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Download a Guide to Understanding Loan Default and Foreclosure

From Community Legal Services in East Palo Alto, a brief guide to help California homeowners understand the process of foreclosure and the options available to them. The guide is available in English, Español and Chinese. Read the story »

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31. January 2011

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Free Foreclosure Event Coming to Silicon Valley in Feburary

The free community event is co-sponsored by Making Home Affordable and Hope Now on Thursday, February 24, 2011 from 11:00 a.m. – 7:30 p.m. at the San Jose Convention Center. Homeowners will have an opportunity to meet one-on-one with their mortgage lender or a HUD-approved housing counselor. You can find out if you qualify for the, [...]

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29. November 2010

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Answers for David Rouse

David Rouse writes: We have a Condo that we might have to put on the market soon. We are current and not underwater on the loan(barely). Back on 06 we refinaced from a ARM to a 30 year fixed and in the process removed a lien from a bankruptcy. The originator was WaMu who of course is no [...]

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17. February 2010

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How Large Financial Institutions Devastated CA Communities

It seems there is never any good news to report on the continuing mortgage crisis. Experts agree, the situation is not improving. The numbers validate their claim. 632,573 California properties received a foreclosure filing in 2009, a 21% increase over 2008. Our partners at the California Reinvestment Coalition released a special report last week titled, “From Foreclosure [...]

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27. January 2010

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Download a Guide to Understanding Loan Default and Foreclosure

From Community Legal Services in East Palo Alto, a brief guide to help California homeowners understand the process of foreclosure and the options available to them. The guide is available in English, Español and Chinese.

Continue reading...

9. November 2009

10 Comments

Advance Fees Prohibited for Home Loan Modifications

A new State Law will protect home owners from scam artists, who promise a loan modification in exchange for a large fee that must be paid in advance. The state is investigating more than 1300 complaints about fraudulent organizations that collect a fee then do little or nothing to get a loan modified. The [...]

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6. November 2009

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Fannie Mae Announces Deed for Lease™ Program

Below is a press release from Fannie Mae detailing a new program that would allow families, who face foreclosure, to stay in their homes. WASHINGTON, DC — Fannie Mae (FNM/NYSE) is implementing the Deed for Lease™ Program under which qualifying homeowners facing foreclosure will be able to remain in their homes by signing a lease in [...]

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3. November 2009

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FreeCreditReport.com Not Free and Not Necessary Say Experts

“Free credit report. com, tell your dad, tell your mom..” this catchy song has prompted many consumers - especially those hoping for a loan- to visit their site for a free credit report. When you get to Freecreditreport.com, you are asked for your credit card information. This message is in small print at the [...]

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14. October 2009

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Governor Schwarzenegger Signs Mortgage Protection Legislation

October 12th Governor Schwarzenegger signed legislation that addresses the rise in mortgage rescue scams. Here is an excerpt from his press release: “To help prevent California homeowners and homebuyers from being negatively impacted by the fraudulent mortgage practices that have arisen in the aftermath of the national foreclosure crisis, Governor Arnold Schwarzenegger has signed legislation to [...]

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29. September 2009

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FDIC Proposes Mortgage Forbearance for Jobless & Part-Timers

There maybe a light at the end of the tunnel for Mortgage holders without jobs. Last week Adam Weinstein reported a new FDIC proposal, that called on banks to drop mortgage rates for the under and unemployed, in the Default Servicing News. Here is an excerpt of his report: ‘As rampant unemployment sours the mortgage industry, the Federal [...]

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28. September 2009

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Giant Foreclosure Prevention Event Coming to Bay Area

360 housing finance experts and 200 bank representatives are heading toward the Bay Area to help save homes and prevent foreclosures. Richmond's Craneway Pavilion is a stop on the Neighborhood Assistance Corporation of America's "Save the Dream tour."

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