Home Affordably Modification program (HAMP) & Bankruptcy
Nov 09, 2010
Previously, borrowers actively involved in a bankruptcy were eligible for HAMP at the servicer's discretion; now wervicers must consider borrowers in active bankruptcies for HAMP modifications if a req...
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STRATEGIC FORECLOSURES – IS IT BETTER TO SAVE YOUR HOME OR WALK AWAY?
Nov 09, 2010
One of the most talked about topics in the area of mortgage default is the issue of "strategic defaults". A strategic default occurs when a homeowner is able to pay his/her mortgage, but chooses to sto...
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Is strategic default a good strategy for Michigan foreclosures?
Nov 07, 2010
I recently saw a piece on 60 Minutes talking about a process called "Strategic Default." With a strategic default, a homeowner intentionally stops paying their mortgage and lets the bank foreclose on t...
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Chapter 13 Bankruptcy and Strategic Defaults
Nov 04, 2010
Many homeowners may want to discuss a modification with their mortgage company, but many are finding that if they are current on their mortgage payments, the mortgage company will not even entertain th...
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Legal Defenses to Avoid Home Foreclosure in Michigan
Nov 04, 2010
Truth in Lending Act (TILA) violations enabling rescission and/or damages. If your loan is a refinance, the bank must have provided you a set of disclosures at the time of closing. If these disclosu...
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