Foreclosure and Loan Modification Blog

Is There Such Thing as a Free House?

The short answer is: not really.

It is highly unlikely that your foreclosure lawsuit will end in you getting your house for free. The only way this could happen, is through multiple oversight s on the bank's part. Your lender would have to neglect to file a foreclosure action after you default on your payments of a matured loan AND they would have to neglect filing that action for several years. Each state has its own Statute of Limitations which determines how long the bank has to proceed with the foreclosure of your home.

COVID-19 Mortgage Forbearance Problems

The government has made it very easy for homeowners to get a forbearance on their mortgage during the pandemic. This has been a life line for many homeowners who have been affected financially by COVID-19. In this time of crisis, all a borrower has to do is pick up the phone and call their mortgage servicer and ask for payment relief. But how are homeowners going to pay the forbearance back? Are homeowners really being protected from delinquent marks and credit consequences?

[fa icon="clock-o"] Sunday, October 25, 2020 [fa icon="user"] Jordan Shealy [fa icon="folder-open'] debt settlement, mortgage, forbearance, hardship, mortgage servicing, financial crisis, coronavirus, covid19

Approximately 250,000 families enter into foreclosure every 3 months due to delinquent home loan payments or delinquent property taxes. Each of these homeowners has one thing in common: they have to make the decision of whether or not to fight for their home. However, if you want to fight the foreclosure and keep your home, it's time to find a foreclosure defense attorney. Here are some reasons why:

Are You Really a Victim of Bad Lending?

The process of obtaining a mortgage for your home can be very confusing. There are many parties involved in your mortgage and it can be easy to become overwhelmed by all of the new information. Taking out a mortgage is not as simple as just paying the price of the home over a certain period of time. There is interest factored into your payment along with principal, tax and insurance. When your house gets foreclosed it's easy to throw your hands in the air and say, “It's not my fault, I must be a victim of predatory lending!”. However, this is not always a reasonable conclusion. Here are the signs to look for in order to figure out if you are truly a victim of bad lending.

What Happens When My COVID19 Mortgage Forbearance is Over?

If you have secured a COVID-19 mortgage forbearance that works for you and your family this can be a great help. However, it is important to discuss with your mortgage servicer how they will be handling your past due payments at the end of the forbearance. 30 days before the forbearance ends you should assess your situation with your mortgage servicer to determine your next steps. Some servicers are requiring borrowers to make one large balloon payment when the forbearance ends, which is the worst case scenario for many homeowners. Other options are:

reinstatement
repayment plan
payment deferral
loan modification
refinancing

What is a Mortgage Servicer?

When you pay a mortgage on your home every month, it can sometimes seem like there are so many entities involved in the transaction. One entity you consistently keep hearing from is your mortgage servicer. What exactly does your mortgage servicer do?

[fa icon="clock-o"] Friday, August 7, 2020 [fa icon="user"] Jordan Shealy [fa icon="folder-open'] mortgage, mortgage servicers, mortgage servicing, normal servicing

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

If you can afford to pay off your mortgage early, should you?

[fa icon="clock-o"] Friday, January 15, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, mortgage

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

Foreclosure and Loan Modification Blog

Is There Such Thing as a Free House?

COVID-19 Mortgage Forbearance Problems

Why Should I Hire a Foreclosure Defense Attorney?

Are You Really a Victim of Bad Lending?

What Happens When My COVID19 Mortgage Forbearance is Over?

What is a Mortgage Servicer?

“The Big Short” Explains Foreclosure Crisis With Humor

Should You Pay Off Your Mortgage Early?

How To Get Off Your Lender's Naughty List

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