Debt Consolidation, Help and Relief

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 [...]

Fannie Mae Cracking Down On Homeowners Who Walk Away

  • 0 Comments
  • Posted 06/24/10. by alison

Homeowners who walk away from Fannie Mae mortgages will be snubbed for seven years, according to the Associated Press. Fannie Mae says they’re trying to encourage homeowners to avoid foreclosure by banning those who walk away from getting loans. The idea is to deter homeowners who could pay from simply walking away from their responsibilities. [...]

Nation’s Largest Bank Makes Big Move To Help Homeowners

  • 0 Comments
  • 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 [...]

US Treasury Department Pushes Banks To Help Homeowners

  • 1 Comments
  • 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, Mortgage, Mortgage modification, Banking, Subprime mortgage crisis, personal finance

Tight Lending Market Hurts Consumers

  • 0 Comments
  • Posted 12/17/09. by admin

It is easy to forget that there are millions of people who did not lose their jobs and are living through the recession without having to make significant financial changes. Many of these consumers have good credit or credit that would not prevent them from borrowing responsibly. The problem is they can’t find money [...]

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 [...]