With the recent problems in the housing market, many homeowners have found themselves with underwater mortgages, a term relatively foreign to most until recently.  An underwater mortgage is simply a situation in which a homeowner owes more than the market value of the property.  Underwater mortgages can cause financial strain and devalue the most valuable  … Read more

Turning to credit cards is a common mistake that many consumers make when faced with a cash shortage.  In particular, those who have faced unemployment situations in the past few years and found their savings accounts depleted prior to finding a new job have relied on credit cards.  While some credit debt can be good,  … Read more

The term “short sale” has become common in the current housing market.  However, few homeowners actually understand what it means.  While some understand it to be some sort of way of quickly unloading a house for legal or financial reasons, others think of it as little more than an alternative term for foreclosure.  But what  … Read more

The recent tough economic times have a lot of struggling homeowners fearing that foreclosure may be on the horizon if they do not proactively take charge of their situation.  There are, fortunately, alternatives to foreclosure out there.  One such option is mortgage modification. What is Mortgage Modification? Under certain circumstances, lenders and homeowners may renegotiate  … Read more

Mortgage debt options haven’t been the easiest to secure with lenders in recent years as many have held stubborn lending practices. As a homeowner, you do have some recourse when it comes to being denied options like a mortgage modification. Try Again If your lender has denied you a mortgage modification there are few of  … Read more

Short sales are usually not the first choice of a homeowner experiencing mortgage debt. Many people are surprised to find out that a lender isn’t usually a big advocate either. However, in today’s housing market a short sale is becoming the better alternative to foreclosure when all else fails. The Lender’s Stake While it is  … Read more

Mortgage relief options are available, but many people are unable to secure the help they need. Although the stubbornness of lenders was once to blame efforts have been made to open up lending practices and better assist homeowners. So why are so many people going without help and ending up in foreclosure? Vigilant Action One  … Read more

Tax debt is no easy matter. In fact, most people dealing with unpaid taxes often avoid the IRS because they feel they have little recourse. While some tax debts are not eligible for discharge in bankruptcy, there are still options available for resolving these debts. Facts About Tax Debt First, some tax debts are eligible  … Read more

It is no secret that Americans are less than pleased with the way the mortgage industry has been affected by the economy in recent years. The foreclosure crisis and underwater mortgage troubles have taken a toll on many homeowners. A recent survey has found that the level of disappointment and confusion goes deeper than once  … Read more

Homeowners are not the only ones that suffer when mortgage debt issues arise. Although they may take the brunt of the impact, mortgage debt goes far beyond the pockets of homeowners. Mortgage security investors also take a hit in the form of losses. Now, several big banks are being sued over investor losses due to  … Read more