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Written by Administrator
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Tuesday, 30 September 2008 |
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Our best tool to negotiate with mortgage companies is the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). State and Federal law require mortgage companies to follow these guidelines when originating home loans. Many mortgage loans have these TILA and/or RESPA violations which can and will be used as leverage when negotiating a favorable settlement for our clients. The law must be followed and failure to do so can result in significant damages your lender. So, naturally, they will be very amicable to working your loan out to more affordable terms to avoid costly litigation.
**Free Loan Modification Consultation - Click Here Now** |
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AARP Study Reveals Nearly 700,000 Foreclosures |
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Written by Administrator
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Sunday, 21 September 2008 |
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WASHINGTON, Sept 18, 2008 /PRNewswire-USNewswire via COMTEX/ -- Older holders of subprime first mortgages are 17 times more likely to be in home foreclosure than are older holders of prime loans.
A first-of-its-kind study by AARP debunks the myth that older homeowners are not vulnerable to the home mortgage crisis.
New research by the AARP Public Policy Institute (PPI) to be released tomorrow shows that for the six month period ending in December, 2007, 684,000 older Americans (aged 50 and over) were either in foreclosure or were delinquent in mortgage payments. That's more than a quarter of all foreclosures or delinquencies (28.1 percent). Delinquency normally refers to mortgage payments at least 30 days in arrears.
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Last Updated ( Sunday, 21 September 2008 )
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Written by Administrator
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Sunday, 21 September 2008 |
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HOUSTON — Hurricane Ike may give some homeowners lagging on their mortgage payments a temporary rescue from foreclosure.
Texas foreclosure help is available from ForeclosureForward.org |
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