There are many ways to answer the question: what happens when the mortgage forgiveness debt relief act expires. In this post we are going to cover what happens with respect to the taxes you owe on your property should you sell your home through a short sale. In the past, before the Mortgage Forgiveness Debt Relief Act was … [Read more...] about What Happens When The Mortgage Forgiveness Debt Relief Act Expires?
In attempting to prevent foreclosure, many homeowners consider a short sale or loan modification. Upon contacting or being contacted by a foreclosure rescue or mortgage modification service, some homeowners get taken advantage of by fraudulent ‘companies’ that don’t provide what they promise. (By the way, this … [Read more...] about Mortgage Assistance Relief Services-MARS-Requires Clear Disclosures From Foreclosure Rescue Companies
Washington DC August 2010 - Homeowners and consumers looking for reliable education about options to leave your home and that might be available to help them avoid foreclosure can now visit a brand new website launched by Fannie Mae called: KnowYourOptions.com. Even after several years of effort in trying to educate homeowners … [Read more...] about Options To Leave Your Home – KnowYourOptions.com By Fannie Mae
If you have already missed some mortgage payments to your lender because of financial hardship, it is best to contact your mortgage lender first to find out what options you have to get back on track to prevent losing your home. What it all boils down to is that your lender ultimately has be willing to agree give you loan … [Read more...] about What Should I Do If I Miss A Mortgage Payment Due To Financial Hardship?
The Obama Administration Federal Home Affordable Modification - HAMP Program and the Federal Home Affordable Refinancing - HARP Program were launched in March 2009 and continue to provide an opportunity for those homeowners who qualify. These two programs are designed to provide homeowners who face possible foreclosure or … [Read more...] about HAMP Program – Home Affordable Modification Program
Chances are, either you or someone you know is behind on their mortgage payment. If this is you, you have several options and choices ahead of you to either keep your home or let it go. One option is bankruptcy, another is a loan modification. We are going to take a look at loan modification as an alternative to a … [Read more...] about For Loan Modification: Requirements – Tips For What To Do
Most homeowners are generally familiar with many of the basic mortgage terms. Terms like mortgage amortization, APR and refinancing programs are pretty common knowledge. When you introduce some of the terms associated with loan modfication, most people aren't as knowledgeable. That is one of the primary reasons that the term … [Read more...] about Loan Modification: Important Industry Terms You Should Know
With the recent passage of the American Recovery and Reinvestment Act of 2009 mortgage lenders and mortgage servicing companies were encouraged to step up their loan modification programs and loan refinance efforts through the Federal Making Home Affordable Program. Many lenders and servicing companies have responded and are … [Read more...] about Loan Modification Or Refinance With Making Home Affordable – Important Update