Foreclosure Help For Homeowners

  Powered by Max Banner Ads   On July 26th 2008 Congress signed a bill to help homeowners facing foreclosure to save their homes. The 300 billion dollar foreclosure rescue bill is aimed at helping homeowners to avoid foreclosure and rescuing the mortgage giants Fannie Mae and Freddie Mac. The criterion for qualifying is listed below. The homeowners must currently live in the homes. The mortgage was issued between June 2005 and January 2007. The homeowner must be spending at least 31% of their gross monthly income on mortgage payments. The homeowners facing foreclosure can even be current on their mortgage payments, but show ... Read Full Story

  Powered by Max Banner Ads   Foreclosures are increasing nationwide. Homeowners desperate to stop foreclosure are falling victims to scams that promise to “rescue ” homeowners from foreclosure. what these scams do is take your money, ruin your credit record, and wipe out any equity you have in your home. Your mortgage lender or any legitimate financial counselor can help you find real options to avoid foreclosure. If someone offers to negotiate with your lender and offers to arrange to stop or delay foreclosure for a fee, carefully check his or her credentials, reputation, and experience. Lease-Back or Repurchase Scams. Be very suspicious ... Read Full Story

  Powered by Max Banner Ads   I found this article from slate on Dec 2005, when the foreclosure meltdown started. What is interesting is the reason not to foreclose on a home is for more money. Now these banks are in deep money trouble. clipped from www.slate.com All of which means the housing boom is being fueled by the willingness of lenders to let borrowers get behind—and stay behind—on their payments. Homeowners go deeper and deeper in debt and become less and less home “owners,” but they get to keep the roof over their heads. It used to be that only gigantic banks ... Read Full Story

Wikizines are interactive magazines that anyone can create or edit - and this one is called "Foreclosure Help For Homeowners". Here you can find fresh voices and respond in real time. Some members write articles about recent news and trends related to the wikizine's topic, others recount relevant personal stories or share their favorite pictures and video clips. Got an interesting idea or story to share with other members of this wikizine? Well, then put on your journalist's cap and add your own article! Read Full Story