What Congress Has In Store for California Homeowners
Mortgage Debt Cancellation Homeowners that are interested in loan modification or short sale should be familiar with the expiration of the mortgage debt cancellation provision, which ends Dec. 31, 2012. The mortgage debt forgiveness issue is only one of approximately 60 expiring tax provisions that Congress appears unable to extend prior to its recess for … Read more
An Alternative to Foreclosure?
It is no surprise that foreclosures are increasing all over the country because so many homeowners have fallen so deep into debt, it is inevitable they will lose their homes. The National Association of Consumer Bankruptcy Attorneys (NACBA), reports that “an estimated 6.7 million homes already have been lost to foreclosure and that number is … Read more
Affordable Housing Options for California Residents
If you are unable to afford your rent, this may be your solution: The Federal Government’s Section 8 Housing Plan is designed to assist low-income families, the elderly, and the disabled pay their rent. Those who have been approved for Section 8 vouchers will pay a percentage of their monthly income for their rent, while … Read more
12 Tips for Talking to Your Lender
In confronting the realities that result from a floundering economy—such as losing income while facing higher costs of living—many borrowers are finding it increasingly difficult to make their monthly mortgage payments. If you think you may fall behind on your mortgage payments, you might want to consider contacting you lender to learn about your … Read more
New Program Seeks to Compensate Victims of Foreclosure Abuse
In 2010, Jason Grodensky of Fort Lauderdale, FL was shocked to learn that the home that he paid for in cash was being foreclosed on by Bank of America; Grodensky had never taken out a mortgage. This mistake that nearly cost a man his home is not an isolated incident. The housing crisis has lead … Read more
Revamping HARP Could Double Number of Qualifying Homeowners
The Federal Home Financing Agency (FHFA) announced its plan to revise and extend the Home Affordable Refinance Program (HARP) on October 24th. The program began in 2009 with the intention of increasing the number of homeowners who could refinance their mortgages to take advantage of lower interest rates. HARP applies to mortgages owned or guaranteed … Read more
Contact from Collection Agencies: How Far is Too Far?
When lenders turn past-due accounts over to collection agencies, it can mark the beginning of any debtor’s nightmare. Collection agencies seek out every possible mode of contact and border on harassing consumers in their quest to collect. While they are technically doing their jobs, it can be emotionally traumatizing to distressed debtors. This poses a … Read more
Fannie Mae Turned A Blind Eye To Abusive Practices For Years
Fannie Mae knew as far back as 2003 that law firms it had hired to foreclose on delinquent borrowers were engaging in extensive abuses, but did little to fix the problem, according to a new report (pdf). It wasn’t until the summer of 2010 that the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae, … Read more
Same Sex Married Couples can File a Joint Bankruptcy Petition According to Court
On June 13, 2011, 20 out of the 24 judges of the United States Bankruptcy Court for the Central District of California signed an opinion stating that the Defense of Marriage Act enacted on September 21, 1996, commonly referred to as “DOMA,” is unconstitutional to the extent that it prevents legally married same-sex couples from … Read more
Branding Your Business
Branding is every bit as important to small business as it is to big companies. I always urge clients that are just starting out to think about their brand and how they’ll choose to communicate it as they establish the business. The question is whether the makeup of the brand is created intentionally or accidentally. … Read more
