Restrictions on Collections Activities
It is important for homeowners to understand that they are protected by the law whenever they are facing any type of collection activity, including late or back payments on their mortgage. The two federal laws that pertain to these situations are the Fair Debt Collection Practices Act and the Fair Credit Reporting [...]
Tags: fraud, homeowner's rights, scams, tips
If you are facing foreclosure, don’t feel that your fate is locked in to losing your home. There are options which can help you save your home, but you must act quickly as most of them are time sensitive.
The best option for you depends on your specific situation. For example, a repayment plan may be [...]
Tags: bankruptcy, FHASecure, government assistance, government insured, guide, HOPE for Homeowners, IRS, loan modification, taxes, tips
A loan modification can help a homeowner permanently change one or more of the terms on the mortgage to make the monthly payments more manageable. This can include lowering the interest rate, increasing the term of the loan or adding missed payments to the loan balance.
The loan modification process is not easy, involving persistent phone [...]
Tags: guide, loan modification, tips
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
