Archive for the 'Foreclosure' Category

Not in a Hardest Hit state? You have not been forgotton -- EHLP program is here

Published by Gina Pogol on October 17, 2010 in Foreclosure . 0 Comments

For homeowners in Puerto Rico and the 32 states that didn't get "Hardest Hit" funds, assistance is on the way. The Emergency Home Loan Program provides up to $50,000 per eligible household to bring mortgages current and make up to 24 months of payments. Here are the eligibility criteria: * Experiencing hardship that ...

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How long does mortgage foreclosure take, anyway?

Published by Gina Pogol on October 06, 2010 in Foreclosure . 2 Comments

Yes, it's hit the fan again for big lenders trying to foreclose on defaulting homeowners. One after the other has put the brakes on and stopped their foreclosure sales as the controversy over "robo-signers" refuses to die down. When a single employee signs off on 6,000 foreclosures a day, it seems implausible that she has ...

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Private mortgage modification vs HAMP -- Take your best shot

Published by Gina Pogol on October 06, 2010 in Foreclosure . 9 Comments

Here's a common scenario: borrower contacts lender about a HAMP mortgage modification and sends in initial paperwork. Lender puts borrower into a trial modification program and borrower commences making a lowered payment. Meanwhile, the lender asks for a pile of additional forms to be completed and oodles of documentation of income, assets, hardships, etc. Weeks ...

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Mortgage credit help for military personnel

Published by Gina Pogol on September 27, 2010 in Foreclosure . 2 Comments

Are you in the US Army and do you need help paying your mortgage? You may get help now, thanks to a new partnership between Fannie Mae and the Army. The purpose of this initiative is to help those in the service or military families suffering from a death or injury who are having ...

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Mortgage Modification May Only Be the First Step

Published by Gina Pogol on September 21, 2010 in Foreclosure . 0 Comments

Unless you've been buried in a vault somewhere for the last three months, you've probable heard that about half of mortgage modifications fail and the borrowers end up in foreclosure anyway. What you might not have heard is the reason for these failures. And many who publish this news have apparently not thought it worth ...

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Does Filing Bankruptcy Stop Mortgage Foreclosure?

Published by Gina Pogol on September 09, 2010 in Foreclosure . 1 Comments

You missed a few mortgage payments and now you've received a Notice of Default or Notice of Acceleration of Mortgage. Disaster! You'd been talking to your lender about a mortgage modification or forbearance. Or you just started a new job and were optimistic about turning things around -- until that notice showed up. Is there ...

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Living in a Hardest Hit State? There May Be Help for You

Published by Gina Pogol on September 08, 2010 in Foreclosure . 0 Comments

In March, the Treasury cleared Housing Finance Agencies (HFAs) of five states where house prices dropped at least 20% from the peak to submit proposals to use funds from the Troubled Asset Relief Program (TARP) to help their homeowners. These states are Arizona, California, Florida, Michigan and Nevada. It's been six ...

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About Mortgage Credit Problems

Specializing in Bad Credit Mortgages… Because Life Doesn’t Always Turn Out Like You Planned. A sick child, a few late bills, or an unexpected expense can easily get you off track and your credit may suffer, but we don't think you should miss out on the opportunities available to everyone else.

Gina Pogol

Gina Pogol

About the Author:

Gina Pogol writes for an online media company about mortgage and finance. In addition to a decade in mortgage lending, she formerly consulted for Experian and other credit bureaus, and worked as a tax accountant for Deloitte. She has a BS in Financial Management from the University of Nevada.

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  • Capsiplex: Interesting idea, where can I learn more about this?
  • Plavuse: Ues, but not everthing black and white, something is gray :) Miranda
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  • Laura: similar situation to Crystal above. Except, our FHA mortage was included in BK, but we have kept the payments up and...
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