201205.16
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Rejoice and Be Exceedingly Glad. A fresh start may come sooner than you think!

http://www.reuters.com/article/2012/05/16/us-housing-borrowers-idUSBRE84F04Y20120516 Very encouraging article in Reuters today about how quickly some “victims” of financial failure have been able to turn their lives around and buy a new home after a short sale. Actual statistics are not yet available nor can an exact amount of recovery time be quantified, but if you are facing a no…

201203.19
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There has to be a better way to spend the taxpayer’s money to fight loan default and foreclosure

www.TBWSDailyShow.com Listen to the “Think Big, Work Small” video podcast for 3-19-2012 and about 2 minutes into the 6 minute video, you will see a comical portrayal of the allocation of the government’s latest $42,000,000 infusion of cash into the cure for the foreclosure epidemic. It would be hilarious, except that it is true! The…

201203.16
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Stay the Short Sale Course if you can’t afford your mortgage payments

Under the pressure of yet another round of demands from Congress to ease the requirements for mortgage modifications and principal reduction modifications, the “GSEs” or quasi-governmental mortgage clearinghouses for mortgages – FNMA and FDMC (Fannie Mae & Freddie Mac) have rationalized their steadfast refusal to grant principal reduction modifications. http://www.dsnews.com/articles/fhfa-criticized-for-arguments-used-against-principal-reduction-2012-03-15. The rationale for disallowing 100%…

201203.07
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Where is the Cavalry?

How much help can Veterans and potential FHA refinancers expect from the latest program announced by President Obama at his recent (3-6-2012) press conference? For a good summary of the new program see an article in Bloomberg Business (http://www.washingtonpost.com/business/economy/obama-unveils-housing-initiatives-for-military-fha-families/2012/03/06/gIQAjW1mvR_story.html) “the administration has struck an agreement with various banks and lenders to conduct a review of…

201203.05
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Keeping the Dogs at Bay

Many of you have emailed us to ask for more information on the Fair Debt Collection Practices Act (FDCPA). A copy of this consumer legislation can be found at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf. You can also use your web browser and get a shorter summary. One of the main problems with defending yourself against collection agents trying to…