December 27, 2010·
Borrowers have one very important right they can exercise throughout the Florida foreclosure process, which is the right of redemption. Redemption is an equitable right that is intrinsic in all mortgages written in Florida. This is in addition to any other rights you are allowed to exercise as spelled out in your loan papers.
The right of redemption provides you with the opportunity to save, or redeem, your property up until the Certificate of Sale of the property is filed. In order to use this right, you must pay your debt in full to the lending institution. Read more...
The Borrower’s Right to Redemption in Foreclosure Proceedings
February 11, 2010·
Citi Mortgage To Let Troubled Homeowners Stay for 6 Months
By : The Associated Press
Feb 11, 2010
Citigroup Inc. plans to let homeowners on the verge of foreclosure stay in their homes for six months — if they turn over the deed to their property.
Citi said Thursday it is launching the pilot program, dubbed “Foreclosure Alternatives,” this week in Texas, Florida, Illinois, Michigan, New Jersey and Ohio. Initially, about 1,000 homeowners are expected to participate. Citi may expand the program nationwide. Read more...
Citi Mortgage To Let Troubled Homeowners Stay for 6 Months
July 8, 2009·
Obama mortgage plan needs work
Many borrowers are not getting help under president’s modification or refinancing plan. Officials don’t expect problems to be fixed until the fall.
By Tami Luhby, CNNMoney.com senior writer
Last Updated: July 8, 2009: 8:10 AM ET
NEW YORK (CNNMoney.com) — Mr. President, help us get one of your mortgage workouts now.
That’s what many borrowers are saying nearly five months after President Obama unveiled his housing rescue plan. The program is beset with problems, say borrowers, housing counselors and even the president himself. Read more...
Hello Mr. President . . . Please send help on these mortgages !
May 15, 2009·
May 14, 2009
Slow Start to U.S. Plan for Modifying Mortgages
The Obama administration’s plan to help millions of troubled homeowners avoid foreclosure by reducing the size of their mortgage payments is just getting off the ground.
So far, two months after the program went into effect, about 55,000 homeowners have been extended loan modification offers, according to a senior administration official. At the same time, foreclosures continue apace. RealtyTrac reported Wednesday that foreclosure filings reached 342,000 last month, up 32 percent from April 2008. Moody’s has estimated that more than 2.1 million homeowners will lose their homes this year. Read more...
Slow Start to U.S. Plan for Modifying Mortgages
April 30, 2009·
No bankruptcy help for homeowners
Measure to modify delinquent loans in bankruptcy court fails in Senate. Obama administration loses big stick to prod loan servicers to aid troubled borrowers.
By
Tami Luhby, CNNMoney.com senior writer
April 30, 2009: 3:55 PM ET
NEW YORK (CNNMoney.com) — The Obama administration lost a bid to add a powerful weapon in its fight against foreclosure Thursday, after the Senate voted down a proposal to allow bankruptcy judges to modify mortgages.
The defeat left many housing advocates questioning the effectiveness of the president’s loan modification plan. The so-called cramdown provision, which would have allowed judges to reduce mortgage principal, would have put pressure on servicers to modify loans before borrowers file for bankruptcy. Read more...
No bankruptcy help for homeowners
April 29, 2009·
U.S. to pay off mortgage investors
Treasury Department announces new mortgage incentives for lenders, which will reduce monthly payments for millions of borrowers.
Last Updated: April 28, 2009: 11:02 AM ET
WASHINGTON (Reuters) — The U.S. Treasury Department will Tuesday tap a $50 billion housing rescue fund to pay off mortgage investors and reduce monthly payments for millions of borrowers, said a senior administration official.
Mortgage servicers that own a small stake in costly loans will receive a cash payment to either erase the debt or agree to accept a reduced return on their investment. Read more...
U.S. to pay off mortgage investors
April 16, 2009·
US foreclosures up 24 percent in 1st quarter
Foreclosures up 24 percent in first quarter as temporary halts expire
- Alan Zibel, AP Real Estate Writer
- Thursday April 16, 2009, 6:20 am EDT
WASHINGTON (AP) — The number of American households threatened with losing their homes grew 24 percent in the first three months of this year and is poised to rise further as major lenders restart foreclosures after a temporary break, according to data released Thursday. Read more...
US foreclosures up 24 percent in 1st quarter