Archive for May, 2008

The American Housing Rescue and Foreclosure Prevention Act

Friday, May 30th, 2008

Will The American Housing Rescue and Foreclosure Prevention Act and Senate Bill 2636, The Foreclosure Prevention Act help homeowners to avoid foreclosure? Lately, the popular press has been cranking out articles about proposed legislation that would allow the federal government to help homeowners who are behind on payments.This week, I had a client send me a snippet from his local U.S. Representative, trumpeting the fact that he’d voted in favor of the latest attempt by the U.S. House to address the foreclosure crisis: The American Housing Rescue and Foreclosure Prevention Act.  (more…)

If you enjoyed this post, make sure you subscribe to my RSS feed!

Posted in Foreclosure Assistance, foreclosure legislation | 12 Comments »

How to Avoid Foreclosure: Expert Guidance, Totally Free of Charge

Thursday, May 22nd, 2008

There’s been quite a big response to the Countrywide hardship letter incident. If you’re a nerd, and you have time to follow the bizarre world we call the mortgage industry, then maybe you’ve already heard about it already, which I described in the previous post.

(more…)

If you enjoyed this post, make sure you subscribe to my RSS feed!

Posted in Avoid Foreclosure, Foreclosure Assistance | No Comments »

What Do Mortgage Company Execs Think About Homeowners in Foreclosure?

Wednesday, May 21st, 2008

Have you ever wondered what mortgage company execs say about homeowners trying to avoid foreclosure behind closed doors? An e-mail attributed to Angelo Mozilo, CEO of Countrywide Home Loans, (”America’s #1 Home Lender”) might give you some idea.

(more…)

If you enjoyed this post, make sure you subscribe to my RSS feed!

Posted in Avoid Foreclosure, Foreclosure Assistance | No Comments »

Mortgage Lender Wants Double Standard, Threatens Bankruptcy

Monday, May 12th, 2008

How would a mortgage company respond if THEY were in foreclosure, and would they agree to the same terms that they serve up to borrowers who are trying to avoid foreclosure? GREAT article by Floyd Norris in the May 9, 2008 edition of the New York Times.  Residential Capital, known as RESCAP in the business, is owned by General Motors and Cerberus Capital.

(more…)

If you enjoyed this post, make sure you subscribe to my RSS feed!

Posted in Loss Mitigation | No Comments »