The national foreclosure crisis is deep into the negative equity phase, as reported in the Christian Science Monitor this week. Negative equity, that is, your home is underwater, worth less than you owe on it. As I have ...
Category Archives: foreclosure
Michigan Bankruptcy and Foreclosure News
Countrywide, one of my favorite villains, fessed up to cheating homeowners, in foreclosure, and even including those who had successfully completed Chapter 13 bankruptcy cases, out of tens of ...
Download PDF Version Did Bankruptcy Reform Worsen Foreclosure Crisis?
Bankruptcy laws were significantly changed in 2005, and filings went way down. A new study suggests bankruptcy reform accelerated the foreclosure crisis. The theory is simple enough. People who file bankruptcy and ...
Download PDF Version HAMP Failing To Stem Foreclosures
Due to not getting the mortgage companies to voluntarily reduce the principal balances, HAMP is failing, as ...
Download PDF Version Michigan Foreclosure Crisis Continuing
The foreclosure crisis in Michigan continues. In fact, all of America is under water, shown by the fact that American homeowners are now $745 billion
Download PDF Version Foreclosures And Bankruptcy
Mortgage delinquencies, people behind at least 3 months on their payment, continued to climb according to Fannie Mae. The Calculated Risk blog reports the results, with a graph that points to nothing but trouble for homeowners, the
Download PDF Version How Is The Government Mortgage Modification Program Working?
How are the government encouraged mortgage modifications going? Are mortgage modifications working? What effect is the
Download PDF Version What Happens In A Michigan Foreclosure?
Foreclosure is the way the mortgage company takes your house if you do not pay them. Mortgage just means debt secured by real estate. That is, you pledged your house as collateral for a loan. There are other names, used for marketing purposes, like home equity loan, equity line, but the name has no legal significance. For there ...
Download PDF Version Top Ten List Of Things To Do When You Get A Foreclosure Notice
TOP TEN THINGS TO DO WHEN YOU GET A FORECLOSURE NOTICE: 1. Keep the foreclosure notice! 2. Get all the papers with your mortgage, payments letters, everything, and put it in a file or envelope. 3. Write to the address in the notice requesting a modification. Keep a copy of the letter. (Do ...
Download PDF Version FHA Bailout Next?
Oh no FHA bailout, says the government. Hmmm. Seems to me we've heard this tune before. The FHA stepped in over the last couple of years after the mortgage industry collapse. Unfortunately, many of ...
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