Category Archives: Mortgages
Banks Claim Moral Hazard to Avoid Helping Homeowners with Underwater Mortgages in Chicago
The more trouble you’re in with your mortgage, the less likely your bank may be to help. At least, that’s the idea behind the moral hazard argument banks are using to avoid assisting homeowners. Originally an insurance term, “moral hazard” is taking on new meaning in an era of bank bailouts and help for struggling… Read More »
Banks Cite Moral Reasons for Refusing to Help Homeowners with Underwater Mortgages in Tennessee
Banks are increasingly playing the moral hazard card to avoid helping troubled homeowners, according to the New York Times. Despite being accused of some moral oversights of their own (robo-signing, anyone?) lenders are now claiming that, by taking steps such as reducing the principal on an underwater mortgage, they would be encouraging more borrowers to… Read More »
Atlanta Bankruptcy Still a Solution for Homeowners Not Helped by HARP Changes
New changes to the government’s Home Affordable Refinance Program could help more than 6 million homeowners in danger of losing their houses to foreclosure, according to CBS Atlanta. But is it enough? HARP was introduced in 2009 to help troubled homeowners refinance mortgages, despite having little to no equity in their homes. But though the… Read More »
Tennessee Bankruptcy Can Assist Mortgage Holders Not Helped By Bank Settlement
Federal and state governments have struck a historic $26 billion dollar settlement with banks accused of wrongfully handling foreclosures. Of the total, $146 million is earmarked for Tennessee, according to the Memphis Business Journal. The five big banks involved in the deal were part of a nationwide investigation of improper foreclosure practices in which mortgage… Read More »
Chicago Bankruptcy May Help Potential Borrowers Unable to Qualify for Loans
There’s a common myth that filing for bankruptcy prevents consumers from qualifying for loans and credit in future. In fact, bankruptcy may be more likely to help your chances than to hurt them. Many Americans looking to take advantage of today’s low mortgage rates are learning that, not only can they not qualify for their… Read More »