Currently viewing the tag: "mortgage"
7 Defenses to Foreclosure in Massachusetts
February 16, 2011 by CULIK LAW
This post provides a brief overview of various defenses to foreclosure available to homeowners in Massachusetts. (Originally posted in abbreviated form by Culik Law here.) 1. Standing to Foreclose – a/k/a “Show Me the Note” For your bank to foreclose, they must be entitled to enforce the promissory note that you signed at the closing. [...]
Continue Reading →Massachusetts Court to Wells Fargo: HAMP Loan Mods are Enforceable
February 1, 2011 by CULIK LAW
Federal Judge F. Dennis Saylor, IV of the Worcester division of the United States Court for the District of Massachusetts has recently denied an attempt by Wells Fargo to dismiss homeowners’ claims against it. The issue was whether the trial loan modifications sent by Wells Fargo to homeowners were enforceable contracts. (Culik Law has a [...]
Continue Reading →Considering Walking Away? Weigh the Impact First
May 28, 2010 by CULIK LAW
Before walking away from a foreclosure or underwater property, carefully consider all available options. The tax and credit score impact could greatly inhibit your ability to make a fresh financial start. While there can be advantages to a short sale or taking a deed in lieu of foreclosure, it is best to weigh these options [...]
Continue Reading →Mortgage Data Makes Trends and Forecast Uncertain
May 20, 2010 by CULIK LAW
“Any way you look at it, extraordinary numbers of people are having trouble paying their mortgage. What is less clear is the extent to which the problem is getting worse, better or is simply holding its own. Data released Wednesday by the Mortgage Bankers Association showed the mortgage delinquency rate rose in the first quarter [...]
Continue Reading →Tax Surprise for Many Homeowners Walking Away
May 10, 2010 by CULIK LAW
Before walking away from your home that is either in foreclosure or underwater, consider the tax hit that action may present and know your rights and the best option for your situation. Consult a tax attorney or licensed accountant if you have questions or concerns. Check out this article on the subject.
Continue Reading →Million Dollar Homes Join Foreclosure Wave
May 10, 2010 by CULIK LAW
Owners of high-end homes have been able to stave off foreclosure for the most part, but homes worth more than $1 million began hitting the foreclosure wave at an increased rate at the end of 2009 — about a 121% increase from a year ago. This surprising wave of the foreclosure crisis comes just as [...]
Continue Reading →Mortgage Late Payments Drop in First Quarter
May 10, 2010 by CULIK LAW
Late mortgage payments rate took a surprise drop in the first quarter for the first time since 2006, according to credit reporting agency TransUnion. FULL ARTICLE HERE
Continue Reading →Take a look at this article from the Washington Post: Treasury Secretary Timothy F. Geithner tells a Senate panel that not enough is being done to help homeowners avoid foreclosure or keep borrowers who qualify for federal aid from losing their homes. “So far, the federal program, known as Making Home Affordable, has helped about [...]
Continue Reading →Interesting article from the Wall Street Journal on a new study by Barclays Capital who state that banks have fewer foreclosed homes to sell than previously estimated but will increase gradually over the next two years. CHECK OUT THE FULL ARTICLE HERE “To get a sense of how many more households will lose their homes [...]
Continue Reading →How Foreclosure Affects Your Credit
April 22, 2010 by CULIK LAW
CNN reports on how foreclosure can affect your credit score. READ THE FULL ARTICLE “If you’re delinquent on your mortgage, your credit score will suffer. Everyone knows that. The question is, by how much? Until recently, those answers were hard to come by. Credit bureaus were uncommunicative about expressing, in points, just how much impact [...]
Continue Reading →Untitled Document "I cannot thank you enough for the stellar work you did on my Loan Modification. I tried it myself with no success. You were the expert I needed! You were friendly with me and relentless with the bank. You never lost patience nor spirit. You took it to every level necessary to win. AND WIN WE DID. The Modification you obtained cut over a thousand dollars from my monthly mortgage payment! I can keep my house!" Sincerely yours, Robert N.
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