Recent Posts in Foreclosure Category
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Posted on Sep 22, 2011 By Jacoby & Jacoby
As it is, mortgages are complicated. They become far more complicated when borrowers fall behind on their payments. Banks routinely transfer the notes underlying a property. Fees and charges stack up, ...
Continue reading "Disorganization or dishonesty? Lenders are making it difficult to get straight answers" »
Posted on Sep 12, 2011 By Jacoby & Jacoby
Many Americans are aware that banks have been less than fair in their handling of foreclosures . They foreclosed when they could have modified. They filed false court documents. Though there were ...
Continue reading "Will the big banks ever be held accountable?" »
Posted on Sep 5, 2011 By Jacoby & Jacoby
Sheila Bair, former chairwoman of the Federal Deposit Insurance Corporation (FDIC) revealed some interesting information and opinions during her exit interview with The New York Times. Bair called ...
Continue reading "Banks Rushing to Foreclosure 99% of the Time" »
Posted on Sep 1, 2011 By Jacoby & Jacoby
Although home sales are currently on the rise in the Las Vegas area, this is mostly due to distressed sales, whether bank-owned properties or short sales . Considering the high number of delinquent ...
Continue reading "Home sales are strong in Las Vegas - but why?" »
Posted on Aug 28, 2011 By Jacoby & Jacoby
It is estimated that one in five American homeowners is subject to homeowners' associations. Homeowners' associations levy dues, which may range anywhere from $200 to $500 per month, to cover ...
Continue reading "Homeowners' Associations Taking Active Roles in Foreclosures" »
Posted on Aug 4, 2011 By Jacoby & Jacoby
Due to the backlog of foreclosure cases throughout the U.S., it appears that homeowners may be experiencing some unexpected relief. Nationwide, new foreclosure cases and repossessions are down by ...
Continue reading "Foreclosure Backlog May Provide Unexpected Relief to Homeowners" »
Posted on Aug 1, 2011 By Jacoby & Jacoby
With millions of property owners throughout the U.S. defaulting on their mortgages and facing foreclosure , two leading lenders are helping borrowers who are not even in default by easing the terms of ...
Continue reading "Easing terms on at-risk loans - are the big banks finally listening?" »
Posted on Jul 11, 2011 By Jacoby & Jacoby
Has your application for a loan modification been denied or delayed by your lender? It's an unfortunate reality that some homeowners desperately in need of a modification have found themselves ...
Continue reading "Denied and Delayed Loan Modification Applications" »
Posted on Jul 8, 2011 By Jacoby & Jacoby
If you are having trouble keeping up with your mortgage payments, whether due to job loss, an adjustable rate mortgage or other issue, you may be offered a reinstatement plan by the bank. Should you ...
Continue reading "Deciding Whether to Accept a Lender's Offer" »
Posted on Jul 6, 2011 By Jacoby & Jacoby
It can be difficult to immediately know whether a loan modification is right for you. Fortunately, there is a wealth of information available on the internet as well as from professionals in your ...
Continue reading "Helpful Advice about Loan Modifications" »
Posted on Jul 4, 2011 By Jacoby & Jacoby
One of the requirements for most loan modifications is a written explanation of what event or events have caused or will cause the borrower to fall behind on his or her mortgage payments. This ...
Continue reading "Hardship Letters - Applying for a Loan Modification" »
Posted on Jun 30, 2011 By Jacoby & Jacoby
The key factor in filing a successful loan modification application will be convincing the lender that you are suffering from a hardship that will be resolved if your mortgage payments are modified. A ...
Continue reading "Qualifying for Loan Modification: Hardships" »
Posted on Jun 27, 2011 By Jacoby & Jacoby
According to a recent study by the Center for Responsible Lending (CRL), it has been found that banks and other loan servicers often foreclose even though investors have more to gain from loan ...
Continue reading "Loan Modifications Prove More Profitable to Investors than Foreclosure" »
Posted on Jun 20, 2011 By Jacoby & Jacoby
In New Jersey, a class action lawsuit was recently filed against CitiMortgage on behalf of homeowners in the state who were denied mortgage loan modifications . The lawsuit alleged that the lender ...
Continue reading "Class Action Lawsuit Filed Over Loan Modification Denials" »
Posted on Jun 17, 2011 By Jacoby & Jacoby
How can mortgage loan modification help a borrower? It may offer several different options to ease one's financial situation, by: Refinancing your current mortgage Changing the original terms of ...
Continue reading "The Benefits of Loan Modification" »
Posted on May 24, 2011 By Jacoby & Jacoby
How long will it take your credit score to recover after foreclosure or a short sale? The answer to this question will vary depending on the unique circumstances of your financial situation. It ...
Continue reading "Rebuilding Credit after Foreclosure" »
Posted on May 18, 2011 By Jacoby & Jacoby
Home prices fell in February for the eight month in a row, nearly reaching the lowest point during the recession. The 10-city and 20-city indexes by S&P/Case-Shiller both fell 1.1% (not adjusted ...
Continue reading "February Home Prices Nearly Reach Recession Low" »
Posted on May 15, 2011 By Jacoby & Jacoby
RealtyTrac has reported that 239,795 properties received some type of foreclosure filing in March of 2011, signifying a 7% increase over the previous month. Though foreclosure filings were up from ...
Continue reading "U.S. Foreclosure Filings up 7%" »
Posted on May 12, 2011 By Jacoby & Jacoby
According to the Case-Shiller index, residential property values in 20 U.S. cities fell 3.3% from February 2010-2011. This signifies the biggest year-over-year decline since November 2009, landing ...
Continue reading "Residential Real Estate Prices in 20 U.S. Cities Experience Biggest Drop Since 2009" »
Posted on May 9, 2011 By Jacoby & Jacoby
According to the Greater Las Vegas Association of Realtors and Clark County property records, at least 25 houses in the Las Vegas area changed hands for more than $3 million in the last 15 months ...
Continue reading "Las Vegas Mansion Foreclosures on the Rise" »
Posted on Apr 4, 2011 By Jacoby & Jacoby
According to a March 21 st report by the National Association of Realtors, a record 33% of existing-home sales were made to cash buyers in February of 2011. In October of 2008 when the company started ...
Continue reading "Investors are Picking the Bones of the U.S. Housing Market" »
Posted on Apr 4, 2011 By Jacoby & Jacoby
In an internal report back in 2006, Fannie Mae gave early warning of abuses in the handling of foreclosures by lenders and their law firms. This report came long before regulators had launched ...
Continue reading "2006 Fannie Mae Report Gave Early Foreclosure Warnings" »
Posted on Mar 11, 2011 By Long Island Bankruptcy Attorney
As part of the Federal Trade Commission's continuing crackdown on scams that target homeowners behind in their mortgage payments or facing foreclosure , the FTC has charged a national operation with ...
Continue reading "FTC Charges Mortgage Relief Operation with Deceiving Distressed Homeowners" »
Posted on Mar 11, 2011 By Long Island Bankruptcy Attorney
WASHINGTON -- Economists at the New York Federal Reserve have concluded that a controversial 2005 law backed by banks and credit card companies pushed more than 200,000 people into foreclosure and ...
Continue reading "New York Fed Economists Say Bush-Era Bankruptcy Law Fueled Over 200,000 Foreclosures" »
Posted on Dec 15, 2010 By Long Island Bankruptcy Attorney
Although we are coming out of the recession, unfortunately many families are still struggling. Unemployment is still incredibly high, and bankruptcy filings and foreclosures have increased quite a bit ...
Continue reading "Statistics Show Recession Recovery Is Slow" »
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