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Facing the Mortgage Crisis Blog Will No Longer Be Updated

12. September 2011

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The blog will remain online as a resource but our team of experts will no longer be answering questions here. If you don’t find the help you need in this archive, you can find a list of non-profit organizations that can help with mortgage problems here. Click here to see a list by county. You can [...]

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Free Foreclosure Event Coming to Silicon Valley in Feburary

31. January 2011

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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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President Obama’s Mortgage Aid Headed to California

22. February 2010

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This morning President Barack Obama announced a $75 billion mortgage relief plan for families that have "played by the rules." This is one is one in a series of measures the president says will keep 9 million people from losing their homes. Here is a clip of his announcement this morning.

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How Large Financial Institutions Devastated CA Communities

17. February 2010

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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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Help For Renters with Homes in Foreclosure

29. January 2010

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A new law was passed in May that protects tenants whose landlords fall into foreclosure. Under the Helping Families Save Their Homes Act, tenants have the right to stay in their homes after foreclosure for 90 days or through the term of their lease. The bill also provides similar protections to housing voucher holders. [...]

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Advance Fees Prohibited for Home Loan Modifications

9. November 2009

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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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Fannie Mae Announces Deed for Lease™ Program

6. November 2009

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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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FreeCreditReport.com Not Free and Not Necessary Say Experts

3. November 2009

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“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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Governor Schwarzenegger Signs Mortgage Protection Legislation

14. October 2009

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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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FDIC Proposes Mortgage Forbearance for Jobless & Part-Timers

29. September 2009

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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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