9 Things to Do When Faced with Foreclosure

Mortgages

9 Things to Do When Faced with Foreclosure

9 Things to Do When Faced with Foreclosure

For most of us, foreclosure seems like an abstraction –– like the Boogie Man, or Tooth Fairy.  And yet, foreclosure is a reality that many American families deal with every single day. With a rapidly changing economy and the uncertainty of guaranteed employment or good health, foreclosure can creep up on you at the most... Read More

Can Your Spouse’s Credit Score Kill Your Mortgage?

Mortgages

Can Your Spouse’s Credit Score Kill Your Mortgage?

Can Your Spouse’s Credit Score Kill Your Mortgage?

Save for maybe the diehard financial romantics, it’s a rare wedding where “credit scores” share billing with sickness and health. But it might be time to update those well-worn marriage vows. From that moment forward, your spouse’s credit profile will play a big role in your collective financial future. That’s especially true when the time... Read More

CFPB Says Flagstar Bank Stonewalled Troubled Homeowners

News

CFPB Says Flagstar Bank Stonewalled Troubled Homeowners

CFPB Says Flagstar Bank Stonewalled Troubled Homeowners

At-risk homeowners trying save their homes from foreclosure during the mortgage meltdown complained for years that banks were systematically stonewalling them. On Monday, federal regulators accused a financial institution of doing just that, alleging that Michigan-based Flagstar Bank intentionally frustrated homeowners and pushed some into foreclosure. The Consumer Financial Protection Bureau said Flagstar “failed …at... Read More

CFPB Goes After Foreclosure Relief Scams

News

CFPB Goes After Foreclosure Relief Scams

CFPB Goes After Foreclosure Relief Scams

Today the Federal Trade Commission, Consumer Financial Protection Bureau and 15 states announced a slew of lawsuits against companies and individuals for allegedly misleading homeowners and illegally charging them for foreclosure relief that never came. The lawsuits are result of “Operation Mortgage Mismodification,” a joint investigation effort that revealed scams that cost consumers millions of... Read More

Evicted Funeral Home Left Dead Bodies Behind

News

Evicted Funeral Home Left Dead Bodies Behind

Evicted Funeral Home Left Dead Bodies Behind

At the start of the foreclosure crisis, struggling consumers got into the trend of trashing their houses. People poured paint on the carpet, let their animals defecate indoors and punched holes in the walls as a sort of retaliation for the banks taking their homes away. In Fort Worth, Texas, a recently evicted business left... Read More

Are Foreclosures Causing More Suicides?

News

Are Foreclosures Causing More Suicides?

Are Foreclosures Causing More Suicides?

The suicide rate among middle-aged Americans increased significantly from 2005 to 2010, and a new study published in the American Journal of Public Health associates that spike with the recent foreclosure crisis. There has been a lot of research on the relationship between suicide rates and economic ups and downs, but the focus on foreclosure... Read More

Foreclosure Declines Continue

Mortgages

Foreclosure Declines Continue

Foreclosure Declines Continue

There was a time when having more than 1 million U.S. homes in foreclosure was the norm. It wasn’t that long ago, actually — the foreclosure inventory only dropped below the million mark in June 2013 — but as of January 2014, just 794,000 homes were in some state of foreclosure. That’s a 33% decline... Read More

Last Year’s Foreclosures Hit Lowest Total Since 2007

News

Last Year’s Foreclosures Hit Lowest Total Since 2007

Last Year’s Foreclosures Hit Lowest Total Since 2007

In the past year, the national foreclosure rate declined each month by at least 20% from where it had been the year before, according to the CoreLogic Market National Foreclosure Report from December. Additionally, the 12-month sum of completed foreclosures hit its lowest level since 2007. The progress is encouraging — about 837,000 homes in... Read More

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