Peter Miller wrote a great blog post about using reverse mortgages as a foreclosure prevention device. Many seniors may get much needed assistance in avoiding foreclosure with a reverse mortgage.
To make a reverse mortgage work as a foreclosure prevention device you generally need to be age 62 and above (there are some exceptions) and you [...]

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Presidential candidate Hillary Clinton is pushing for a 90 day ban on foreclosures and a 5 year “freeze” on adjsutable rate mortgages.  Clinton sent the following letter to Treasury Secretary Henry Paulson calling for needed steps to end the foreclosure crisis.
December 3, 2007
The Honorable Henry M. Paulson, Jr.
Secretary
United States Department of the Treasury
1500 Pennsylvania Avenue, N.W.
Washington, [...]

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Submitted By Juan - in response to a post on LoanWorkout.org in regards to “the pending loan modification campaign” spearheaded by US Secretary Treasurer Henry Paulson.
If all these homes were on fire, with flames and smoke, reaching into the air, across the country, — you would see more of an immediate reaction to [...]

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By Moe
An unfortunate casualty of the foreclosure crisis are homeowner’s pets that are often left behind, abandoned to fend for themselves.
The stress and depression that foreclosure causes for some homeowners, makes people act in irrational ways. Some have to move so fast, often to hotels, where pets are not allowed and they have no choice. [...]

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Submitted By Allan
Here are my thoughts:
- any stated income loan shall not be eligible if income stated is more than 10% of real income. I’m sorry but when one signs 1003 income numbers are clearly visible and if one didn’t question his LO he/she not only naive but a accomplice to fraud. The only exception [...]

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Contributed By Lucinda From Our Homeowners Forum at LoanSafe.org 
Hi there,
Thank you to everyone who’s contributed to this wonderful site!
If anyone has experience with Litton and their loan modification system, please chime in. Long story short, due to illness and several other abnormal expenses this year we became a good three months behind on our mortgage, in [...]

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Looks like the Inland Empire may recieve much needed assistance and homewers may be able to avoid foreclosure with a new plan by our governor. 
Gov. Schwarzenegger came to Riverside on Thursday to alert homeowners living in one of the nation’s most mortgage-troubled regions about options that may save their homes from foreclosure.
Schwarzenegger announced a $1.2 [...]

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Homeowner Story By Jac Mac at LoanSafe.org 
I am hoping that I’ll have better results with Countrywide than I’ve read so I’d like some support and help along the way. I’ve been reading a lot on Moe’s site and he’s offered so much valuable information, I can never thank him enough.
I almost feel smart again.
My story [...]

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Submitted By Anne-Marie 
I tried to prepare in advance, calling HSBC to try a work out or any suggestion or help in preparing. They told me that they do not do work outs and they cannot even discuss any options with me since at the time the call was made I was not in default.
I replied, [...]

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 Reader Contributed
Can anyone please help. I fell in to foreclosure with option one. it seems that they want you to be in foreclosure. I have tried to workout programs but cannot because they never get back to you. I have set up 3 repayment plans and the payment is double the current mortgage and i [...]

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