Foreclosure and Loan Modification Blog

Falling Oil Prices Means Rising Foreclosure In Some States

Anyone who drives a car has noticed that gas prices are dramatically lower than they've been in years due to lower oil prices. While we're all happy that filling up our tanks is easier on the wallet, there is a down side: cheap oil can cause people who make a living in the oil industry to lose their jobs, and their homes to foreclosure.

When the price of oil plunges, companies in the oil business or businesses that service or support them, lay off some workers or pay them less. Those workers are more likely to be unable to afford their mortgages payments and fall into foreclosure. The oil business is employs a lot of people, so when it suffers, a lot of workers can suffer.

[fa icon="clock-o"] Wednesday, February 24, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification lawyer, foreclosure, foreclosure grief

Goldman Sachs recently announced that it has reached an agreement in principle to pay $5.1 billion to settle an investigation by the government into its activities involving residential mortgage-backed securities in the years leading up to the 2008 financial crisis.

$1.8 billion of the money is supposed to go to providing consumer relief. Goldman's press release states:

"The consumer relief will be in the form of principal forgiveness for underwater homeowners and distressed borrowers; financing for construction, rehabilitation and preservation of affordable housing; and support for debt restructuring, foreclosure prevention and housing quality improvement programs, as well as land banks.”

[fa icon="clock-o"] Friday, February 19, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, HAMP, foreclosure

The movie “The Big Short” was released over the holiday season to large audiences and critical acclaim. It tells the true story of some colorful traders and hedge fund managers who believed that the market in mortgage debt was set to collapse and of their quest to profit from it.

[fa icon="clock-o"] Tuesday, February 2, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure, mortgage, the big short

On November 6, 2015, a Texas jury awarded Mary Ellen and David Wolf $5.38 million because Wells Fargo Bank and Carrington Mortgage services submitted forged documents to foreclose on the couple's home. You read that right, a $5.38 million settlement for one home! Journalist David Dayen points out that if you multiply that amount by the roughly six million homes that have been foreclosed since the financial crisis began in 2008, you get $32 trillion. Compared to the $25 billion the banks paid as part of the National Mortgage Settlement, and the continuing foreclosure fraud, it sure seems like the banks got off easy.

[fa icon="clock-o"] Wednesday, January 27, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] mortgage fraud, foreclosure

Foreclosure is so stressful that you'll find yourself experiencing powerful emotions when you are faced with it. Your home is the most expensive, and most important purchase you will ever make, so the possibility of losing it is tough to reckon with. How do people do it?

When Life Hands You Foreclosure, Make Foreclosure Lemonade

When life hands you lemons, you make lemonade. Even if what's sour is something as consequential and life-altering as foreclosure. There are countless examples of people experiencing a terrible event in their life and turning it into a positive. It's hard for anyone in the middle of a difficult situation to imagine how something bad can be good in the long run. And to be fair, it may not. But you can maximize the chances of making your sour situation sweet by turning your attention to what you can do to fix it.

[fa icon="clock-o"] Monday, December 28, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, loan modification help, foreclosure

Foreclosure has a tremendous human cost. Families get kicked out of their homes, have their credit wrecked, and must find a new place to live. It's very difficult for the people who go through it, but there's also a nonhuman cost. Cue the Sarah McLachlin music, get your tissues ready. One of the most heartbreaking results of the foreclosure crisis is the effect it has on pets of some foreclosed homeowners.

[fa icon="clock-o"] Wednesday, December 23, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure, foreclosure grief, foreclosure pets

Your lender has been watching you all year, and knows if you've been naughty or nice. But if you make their naughty list by not paying your mortgage, they don't come down your chimney and leave you a stocking full of coal. They'll do something much worse and take your home, chimney and all. Unlike Santa Claus' naughty and nice lists, you should know for sure which one you are on. What is harder than knowing is getting off of the naughty and onto the nice list so you can stay in your home.

Your mortgage lender has a very simple rule for determining whether you're naughty or nice. It's determined by whether or not you pay your mortgage on time every month. If you pay on time, you get to be on the nice list. Keep up the good work. What's your reward? Keeping your home, and not being threatened with the 'f' word. That's not the four letter 'f' word, it's the one with 11 letters: foreclosure.

[fa icon="clock-o"] Friday, December 18, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] stop foreclosure, loan modification, foreclosure defense, loan modification help, foreclosure, mortgage

People have difficulty paying their mortgage for a variety of reasons. They lose their job, get divorced, or incur costly medical bills, to name a just a few common hardships. To make ends meet when a hardship happens, some are able to reduce spending on nonessential items like entertainment, vacations, and eating out. If that's not enough, things that are necessary, but can be put off, are. If reducing spending does not free up enough cash to pay for essentials like mortgage, car, and utility payments, tough decisions have to be made.

[fa icon="clock-o"] Wednesday, December 9, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, foreclosure

Foreclosure can be a confusing subject that mystifies all but the most well-versed professionals. All the ins and outs, the what have yous, and esoteric legal language make it difficult to understand the benefits and requirements of various options. However, there are ways to stop foreclosure that are simple and easy to understand for any homeowner. One of the easiest ways is a revolutionary concept that involves paying the money required to bring the loan current. It's called reinstatement.

[fa icon="clock-o"] Monday, December 7, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, foreclosure, reinstatement

Foreclosure and Loan Modification Blog

Falling Oil Prices Means Rising Foreclosure In Some States

Goldman Sachs To Pay $5.1 Billion To Settle Mortgage Scandal Claims

“The Big Short” Explains Foreclosure Crisis With Humor

Family Gets $5M From Wells Fargo For Robosigned Foreclosure Docs

The 5 Stages Of Foreclosure Grief

When Life Hands You Foreclosure, Make Foreclosure Lemonade

4 Reasons Pets Become Victims Of Foreclosure

How To Get Off Your Lender's Naughty List

What To Do When You Can't Pay Your Mortgage

Reinstatement Allows Delinquent Homeowners to Stop Foreclosure

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