eric seiger
Northwest <b>News</b>: Is Boise State in trouble against the pass? And <b>...</b>
Northwest News is a daily roundup of what is making headlines in the Pacific Northwest.
Fox <b>News</b> Had More Election Viewers Than CNN And MSNBC Combined
Republicans take back the House; America tunes in to FOX News.
Facebook "Unlike" Button Comes to the <b>News</b> Feed
Facebook quietly introduced an "Unlike Page" button into its News Feed recently, which allows users to opt-out of receiving unwanted messages from pages they had previously said they ...
eric seiger
eric seiger
Northwest <b>News</b>: Is Boise State in trouble against the pass? And <b>...</b>
Northwest News is a daily roundup of what is making headlines in the Pacific Northwest.
Fox <b>News</b> Had More Election Viewers Than CNN And MSNBC Combined
Republicans take back the House; America tunes in to FOX News.
Facebook "Unlike" Button Comes to the <b>News</b> Feed
Facebook quietly introduced an "Unlike Page" button into its News Feed recently, which allows users to opt-out of receiving unwanted messages from pages they had previously said they ...
eric seiger
Northwest <b>News</b>: Is Boise State in trouble against the pass? And <b>...</b>
Northwest News is a daily roundup of what is making headlines in the Pacific Northwest.
Fox <b>News</b> Had More Election Viewers Than CNN And MSNBC Combined
Republicans take back the House; America tunes in to FOX News.
Facebook "Unlike" Button Comes to the <b>News</b> Feed
Facebook quietly introduced an "Unlike Page" button into its News Feed recently, which allows users to opt-out of receiving unwanted messages from pages they had previously said they ...
eric seiger
Northwest <b>News</b>: Is Boise State in trouble against the pass? And <b>...</b>
Northwest News is a daily roundup of what is making headlines in the Pacific Northwest.
Fox <b>News</b> Had More Election Viewers Than CNN And MSNBC Combined
Republicans take back the House; America tunes in to FOX News.
Facebook "Unlike" Button Comes to the <b>News</b> Feed
Facebook quietly introduced an "Unlike Page" button into its News Feed recently, which allows users to opt-out of receiving unwanted messages from pages they had previously said they ...
eric seiger
eric seiger
eric seiger
eric seiger
Northwest <b>News</b>: Is Boise State in trouble against the pass? And <b>...</b>
Northwest News is a daily roundup of what is making headlines in the Pacific Northwest.
Fox <b>News</b> Had More Election Viewers Than CNN And MSNBC Combined
Republicans take back the House; America tunes in to FOX News.
Facebook "Unlike" Button Comes to the <b>News</b> Feed
Facebook quietly introduced an "Unlike Page" button into its News Feed recently, which allows users to opt-out of receiving unwanted messages from pages they had previously said they ...
Facing foreclosure, or unmanageable mortgage payments can be a scary situation, and there are a lot of misconceptions about loan modification and foreclosure defense. Here are a few common questions that homeowners in financial distress may have.
Q. I am paying my mortgage, why won't my lender help me?
A. It's a matter of cash flow, with you making your payments; the lender has no incentive to assist you. It's when you remove the cash flow from the lender that they will consider default solutions, which are in their best interest. Be careful of any agreements your bank asks you to sign in connection with a forbearance or modification, as you may be giving up valuable rights and defenses under these agreements.
Q. What is deficiency judgment? I hear about this in the news. Should I be concerned?
A. Yes. While the idea of losing your home is bad enough, you are at the risk of losing your home and having the Court enter a judgment against you that is good for 20 years. A deficiency judgment is a money judgment against you personally for any difference between the final judgment of foreclosure amount and what the house sells for at the foreclosure sale on the courthouse steps. While lenders have a credit for the entire judgment amount, they only bid a nominal amount ($100) to avoid the cost of documentary stamps. That means that you would have a money judgment against you for all but $100 of the amount you owe.
Q. I was just served with a summons and lawsuit from the bank, what do I do?
A. Whatever you do, don't ignore it and expect that it will go away. Your best course is to retain a foreclosure attorney to defend your interests. You have 20 days to respond to the Court and Plaintiff/Lender. If you don't, the Court will enter a default against you which results in having all of your rights and defenses waived and you essentially excluded from the case. The lender will then swiftly proceed to take your home without any resistance.
Q. With all the government programs, such as HAMP and Making Home Affordable Programs, relief is on the way and my lender will help me out, right?
A. Wrong. Lenders have a horrible track record in timely processing these applications for assistance and an even worse record of assisting homeowners. Statistics show that lenders are not taking advantage of these programs. By no means are these programs a practical solution.
Anyone having a difficult time dealing with their lender regarding a loan modification, or facing a foreclosure would be well advised to talk to a foreclosure lawyer to find out what options are available to them to help save their home.
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