This year will be the last for homeowners to claim an important mortgage tax deduction. The 2011 tax season marks the end of the era for homeowners to write off their mortgage insurance premiums, a loss that is sure to impact many. The Rise In Costs As of January 1st, 2012 the mortgage insurance tax  … Read more

It has been a while since lenders have been able to be both powerful and profitable. With so many foreclosures and homeowners seeking loan modifications, many lenders have lost their sense of control over their own industry. As an attempt to make a comeback many are offering incentives to homeowners that refinance their mortgage. Expecting  … Read more

As if the foreclosure process wasn’t scary enough, there are big differences between how they are handled between states. These differences have the potential to restrict homeowner options for resolving their debts, as well as impact their chances of successfully avoiding a foreclosure. Key Differences There are two types of foreclosure proceedings, each of which  … Read more

As one of the larger lenders in the United States, Wells Fargo has been at the center of some negative news reports regarding stubborn lending practices. After Wells Fargo and several other big lenders became the forefront of scrutiny for stingy loan modification options, they have been working to turn over a new leaf. Since  … Read more

Short sales have never been the foreclosure alternative of choice among homeowners or lenders until recent years. As more homeowners were denied loan modification options or other mortgage debt solutions, short sales have gained popularity. However, they weren’t accepted without caution. In the past, short sales have been subject to some significant tax issues.    … Read more

Although the Federal Trade Commission has also been more vigilant in announcing and investigation foreclosure and loan modification scams, the surely can’t cover all the new forms of fraud that are occurring. In an effort to better protect consumers, the Better Business Bureau has developed a list of common mortgage debt relief scams that have  … Read more

A recent announcement by the Obama administration say’s that there could be help for foreclosures just around the corner. Well, maybe. The plan is for Freddie and Fannie to join a government pilot program that may help to minimize the damaging effects of foreclosures. Trying Something New A new pilot program is in the works  … Read more

Struggling homeowners nationwide will now have the chance to attend a free mortgage loan modification event held by one of the largest lenders in the United States. While many state governments and regional lenders have participated in similar events late last year, this is the first major event to be held by a lender.    … Read more

Short sales are gaining popularity among both delinquent homeowners and lenders as an alternative to foreclosure. While not everyone is happy to participate in the process, most have come to the realization that losing a home to short sale is minimally damaging compared to a short sale. However, most homeowners shy away from the process  … Read more

Although Freddie Mac and Fannie Mae have been at the forefront of negative mortgage lending news in recent months, efforts are being made to turn over a new leaf. Freddie announced an extension of their forbearance agreement program, aimed at helping jobless homeowners avoid foreclosure. A Short Break Good news is on the way for  … Read more