The nation’s glut of upside down mortgages is a headache for policymakers and banks alike. With nowhere to go for banks, many have resorted to outright bullying and subtle pestering to coerce borrowers into paying. Many borrowers just can’t do it—there is nowhere to make more money. One program, Home Affordable Foreclosure Alternatives—HAFA—is another opportunity  … Read more

Picking up the pieces and rebuilding a life for you and your family after a foreclosure may seem impossible. You fought hard to keep your home, and it now feels like the world has caved in. What’s worse, the loss of your home was just the tip of the iceberg: you have dealt with collection  … Read more

The Offer in Compromise process is notoriously difficult. The chances of your OIC being accepted are comparable to getting into a top-brass college. The OIC process is a case-by-case process, where one misstep can blow your entire appeal to pieces. You should know a few not-so-fun facts before you begin the lengthy OIC process. Officially  … Read more

You may be eager to lock in a super low mortgage rate through refinancing your existing mortgage. You should be aware that there is a slew of refinancing fees that are common to refinancing despite how good your relationship is with your lender. Many of these fees will look familiar, as you were required to  … Read more

Many real estate agents have become advocates of another tool from President Obama’s Making Home Affordable program called Home Affordable Foreclosure Alternatives. It is designed to help delinquent or struggling mortgage borrowers short sell their home if they don’t quality for a mortgage modification through the Home Affordable Modification Program—HAMP. Many homeowners, at first glance,  … Read more

It is a common refrain: “Your credit score is vital to your life, your happiness, your continued prosperity.” Regardless of how much this makes someone sound like a broken record, it is so true. Unless you are a financial maverick or can suitably live under a rock, there is nothing more essential to your financial  … Read more

For troubled mortgage borrowers, it may not be so obvious as to when it is appropriate to negotiate for a forbearance agreement instead of a mortgage loan modification. As financial tools that can save borrowers from foreclosure, they do the same for the bank. The bank, weighing its options and intent on maximizing profitability, will  … Read more

Offer in compromise negotiations are notoriously difficult to argue and win. Key to successfully mitigating your debt is to accurately show you are in no position to pay back all of the debt you owe the IRS—now or in the near future—and proposing a reasonable collection potential that is acceptable. Determining the right reasonable collection  … Read more

Everyone hates a foreclosure. Sellers, banks and even buyers often find themselves somehow at the end of a raw deal during every phase of a foreclosure. Even after the house is sold, sellers are often left with a load of new work, worries and problems in a foreclosure. Foreclosed homes come with baggage Even if  … Read more

The only thing certain during periods of pronounced economic uncertainty is that bean counters and lawyers at banks are hawkishly protecting their own interests. If you have a home loan and intend on pursuing a mortgage loan modification, you should know the letter of the law in your state. Here is another outstanding bank practice  … Read more