loan Tag

07 Aug TARP and HAMP Require That Foreclosure Be Suspended

A mortgage lender which received TARP funds, or which voluntarily signed up for President Obama's HAMP program, must suspend a foreclosure action while a borrower's mortgage modification application is pending. That's good news. HAMP is the modification program of the Home Affordable Plan. (HARP is the...

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11 Feb Mortgage Bankers Want Your Home, Not Your Money

Congress is considering changes to the Bankruptcy Code that would allow the same judicial modification of home mortgages that is currently allowed for vacation homes, business property, and other assets. Letting families keep their homes by reducing principal and interest to market value would let tens of thousands of homeowners resume making their mortgage payments, halt many of the 46,000 foreclosures that are taking place each week, and stop the glut of foreclosed homes on the market that are continually ratcheting housing prices downward. But surprise, surprise, the Mortgage Bankers Association opposes these changes. Why? Let's look at the facts.
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26 Jan Tax Refund Loans–A Bad Idea

Since tax season is on hand, the media is full of ads touting tax refund or "refund anticipation" loans. "Get your money NOW!" "In today's economic climate, can you afford to wait for your tax refund?" Well, the easy answer is, especially in today's economic climate you should not get a tax refund loan. Why not? It costs you, big time.
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