The confidence men are everywhere, on TV, the radio, online, "We Can get your mortgage company to lower the payments!!!" Well, the FTC has proposed a rule that third parties could not collect anything from you until they "obtain a documented offer from a lender." A rule designed to derail
Category Archives: foreclosure
Should I Stop Paying My Mortgage?
Close to five million homes in the US are worth less than 75% of what is owed on them. What if you live in one of them? You owe $200,000, your home is worth less than $150,000? Over half a million Americans have walked away, or taken the "
Download PDF Version Mortgage In Foreclosure, Will I Still Owe Money? (part one)
Michigan allows foreclosure of a mortgage by publication, an auction process, or through a lawsuit in a court.
Download PDF Version Foreclosure Crisis Deepening
American homeowners now $745 billion underwater on their mortgages, according to First American CoreLogic. Sounds low to me. 2.8 million properties foreclosed in 2009. And the trend? Bound to get even worse. Record high default rate now, as over 13% of
Download PDF Version Citibank Suspends Foreclosures
Or, Scrooge has a heart! Foreclosure sales will be suspended by Scrooge, er, Citibank, for 30 days, starting this Friday, December 18, until January 7, 2010. I suppose they don't want the pipes to freeze on homes they take back. They will also suspend evictions on houses they have already foreclosed on! No ...
Download PDF Version Fight Foreclosure! Fight Eviction!
A big shout out to attorney Paul Nicoletti for an imaginative legal argument that is halting evictions and foreclosures in Wayne County. Mr. Nicoletti has found that deputies conducting foreclosure sales, were not deputized by the Sheriff, as required by Michigan law. Therefore, the foreclosure sales were not valid, did not ...
Download PDF Version Foreclosures Still Increasing
Trans Union released a look at the last quarter statistics, and foreclosures continue to increase. So, there has been no noticeable impact from the mortgage modification programs, either by the mortgage companies or the government. None of the bad trends has ...
Download PDF Version Foreclosures Still Going Up
Trans Union released a look at the last quarter statistics, and foreclosures continue to increase. So, there has been no noticeable impact from the mortgage modification programs, either by the mortgage companies or the government. None of the bad trends has ...
Download PDF Version What Happens In A Michigan Foreclosure?
Foreclosure is the way the mortgage company takes your house if you do not pay them. There are other names, used for marketing purposes, like home equity loan, equity line, but the name has no legal significance. Mortgage just means debt secured by real estate. That is, you pledged your house as collateral for a loan. For there ...
Download PDF Version Banks Still Making Risky Bets
While Congress continues to balk at rescuing homeowners, for zero taxpayer cost, with judicial mortgage modification, the banks they bailed out with our money continue to speculate on derivatives, as reported by Shahien Nasiripour on the Huffington Post. Derivatives from the ...
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