Debt Consolidation, Help and Relief

States Probing Possible Foreclosure Violations

  • 0 Comments
  • Posted 10/15/10. by alison

All 50 states and the District of Columbia are investigating allegations that mortgage companies used flawed documents when working on foreclosures of hundreds of thousands of homes. Some experts are hoping this in-depth look will lead to reform to fix the issues. But the changes could take a while.
The probe would force banks to follow [...]

Foreclosure Rates Still Increasing

  • 0 Comments
  • Posted 08/19/10. by alison

Foreclosures jumped by four percent in July. There were an additional 325,229 filings added to the already massive pool of properties in foreclosure. The July numbers marked a ten percent increase compared to July of 2009, according to TheHill.com. It also marked the 17th straight month that foreclosure filings topped 300,000. “Declines in new default [...]

Music Star Saves Families From Foreclosure

  • 0 Comments
  • Posted 05/20/10. by alison

In case you missed last week’s episode of Oprah featuring music star Will.i.am, here’s a recap. The Black Eyed Peas member announced the launch of a new program he’s behind that’s  helping people facing foreclosure. It’s called the i.am home fund and Will.i.am hopes it will keep people impacted by the recession from losing their [...]

Foreclosures Plateau, Mortgage Interest Rates Fall

  • 0 Comments
  • Posted 05/13/10. by alison

Mortgage interest rates for 30-year loans fell to their lowest point of the year, according to Freddie Mack and a report on MarketWatch. Mortgage interest rates are currently at 4.93% with an average .7 point. That’s down from 5% during the last period and 4.86% compared to a year ago. “The National Association of [...]

Home Affordable Foreclosure Alternatives: New Program For Underwater Homeowners

  • 0 Comments
  • Posted 03/11/10. by alison

A new government program will essentially pay homeowners to sell at a loss. It’s called HAFA, or Home Affordable Foreclosure Alternatives and it goes into effect April 5. The goal is to help some of the nearly 25% of US homeowners who currently owe more on their homes than what they’re worth. Under HAFA, homeowners [...]

Citigroup Starts The ‘Foreclosure Alternatives’ Program

  • 0 Comments
  • Posted 03/1/10. by admin

Consumers trying to deal with the debt they cannot repay after losing jobs have been cast as the true victims of the collapse of the derivatives market. Even as the CEO of General Motors is awarded a $1.7 million contract to run a business that is majority owned by the federal government, many middle class [...]

Consumers Have Trouble Deciding When Foreclosure Is Best Option

  • 0 Comments
  • Posted 01/14/10. by admin

There is a lot of information in the news every day about programs like the government’s mortgage modification program. The program is intended to give consumers an opportunity to lower their mortgage payment by changing the terms. The program was put into place during the recession because many homeowners found themselves either unemployed or with [...]

U.S. Government Applying Pressure On Banks

  • 0 Comments
  • Posted 12/5/09. by admin

The U.S. government through the Treasury Department has decided that it‘s time to put some pressure on the banks in the area of mortgages. As most people know, there are millions of consumers unable to make their mortgage payments in a timely manner. Troubled mortgages continue to grow in numbers as more consumers fall behind [...]

Record High Foreclosures

  • 0 Comments
  • Posted 05/28/08. by admin

Another piece of devastating news hit the media recently concerning foreclosure rates. In a report released last month the amount of home foreclosures rose to an all time high during the last portion of 2007 between October and December.
This news has fueled the ever growing fears that many consumers have regarding the possibility of a [...]