More than $3 million has been sanctioned by the Ohio Housing Finance Agency. It will enable counseling agencies to operate with counseling through 18 centres across the state. This $3.06 million grant emanates from the National Foreclosure Mitigation Counseling Program and it is part of $180 million action taken by the Congress in its fiscal [...]

Considering the big hand of small time lenders fraudulent maneuvers in mortgage loans, New York state has made it a law that all those originating mortgages from here must be checked for criminal backgrounds and their fingerprints taken to prevent a repeat of the foreclosure crisis that is raging. Many like Elizabeth Giammarino who had [...]

There are plans to legalize reduction of mortgage balances for borrowers. But lenders are up in arms against it. Two bills are pending before the Congress that would authorize judges to reduce mortgage debts. If it sees the light of day then thousands of borrowers would be saved from foreclosures. But lenders are seeing red. [...]

The situation here is far worse than the national foreclosure picture. Carol Thomas is 69 years old. She has just been handed a foreclosure notice and wonders how long she can brew coffee in her own kitchen. She had fallen into a trap laid by a scammer who kept promising that things would work out [...]

Some mortgage lenders – the top six giants – are about to disclose plans to locate the borrowers who are seriously at risk so as to put a brake on foreclosures while the loan will be rescheduled and other alternatives worked out. The lenders will work in tandem under the operation termed Project Lifeline. Those [...]

Nothing has been resolved as of yet while talks are still going on between real estate giant Harry Macklowe and his lenders regarding Manhattan office buildings. Harry purchased several Manhattan buildings in the previous year. Technically, the inconclusive talks place Macklowe in   position of default although, according to reports, none of the lenders are going [...]

Although the county is not seeing the same number of foreclosures as elsewhere the rate, when compared to last five years in this region, is high. The panacea seems to be a lower interest rates coupled with foreclosure prevention counseling action. The rates rose when the sub-prime mortgage was introduced and loans on house equity [...]

Desperate times need desperate measures. As the foreclosure crisis intensifies Democrat Congressman from Massachusetts, Stephen F. Lynch has organized a foreclosure prevention workshop on Saturday in Randolph. The venue is the Randolph High School cafeteria where licensed mortgage experts will give confidential advice for free to those living under the hanging sword of Damocles. Lynch [...]