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71Cash for Keys for Occupants of Foreclosed Homes
In a recent cash for keys transaction, a tenant living in a property in Bakersfield, California, called me due to the notice that was posted on her front door by a contractor, who works for my property preservation company. She stressed her worries...
5 comments53President Obama's 2009 Economic Stimulus Plan
Employment opportunities and infrastructure. That is what this new economic stimulus plan, which is estimated to be $838 billion is gearing towards. In early January, the breakdown of the plan was as follows: - To increase employment...
6 comments66An Open Door to Avoid Foreclosure
The effects of the national foreclosure crisis leave homeowners wondering about what to do next. Where will they live? With their credit ruined, how will they qualify for a new place to live? How will this...
0 comments56A Family's Struggle with Foreclosure
"Kristy, Sweetheart, it's time to wake up or you'll be late for school." For Karen Munroe's children, the battle with the blankets at 6:30 in the morning was inevitable. Then it was followed with getting the...
3 comments78Understanding Fannie Mae, Freddie Mac, and the Housing Market
In order to understand the relations the two government sponsored enterprises had with the housing market, it may be best to start with a little review of the Federal National Mortgage Association (FNMA or Fannie Mae) and the Federal Home Loan...
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85What Property Preservation is About
Property preservation involves the securing, protecting, and preparing of properties for sale that have undergone foreclosure, default, or are in bank-owned status. The financial hardships that cause these unfortunate situations leave prior...
20 comments71The Pros and Cons of the FHASecure Program
The FHASecure program began September 5, 2007 allowing borrowers with non-FHA ARM mortgages to refinance their loan into an existing FHA program. It was expanded this July 14, 2008. Below are the some of the...
0 comments65How Mortgages Began
In order to understand mortgages, it is best to start with their history and where the idea of a mortgage actually came from. It all began as far back as the 12th Century, when creditors were protected by law by giving them an interest in their...
2 comments71Facts about loan modifications
I've heard story after story regarding the mortgage crisis, financial struggles, and the amount of borrowers on the verge of foreclosure. The most common alternative to foreclosure is loan modification....
0 comments73The Borrower's Cost of Foreclosure
The initial cost of foreclosure to a borrower begins with factors that cause the occurrence of delinquencies in the first place. Major contributors to these factors are job loss, death, illness, divorce, and...
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