Avoid Foreclosures
Anti-Foreclosure Homes Plan Too Late for Some Families
Last February, President Barack Obama announced his $275 billion anti-foreclosure homes plan intended to help nearly 5 million owners of distressed properties.
Axelrod Provides a Glimpse on Obama’s Foreclosure Prevention Plan
President Obama’s senior adviser David Axelrod has offered a glimpse of the administration’s efforts to reduce the number of foreclosed homes in the country and put a break on declining home market prices during his guest appearances in several television shows.
Two Banks Temporarily Stop Florida Foreclosures
Florida banks, BankUnited of Coral Gables and BankAtlantic of Fort Lauderdale have announced a temporary foreclosure moratorium for all loans that they owned and serviced until such time that the Obama Administration has finalized its recovery program for the housing market.
OTS Calls to Freeze Foreclosures
Following US Treasury Secretary Timothy F. Geithner's statement about the new government's plans of rescuing the country?s ailing economy, the Office of Thrift Supervision or OTS called for lending groups to temporarily stop releasing foreclosure orders.
Obama Unveils Bailout Plan to Rescue Foreclosures
In his first primetime news conference as newly-elected president, Pres. Barack Obama expressed his goal of helping the US economy recover from its current situation. His administration has an economic stimulus plan that is directed at allocating rescue funds to provide aid to homeowners facing foreclosure threats.
Banking Committee Chair Dodd Considers Bill to Help Homeowners Avoid Foreclosure
The Senate Banking Committee, chaired by Christopher Dodd, is preparing a financial regulatory reform legislation to be released by April 2009, the deadline requested by President Barack Obama.
Proposed Reforms to Help Homeowners Hit by Georgia Foreclosure
The series of reforms contained in the Senate Bill 57, which was proposed by a group of legislators, aimed to curtail the flood of Georgia foreclosures and provide the local governments more power to address the problems caused by the increasing number of foreclosed homes.
More Solutions to Reduce Foreclosures
With the economic slowdown, experts see more homeowners facing foreclosure this year. Unemployment, the rising cost of living and other troubles related to the ailing economy are causing more to struggle in paying their monthly bills and mortgages.
Short Sale: One Way for Homeowners to Avoid Foreclosure
If you are having extreme difficulty in paying your monthly mortgage amortization, consider turning to short sale to avoid foreclosure. Short sale records appear on credit records, but borrowers who turn to short sales can make another home loan when things get better at least one year after the sale. Foreclosure almost always removes a consumer’s chance of taking another home loan in the future.
One More Legislation to Decrease Foreclosures
The 2nd Democrat of U.S. Senate has presented a law on January 6 in which the judges in bankruptcy would remove a couple of mortgage debts in the aim of stopping the ever-increasing number of foreclosures.
