When homeowners run into financial binds, it’s not unusual for them to take out home equity lines of credit. A HELOC is essentially a line of credit that the homeowner can use for whatever they need. Because they’re relatively easy to obtain, HELOCs can also end up...
Loan Modification vs. Bankruptcy
Loan modification can happen during bankruptcy
When someone has trouble balancing their budget, renegotiating some of their financial obligations might help. For example, when your car loan or mortgage puts too much pressure on your monthly income, you may feel like changing the terms of the loan would be the best...
Enrolling in a debt management plan vs. filing for bankruptcy
Whatever the circumstances that led you to this point, you are deeply in debt and are looking for a way out. It is a very difficult spot to be in. You may be considering enrolling in a debt management plan rather than the more widely known option of bankruptcy. Which...
Homeowners have options for avoiding home foreclosure
Owning a home can be a stressful but rewarding experience -- from tackling those first home repairs to arguing with one's spouse over paint colors, there is truly nothing else like it. For those who encounter brief financial problems that make paying the mortgage...
Can I use a mortgage modification to avoid foreclosure?
A home is more than just a building -- it is a place where Florida families make memories, put up decorations to make their own and lay down roots for the future. Unfortunately, financial changes of any kind can threaten one's ability to keep a home. Mortgage...
Tax exclusions for loan modification and other debt forgiveness
The recent mortgage crisis was devastating for many Florida residents and others around the country. Homeowners in financial straits often had difficulties making house payments in a timely manner. In many instances, those struggling financially were faced with a...
Servicing company in lawsuit over loan modification practices
Loan servicers in Florida and elsewhere around the country handle many activities in the mortgage lending process. Since many lenders do not service the loans they make, servicers often collect the principal, interest and escrow payments from those who have obtained a...
Company took advantage of those seeking loan modification
Many Florida residents and others around the nation were looking for financial relief during the most recent mortgage crisis. Many homeowners hoped to execute a loan modification to ease their financial stress while remaining in their homes. However, a company based...
Research takes look at recent loan modification efforts
Many Florida residents and others elsewhere in the country experienced financial hardships during the recent housing crisis. While concerns about losing their homes were prevalent during this time, several efforts were made by national government agencies to help...
New application introduced to simplify loan modification process
After the mortgage crisis that affected many Florida residents and others around the nation, several mortgage assistance programs arose. However, many of these programs were cumbersome and complicated. The Federal Housing Finance Agency recently introduced a new...