Category Archives: Mortgages
Chicago Bankruptcy Attorneys Say Government Loan Program Helped Make Foreclosure Crisis Worse
The word is out – the $75 billion loan modification program meant to protect homeowners from foreclosure has actually made the situation worse. Out of the millions of Americans facing foreclosure, Uncle Sam’s program modified mortgages for just a few hundred thousand – some of which ended up going into foreclosure anyway. Now critics are… Read More »
Atlanta Bankruptcy Attorneys Warn That Government Mortgage Program Is Increasing Foreclosures
Contrary to homeowner hopes, Uncle Sam’s $75 billion mortgage modification program may be causing more bad than good. Created early last year, the program was supposed to encourage banks to modify loans of the millions of Americans facing foreclosure. Unfortunately, it’s managed to permanently modify just 35,000 – a drop in a rather large bucket,… Read More »
Bank Lets Some Homeowners Stop Foreclosure This Christmas
Citibank is giving a few thousand Americans the ultimate Christmas gift this year. Problem is, there isn’t enough to go around. The megabank recently announced it would put foreclosures and evictions on hold for some 4,000 homeowners this holiday, according to MSNBC.com. The break applies to homeowners with Citibank-owned loans and lasts through the middle… Read More »
Some Home Foreclosures on Hold for the Holidays
Citibank is giving some 4,000 homeowners a very happy holiday. The banking giant is suspending foreclosures and evictions for people with Citi-owned loans through mid-January. A company spokesman said the aim is to reduce stress during a notoriously hectic time of year, according to MSNBC.com. In the meantime, the bank says it’s at work on… Read More »
More Borrowers Default On Mortgages As Holidays Approach
‘Tis the season for giving, but if many of us don’t curb our spending habits, the only thing we’ll be giving is our home – back to the bank. Just as the media was reporting in September that an economic recovery was underway, there were still roughly 4 million homeowners either in some stage of… Read More »