Dealing With Property Division After Divorce

On May 31, 2011, in Divorce, by Justin Velthoen

She’s moving home to Wisconsin. You’re considering renting an apartment. It’s closer to work, and there’s no way you can keep up with mortgage payments with your household salary sliced in half. The marriage is over, you’ve accepted that. But what happens to the house? Settling on property division after divorce is often one of […]

I’m Working On A Loan Modification, But Is My Bank?

On May 20, 2011, in Foreclosure, by Justin Velthoen

In many cases, it’s a homeowner’s “Hail Mary,” a last-ditch effort to preserve their home. But getting approved for a loan modification, despite recent encouragement from the federal government, is not as simple as merely calling your lender and asking for one, or visiting its website and applying for one. There is nearly as much […]

FTC Rule Protects Homeowners From Mortgage Relief Scams

On May 20, 2011, in Foreclosure, by Justin Velthoen

With so many uncertainties, so much legal jargon, and so many documents that require the eye of a licensed professional, navigating the complexities of the foreclosure or short-sale process can be daunting to many homeowners. That – coupled with the desperate nature of people hoping to avoid foreclosure – makes many homeowners prime target for […]

Finding Mortgage Relief In Your 401(k)

On May 20, 2011, in Foreclosure, by Justin Velthoen

It isn’t what you’ve been saving for, and it will come at a price, but that 401(k) account you’ve been building for years might be the mortgage relief you need if you’ve fallen behind on your mortgage payments. Many companies allow employees to take money from their 401(k) accounts for what is called a “hardship […]

I’m Losing My Home to Foreclosure. What Can I Take With Me?

On May 15, 2011, in Foreclosure, by Justin Velthoen

Often bitter after losing their home to foreclosure, many homeowners look for ways to “get even” with a bank or lender. And one of the most common tactics is to strip a house of anything they can. Literally. While homeowners are fully within their rights to remove any personal property from a home following foreclosure, […]

How Making Homes Affordable Is Helping Homeowners

On May 4, 2011, in Equity, by Justin Velthoen

As the housing market bottomed out in 2009, and more and more people across the country began falling into foreclosure, President Barack Obama and the Departments of the Treasury and Housing & Urban Development stepped in to help. The result was the Making Home Affordable program, a chance for homeowners who were struggling with high […]

Loan Modification: The Pros and Cons

On May 4, 2011, in Credit Repair, by Justin Velthoen

To a homeowner already in foreclosure – or even one who can foresee foreclosure fast approaching – the prospect of a loan modification might seem like a Godsend. Suddenly, the inevitability of losing your home disappears, providing a fresh start with a current mortgage that lets you breathe easier because of its new terms. When […]