Category Archives: Government Programs

Loan Modification vs. Bankruptcy: Which Is the Best Way to Stop Foreclosure?

When you’re falling behind on your mortgage payments, the chance to change the terms on your loan via a mortgage modification can sound almost too good to be true. Unfortunately, it often is. Loan modifications have gained notoriety in recent years, as lawmakers have tried to encourage them as a solution for struggling homeowners with… Read More »

Are Banks Bypassing Poorer Homeowners When Distributing Mortgage Relief?

The goal of this spring’s $26 billion mortgage settlement was to help victims of predatory lending practices. Now, it appears that banks may be using the funds to help themselves. Back in April, the five biggest banks in the U.S. agreed to refinance mortgages and reduce principals on loans held by homeowners who are facing… Read More »

Struggling Homeowners Brace for Expiration of Foreclosure Tax Break

With the uncertainty of the election over, many Americans are breathing a sigh of relief today. But struggling homeowners now have a new reason to worry. A tax break that prevents homeowners from having to pay income taxes on the forgiven portion of a foreclosure or short sale is set to expire at the end… Read More »

Fed Lowers Mortgage Rates, but Bankruptcy May Be Better Solution for Homebuyers

The Federal Reserve is embarking on an ambitious plan to boost the economy by lowering mortgage rates. But experts say the program, which was announced last week, may not be enough. The Fed plans to begin buying $40 billion a month in mortgage-backed securities in an attempt to push mortgage rates lower. But with rates… Read More »

Is Loan Modification Or Bankruptcy A Better Choice for Atlanta Homeowners?

The good news is that a new FHA program could help underwater borrowers make their mortgages more affordable. The bad news? For many homeowners, it’s too good to be true, say Atlanta bankruptcy attorneys. Known as the Short Refi initiative, the program allows lenders and investors to agree on writing off a portion of a… Read More »