By respres via Wikimedia Commons The prospect of losing your home is scary. Fortunately, there are simple ways to avoid foreclosure in many situations. At this time of year, most everyone is enjoying thrills from scary movies and haunted houses. For homeowners, though, few things are as terrifying as facing foreclosure. Getting a few months behind […]
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Few things are more frightening than the prospect of losing your home. If you have fallen behind on your mortgage payments, and you are facing foreclosure, you may not know what to do next. The most common mistake made by people in this situation is giving up too quickly. There are steps you can take, […]
Loan Modifications or Short Sales May Help Few situations in life are more stressful than facing foreclosure on your home. For many people who have found themselves in this difficult situation, loan modifications and short sales can prove to be helpful options. These options are great for many people who are trying to avoid foreclosure […]
Chapter 13 Bankruptcy Information There are two main reasons that most of my clients file a Chapter 13 Bankruptcy: Partial Discharge First, if your median household income is too high to pass the Chapter 7 Means Test, you may still be able to get a partial discharge of some of your unsecured debts by filing […]
Frequently Asked Bankruptcy Questions While financial strain and stress are caused by many reasons, their solution can be found in the United States Bankruptcy Code. Practically every civilization, since organized society, has had some form of bankruptcy relief. Many people have turned to bankruptcy as a solution to their financial situation. Whether to stop a […]
Help For Distressed Homeowners Earlier this year, the Colorado Attorney General’s Office joined a $25 billion multi-state settlement with the five largest banks who account for 60 percent of the home loan servicing market. These banks are Bank of America, JPMorgan Chase, Wells Fargo, Citi and Ally. The settlement was entered to end the problematic […]
The Loan Modification Process “We need additional documents for review!” How many times have I heard this request from Chase Bank, Bank of America, Wells Fargo Bank, GMAC, and other lenders in my efforts to negotiate a short sale or loan modification? Indeed, this is a frustrating request, as it most often follows a submission […]
Foreclosure Information If you’re in the unfortunate position of facing a foreclosure on your home or property, your options to stop the foreclosure diminish as the sale date approaches. The closer the sale date, the less interested a lender will be in negotiating a loan modification, short sale, or other accommodation with the borrower. After all, […]
Foreclosure Deficiency Judgements And You Generally, homeowners who lose their home to foreclosure in Colorado are responsible for any deficiencies that result from the sale of the home. A deficiency may occur if the home is sold for less than the amount due on the mortgage loan. For example, if a borrower owes $250,000 on a […]