Distressed homeowners face tough challenges when foreclosure looms over their heads and lenders appear unwilling to negotiate. Unfortunately, many homeowners have ended up in mortgage debt trouble simply because they fear dealing with lenders and the risk of rejection. However, an online consumer education firm has released a new software program that can help homeowners  … Read more

Short sales aren’t what they used to be and, in fact, many homeowners are finding the benefits of using them as an alternative to foreclosure. However, not all lenders will approve a short sale, nor are they all the same. In an attempt to better serve homeowners, the federal government crated the Home Affordable Foreclosure  … Read more

Refinancing a mortgage is a topic of hot discussion these days as rates continue to hover around historic lows. With federal programs pushing for more lenders to participate in refinancing offers, many previously unqualified homeowners may not be able to secure a lower payment and reduce the risk of  mortgage debt in the future. Inside  … Read more

Ally Financial Inc. is one of many financial servicers offering consumers ways to manage their money through online banking services, CDs, retirement and money market accounts. Ally also offers mortgage loans and auto financing options, but has recently faced financial trouble in their mortgage unit that lead to an industry shocking decision. Crisis In Mortgage  … Read more

Last week, the Florida Supreme Court heard arguments in a foreclosure lawsuit that could leave a major impact on how banks do business. The landmark case has the potential to unravel thousands of prior foreclosure cases and lead to in depth investigations into bank practices. Legal Eye Several Florida banks could face severe financial penalties  … Read more

In today’s economy, many people are considering second or third mortgages on their home. This can be risky and generally not advised for anyone who intends to use the money from the additional loans to float the payments on their original loan. Further problems arise if the original loan was to enter default and foreclosure  … Read more

Credit card offers come by the hundreds and it seems as though our mailboxes are always stocked with at least one offer per week. While many people find preapproved credit cards as a sign of their good credit standing, it could actually be a sign of trouble. Finding the right type of credit card depends  … Read more

Foreclosure scams have popped up around the country as more homeowners struggled to find solutions in recent years. Despite legitimate mortgage debt relief solutions, many people fell victim to what appeared to be reputable companies offering help. As the industry continues to suffer at the hands of mortgage debt, increased efforts have been aimed at  … Read more

Lending giants Fannie Mae and Freddie Mac have had their fair share of the spotlight in recent months. As the mortgage crisis struck in 2008, both of these companies took a huge hit profitability. When the foreclosure crisis began to stir up more trouble the fate of these companies became unclear. First Quarter Profit Fannie  … Read more

A foreclosure is typically the last type of house a buyer wants to consider when shopping for a home. Although there are some great deals to be found among foreclosures, there are also plenty that have some considerations before buying. Cautious Preparation One of the biggest issues surrounding the purchase of a foreclosure is the  … Read more