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Mortgage Refinance and Loan Modification News and Guides

White House Opposes Bankrupty as Protection from Foreclosure

February 28th, 2008 · No Comments

Following up on yesterday’s post today president George Bush and the two highest economic officials in the US government all objected strongly today to plans in Congress for changing bankruptcy laws to protect homeowners caught up in the mortgage meltdown. The idea of allowing bankruptcy judges to restructure loans ‘wouldn’t be fair to millions who [...]

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Tags: Foreclosure Information · Mortgage Legislation

Mortgage Servicing Firms Have Wrong Incentives

February 19th, 2008 · No Comments

One problem is that mortgage servicers make their money from late fees and other penalties charged to borrowers.”There’s a built-in incentive for the servicing industry to really rip people off,” contends Richard Gaudreau, a Salem attorney who specializes in consumer bankruptcy law. “If they can throw your payment into a suspense account because it’s a [...]

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Tags: Foreclosure Information · Mortgage Notes · Mortgage Scams

February 15th, 2008 · No Comments

Chart of foreclosure fillings of Prime vs Sub-prime mortgages.

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Tags: Foreclosure Statistics