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 […]

You Credit Score, How It All Adds Up

On April 30, 2011, in Credit Repair, by Justin Velthoen

Swimming through the sea of numbers that ultimately decide your credit score, itís important to remember one thing: decisions you make every day really do matter. The temptation for many people is to get hung up on the mathematics of formulas like loan-to-value and debt-to-income ratios. And itís true, those numbers do matter when the […]

How Debt And Taxes Can Follow Foreclosure

On April 30, 2011, in Foreclosure, by Justin Velthoen

[youtube]V1DzsRCg7k4[/youtube] Adding insult to injury, many homeowners are surprised to learn that even after losing their home to foreclosure, they still are potentially on the hook for a great deal of money. Depending on the type of mortgage and the state of residence, a homeowner facing foreclosure should get the answers to two important questions […]

Getting Out From Under an Upside-Down Home Loan

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

In today’s housing market, selling any home – even if you’ve managed to build equity in the property – canbe a challenging prospect. With so many properties available, particularly low-priced, bank-owned homes, it’s surely a buyer’s market. So if you find yourself in the common position of owing more on your homethan it’s currently worth, […]

The Bankruptcy Secret That Many Lawyers Donít Reveal

On March 29, 2011, in Bankruptcy, by Justin Velthoen

A bankruptcy secret is the last thing you want to know exists as you stressfully try to steer your way out of the foreclosure process. But itís out there, and any homeowner who is relying on the expertise of a legal professional for bankruptcy guidance would be understandably distraught to learn that that same legal […]

Protection for Homeowners

On February 22, 2011, in Foreclosure, by Justin Velthoen

Recently, the FTC (Federal Trade Commission) came out with a new ruling to protect struggling homeowners. In the Mortgage Assistance Relief Services (MARS)†rule, it is illegal for anybody claiming to offer mortgage relief services to charge advance fees and must now put some disclosures into writing while also making the homeowner aware of any risks […]

Save My House From Foreclosure

On February 5, 2011, in Foreclosure, by Justin Velthoen

Donít ever let someone charge you for help that should be free! There are plenty of scam artists out there that will try and talk unaware homeowners into paying them for a service that is free of cost.