In a move that should not come as much of a surprise, Freddie Mac announced that mortgage servicers are authorized to provide unemployed borrowers with up to six months of forbearance. As a result, if you are an unemployed mortgage owner of a loan with Freddie Mac, you may apply for and receive six months […]
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A recent article in the LA times finds that personal bankruptcies in 2011 decreased from 2010. In 2011, 1.35 million Americans filed for bankruptcy protection. That is down from nearly 1.5 million Americans who filed bankruptcy is 2010. What is more alarming is the number of individuals who have filed bankruptcy in Riverside and San
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In a study that should surprise no one, sentiment among homeowners to sell their homes is at a record low. Among the general public, only 7% believe it is a good time to sell your home. During the time period of 1992 through 2005, 40-60% of homesellers believed it was a good time to sell
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A recent article on CNN finds that more homeowners are fighting to stay in their homes longer despite the attempts by banks to actively foreclose on their property. The article begins with a quote from an attorney saying that many of the attempts made by homeowners to stay in their homes are without legal merit.
What happens to your car if you decide to file bankruptcy? Understandably, this is a big concern for anyone thinking about filing bankruptcy in Riverside or the surrounding communities. Having a car in California is a necessity if you work, go to school, or have children. This is especially true in the Inland Empire where
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JPMorgan Chase is now the largest bank in the US, surpassing Bank of America, based on its total assets. With the merger of Chase and Washington Mutual, Chase holds a huge percentage of home loans resulting from the real estate boom of the last decade. In addition to Washington Mutual, Chase also owns EMC, another
Loan Modification Attorney – Chase Loan Modification with Principal Reduction Read More »
While making the decision to file bankruptcy is difficult, it may also be hard to choose the kind of bankruptcy that is best for you. For the average consumer, there are two types of bankruptcies that are available. Chapter 7 Bankruptcy and Chapter 13 bankruptcy. While both can provide relief from creditors, they have very
President Obama recently announced changes to the Home Affordable Refinance Program (HARP). HARP was originally created to help homeowners who had little or no equity to refinance their property to a lower market rate. Currently, the rate on a 30 year fixed loan is around 4%. Under the old plan, a person could refinance only
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The Riverside Press Enterprise has an interesting article about inland empire families who have walked away from their upside-down mortgages. In the article, these families defaulted in 2008 on mortgages that were upside down. Now that enough time has passed since they lost their home, they now qualify to purchase a home under FHA guidelines.
Loan Modification Attorney – Should you walk away from your home? Read More »
As more and more homeowners have successfully negotiated loan modifications, they are finding that getting a modification is only the beginning. In a recent article in the Boston Globe, 8 homeowners are filling a lawsuit against Bank of America. In the lawsuit, they allege that Bank of America has violated their loan modification agreements, damaged
