http://www.mortgage-foreclosure.org A free comprehensive guide dedicated to empowering homeowners and families stop and avoid mortgage foreclosure en-us http://www.mortgage-foreclosure.org/mortgage-foreclosure.org.jpg http://www.mortgage-foreclosure.org 125 33 http://www.mortgage-foreclosure.org/loan-modification/hamp-program.html How are we progressing? Get the latest scoop on the government modification program's performance for March, 2011. Find out how your servicer is performing. View updated charts and current details on the number of new Permanent Modifications, Cancellations, Servicer Progress Report, Complaints, Borrower Experience and much more. By Mortgage-Foreclosure.org http://www.mortgage-foreclosure.org/news/pricing-and-selling-your-home-in-the-current-housing-market.html Since the expiration of the federal tax credit, there is little or less incentive for home buyers to make the plunge. This notion makes it more challenging for current home sellers in making a sale. Home sellers may have to price their homes more competitively so as to compete with other foreclosures in the market. By Mortgage-Foreclosure.org http://www.mortgage-foreclosure.org/news/getting-harassed-protect-yourself-from-unfair-debt-collection-practices-know-your-rights.html The booming debt collection business as a consequence of the recession is resulting in many debt collectors resorting to unethical and unacceptable behavior in pursuing debt from consumers. As it may be off-topic from mortgage foreclosure, we feel that our readers may benefit from knowing their legal rights in dealing with debt collectors. By Mortgage-Foreclosure.org http://www.mortgage-foreclosure.org/news/how-to-protest-against-a-low-home-property-or-house-appraisal-value.html An undesirable, low home appraisal can prevent a home from being sold and destroy the home sale transaction. It is considered one of the most popular reasons why most transactions fail. When an appraisal is evaluated to be lower than expected in a normal market condition, it will be up to the buyer and seller to tango or try to make it work. By Mortgage-Foreclosure.org http://www.mortgage-foreclosure.org/news/more-borrowers-falling-out-of-govt-modification-program.html The number of borrowers dropping out of the government's home modification program are equaling in numbers with those who received permanent modifications. Reports indicated that the number of borrowers who began the 3-month trial modification who failed to be converted into the permanent phase, spiked violently in April 2010. By Mortgage-Foreclosure.org http://www.mortgage-foreclosure.org/news/right-to-rent-act-2010-to-provide-relief-for-foreclosed-borrowers.html There is a new law on its way to the House of Representatives intended in providing post relief for homeowners who lose their homes to foreclosure. The Right-To-Rent Act 2010 is intended to allow ex-homeowners with foreclosed homes to remain in the property by paying fair market rent for up to 5 years. By Mortgage-Foreclosure.org http://www.mortgage-foreclosure.org/news/foreclosure-short-sale-deed-in-lieu-or-walking-away-will-hit-your-credit-score.html Credit Bureaus were previously uncooperative in revealing the fine details in reference to point losses on credit scores impacted by the various forms of mortgage delinquencies. We are in better luck today as Fair Isaac Corporation, the inventor of the FICO score, shared some interesting and important facts. By Mortgage-Foreclosure.org http://www.mortgage-foreclosure.org/news/pick-up-the-phone-you-may-have-won-a-modification.html Just recently, major banks and servicers such as Bank of America have only started providing principal reductions to a tiny fraction of borrowers as a last resort. A new sort of mortgage servicer called 'speciality servicers' are experiencing success in averting more foreclosures. By Mortgage-Foreclosure.org http://mortgage-foreclosure.org/news/new-rescue-plan-to-embrace-loan-principal-reductions.html The public outcry of government bail-outs of banks and the poor success of the loan modification program have urged the U.S. government to unveil yet another new plan to curb the foreclosure crisis. The new plan is designed to aid 2 groups of borrowers. By Mortgage-Foreclosure.org http://mortgage-foreclosure.org/news/bofa-reduces-mortgage-principal-by-up-to-30-percent-starting-may.html Bank of America announced that it will reduce some borrowers' loan principal by up to 30% beginning May of 2010. To qualify, the homeowner must have missed at least 2 months of mortgage payments and owe at least 20% more than their home is currently worth. By