The U.S. Securities and Exchange Commission oversees cases involving mortgages, but the Federal Trade Commission (FTC) has recently stepped in to ban several companies from operating in the mortgage industry after finding them guilty of making false claims to homeowners. The companies, Redstone Law Group and Surety Law Group, voluntarily agreed to the ban in
Loan Modification
Mortgage relief scams have become more common as of late, but a number of homeowners are unaware of these fraudulent activities and their consequences. These scams begin when the scammer calls a homeowner and claims they can help the consumer negotiate a loan modification or some other type of foreclosure relief with the homeowner’s mortgage
On Tuesday, the Department of Housing and Urban Development (HUD) announced that they will soon be releasing a new set of guidelines for the sale of all mortgages that were once guaranteed by the US government. These new regulations come in response to a number of legislators criticizing the loan sales, saying that they allowed
There are a number of programs that help homeowners with their monthly mortgage payments, but not all homeowners know about them. Some of these programs are connected to employers. While not all employers offer assistance, those that do often find job seekers fighting for open positions. Homeowners can also find help through a number of
While the term ‘refinance’ is most often used with mortgages, it can apply to any type of loan. Many borrowers have taken advantage of low interest rates to refinance their home loans, but some have also refinanced their auto loans, student loans, and even credit card debt via a home consolidation loan. For some, even
Homeowners who have retired or who are close to retiring and still have a mortgage may have concerns about their finances. While many do pay off their mortgage before retiring, those who purchased a home later in life with a 30-year mortgage or who have had to refinance their home for some reason may find
At various times in life, your mortgage can seem overwhelming – either from the size of the monthly payments or the overall amount of interest you will pay. If you are looking for methods to save either way, here are a few suggestions:
Consider Refinancing – Fixed interest rates are going up again, but they
Freddie Mac and Fannie Mae have announced that as many as 50,000 homeowners may be eligible for mortgage balance reductions. The Federal Housing Finance Agency (FHFA) has approved the new plan that is aimed at helping those who are struggling to pay their monthly mortgage payments. However, many feel that the plan does not go
The recent gains in home prices have helped some homeowners get out from “underwater”, a situation where the homeowner owes more on the home than it is worth. However, there are still far too many Americans in a negative equity position in their home.
Halfway through 2014, there were still around 5.3 million underwater homeowners,
“Operation Mis-Modification” may sound like a bad TV sitcom or a strange new form of pageant, but it is actually a joint effort from the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC) and officials from fifteen states, designed to crack down on mortgage-relief scammers.
During the mortgage crisis, desperate homeowners sought help