Avoid Foreclosure

I’m distressed and scared about losing my home!

I am facing foreclosure – Homeowner Story After 33 years working for the same company, I ended up on permanent disability due to 4 heart attacks and a stroke. Refinanced my house in August 2004 in order to be able to handle payments and pay off some bills. Thought I was taking out a 30 [...]

18Feb2008 | Moe Bedard | 1 comment | Continued

Countrywide Announces Historic Subprime Relief Plan

Countrywide Financial Corp. has teamed up with the Association of Community Organizations for Reform Now (ACORN) to help subprime borrowers avoid foreclosure. All of Countrywide’s borrowers with subprime loans will be eligible for relief, according to an announcement made earlier today.

11Feb2008 | iaff_staff | 5 comments | Continued

Understanding the Foreclosure Process

By Moe Bedard The foreclosure process varies in every state and it’s imperative that homeowners understand this process. Learn everything you can because this will affect you in every which way and it is something that should not be taken lightly. One thing is for sure, time is NOT on your side. But, an educated [...]

2Feb2008 | Moe Bedard | 1 comment | Continued

Stimulus Plan to Include Housing Relief Provisions

Although exact details are lacking on the mortgage relief provisions of the economic stimulus package, we do know policymakers plan to use the FHA, Freddie Mac and Fannie Mae to pump life into the housing market.

28Jan2008 | iaff_staff | 1 comment | Continued

JACKSON HIGHLIGHTS FORECLOSURE PREVENTION MEASURES AT WORKSHOP TO HELP MICHIGAN FAMILIES KEEP THEIR HOMES

HUD announces incentives for using reliable, government-backed mortgages to find a homeDETROIT – More Michigan families can obtain financial relief from their exotic subprime home loans, thanks to a new government-backed refinancing resource offered by the U.S. Department of Housing and Urban Development’s Federal Housing Administration (FHA). HUD Secretary Alphonso Jackson highlighted the new FHASecure [...]

7Dec2007 | Moe Bedard | 0 comments | Continued

House passes bills to help homeowners facing foreclosure in Michigan

From Crain’s Detroit Business; The state House on Tuesday passed a package of bills to offer new refinancing options to Michigan homeowners facing mortgage foreclosures. Democrat-sponsored House Bills 5443-5447 establish programs to allow some homeowners who have adjustable-rate mortgages or who have missed mortgage payments to refinance and secure lower-interest, fixed-rate loans through the Michigan [...]

5Dec2007 | admin | 0 comments | Continued

Reverse Mortgages as a Foreclosure Prevention Device

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 [...]

4Dec2007 | Moe Bedard | 0 comments | Continued

Litton offered us a loan modification, and we gratefully accepted

Contributed By LucindaÂ From Our Homeowners Forum at LoanSafe.orgÂ 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 [...]

30Nov2007 | Moe Bedard | 4 comments | Continued