Unemployed homeowners facing foreclosure have been left out in the cold with the government’s foreclosure prevention program.  Since unemployment insurance benefits don’t provide enough income to cover most mortgage payments and many unemployed homeowners don’t qualify for mortgage modifications, many find themselves facing imminent foreclosure with absolutely no or very little negotiating leverage with mortgage [...]

According to an article in the Dallas Morning News, the unemployment rate has surpassed 10 percent for the first time since 1983.
The article said:
“The Labor Department said Friday that jobless rate rose to 10.2 percent, the highest since April 1983, from 9.8 percent in September. The economy shed a net total of 190,000 jobs in [...]

According to an article in the Star-Telegram, the Senate reached a compromise on extending the $8,000 tax credit for first-time home buyers which was devised to combat the effects of the foreclosure crisis.
The article said:
“Under the Senate compromise, buyers must have sales agreements in hand by April 30, but they will have until June 30 [...]

According to an article in the Star-Telegram, Fannie Mae is offering homeowners facing foreclosure the option of leasing their home instead of going through the foreclosure process.
The article said:
“The government-controlled company, through its new “Deed for Lease” program, will allow borrowers to transfer ownership to Fannie Mae and sign a one-year lease, with month-to-month extensions [...]

Have you noticed the commercial centers near you growing a little quieter lately?  If so, you’re not alone.  Commercial real estate nationwide has taken a beating that has many experts fearing the worse.  Vacancy rates have soared while rents have hit rock bottom. And many property owners are struggling to avoid foreclosure. Some have even [...]

The Star-Telegram has announced a free foreclosure prevention workshop.
Date: Saturday, November 7, 2009.
Time: 9am – 2pm
Location: Dallas Convention Center, 650 S. Griffin St.
The workshop is designed to help homeowners facing foreclosure discover their options for preventing foreclosure.  Homeowners will also have an opportunity to meet with their mortgage servicing company and/or a housing counselor to [...]

According to an article in the Dallas Morning News, the Commerce Department reported that new home sales have dropped in September by 3.6 percent.  Some analysts expect that the drop off in sales is a result of potential homebuyers delaying their decision to buy a home due to the expiring tax credit which will end [...]

Domestic abuse on the rise in Dallas-Fort Worth Area

Even under the best of circumstances, things happen that can strain the best of marriages.  The recession hasn’t helped the strain.   Most news reports focus on debt relief as some type of numbers game…what you have to do to get out of debt and a bottom line [...]

According to an article at ABC News, the foreclosure crisis has just taken an ugly and violent turn as two mortgage loan agents claim that they were attacked, tortured and robbed by disgruntled homeowners facing foreclosure.
The article said:
“A California couple and three accomplices were charged in the case. They are accused of beating and torturing [...]

As the foreclosure crisis worsens, many homeowners facing foreclosure are finding themselves the target of sensationalists, whiners and finger-pointers. The foreclosure crisis, some say, is the result of irresponsible, greedy homeowners who have taken on more than they could handle and now they’re experiencing the consequences of their extravagance.  But is that really true?
The foreclosure [...]

There’s an interesting article in the Huffington Post, which suggests a unique (well not so unique) solution to the foreclosure crisis.
The author said:
“Let’s have a federal bill that states that any bank that took a bailout loan and hasn’t paid it back yet isn’t permitted to foreclose on anybody’s primary residence. In addition, bonuses for [...]

According to an article in Reuters, the National Consumer Law Center (NCLC) just released a report finding that mortgage servicers have favored foreclosure over loan modification because it’s cheaper and even more profitable to the servicer.
The article said:
“Loan modifications inevitably cost the servicer something. A servicer deciding between a foreclosure and a loan modification faces [...]