image credit: dreamstime Countrywide, number one offender, writer of the most sub-prime mortgages (the list goes on) admits bilking homeowners, in foreclosure, and even including those who had successfully completed Chapter 13 cases, usually filed to avoid foreclosure, out of tens of millions of dollars. The Department of Justice, through the United States Trustee’s [...]
foreclosures
Foreclosure or not? I’ve been using the f-word a lot here in my Summerville, South Carolina law office. (That’s “foreclosure,” not the other f-word, by the way.) And I’ve noticed a transition in attitudes among clients. It’s gone from, “I don’t want foreclosure no matter what” to “let’s discuss what happens if my lender forecloses.” [...]
I am not the only blogger who bemoans the Administration’s feeble foreclosure prevention program. The Huffington Post has an excellent story on the failure of HAMP, due to not getting the mortgage companies to voluntarily reduce the principal balances. That is, to agree to lower the total amount owed on a house. What happened is, [...]
Just because you have not been foreclosed on yet, does not mean you will be getting a mortgage modification. image by: dreamstime Foreclosures will be increasing again, as the freeze on foreclosures by Fannie Mae and others has ended. Having further depressed the housing market with all the foreclosures already completed, mortgage companies appear to [...]
image credit: dreamstime One of the many problems with Mortgage loan modifications is, the bank virtually always forces homeowners to give up their rights, under consumer protection laws, to sue the mortgage company. In other words, say there were Truth in Lending law violations committed against you by your mortgage company. Now, in order [...]
image credit: dreamstime Chapter 11 bankruptcy (link to information on website of Detroit Michigan bankruptcy attorney Kurt OKeefe) is not just for individuals and for profit corporations. As with Chapter 7 and Chapter 13 bankrupty cases, filing Chapter 11 stops foreclosure, garnishment (explained by southern Oregon bankruptcy attorney Karen Oakes) and any other collection activity [...]
