Josh Talayka | July 25, 2011
At the onset of our current economic recession, the majority of distressed homeowners having difficulty paying their mortgage came from the subprime sector where borrowers were facing adjustable interest rates. As the markets have continued to worsen and unemployment/wage reductions have increased, these defaults have expanded to include all types of mortgages, including FHA. However, one of the benefits of an FHA mortgage is that there are many workout options in place to assist borrowers. The following are just a few of the workout options that the Department of Housing and Urban Development (federal agency that regulates and insures FHA mortgages – HUD) has in place:
Category: FHA loans, Loan Modification Series, Short Sale & Foreclosures |
No Comments »
Tags: Chase International, Deed-in-Lieu, FHA, forbearance, foreclosure options, Foreclosure Prevention, HUD, Loan Modification, Making Home Affordable, MHA, Nevada, NV, partial claim, Pre-foreclosure Sale, Real Estate, reno, short sale, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com
Josh Talayka | May 26, 2010
Scammers and con-artists tend to make a living by taking advantage of people who are vulnerable. So it’s no surprise that with the number of people facing foreclosure, that we are seeing more and more scams that promise to rescue you from foreclosure.
Now this doesn’t mean that every person or company that offers to help you avoid foreclosure is running a scam, because there are many legitimate consumer financial counseling agencies out there that can help you work with your lender. You just have to be carful when trying to distinguish between the two. If someone offers to help negotiate a loan modification between you and your lender, or work to stop or delay a foreclosure for a fee, you will want to carefully check his or her credentials and watch out for the warning signs of a scam. In most cases, the immediate red flag to look for is whether or not they are requiring a substantial up front fee.
Here are some examples on some of the types of scams to be aware of, and what you can do to make sure you do not become another victim:
Category: Financing/Mortgage Topics, Loan Modification Series, Short Sale & Foreclosures |
No Comments »
Tags: Chase International, Default, Foreclosure, fraud, home retention, Homeowners Assistance Program, Loan Modification, loss mitigation, Nevada, NV, Real Estate, reno, scam, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com
Josh Talayka | February 21, 2010
On December 1, 2009, the Treasury announced that is was going to begin fining services that fail to permanently modify as many mortgages as the government thinks they should be. Servicers failing to meet performance obligation under the Servicer Participation Agreement will be subject to consequences which could include monetary penalties and sanctions. When a mortgage is modified, it must first go through a trial phase. The problem however is that in many cases these modifications were not made permanent.
Category: Loan Modification Series |
1 Comment »
Tags: Chase International, Homeowners Assistance Program, Loan Modification, mortgage, Nevada, NV, Real Estate, reno, Servicer Participation Agreement, Talayka, www.sellingnorthernnv.com
