The pains of loan defaults and when will it end? That banks were ill-prepared to handle the sudden onslaught of loan defaults and foreclosures is an understatement. The combination of panicked homeowners, lack of a standardized process, short-staffed loss mitigation departments, inexperienced real estate agents and falling home values resulted in chaos during 2008. “There [...]
FederalHousingTaxCredit.com The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. The following questions and answers provide basic information about the tax credit. If you have more specific questions, [...]
Arizona Attorney General Terry Goddard warns consumers to watch out for these loan modification red flags. If you’re looking for foreclosure prevention help, beware of any business that: guarantees to stop the foreclosure process – no matter what your circumstances. offers to make your loan more affordable and help you avoid foreclosure. instructs you not [...]
A short sale can be an excellent solution for homeowners who must sell and owe more on their homes than they are worth. Unfortunately, a number of myths about short sales have developed, and it is important to understand the reality of this process should you find it meets your current needs. Myth #1 – [...]