It is estimated that nearly one in four homes is considered underwater or worth less than what is owed on the mortgage loan. As the number of sinking mortgages and foreclosures continue to hover around all time highs, many homeowners are left feeling trapped and hopeless. Although there are several options available, many people simply  … Read more

The American Dream of owning a home has turned into a nightmare for many people in recent years. The economy and lending industry have both suffered terribly and many people have been left facing foreclosure. Luckily, there are some ways that can help fight off mortgage debt and stop an impending foreclosure. The Old and  … Read more

In 2007, an important piece of legislature was passed aimed at helping homeowners suffering at the hands of foreclosure. The Mortgage Forgiveness Debt Relief Act protects those who restructured their mortgages, pursued a short sale or lost the home in foreclosure by waiving the tax penalties on the transactions. Now that the bill is set  … Read more

One of the biggest reasons people file for bankruptcy is to protect their assets from creditors, especially a home. The bankruptcy process can stop a foreclosure and allow the debtor time to resolve their mortgage debts, but there are some additional considerations. Resolving Mortgage Debts The first point to consider is the type of bankruptcy  … Read more

People experiencing trouble paying their mortgage fear having their homes taken through foreclosure. While this is a legitimate concern, not all lenders are quick to foreclose. Further, there are differences between states that dictate how the foreclosure process is managed. Depending on a person’s financial situation there may be ways to prevent foreclosure in bankruptcy,  … Read more

After a lengthy court battle an agreement has been reached imposing a settlement deal for several big  banks for their role in performing unlawful foreclosures. Many homeowners were forced out of their homes into foreclosure and, for others, bankruptcy. The settlement deal proposes nearly $26 billion in national payouts for victims and to revamp lending  … Read more

An increasingly popular mortgage loan for our aging population is a reverse mortgage. These loans allow a consumer to convert a portion of their home’s equity into cash that can be used to pay for miscellaneous expenses. Many find these loans enticing because they view it as putting their hard earned equity to work. While  … Read more

Getting a mortgage after a bankruptcy is not impossible. Although you may face some additional challenges than the traditional applicant, you are by no means banned from owning a home ever again. In fact, there are a few things you can do to set yourself apart and put your best foot forward towards a new  … Read more

Getting behind on your mortgage payments can be a scary time. With more foreclosures popping up around the neighborhood, it seems like we all know someone who has been or will be affected by a foreclosure. In many cases, a foreclosure can be avoided if the right steps are taken. In fact, there are several  … Read more

One of the main appeals for many consumers filing for bankruptcy is the ability to manage mortgage debts and prevent a foreclosure. While this may be possible for most filers, there are some aspects of mortgage debt to consider when pursuing bankruptcy. Type Of Mortgage Most people who enter bankruptcy are looking to resolve their  … Read more