Archive for the 'Foreclosure' Category

The Truth About Deficiency Judgments and Foreclosure

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

Enquiring minds want to know: if the bank takes back my house, can it also empty my bank accounts? If I walk away from my home loan, will a lender come running after me? Opinions on the Web vary widely, probably depending on whose axe the writer is grinding. Pro-lender bloggers say that walking away ...

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Want to Walk Away From Your Home Loan? There's a New Program for You!

Published by Gina Pogol on August 26, 2010 in Foreclosure . 0 Comments

If your home is worth less than your home loan, and you don't have a hardship that qualifies you for a mortgage modification, you may be considering strategic default -- that is, walking away from your mortgage and daring your lender to sue you. However, you'd rather not incur years of having bad credit and ...

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If Lenders Really Wanted to Modify Loans......

Published by Gina Pogol on August 14, 2010 in Foreclosure . 0 Comments

The lack of transparency surrounding mortgage lenders' modification decision processes is legendary, and the failure of HAMP is well-documented. Mortgage servicers say they're overwhelmed with multiple changes to the program. They claim the reason the many folks get kicked out of the program and don't receive modifications is that they fail to return paperwork. Borrowers ...

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Can Foreclosure Get You Fired?

Published by Gina Pogol on July 27, 2010 in Foreclosure . 0 Comments

It's no secret that your credit rating can come up in your job search. Experts say that 60% of employers check credit before making job offers, and 25% say that a bankruptcy or other severe credit event can keep you from getting a job with them. So those who walk away from mortgages or strategically ...

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Mortgage Modification: Does Outside Help Make a Difference?

Published by Gina Pogol on July 26, 2010 in Foreclosure . 1 Comments

If you're trying to save your home from foreclosure, you may be desperate. And hearing all the horror stories in the media and from your neighbors doesn't give you a lot of hope for getting a modification. So, when a company promises huge results, fast, shouldn't you jump on the chance before you end up ...

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Mortgage Credit Problems Spread to Wealthy Homeowners

Published by Gina Pogol on July 10, 2010 in Foreclosure . 0 Comments

Some new members are joining the mortgage foreclosure club, according to research firm First American CoreLogic and The New York Times. Mortgage defaults on million dollar plus homes far exceed those on other properties -- more than one in seven in fact! Unlike those with cheaper digs, who cannot save their homes due to unemployment ...

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Why Your Second Mortgage Can Derail Your Mortgage Modification

Published by Gina Pogol on July 01, 2010 in Foreclosure . 0 Comments

Many people with bad credit mortgages are in a bind. Even though they did everything right, getting a home loan with a short or no prepayment penalty, improving their credit rating, and putting themselves in a position to refinance into an FHA mortgage, conventional home loan, or even another bad credit mortgage but with a ...

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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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Recent Comments

  • Gina Pogol: Yes there is. Check any updates you get in the mail from your card issuer, and look for changes like new fee policies....
  • Gina Pogol: Ye, we heard the phrase "skin in the game" more times than we could count (although one journalist made a valiant...
  • Gina Pogol: FHA allows you to qualify for a mortgage 2 years after a bankruptcy discharge. Keep in mind though that you must...
  • Gina Pogol: Rachel, it's not that hard and fast--paying the smaller ones and letting the larger ones go--for example, always pay...
  • Gina Pogol: Alan, thanks for the question. When referring to the $7,500, we are talking about Federal income tax, not property tax....