By Ken Harney WASHINGTON — Here’s some good news for homeowners worried that Congress will fail again to renew popular tax benefits for use in 2014 — especially those allowing for mortgage debt forgiveness, write-offs for energy-saving improvements and mortgage insurance premiums. Though there has been no formal announcement, the Senate Finance Committee under new […]
New Law Tightens Foreclosure Rules in Minnesota – Duel Tracking Soon To Be Banned in MN !!!
New Law Tightens Foreclosure Rules in Minnesota By Sharon Schmickle | 08:25 am MinnPost.com Under Minnesota’s new foreclosure law, a lender and/or mortgage servicer can’t move to sell a home until the borrower has had a fair chance to seek a loan modification. This article is one in a series of occasional articles funded by a grant […]
Principle Reduction a Unicorn? Not Anymore.
When I first started at the non-profit as a certified personal finance counselor, I privately referred to principal reduction loan modifications as unicorns. In other words, when clients would come in and ask me the likelihood of getting a reduction on their mortgage principal, I would respond that those types of modifications very rarely occur. […]
NEW RECORD SET
We just acquired a loan modification where our client, a Minnesota homeowner, was almost 3 years in arrears on the mortgage! Yes, I said that correctly, and I have the loan modification in my hand to prove it. My client was over $55,000 behind on mortgage payments and we were able to negotiate a successful […]
Clients 2 1/2 Years Late on Mortgage Payments Get Loan Modification!!
We just got an approved loan modification for our clients who are over 2 1/2 years behind on the mortgage!! These clients tried a loan modification a couple of years ago and were rejected. The mortgage company told the clients they had too many outstanding debts. So, these clients filed for Chapter 7 bankruptcy. Even […]
Best Loan Modification Yet!
The Law Office of Patrick M. Sutton just beat its own record! Our previous best loan modification was a monthly payment reduction of over $1,200.00. This morning, one of our clients received over a $1,600.00 a month reduction in their mortgage payments. They also received a dramatic decrease in the mortgage interest rate. If this […]