Refinancing an underwater Gulf Shores house could make your home sweet home all the sweeter with a lower mortgage payment. Want to refinance your mortgage? New programs might help. If you have questions about refinancing an underwater Gulf Shores house, please don’t hesitate to contact us or post them using our comment form.
Underwater Homeowners: Little Help From the Government
Fewer than 5,000 homeowners have taken advantage of an Obama administration program that aids “underwater” homeowners, reflecting banks’ resistance to offer such principal write-downs. The administration in March 2010 unveiled a multi-part effort designed to encourage banks to slash principal balances for borrowers whose homes have plunged in value due to the housing bust. It […]
Mortgages: Should You Keep Paying On Yours?
Should you keep paying your mortgage on a home that’s dwindling in value? No way, say an increasing number of underwater homeowners who are voluntarily choosing to “walk away” from their home loans, a practice known as “strategic default.” Jon Maddux, CEO of YouWalkAway.com, reports 10% more clients this year to his company, which advises […]
Military Mortgages Under Water – Foreclosed On While Serving
Should we be doing more to help our troops fighting for freedom? Sure seems illegal to have this occur for those serving. Some people take a “strategic default” while others lose their homes defending the rights of the “defaulters.”… Have questions or concerns about this growing problem of military mortgages underwater and being foreclosed upon […]
Help For Underwater Homeowners
If you owe more on your home than its worth, help may be on the way. Have questions or comments? Feel free to use the “comment” link below to contact us. Don’t worry, your email address will NEVER appear on this website.
Homeowner Aid Expanded
Homeowner Aid Expanded The Obama administration announced programs to help U.S. homeowners avoid foreclosure, including subsidies for borrowers who owe more than their home is worth. The plan expands Treasury Department and Federal Housing Administration efforts and uses funds from the $700 billion Troubled Asset Relief Program. The administration faced a week of criticism from […]