Mortgage Law Network

Yes, the government has passed pages and pages of legislation and they have talked this problem to death, but they cannot seem to grasp the basic communication problems going on here. Nowadays, a person cannot speak with their mortgage company, they usually have to speak with a mortgage servicer.
Before we speak about mortgage servicers, […]

Popularity: 39% [?]

As the whole world knows, Lee County, Florida is leading the nation in foreclosures. The cities in Lee County that are experiencing the highest foreclosure rate are Cape Coral and Lehigh Acres. According to the latest statistics, something like 1 in 86 homes in Lee County are in the foreclosure process, and not […]

Popularity: 43% [?]

A heated debate is growing nationally concerning whether the U.S. Government should step into the mortgage mess, and with true Government efficiency, provide help. The problems are obvious, and the solutions are not so easy. The borrowers come in many shapes and sizes, including those people who truly worked hard, saved their money […]

Popularity: 40% [?]

More than 800 people facing foreclosure in southern Florida last week sought out The Foreclosure Prevention Clinic in an attempt to get answers.
Lenders, as well as local housing agencies and representatives from the U.S. Department of Housing and Urban Development (HUD), Fannie Mae and Freddie Mac, were on hand April 12 to offer direct help […]

Popularity: 38% [?]

Recently, I’ve seen several cases where the mortgagor is relaxing their heretofore steadfast position against re-structuring mortgages. This is indeed, good news for homeowners trying to keep their home. Some lenders will add arrearages on to the end of the loan, extending your obligation from thirty to thirty one or more years. […]

Popularity: 51% [?]

A Bond For Deed, more often referred to in other states as a “conditional sale contract”, is the Louisiana process that, if used correctly, may allow someone with credit problems to purchase real estate even when they do not qualify for a mortgage or only qualify for a sub prime mortgage.  It may also allow a debtor risking […]

Popularity: 32% [?]

Maryland legislators touted changes to the Maryland foreclosure law adopted in the most recent legislative session, HB 365, as helping to protect homeowners against foreclosure. The Washington Post reported the adoption of this bill would provide “immediate assistance by extending the timetable of a foreclosure from 15 days to 150.” Sounds pretty good. But is […]

Popularity: 57% [?]

According to a recent article in Reuters, Many Mortgage Suits to Come, But Harder to Win, we can expect a number of class action lawsuits against those responsible for the subprime mortgage losses. Stanford Law School Professor Joseph Grundfest estimated that total investor losses resulting from the drop in stock prices and falling property values […]

Popularity: 50% [?]

Remember when you knew who held your mortgage, it was Bob at the local Savings and Loan. I remember going to the bank with my mom as a kid. She would chit chat with the teller after making a deposit, and I would get my savings account book stamped with this month’s interest, […]

Popularity: 50% [?]

Nationwide, one of every 538 households got foreclosure notices last month, according to data supplied by RealtyTrac. The number of foreclosure notices nationwide rose 57% to 234,685 from March 2007, while repossessions soared 129%, to 51,393. New York City, however, saw 1,555 default notices and 358 foreclosure auctions scheduled. Those numbers represent […]

Popularity: 32% [?]