Frequently, they are junk fees, so the mortgage servicer can make more money off of you.
Kirsti Marohn of the St. Cloud Times wrote a story explaining how the mortgage servicer benefits from screwing up your records so they can charge added fees onto your mortgage.
Mortgage servicers service your mortgage, but they are hired and fired [...]

Effective yesterday, homeowners can get a 90 day delay foreclosure delay after getting the foreclosure notice.
Some of the terms of the new Michigan foreclosure law are:
After the homeowner, (the law applies to principal residences only) gets the written notice:
1. meeting with a housing counselor, and
2.  meeting with the mortgage company
Then:
1.  if the homeowner meets certain [...]

You relied on the mortgage broker, who was maybe even a “friend,” and signed papers without reading them, and now you are facing foreclosure by the mortgage company that scammed you.
It is possible you do not even know what documents were submitted by the mortgage broker to get the loan that you now cannot pay.
The [...]

When your home is not worth as much as you owe on it, and you sell it for less than the amount that would pay the mortgage, or mortgages, that is a short sale.
Last month, the Obama Administration announced changes in the making homes affordable program related to short sales.
You are short of the funds [...]

A short sale (described by Illinois consumer attorney David Leibowitz) allows you to sell your home for less than you owe on it.
Sounds great, but there may be tax consequences of a short sale.
Most short sales involve two or more mortgages, though any home sold for less than what is owed is, by definition, “short” [...]

Just because you have not been foreclosed on yet, does not mean you will be getting a mortgage modification.
Foreclosures will be increasing again, as the freeze on foreclosures by Fannie Mae and others has ended.
Having further depressed the housing market with all the foreclosures already completed, mortgage companies appear to have kept some 600,000 foreclosed [...]

Greed.
How did greed play out?
Crisis of Credit Visualized is a great video by Jonathan Jarvis, over three quarters of a million hits so far.
Sub-prime mortgages, securitized trusts, credit default swaps, collateralized debt obligations, mortgage brokers, investment bankers, credit freeze, it is all there.
Mortgage brokers got paid a commission at closing, does not affect them [...]

The state Senate passed significant changes to Michigan’s foreclosure law today, April 2, 2009.
Michigan allows foreclosure by publication, without any court proceedings, as well as judicial foreclosure, through the courts.
The Michigan state House of Representatives passed legislation that would have allowed the homeowner to force his mortgage company into court even in a foreclosure by [...]

Wells Fargo forecloses, homeowner leaves, mortgage company takes title and possession after the foreclosure sale.
Nothing new there, foreclosures are epidemic throughout the country, especially in Michigan, and this involves a house in Detroit.
The twist?
Mortgage company changes its mind, hires a lawyer, pays more money out of pocket, files a lawsuit to undo the foreclosure sale.
More [...]

Struggling Citigroup, having just got its third bite of taxpayer funds, announced it will lower mortgage payments on SOME mortgages.
This is another industry response to the foreclosure crisis, we will see what actually happens.
The mortgages have to be first mortgages, on your residence, you have to be at least 60 days behind, and unemployed.
So far, [...]