The foreclosure crisis hasn’t just pummeled middle class America, even the upper class as felt the wrath of a sputtering mortgage lending industry. More million dollar homes are in foreclosure than ever before, bringing new challenges to the banks who own those multimillion dollar mortgages. Big Mortgages, Big Problems Defaulting on an average sized, moderately  … Read more

Residents of Illinois will get a chance to take advantage of a unique program designed to help homeowners at risk of foreclosure. Although numerous states have held workshops and conventions for putting homeowners in touch with mortgage debt relief solutions, Illinois is the first to create a program of this nature. Changing The Way The  … Read more

Second  mortgages have become more popular among homeowners in recent years. There are numerous reasons why people take out a second  mortgage on their home including  needing money to renovate or update the home, or send a kid to college. Unfortunately, there are some situations in which people take out second mortgages to stave off  … Read more

Dealing with creditors is not something anyone wants to face, especially alone. Since your creditor holds all of the power of approving a debt negotiation or settlement agreement, you are essentially left living on the hope that they will help. Although it isn’t impossible to pursue credit negotiations on your  own, many people find hiring  … Read more

You don’t have to be in a financial hardship or overwhelming debt to enter credit card negotiations. In fact, having your account in good standing is a great time to negotiate with your creditor. Although they may not admit it there is always room for your creditor to lower your interest rate, which can save  … Read more

With all of the foreclosure and mortgage debt troubles our nation has faced over the last few years, it is a surprise that anyone is considering a new mortgage these days. Taken as a promising sign for industry recovery, new mortgages are essential for the re-growth of a struggling market. However, buyers shouldn’t act too  … Read more

Refinancing isn’t only for mortgages. You can also refinance your car loan to lower your payments and free up some cash for other expenses. Like refinancing a mortgage, refinancing a car loan also comes with some additional considerations. Risks And Benefits Although many people never think to apply for a refinanced car loan, it can  … Read more

With all eyes on the mortgage industry there are some signs indicating a recovery could be on the way. Although no one expects the recovery to be groundbreaking, any improvement is welcomed over foreclosure these days. Even more interesting is the fact that despite the small inches of recovery in the market, mortgage rates are  … Read more

Depending on who you ask these two concepts may be used interchangeably. There are some who consider a short sale to be a strategic default, while others view a short sale as a foreclosure alternative that has nothing to do with defaulting. However, there are some important distinctions that should be made between these two  … Read more

Most people are aware that an unsolicited foreclosure notification is serious business, but what about an unsolicited letter offering mortgage relief? One of the most notable signs of a mortgage scam is unsolicited contact from a mortgage service company or third party agency. While homeowners have been cautioned against following through with services offer without  … Read more