Attorney Roy Oppenheim is helping South Florida homeowners avoid foreclosure by demanding that banks and lenders show proof of true mortgage ownership.
A proposal has been made to allow distressed homeowners to rent their foreclosed houses. The proposal is being considered by the federal government as a way to stem the tide of foreclosures in the country.
A $50 billion plan, designed to guarantee over $500 billion default mortgages will certainly improve the chances of the government to save the nation from the bludgeoning of the foreclosure crisis.
Despite being touted as the most successful among the Obama programs to help trim the number of bank homes for sale and stabilize the housing market, loan modification is still a long way to helping many distressed homeowners. In the third quarter, foreclosure activity across the country rose by 23 percent from the same period last year.
As the crisis in the housing industry continues to pummel the nation, another celebrity has found himself facing the possibility of losing his home to foreclosure.
In line with the company’s plan to provide foreclosure assistance to its borrowers, JP Morgan Chase has decided to hold off foreclosure --- at least for 90 days.
In the article titled 'The Fallout of the Foreclosure Crisis', I talked about the devastating effects a foreclosure can have on a person's life. Financial hardship, destroyed credit, and displacement are the more obvious repercussions that a foreclosure can have, but depression, addiction, and marital strife can all surface from the strain.
The approval of the $700B bailout legislation is just the first step to the address the national financial crisis. Congress now needs to turn its attention to the distressed homeowners.
Freddie Mac and Fannie Mae have announced a six-week suspension of foreclosures. Other mortgage banks are expected to announce their own moratoriums shortly.
Using the same foreclosure listings that scam artists use, the Attorney General’s Office warns distressed homeowners about these foreclosure-related scams.
Although most people think that foreclosure mediation is only designed to delay the actual foreclosure, lenders and homeowners should understand that it could be the way to resolving the mortgage problems.
JPMorgan Chase has decided to place servicers in its various mortgage centers and branches to work with housing counselors in helping distressed homeowners prevent repo homes.
A Utah city is currently experiencing a growth in foreclosed home list. Industry experts said that what the city is experiencing right now is the second wave of foreclosures.
Even after the approval of the $700 billion bailout plan, NJ lawmakers are still planning on passing bills that will provide further assistance to financially-struggling homeowners.
Growing number of foreclosures could mean a growing number of foreclosure pets. While some homeowners are rude to leave their pets behind, be humane enough to rescue such abandoned pets.
Foreclosure resolutions have been the topic of congressional debates, but the housing industry is still miserable. The Obama administration is now prioritizing foreclosure that has been hitting the country and wreaking havoc on the economy.
Federal Reserve Governor Elizabeth Duke has called on the U.S. government to limit the costs of foreclosures to prevent the increase in the number of distressed homeowners.
High foreclosure rate also gave birth to the many incidences of foreclosure-related scams perpetrated by unscrupulous individuals who target troubled homeowners.
Agencies associated with President Barack Obama’s foreclosure homes bailout plan were swamped with e-mails and calls from thousands of distressed homeowners who want information about the foreclosure prevention program.
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