Mortgage Foreclosure & Refinance Resource

As hundreds of thousands of American home owners fall behind on their mortgage payments, more people are turning to short-term loans with sky-high interest rates just to get by.
While figures are hard to come by, evidence from nonprofit credit and mortgage counselors suggests that the number of people using these so-called “pay day loans” is [...]

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To understand what’s going on, go back to the weekend of Mar. 15-16, when the Fed encouraged JPMorgan to buy Bear Stearns at a fire-sale price to keep Bear from going under and dragging other banks down with it. Even at $2 a share, JPMorgan wasn’t willing to do the deal because lots of [...]

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NOBODY wins when a home enters foreclosure — neither the borrower, who is evicted, nor the lender, who takes a loss when the home is resold. That’s the conventional wisdom, anyway.
The reality is very different. Behind the scenes in these dramas, a small army of law firms and default servicing companies, who represent mortgage lenders, [...]

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