The government should be working to protect homeowners, not the lenders
that got us into this mess.
Over one million U.S. homeowners have already lost their homes due to
foreclosures since the mortgage crisis began last summer. Another one
million homeowners are 90 days past due .... read
more
(07-31) 04:00 PDT
Washington -
--
The giant housing rescue plan President Bush signed Wednesday might
help stanch the bleeding in the housing market, but experts on both
sides of the political divide worry that it is, at best, only an
emergency step. ... read
more
Freddie Mac
Doubles Financial Incentives to Servicers Who Help Borrowers Avoid
Foreclosure
Freddie
Mac
today told mortgage servicers it was doubling the amount of money it
pays for
each workout that keeps a delinquent borrower with a Freddie Mac-owned
mortgage out of foreclosure. One of the nation's largest investors in
residential mortgages, Freddie
Mac also announced it will start reimbursing servicers for the cost of
door-to-door outreach programs, .... read
more
Inside Congress's
housing repair kit
By Kimberly Blanton Globe Staff / July 31, 2008
Legislation
offers tax breaks, money to fight blight, mortgage aid, and more
disclosure by lenders.
The sweeping housing legislation signed yesterday by President Bush
provides a tax credit for first-time home buyers, ... read
more
Governor Lynch Signs Law Aimed At
Protecting Consumers From ...
Politicker
-
New York,NY,USA
Lynch signed a law
aimed at protecting homeowners from losing their homes - and the
valuable equity they have built into their homes - to foreclosure
scams. ...read more
(04-13)
04:00 PDT Washington
--
The country's two largest sources of mortgage money have a blunt
warning for anyone thinking about joining the growing "walkaway" trend,
where homeowners stop making payments and months later send the house
keys back to their lender: You will feel the pain. ...read
more
Corporate Homebuilder
Bailout in Senate
Foreclosure “Prevention” Bill
LIUNA
Steps-Up Efforts to Expose Multi-Billion Dollar Corporate Homebuilder
Bailout in Senate Foreclosure “Prevention” Bill
Union Starts Drive-Time
Radio Ads: “Ask the Senate: What do Handouts for Corporations
Have to
Do with Preventing Foreclosure?” Washington, D.C. (April 4,
2008) .....read more
Comparing Income Taxes:
Clinton vs. Bush Mark J. Perry, Ph.D.
seekingalpha.com
Despite
all of the political
rhetoric about "tax cuts for the rich" and the "middle class squeeze,"
a recent analysis by the Tax Foundation shows that federal income taxes
have fallen for groups at all income levels.... read more
Daily Pilot -
Costa Mesa,CA,USA
with
Senate Bill 2636, “Foreclosure Prevention
Act of
2008.” Reid thinks these people just did not understand what
they were
signing. ...read more
Five New Tax Breaks, Law Changes
You Must Consider
This Year
FOXBusiness -
USA
Homeowners
who went through foreclosure in 2007 have Congress
to thank for a valuable new benefit. Before the Mortgage Forgiveness
Debt Relief Act of 2007, ... read
more
Arkansas
Democrat Gazette - AR,USA
Arkansas
law, along with many other states,
allows for
judicial and nonjudicial foreclosure. In judicial foreclosures,
the sale of the property is ...read more
By Thomas O.
Moens(Thomas O. Moens) Foreclosure
is much more time consuming and expensive. The lender owns your
property after foreclosure, and is responsible for
maintenance, taxes, and most importantly, selling the property. So,
accepting a short sale is sort of a "bird ... read more
By
gweston
The
defaulting homeowner, however, can argue that the 2nd lender was at
least in part (if not mostly or entirely) for the foreclosure.
Is the 2nd lender known for seeking out and writing mortgages based on
inflated appraisals? ...read more
Gloucester
County Times - NJ.com -
Woodbury,NJ,USA
The Mortgage Forgiveness Debt
Relief Act of 2007 should reduce the number of foreclosures,
Andrews said. If a home drops in value, and the owner tries to ...
....read more
President Bush Signs Foreclosure
Tax Relief Bill Into Law
By
LKB
Do
you think this includes short sales where the seller is liable for
taxes on the difference of the sale price vs loan?
http://www.realestatewebmasters.com/...tes/3798/show/ Thanks, ...more
Troubled
homeowners get a triple-whammy: Foreclosure then fees then taxes
Reader
Comments:
...my
Credit report to show these mortgage loans were included in my
Bankruptcy, but the Bank would only change the amount of the mortgage's
owed and once they claimed I owed them a total of 6 Million dollars
(actually more like $150,000) which kept me from getting Credit
& Employment for 10 years! I've heard a lot about the Banks
don't want your house. Bull....! Do the homework! They get DOUBLE
judgments (which they get to add to their "Assets" to borrow money from
the Fed with,...read
more
Minneapolis Star Tribune (subscription) -
Minneapolis,MN,USA
IRS.gov includes a worksheet to
help homeowners determine whether they are eligible for any foreclosure-related tax relief. For those
who find they owe ...
...read more
....
If someone lends you $200,000 and then later forgives the debt, you've
made money. The income tax laws treat the forgiven debt as taxable
income. ...read
more
House
Bill 947: ''An act to require that notice of sale in foreclosure
proceedings be sent to certain tenants residing in the property to be
sold, to allow those tenants after receiving the notice to terminate
the rental agreement upon ... read more
Unwary
borrowers snared in U.S. housing "bloodbath"
By
Emily Kaiser
CHICAGO
(Reuters)
....Gorney, director of loss mitigation at
Freedom
Foreclosure
Prevention Services in Mesa, Arizona, receives more
than 300 applications a month from people facing foreclosure, and has
little faith in forecasters who say the worst of the housing market
downturn is over.
"It's going to be a bloodbath this year,"
she said.
Many of her clients -- homeowners who come
for help
renegotiating mortgage terms or to work out deals to avoid foreclosure
--...read more
