Home Foreclosure Rescue Scams Rise

US Administration announced they have raised their efforts to stop predatory mortgage relief companies preying on struggling homeowners looking for companies to help negotiate better mortgage terms that yield a more affordable home loan payment. As the mortgage crisis continues to unfold, the FBI says incidents of suspicious financial activity banks reported to the bureau [...]

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Jersey Lawmakers Approve Mortgage Relief to Stop Foreclosures

Legislation to help distressed homeowners refinance their houses or continue to live there as tenants while they reorganize financially has been approved in New Jersey. The Mortgage Stabilization and Relief Act cleared the Assembly and Senate Monday. It now heads to Gov. Jon S. Corzine, who indicated he would quickly sign it into law. The measure [...]

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Paulson Looking for New Ways to Lower Mortgage Rates

Many mortgage insiders hope that the government jumps on board with the mortgage relief that has been promoted by Sheila Bair’s FDIC loan modification plan the renegotiates the mortgage balance to be reduced to 38% of the borrowers income versus the housing expenses.  This will help millions of distressed homeowners avoid foreclosure and remain in [...]

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Foreclosure Preventions with Bankruptcy Judges Given Authority to Modify Home Loans?

House Financial Services Committee Chairman Barney Frank on Monday said that if home foreclosures are not on the decline early next year he expects lawmakers to revive efforts to change bankruptcy law and let judges adjust the terms of mortgages. “If we come back in February and there is frustration that efforts at reducing foreclosure [...]

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