It looks as if the majority (40) of the State Attorneys General have come to an agreement with the major lenders. On the surface it may look like win for home owners. Dig a bit deeper and it’s nothing more that a slap on the wrist to the banks and a slap in the face [...]
Bankruptcy can be a prudent course of action as a mechanism to achieve Foreclosure Prevention. That said, Bankruptcy is serious matter and should not be taken lightly. There is a library worth of Bankruptcy information on the internet so I’m going to boil this blog posting down to the brass tax. Chapter 7 Bankruptcy: This [...]
In my previous posting I provided some general guidance in terms of Foreclosure Prevention strategies and tactics. Beginning today I’m going to write five weekly articles which go into detail in terms of what to expect from each Foreclosure Prevention tactic. Let’s start with Loan Modifications. First of, it’s important to understand that between 2007 [...]
Many people call my office looking for advice as it relates to Foreclosure Prevention. Considering the fact that of 27 million mortgage loans originated over a five-year period found It was determined that 6.4 percent of the mortgages made between 2004 and 2008 have ended in foreclosure, and an additional 8.3 percent are at immediate, [...]
According to an August 16th article in the Tri-Valley Herald (Source: Rick Radin, Staff Writer), Foreclosure Evictions are on the RISE. The article suggests that the Oakland Alameda area has seen a 46% increase in Sheriff lock outs, and a 16% increase in Contra Costa County. To make matters worse, rents in the “Bay Area” [...]