Foreclosure

Foreclosure isn’t a good thing, but knowing more about how it works and the alternatives to it can be useful.

Hope for Homeowners Program Has Helped Just One Borrower

March 25, 2009 No Comments »

The Hope for Homeowners program introduced by the Bush Administration and HUD last year continues to be a major flop, as evidenced by a report from CNN. The foreclosure prevention program, which aims to put borrowers into more affordable loans ... Read More »

Locksmith Shot While Changing Locks of Foreclosed Home

March 17, 2009 No Comments »

A locksmith performing a routine change of the old locks on a foreclosed home in a suburb of Phoenix, Arizona was shot by a confused renter inside, according to the Arizona Republic. The incident took place at 4:30 in the ... Read More »

Happy Holidays, We Won’t Foreclose on You, For Now

November 20, 2008 No Comments »

Both Fannie Mae and Freddie Mac have announced that they will suspend all foreclosure sales and evictions of occupied homes from November 26 until January 9. That includes 2-4 unit properties as well, many that probably aren’t truly owner occupied.  ... Read More »

Foreclosure Prevention Efforts Worsen

September 30, 2008 No Comments »

Efforts to keep at-risk borrowers in their homes have actually worsened over the past year, according to a report released by the State Foreclosure Prevention Working Group. As of the end of May 2008, 305,000 subprime loans were in the ... Read More »

Beware of Foreclosure Assistance Programs

September 16, 2007 No Comments »

As foreclosures continue to rise, more “angels” are on the lookout for people to “save”. If you’re behind on your mortgage payments, you may have noticed an increase in solicitations via mail or telephone from companies offering to help you ... Read More »