Category Archives: Government Programs
How Bankruptcy Can Pick Up Where New Loan Modification Program Leaves Off
There’s a new plan to help restructure the mortgages of underwater borrowers. The only catch? It won’t work for everyone, say Chicago bankruptcy attorneys. So far, more than 20 lenders have jumped on board the FHA-backed Short Refi program, which aims to help homeowners by getting lenders to write off 10 percent or more of… Read More »
Chicago Borrowers To Pay Higher Premiums For FHA Loans
Thinking about getting a little help from Uncle Sam for that mortgage or refinance? It might cost more than you think, say Chicago bankruptcy attorneys. This month the Federal Housing Administration announced it will raise premiums for its popular government loans by a quarter of a percentage point. It’s a tiny increase, for sure, but… Read More »
FHA Loans About to Get More Expensive For Atlanta Borrowers
FHA loans were designed to make housing possible for more Americans. So what happens when they become more expensive? Borrowers will soon find out, say Atlanta bankruptcy attorneys. The Federal Housing Administration recently announced plans to hike premiums for the government-insured loans by one quarter of a percent. It might not sound like much, but… Read More »
Could Bankruptcy Help Struggling Homeowners Avoid Foreclosure?
It looks like troubled homeowners may soon have a better option for modifying home loans, according to Chicago bankruptcy attorneys. A new bill backed by Sen. Sheldon Whitehouse suggests that the federal government consider allowing bankruptcy to be used to modify the mortgages of the millions of Americans at risk for foreclosure. Currently, the best… Read More »
Senator Suggests Bankruptcy As A Better Alternative To Mortgage Modification
It looks like Uncle Sam might be learning from his mistakes when it comes to helping struggling homeowners, say Atlanta bankruptcy attorneys. With the Home Affordable Modification Plan enacted during the recession a seemingly multi-billion dollar flop, the federal government may be turning to a method that’s actually been proven to work – bankruptcy. In… Read More »