HOME AFFORDABLE REFINANCE PROGRAM (HARP) IS STILL AVAILABLE FOR QUALIFYING HOMEOWNERS The Federal Housing Finance Agency (FHFA) has announced a new publicity push to improve the public knowledge of the Home Affordable Refinance Program (HARP) and to educate homeowners on potential refinancing options that are available to them.    FHFA was created in 2008, when the President… [Continue Reading]

During the economic crisis, in an effort to slow the rate of foreclosures, and to ensure that homeowners had a fair opportunity to request and qualify for a modification of their loans or to make arrangements to cure mortgage defaults, Michigan enacted laws that required a mortgage lender to mortgage mediation to homeowners before they… [Continue Reading]

Michigan Governor Rick Snyder signed a bill that changes Michigan’s foreclosure laws.  The Governor signed into law SB 383 which changes the rules of redemption of a property that has been foreclosed.   The new law gives greater protection to homeowners with equity, but also grants new protection to lenders and foreclosure purchasers.    Michigan foreclosure law allows… [Continue Reading]

According to CoreLogic, in July, 2013, nationwide there were about 949,000 homes in some stage of foreclosure.  The national foreclosure rate is down 32 percent from 2012.  Also the Foreclosure inventory, which is the number of foreclosed properties for sale, declined 4.4 percent from June, 2013 and the year-to-date foreclosure inventory is down by 20… [Continue Reading]

In 2010, the United States Department of Treasury, allocated $500 million to Michigan as part of the Troubled Asset Relief Program’s Hardest Hit Fund to help homeowners in states hit hardest by the housing crisis.   Michigan announced recently that $100 million will be released to fight blight in Detroit, Flint, Saginaw, Grand Rapids and Pontiac. … [Continue Reading]

Everyone wants to know… “Can I discharge my back taxes?”   Income tax debts are a source for confusion among bankruptcy professionals and debtors alike.   It’s a very important question, but not the only question.   In order to determine whether or not your income tax debt, and the penalties and interest on that debt are dischargeable,… [Continue Reading]

Michigan law and Federal Law protects certain types of income and benefits from garnishment, levy or legal process. If your bank accounts have been seized under an order for garnishment, you may not be completely out of luck.  You may have legal rights and defenses available to you.  If your bank accounts were recently garnished… [Continue Reading]