Now that legislation is pending that would allow bankruptcy courts to re-write some home loans, the mortgage industry is screaming.
The usual scare talk about mortgage rates being forced higher if the bill becomes law.
As we have blogged many times, the proposed bankruptcy law, in narrowly defined cases, would allow courts to write down mortgage [...]

Last week, the Senate leadership introduced the Foreclosure Prevention Act of 2008. It is S. 2636 in congressional jargon. The legislation would be a leap forward in the government’s efforts to mitigate the foreclosure and credit crisis sweeping the country.
The bill incorporates pending proposals that would allow bankruptcy courts to modify mortgages [...]

I would like to thank North Carolina Representatives Miller, Butterfield and Watt for
sponsoring and co-sponsoring HR 3609, and hope that the other 10 members of the North Carolina Congressional delegation join to co-sponsor HR 3609, the “Emergency Home Ownership and Mortgage Equity Protection Act.”

Please contact your congressional member right now and urge him or her
to co-sponsor HR 3609.
Send a letter to the following decision maker(s):
[Your Congressperson]
Below is the sample letter:

As more and more homes are foreclosed and families are forced from their homes, municipalities have been required to deal with the resulting problems.  Several large cities have filed suit against the lenders alleging that they fail to care for the now-empty properties.  Now towns of all sizes are finding a epidemic of [...]

Yes, one or two.
Why does it cost so much money to buy a house in the first place? Supply and demand, and supply in many locations is artificially restricted by zoning and land use regulations.
The fewer places you can build a house in a given area, the more you will [...]

February 06, 2008 episode of Law and Order was “snatched from the headlines” and this episode started with a murder that was linked to a mortgage scam.
The mortgage scam seen in this episode is a common one. A person contacts a homeowner in trouble with their mortgage, under the premise that they can [...]

A landlord whose property is in foreclosure has a duty to his lender to devote any rents to supporting the property. Spend those rents on some unrelated expense and you open yourself to a charge of misusing the lender’s collateral.
The mortgage instrument invariably gives the lender a security interest in the real estate, the [...]

The National Association of Consumer Bankruptcy Attorneys announced today that Senate Majority Leader Harry Reid (D, NV) introduced S. 2636 (attached), the Foreclosure Prevention Act of 2008 last night and indicated that the bill will be considered on the Senate floor as early as the week of February 25th. Title IV of the [...]

     In another effort to avoid government imposed solutions, six of the largest mortgage companies are announcing a new plan to deal with the tidal wave of foreclosures caused by ARM interest rate resets raising payments to more than homeowners can afford.
Project Lifeline, to be announced today, applies only if you are already 90 days [...]