1. Does HUD Owe You a Refund?

If you had an FHA-insured mortgage, you may be eligible for a refund from HUD/FHA. More information HERE

Tuesday, 03 March 2009 | 414 hits | Print | PDF |  E-mail

2. Sellers

Seller information

Monday, 28 September 2009 | 661 hits | Print | PDF |  E-mail

3. Federal Program to Encourage Short Sales

Beginning April 5, the Obama administration will encourage delinquent borrowers to avoid foreclosure and instead give up their homes in short sales by streamlining the process. The program will offer a cash payment to the home owner, as well as to...

Monday, 08 March 2010 | 417 hits | Print | PDF |  E-mail | More...

4. Option-ARM Rates Could Spike

Option-ARM loans represent fewer than 2 percent of all home loans, but those loans add up to nearly $300 billion because they were written to finance pricey homes, according to research firm First American CoreLogic. So far, rates on many option...

Tuesday, 23 March 2010 | 346 hits | Print | PDF |  E-mail | More...

5. New Foreclosure Prevention Plan Announced

President Obama is announcing an expansion of foreclosure-prevent tactics, including a plan to reduce principal balances and special aid for unemployed borrowers.

Monday, 29 March 2010 | 436 hits | Print | PDF |  E-mail | More...

6. Gov't Aims to Help More "Underwater" Homeowners

Summary: $3,000 in moving expenses to the homeowners of short sales or a deed in lieu of foreclosure. Short sales and deeds in lieu don't hurt your credit as much as a foreclosure. The goal is to offer incentives to accelerate short sales....

Tuesday, 06 April 2010 | 383 hits | Print | PDF |  E-mail | More...

7. Owners Who Refinanced May Owe IRS

People who cashed out refinances, or had part of their mortgage debt forgiven when they sold their homes through short sales, will probably owe the IRS a big payback. In 2007, Congress passed the Mortgage Forgiveness Debt Act, but that doesn’t...

Monday, 26 April 2010 | 428 hits | Print | PDF |  E-mail | More...

8. Lenders Unload Mortgages to Collection Agencies

Lenders are selling second mortgages and home-equity lines in default to collection agencies that have the right to collect this money potentially for decades. "It's a big business, and investors are coming out of the woodwork," says Sylvia Alayon,...

Monday, 26 April 2010 | 416 hits | Print | PDF |  E-mail | More...

9. How foreclosure impacts your credit score

Rare insight into how a foreclosure will affect your credit score: 30 days late: 40 - 110 points 90 days late: 70 - 135 points Foreclosure, short sale or deed-in-lieu: 85 - 160 Bankruptcy: 130 - 240   Source: CNN

Wednesday, 28 April 2010 | 468 hits | Print | PDF |  E-mail | More...

10. Fannie Adds Incentive to Avoid Foreclosure

Beginning in July, Fannie Mae will allow financially troubled home owners to complete a “deed in lieu of foreclosure” or a short sale and be eligible to apply for a new Fannie-backed mortgage in two years. Currently, borrowers who have...

Thursday, 29 April 2010 | 1124 hits | Print | PDF |  E-mail | More...