As the economy and housing market continue their rebound, new reports show that nationwide foreclosure rates are at their lowest level since 2006. While this is generally good news for homeowners struggling with mortgage debt, the reality is that foreclosure still remains a challenge for many homeowners. Approximately 57, 286 homes were foreclosed upon last  … Read more

If you’re buried under mortgage debt, understanding the full array of options available for your financial situation can help you get back on track with your payments. For homeowners, two of the most popular options are mortgage modifications and refinancing. Many borrowers must carefully look at these two options to determine the best choice for  … Read more

National data shows that mortgage debt problems are alleviating for homeowners throughout the nation, but not all states are experiencing the same levels of improvement. Despite reports showing an improving housing market, Ohio experienced over 90,000 foreclosures throughout the whole of 2012. A conference was recently held in Cleveland to identify why Ohio still faces  … Read more

The Home Affordable Modification Program (HAMP) is a relatively new program that was introduced by the Obama administration. As one of the many tools created to help homeowners avoid foreclosure, HAMP has very specific requirements. By understanding how HAMP works, homeowners will be able to take advantage of all the benefits this program provides. What  … Read more

Whether you’re applying for a new loan or credit card, it’s vital to do whatever you can to increase your chances of achieving new credit. Furthermore, you also want to ensure that your current profile is strong so that you are offered favorable interest rates. Simple mistakes will not only spoil your chances of getting  … Read more

Homeowners with mortgages that are backed by Fannie Mae and Freddie Mac may soon be receiving help on their mortgage payments. For those borrowers who are 90 days behind, a new effort called the Streamlined Modification Initiative will help those homeowners lower their mortgage payments. The Streamlined Modification Initiative is one of the largest foreclosure  … Read more

Despite recent headlines hailing the economic recovery, many homeowners are still feeling a financial pinch. In fact, it’s still not uncommon for a homeowner to find that his or her home is underwater. If you’re struggling with an underwater mortgage and are debating between a short sale or foreclosure, it’s important to understand the benefits  … Read more

A recent study published in the Proceedings of the National Academy of Sciences link mathematical abilities (or the lack thereof) to your risk of foreclosure. More specifically, if you lack the average math skills to divide 300 by 2, you’re far more likely to experience mortgage trouble and a foreclosure, according to the study. Five  … Read more

Falling behind on taxes and having to deal with the repercussions of tax debt with the IRS can be a stressful problem, affecting every aspect of your life. Fortunately, there are numerous options to eliminate or reduce your tax liability with the IRS. Whether you handle the situation yourself or hire a tax attorney to  … Read more

Aside from keeping you on top of your credit score, one of the main reasons to check your credit report on an annual basis is to ensure its accuracy – but what do you do when there’s a mistake? An error on your credit report can be as damaging as larger amounts of credit debt,  … Read more