Category Archives: Foreclosure
Beware of Zombie Debt
It is bad enough when debt collectors keep sending you notices in the mail every month, when it is obvious to everyone that you cannot pay. It is even worse when a debt collector pops up out of the blue and starts bugging you about a debt that you barely remember that you owed. … Read More »
Misconceptions About The New Rules About Mortgage Lending
Google has an uncanny ability to figure out your vulnerabilities and exploit them, no matter how much you try to keep your poker face on while choosing search terms. Google knows that you are in debt, and it taunts you with promises of quick fixes to your debt situation. If you subscribe to anything… Read More »
Are “Buy Now Refinance Free Later” Mortgages Too Good To Be True?
It is easy to fixate on how much easier your life would be if you could remove just one financial obstacle. If you are renting your home, you daydream about how much less stressed you would feel about your finances if you could put the same amount of money toward a mortgage payment every… Read More »
How Bad Are The Financial Circumstances Of Floridians?
From a distance, Florida looks like an affordable place to live. The weather never gets cold enough that you have to pay for heating, and parking lots with free parking are plentiful. There are few charming, trendy neighborhoods in downtown urban areas where you don’t need a car but you have to pay an… Read More »
Meet The Homeowners’ Freebie So Diabolical That It Can Turn Into A Multigenerational Curse
Imagine that a fire insurance company has set up a booth outside PetSmart on a sunny day. Whether or not you buy fire insurance, they are giving away free iguanas. Florida has plenty of iguanas already, but freebies are freebies, so you take one, even though you can neither afford fire insurance nor anything… Read More »
Is Another Mortgage Foreclosure Crisis On The Horizon For Florida?
Florida deserves its reputation as a place where people spend money beyond their means, especially on real estate. Who can resist the siren song of Florida thunder echoing through a Star Island beachfront palace or suburban McMansion? Local news reports are replete with tales of people who bought mansions, horse ranches, and luxury condominiums… Read More »
Which Kind Of Home Mortgage Loan Is Right For You?
Home ownership is a clear marker of financial stability, but given the availability of home mortgage loans, the situation is not quite so simple that you can easily divide people into two categories, the haves who own real estate, and the have nots who will never be able to do so unless their fortunes… Read More »
Small Dollar Mortgages Are Elusive
Lenders go out of their way to lend money to people who are already well-off, who objectively own as much property as they need, even if they do not buy the expensive real estate property that they are borrowing money to buy. Meanwhile, when you work constantly but your income falls slightly short of… Read More »
How Risky Are Balloon Payment Mortgages?
From groceries to insurance premiums, the most affordable ones are reserved for people whose finances are already in pretty good shape. The same rule applies to mortgages. The most affordable home mortgage loans are called qualified loans. Before entering into a loan agreement for a qualified mortgage, the lender conducts a rigorous review of… Read More »
Can Your House Get Foreclosed If You Make All The Mortgage Payments On Time?
Entering into a home mortgage agreement is many people’s dream, of which mortgage foreclosure is the corollary nightmare, but at least foreclosure is not a surprise. When you fall behind on mortgage payments, your mortgage lender lets you know immediately, and there are plenty of actions you can take before your case gets to… Read More »