For homeowners who find themselves struggling or unable to make their mortgage payments, there are several options that mortgage lenders can provide for temporary or long-term relief. Each lender has specific solutions and not all options may be available, but the following can provide a starting point to a homeowner’s research.
For temporary problems:
Reinstatement: Generally, a [...]
Tags: loan modification, tips
Adapted from an Associated Press article by Alan Zibel:
Most people trying to stave off a foreclosure are better off trying to negotiate changes in their loan rather than filing for bankruptcy.
For homeowners who have found themselves struggling to keep up with their mortgage payments after an increase in their rate or a change in their [...]
Tags: bankruptcy, loan modification
After having your home foreclosed, you may wonder whether there is an IRS tax bill lurking in the aftermath waiting to add more misery to a series of unfortunate events. The answer is somewhere between yes and no depending on whether the foreclosed home was your primary residence or not.
Foreclosure on a Primary Residence
The Mortgage [...]
Tags: IRS, loan modification, taxes
