For homeowners facing foreclosure, understanding the process of foreclosure and the options they have to stop missed payments from leading to foreclosure is important. If a homeowner can get together with his or her mortgage lender early on, and the mortgage lender is willing to work with the homeowner, the lender may offer the homeowner… [Continue Reading]
Reverse Mortgages
The television advertisements offering older Americans an opportunity to get a reverse mortgage are well known. They describe offers and terms for homeowners, age 62 years or older, to convert the equity in their homes into money that they can use for their own needs and expenses. Not all reverse mortgages are a bad idea,… [Continue Reading]
Reaffirming Mortgage Debt After Filing for Bankruptcy
When a homeowner is facing foreclosure because of financial problems, and also has other significant debts that are unmanageable, bankruptcy may be the best way forward. However, when a mortgage debt is discharged in a Chapter 7 bankruptcy, the homeowner does not get to keep the house free and clear of debt. If the homeowner… [Continue Reading]
Deceptive Mortgage Servicers Held to Account
A federal judge in New Jersey recently denied a motion seeking to dismiss a homeowner’s breach of contract claim after the mortgage holder failed to grant a mortgage modification despite the homeowner having fulfilled the requirements of a trial modification agreement, according to news reports. The breach of contract claim was denied after U.S. District… [Continue Reading]
