continue to improve their efforts to provide mortgage modifications. Barney Frank said that if loan modification progress is not seen, more drastic legislative measures, like bankruptcy modification of mortgages, will be on the agenda. The HOPE NOW Alliance says they have seen a slight drop in mortgage modifications, but an overall increase in mortgage workouts since May.
If you’ve ever wanted to be two places at once, new technology from Cernium Corporations can help out with that aspiration. After more than ten ...
Archerfish is a new technology in home video surveillance equipment that sends you alerts anywhere you get internet. The new technology allows you to set up surveillance cameras in a variety of locations, specify the types of events you think are noteworthy and receive updates anywhere from email to your cell phone or PDA. This surveillance system uses the latest technology to monitor your home through surveillance cameras and mobile updates.
What is the purpose of a title company? To avoid title insurance problems and issues. A title company's responsibility is to search the public records and inform the prospective homeowner about any issues and problems that affect the title of a property they intend on buying.
Today's Ilyce Glink Show on WSB covers: Information on the minimum wage increase (and who to call to find out whether you qualify), FREE BOOK GIVEAWAY, Ilyce Glink Fan Club on Facebook sign up (FREE EBOOK AVAILABLE), Buy 3 Get 1 Free Ebook Deal, stock market surge, cash for clunkers scams to avoid, $8,000 federal tax credit, Georgia State Tax Credit, and the DeKalb Down Payment Assistance Programs.
Today on the Ilyce Glink Show, Ilyce talked about the minimum wage increase (and who to call to find out whether you qualify), the stock market surge, cash for clunkers scams to avoid, $8,000 federal tax credit, Georgia State Tax Credit, and the DeKalb Down Payment Assistance Programs. She also took questions from callers like Tom who is upside down on his mortgage and needs to put a lot of money into his house to make it liveable. Ilyce says he may be able to try a short sale, but if he has any assets, his lender may be able to claim his assets to make up for what he owes on the house. Ilyce suggested talking to a lawyer or tax advisor to plan the best course. Another caller said that she's been able to hire contractors and get home repairs done for very low prices, since so many contractors are looking for work right now. For a caller who is struggling to get back on his feet after 2 years of unemployment and $25,000 in debt, Ilyce recommends meeting with the CCCS of Greater Atlanta for a budgeting and counseling session. Listen to answers to these questions and more on the podcast and go to Ilyce's blog for more show notes and helpful links.
