The lenders have had their day and now the administration is baring it teeth. The foreclosure crisis spells nemesis for Countrywide Financial Corporation in New Jersey. As part of an agreement New Jersey will be apportioned $3.6 million from Countrywide. The latter has been blamed for having preyed on gullible borrowers, said Governor Jon Corzine [...]

New Jersey lawmakers has given the green signal to foreclosure assistance measures that will enable borrowers to refinance their mortgages or permit them to live in the same houses as tenants while they get back their financial bearings. The Mortgage Stabilization and Relief Act was cleared in the Assembly and the Senate. It has now [...]

The process of mortgage foreclosures creates three different real estate investment opportunities. These consist of the three phases that take place prior to the property actually being purchase by the lender foreclosing on the mortgage. These phases are: * Default or Pre-Foreclosure * Auction or Sale * REO or Real Estate owned Each investment opportunity [...]