Debt Consolidation, Help and Relief

States Probing Possible Foreclosure Violations

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  • 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

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  • 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 [...]

Home Buyers Enjoy Lowest Mortgage Rate In Decades

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  • Posted 06/25/10. by alison

Home buyers are scoring mortgage rates that are around the rates their parents or even grandparents may have locked in. Those with job security, good credit scores and cash on hand will be able to take advantage of some of the lowest mortgage rates since the 1950s. The average rate for a 30-year fixed mortgage [...]

Foreclosures Plateau, Mortgage Interest Rates Fall

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  • 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 [...]

Nation’s Largest Bank Makes Big Move To Help Homeowners

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  • Posted 03/25/10. by alison

Bank of America is making a big move to help troubled homeowners. And some wonder if other banks will follow the move. Bank of America announced it will forgive up to 30% of the mortgage balance held by some of its customers. The homeowners must meet the following qualifications:

The homeowner must be at least 60 [...]

Home Affordable Foreclosure Alternatives: New Program For Underwater Homeowners

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  • 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

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  • 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

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  • 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 [...]

US Treasury Department Pushes Banks To Help Homeowners

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  • Posted 12/27/09. by admin

The US Treasury Department just might look like a knight on a white horse to some homeowners facing foreclosure and unable to get cooperation from their mortgage company.

Tags: US Treasury Department, Subprime mortgage crisis, personal finance, Banking, Mortgage modification, Mortgage

Beware Of Mortgage Relief Scams

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  • Posted 12/14/09. by admin

It seems mortgage problems have been in the news nonstop recently but now consumers have yet another issue of concern. Mortgage scams are on the rise as people desperate to hold on to their homes become victims of unscrupulous scams. Sadly the end result is that homeowners often lose their homes even more quickly.

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