At a time when millions of homeowners are teetering on the edge of foreclosure and struggling to keep current on their mortgages, a handful of Indiana lenders are doing all they can to help borrowers with mortgage modifications, reports the Post-Tribune of Northwest Indiana (‘We Don’t Want the Properties,’ Lenders Insist, Feb. 19, 2009). (more…)

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Texas mortgage holders who had loans with Countrywide and lost their homes to foreclosure could benefit from a $7.46 million restitution program recently announced by Texas Attorney General Greg Abbott, reports The Houston Business Journal (“Countrywide to Make $7.5M Available for Texas Foreclosures,” Feb. 11, 2009). (more…)

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Florida state officials received welcome news last week when Gov. Charlie Crist announced that the U.S. Department of Housing and Urban Development had approved the release of $91 million in federal aid for Florida’s cities and counties hit hardest by the foreclosure crisis, reports the Orlando Business Journal (“HUD Releases $91 M in Foreclosure Aid,” Feb. 5, 2009). (more…)

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If you’re one of the 5 million to 6 million homeowners who is behind on your mortgage and facing foreclosure, or you’re headed that way with little idea of what to do next, there are several things you can still do to try to avoid losing your home: (more…)

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A California woman behind a real estate ponzi scheme that deceived both investors and homeowners has been sentenced to 12 years in prison and ordered to pay an $8.5 million fine, according to a U.S. Department of Justice press release (“Woman Who Promised to Help Homeowners Avoid Foreclosure Sentenced to Over 12 Years in Prison for Taking Millions From Investors in Fraudulent Scheme,” Jan. 20, 2009). (more…)

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In an effort to speed up the short sale process and help homeowners avoid foreclosure, mortgage giant Fannie Mae has begun a three-month trial program that allows the company to pre-approve the “short sales” of homes, reports The Wall Street Journal (“Fannie Mae Tests ‘Short Sales’ as Alternative to Foreclosures,” Jan. 9, 2009). (more…)

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The Federal Deposit Insurance Corp. is under pressure from Congress to show how the more than 5,000 banks it regulates have used $350 billion they’ve received in government aid to help homeowners avoid foreclosure, reports The Wall Street Journal (”FDIC Pushes Banks for Reports on Use of Government Aid,” Jan. 12, 2009). (more…)

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In an attempt to help millions of homeowners mired in foreclosure and to stabilize a slumping real estate market, Citigroup is negotiating the details of a mortgage modification agreement with federal lawmakers, The Wall Street Journal reports (“Citigroup, Senators in Talks to Let Judges Modify Mortgages,” Jan. 8. 2009). (more…)

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In today’s current economic climate, consumers who are struggling with overwhelming personal debt, job loss, and mortgage foreclosures are increasingly turning to bankruptcy protection, reports CNNMoney.com (“Consumer Bankruptcies Jump in 2008,” Jan. 6, 2008). (more…)

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You’ve received an eviction notice even though you’ve never missed a rent payment. This dilemma is a growing reality for renters throughout the country who are being pushed out of their residences because their landlords have fallen behind on mortgage payments, reports the Associated Press (”Advice for Renters if Landlord Faces Foreclosure,” Dec. 26, 2008). (more…)

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