O.K., so there are thousands of scammers out there. I’ve always maintained that it’s pretty easy to spot them. However, even a number of my own relatives have fallen prey to scammers. So here are some tips to avoid the sharks.

Here are some examples of scams related to mortgage modification and foreclosure avoidance.

Foreclosure rescue and [...]

Often homeowners need more time and seek to delay the foreclosure process – to get more time to settle on a Workout Plan that suits them. These are the Top 7 ways to buy more time.

Constant communications with lender – That’s right, good faith communications about your plans and actions to resolve your situation and [...]

Earlier this week we got the news that Fannie Mae has instituted the “Deed for Lease” Program. This is a great innovation that may make the “transition” from homeownership to rentership easier for families.

The Program allows borrowers to transfer their property back to the lender in a Deed-in-Lieu, then lease back the house [...]

Last week the administration extended the homebuyer tax credit. The tax credit, which was set to expire Nov. 30, has been extended through April 30, 2010 with a 60-day extension if a binding contract is in place prior to deadline. It also was expanded to include existing homeowners who have lived in their [...]

Note: Unfortunately we no longer recommend using the forensic loan audit company – Denovo Financial Solutions. They performed poorly for several of clients we referred to them. In fact, they even took $3,000 from one of our clients but produced no results and failed to honor their own refund policy. We include this interview on [...]

The Obama administration is “basking in the glow” of some impressive numbers of loan modifications during the June-September timeframe. The “trial modification initiative kick-started the fledgling Making Homes Affordable Program and its modification section called Home Affordable Modification Program.

The numbers out today claim the Program has now reached one in five eligible homeowners, but most [...]

Many of our clients are bankrupt…they just don’t admit it to themselves and they have not yet filed – and, maybe never will. It’s too bad, because they could be enjoying the protections our legal system affords them…protection and relief for when financial things have gone awry

As part of a foreclosure workout strategy you [...]

 
WASHINGTON — Thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae, under a policy announced Thursday.

The government-controlled company, through its new “Deed for Lease” program, will allow borrowers to transfer ownership to Fannie Mae and sign a one-year lease, with month-to-month extensions after that.

The [...]

Things are getting nastier, that’s for sure. It’s getting harder to get “out-of-line” and move to the front of the line for a decent loan modification. Over 10,000 homeowners are sumitting loan mod applications each day…and fewer than 10% are getting good modifications. You must be in default and you must flex the muscle of [...]