Foreclosure Relief Services Blog

HELP: I accepted a forbearance and now I’m being foreclosed!

Feb 21, 2018 10:48:20 AM / by Greg Tidmore posted in Foreclosure, Loss Mitigation, Forbearance

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On August 25th, Texas was hit by the strongest hurricane to impact the state since 1961. But it wasn’t the wind that gusted to 134 mph that caused most of the $180 billion in damage; it was the catastrophic rainfall of up to 60 inches. All told, some 15,000+ homes were destroyed with another 150,000 suffering some damage.  

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Foreclosure Process in Texas

Nov 21, 2017 4:37:15 PM / by Christin Smith posted in Loan Modifications, Foreclosure Defense, Short Sales

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Falling Behind on Payments

If you miss a few mortgage payments, your mortgage servicer will probably send a letter or two reminding you to get caught up, as well as call you to try to collect the payments. Don’t ignore the phone calls and letters. This is a good opportunity to discuss loss mitigation options and attempt to work out an agreement such as a loan modification, short sale, forbearance, or payment plan, so you can avoid foreclosure.

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R.I.P. HAMP: What does this mean for homeowners in distress?

Jan 30, 2017 11:44:11 AM / by Christin Smith posted in Loan Modifications

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The Home Affordable Modification Program (HAMP) was a government-backed program born in 2009 to provide relief to borrowers behind on their mortgages.  The program provided structure and incentives to mortgage servicers to encourage them to lower monthly payments for borrowers in an effort to keep more of them in their homes.  With fewer borrowers in default, and a shift in the political powers in charge in Washington, the program died December 31, 2016  with no plans to resurect it.

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What Happens After a Foreclosure?

Dec 7, 2016 10:00:00 AM / by Christin Smith posted in Foreclosure Process, Foreclosure Defense

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After the Foreclosure Process

In my previous post, Foreclosure Process in Texas, I covered that foreclosure is a process that begins with default of the loan and culminates in the sale of the property. Now having an understanding of how the process works, let's discuss what happens after the auction takes place.

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Momentous Milestone or Monumental Mismanagement of Modifications?

Nov 10, 2016 10:00:00 AM / by Greg Tidmore posted in Loan Modifications

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HOPE NOW, an industry dominated alliance between lenders, housing advocates, and the government, just claimed a “Momentous Milestone” of reaching eight million permanent modifications.

That would be cause for celebration, except HOPE NOW is run by the very people who caused the problem in the first place.  So the modifications that were offered put the lenders interests ahead of he borrowers, and in doing so, much of the $46 BILLION that was committed to helping families facing foreclosure under TARP has been squandered.  What’s worse, over half of those who did get modifications went right back into foreclosure with the 17 MILLION others who never got any help and who got foreclosed on during the same period.

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