The house is yours until the foreclosure sale is actually conducted by the bank. So when the leaking toilet in her condo damaged the unit below, my client, the homeowner, stands to be responsible for the damage. The mortgage lien only gives the lender the right to foreclose and take title to the property if [...]
December 2009
The $75 billion HAMP program designed to induce mortgage lenders to modify home mortgages owed by financially troubled homeowners isn’t working, and now the Obama administration has admitted as much. Due to recent coverage of the HAMP program’s failures by major media outlets, public awareness of the issue has been rising. This could be good [...]
I frequently have clients tell me that their homes are “in foreclosure.” Upon reviewing the situation carefully, however, I find that the phrase “in foreclosure” may mean different things to different people, and it may be important to distinguish between those different meanings. To me, as a lawyer in a judicial foreclosure state (where it [...]
Debt negotiation is sometimes argued as an alternative for bankruptcy. The only ones who benefit from this alternative most of the time are the debt negotiators, not the consumers. Consumers face high fees, tax consequences and ruined credit.
