Are you looking to lower payments on your mortgage? Despite the Obama administration's efforts, the New York Times reports that for many it's a frustrating process. It wasn't supposed to be this way - under the terms of the Obama $75 billion program, the government...
Beware those who promise to rescue you from foreclosure for an upfront fee. These "loan modification companies" suggest they will act as a third party between the homeowner and the loan issuer and, very often, do no such thing. "There is simply no reason to pay for...
Many homeowners are finding themselves in a debt trap and are looking to renegotiate the terms of their mortgage. To address this, a writer in the Washington Post has written a concise step-by-step guide on how to get it done. In sum: Establish that you would be...
According to a report issued by Mortgage Asset Research Institute, Rhode Island leads the nation in mortgage fraud. The ranking is calculated by comparing the number of fraud cases with the number of home loans made. The list, as it stands: Rhode...
Homeowners seeking mortgage relief can now go to a new Web site launched by the Obama administration to see if they qualify for loan modifications or refinancing programs. MakingHomeAffordable.gov asks visitors four or five questions to determine if they are eligible...
There's good news for those concerned about their mortgage. HOPENOW, a nonprofit alliance, unveiled its redesigned Web site to allow homeowners to connect directly with their mortgage servicer. Homeowners fill out the new online assistance form and receive...
At least with the wave of foreclosures and declining home values, things are looking good for prospective home buyers. According to the New York Times, the Housing Affordability Index is at its highest level since data was first collected in 1971. For you math and...
We all have one, but how many of us know what a FICO score is exactly? This New York Times article breaks down what this number, which is so crucial in determining how big a mortgage you can take out and how much interest you will pay, means. FICO scores range from...
The bad news just keeps pouring in on the homeownership front. U.S. foreclosure filings were up 81 percent in 2008 from the previous year with more than 2.3 million homeowners filing in all. Experts are forecasting more bad news ahead as homeowners struggle with...
With the spike in foreclosures across the nation comes a spike in foreclosure scams. With that in mind, the Federal Trade Commission has issued an outline for identifying and avoiding cons. The three most commonly reported cons are: The foreclosure prevention...
