I am not the only blogger who bemoans the Administration’s feeble foreclosure prevention program.
The Huffington Post has an excellent story on the failure of HAMP, due to not getting the mortgage companies to voluntarily reduce the principal balances.
That is, to agree to lower the total amount owed on a house.
What happened is, the mortgage companies [...]

In some states, once bank forecloses and gets your house back, you do not owe them any money.
But not everywhere.
Check with an attorney in your state.
In Michigan, we have foreclosure by publication, an auction process, or through a court.
If the mortgage company bids the amount you owe at the foreclosure auction, you owe them nothing.

2.8 million properties foreclosed in 2009.
And the trend?  Bound to get even worse.  Record high default rate now, as over 13% of homeowners are behind on their mortgage payments.
American homeowners now $745 billion underwater on their mortgages, according to First American CoreLogic.
Sounds low to me.
Why? Interest only mortgages, which are not sub-prime, which switch over [...]

The short answer to my question:  What Is Happening With Mortgage Modifications?
NOT ENOUGH!
Again and again, I keep saying, judicial mortgage modification, which was up in the House again last week, and lost, is the best solution the government can provide
How are the government encouraged mortgage modifications going?  Are mortgage modifications working?  What effect is the [...]

As a Detroit Michigan bankruptcy attorney, I have observed first hand the decline of the city and how the foreclosure crisis has accelerated the drop in real estate values and increased the number of abandoned homes.
Well, art is where you find it, and David Runk, AP writer tells the story of a couple of artists [...]

Historically, homes face foreclosure when the homeowner cannot afford to make the payments.
Usually, the homeowner has tried to get a mortgage modification or other relief, and makes some payments, misses some, and tries to send in what he or she can.
A strategic mortgage default, as explained by Larry Doyle, is a homeowner who is current, [...]

“You don’t need to force judicial mortgage modification on us, we will voluntarily modify mortgages, lower interest rates, do what it takes to keep people in their homes!  We do not want to foreclose!”
So the mortgage companies screamed to the politicians and the public, holding press conferences to announce the billions of dollars they set [...]

Yes, Michigan’s new foreclosure law has a number of provisions helpful to homeowners.
Even if you cannot afford to pay, the new law gives you an extra 90 days to stay in your home, simply by requesting a meeting with the mortgage holder or servicer.
You should go to the Michigan State Housing Development Authority, or MSHDA, [...]

Second Mortgages? Can I Do A Short Sale?

Your mortgage company started foreclosure, but did not complete the process, so, your home is foreclosed, but you still own it.
Mathew Padilla covers the story in California, but cites another story in Wisconsin, and I know it is happening in Michigan.
Daily Kos is even blogging on mortgage companies abandoning homes.
Mortgage companies decide they do not [...]