The following post was contributed by Ken Andrews of the Doan Law Firm in California. Ken also runs a blog called “San Diego Predatory Lending”, where the original of this article is posted. The article discusses a bankruptcy defense based on existing law to dispense with second mortgages.

[Read more →]

The Bush Administration proposed a new foreclosure relief plan today in response to the mortgage crisis. The plan encourages lenders to write down loans and shift risk to the government-backed FHA program.

[Read more →]

Under pressure from consumer groups and troubled homeowners to prevent further collapse in the housing market, Senate Democrats and Republicans are working together to create a foreclosure relief bill.

[Read more →]

Presidential candidate Hillary Clinton unveiled a new four-part mortgage relief plan at a speech before 150 elected officials and students at the University of Pennsylvania yesterday. The plan calls for immediate action and direct government intervention.

[Read more →]

Government regulators eased capital requirements for Freddie Mac and Fannie Mae on Wednesday. The move is meant to ease the housing crisis, but critics say it will cause the two overleveraged firms to hang themselves at the expense of taxpayers.

[Read more →]

Federal Reserve Chairman Ben Bernanke publicly urged lenders yesterday to forgive a portion of the principal owed on loans. Bernanke insists the time has come for banks to consider this tactic if they want to prevent foreclosures. 

[Read more →]

Homeowners facing foreclosure are often desperate for a way out, but the agencies that claim they can save your home may not be able to help. Foreclosure filings topped 2 million in the United States last year — a 65 percent increase over the previous year.Mave Elise Brown of Housing and Economic Rights Advocates in California said innocence and desperation on the part of the homeowner can make them prime targets of such scam

Foreclosure rescue scams come in creative packages — the most popular are mortgage negotiation and title transfer. [Read more →]

By Moe Bedard Founder of Loan Safe 

Our forum at www.LoanSafe.org has been offering free foreclosure help to homeowners for the past 6 months and has become the #1 most trusted website for struggling borrowers. Over 25 homeowners have saved their home by getting mortgage help using the tools on this website to negotiate a loan modification.

LoanSafe.org is endorsed by CBS2 News and KCAL 9 News of Southern California as a safe website for homeowners to obtain free foreclosure information. You can see Loan Safe on on CBS 2 News right here and also a recent feature article [Read more →]

Project Lifeline is the new relief plan that grants a 30-day grace period to homeowners facing foreclosure proceedings. Critics say the plan is for banks, not homeowners.

[Read more →]

A Homeowner trying to stop foreclosure with Countrywide - Patie Ann

Ten yrs. ago, I purchased my 2nd house through Countrywide, because they were the “new home” lender and this was my 2nd new home. After 10 yrs. of on time payments, no lates and no bounced payments, we decided to re-finance. Well, Countrywide sent us to their “lesser” known affiliate (which they own), which was called Freedom Financial. Not knowing we were being sent to the slaughter house, we completed our refinance.

From the date of closure on this refi, we received a phone call (literally harassment) each and every month, before our payment was even due, reminding us that our payment was coming due (this was after we’d already received the monthly statement)…WAS THIS NECESSARY???? We had always been SOLID customers and bill payers - never anything late [Read more →]