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Tax-Exempt Bonds May Be Used to Help Homeowners Refinance

With foreclosures on the rise in nearly every area of the country, the White House is under pressure from consumer advocates to do something to address the crisis. One of the latest solutions involves letting states issue tax-exempt bonds to help troubled homeowners refinance.

4Jan2008 | iaff_staff | 2 comments | Continued
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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
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Clinton Calling for 90 Day Ban on Foreclosures

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 [...]

3Dec2007 | Moe Bedard | 1 comment | Continued
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Foreclosures Aren’t the Result of ARM Resets…Yet

The national foreclosure rate has climbed steadily throughout 2007. While most reports attribute the bulk of the foreclosures to ARM resets, the reality is that more than half of the borrowers who are defaulting are still in their first year of the loan.

1Dec2007 | iaff_staff | 6 comments | Continued
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Avoid Foreclosure in the Inland Empire

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 [...]

30Nov2007 | Moe Bedard | 0 comments | Continued
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Foreclosure Scams Becoming a Big Problem Nation Wide

Where there is money to be made, you will find the predators, salivating at a new opportunity to take people’s money and run. Welcome to the homeowner loss mitigation business where the sharks are having a feeding frenzy on already wounded homeowners. The Better Business Bureau has recently reported that they have received complaints from [...]

19Nov2007 | Moe Bedard | 1 comment | Continued
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Deutsche Bank Foreclosures Tossed Out of Ohio Federal Court – “They Own Nothing!”

by Moe Bedard and Aaron Krowne Judge Christopher A. Boyko of the Eastern Ohio United States District Court, on October 31, 2007 dismissed 14 Deutsche Bank-filed foreclosures in a ruling based on lack of standing for not owning/holding the mortgage loan at the time the lawsuits were filed.

12Nov2007 | akrowne | 12 comments | Continued
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