Mortgage-Foreclosure.org http://mortgage-foreclosure.org/news/foreclosure-rescue-firms-banned-from-operating.html The FTC (Federal Trade Commission) together with the states of California and Missouri, banned the owners of U.S. Foreclosure Relief Corp. from offering relief services under a settlement complaint that was initiated in 2009. By Mortgage-Foreclosure.org http://mortgage-foreclosure.org/news/private-loan-mods-performing-far-better-than-government-loan-mods.html HOPE NOW, a private sector coalition of mortgage servicers, investors, insurers and nonprofit counselors wrapped up 99,499 proprietary loan modifications in January, twice the amount of 50,364 permanent modifications completed under the Home Affordable Modification Program (HAMP). By Mortgage-Foreclosure.org http://mortgage-foreclosure.org/mortgage-scam.html Misleading promises to save or rescue you from foreclosure are proliferating at an incredible rate all over the United States. It is vital that you are aware of these scams in order to protect you and your family. Be sure to also read the supplemental news involving the latest and recent scams to the right of this page. Our news articles report a variety of scams ranging from short-sale, loan modification to reverse mortgages and etc. By Mortgage-Foreclosure.org http://mortgage-foreclosure.org/foreclosure-options/mortgage-short-sale.html Due to the poor success rate of the government loan modification plan otherwise known as HAMP which was launched in February 2009, the U.S. government has unveiled a new program called HAFA (Home Affordable Foreclosure Alternatives) in association with Short-Sales and Deed in Lieu of Foreclosure. By Mortgage-Foreclosure.org, March 8, 2010 http://mortgage-foreclosure.org/news/1-in-4-us-mortgages-are-underwater.html 25% of all mortgage borrowers have been reported to be underwater or owing more than their homes are worth. According to First American CoreLogic, a U.S. housing research company, 11.3 million borrowers or 24% of all homes with mortgages were already underwater by December 2009. By Mortgage-Foreclosure.org, February 24, 2010 http://mortgage-foreclosure.org/news/citi-allowing-struggling-homeowners-to-remain-in-their-homes-for-additional-6-months.html Citi launches a new program termed Foreclosure Alternatives Program which allows homeowners to remain in their homes for an additional 6 months provided if they return the deed of their property at the end of the period. By Mortgage-Foreclosure.org, February 11, 2010 http://mortgage-foreclosure.org/news/how-to-avoid-a-deficiency-judgment-after-a-short-sale.html As horrible it is to lose your home to foreclosure, ex-homeowners may still be on the bait for the deficiency amount. This is simply the difference of what is owed on the mortgage and what the bank could sell at an auction. Deficiency judgments can haunt borrowers, years after they have lost their home. By Mortgage-Foreclosure.org, February 3, 2010 http://www.mortgage-foreclosure.org/news/state-officials-demanding-banks-to-reduce-loan-principle.html A group of state officials proposed to cut loan principal for borrowers whose home are worth less than the mortgage owed, addressing the arising problems of option adjustable rate (ARM) mortgages and reducing red tape or the number of documents required for the process. By Mortgage-Foreclosure.org, January 20, 2010 http://www.mortgage-foreclosure.org/news/short-sale-fraud-or-not.html As legislators put new laws in place to curb mortgage fraud, there appears to be a new kind of undetected mortgage fraud conducted by agents from major banks. On January 15th 2010, CNBC real estate reporter, Diana Olick produced a controversial story involving short-sales and mortgage fraud performed by agents acting on behalf of major banks. By Mortgage-Foreclosure.org, January 15, 2010 http://www.mortgage-foreclosure.org/news/permanent-modifications-higher-but-still-not-enough.html According to the Treasury Department, 112,521 borrowers who took part in the 3-month trial modification program have been converted to permanent status. This represents a significant improvement or 3 times more than the 31,382 permanent conversions in December 2009. By Mortgage-Foreclosure.org, January 15, 2010 http://www.mortgage-foreclosure.org/news/mark-zandi-forecast-of-housing-prices-2010.html Many thought that we have reached the bottom in home prices with increased interest from home buyers stirring up bidding wars from Florida to Nevada, Silicon Valley and New York. Not to ruin the party but Mark Zandi, the chief economist of Economy.com thinks not. By Mortgage-Foreclosure.org, December 9, 2009