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 the FHA approved loan people are just crooks who shifted over from being mortgage brokers when that field dried up.
My fearless prediction?
The government will [...]
Category Archives: Mortgages
FHA Bailout Next?
What To Do With Second Mortgages?
See video post on second mortgages, short sales and other options,
here
Can I Get My Mortgage Modified?
Do not pay a scammer to take your money and apply, check the official government web site to see if you can get a mortgage modification.
Remember, you cannot force the mortgage company to modify your loan. That went out with the Senate sinking Chapter 13 bankruptcy reform.
I agree with [...]
The Mortgage Company Lied To Me
One more story, well told, about how mortgage company greed led to another foreclosure.
How Mortgage Servicers Prevent Mortgage Modifications
They are not called servicers because they are helping you.
Mortgage servicers are hired by the mortgage companies, and usually do mortgage modifications only if it helps there bottom line.
Do I Qualify For President Obama’s Housing Program?
mortgage foreclosure prevention
Federal Mortgage Relief Programs
Sorry for the slowdown in posts, still working on new site, www.michiganmortgageattorney.com.
The National Consumer Law Center has gathered links to all the programs to avoid foreclosure.
Obama Housing Program
Here is the official link.
Foreclosures, Credit Card Defaults Rise
January 2009, 50% more homeowners at least one month behind on their payments, compared to January, 2008, according to Equifax.
Auto loans? Same trend, 60 day defaults up 18.9% year over year, to 1.9% of all auto loans.
Credit cards? More of the same, missed payments up 29.5% to 4.17% of all cardholders.
These stats foreshadow more bankruptcies [...]
Credit Crisis on U Tube
This is great, short video explaining how mortgage securities formed the basis for the current worldwide economic crisis.
