Category: Foreclosure

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Nassau County Foreclosure Defense

Nassau County Foreclosure Defense cases have several steps.  Knowing the procedure of the foreclosure case can dictate which steps should be taken at any particular moment throughout the course of the litigation.  The following is a quick summary of the options that may be available in a Nassau County Foreclosure Defense case after the summons […]

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Repurchase your foreclosed home

Repurchase Your Foreclosed Home Previously, foreclosed homeowners who wanted to repurchase their home were required to pay the entire amount owed on the mortgage.  This requirement also applied to anyone buying the home for the benefit of the previous homeowner. However, the Federal Housing Finance Agency (FHFA) recently directed Fannie Mae and Freddie Mac to […]

Read More Faculty Member Faculty Member I would like to thank for the opportunity to teach a couple of courses focusing on Landlord Tenant and Foreclosure Defense.  Anybody who wants to view the courses can click the link below: – John A. Weber IV, Esq.

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FHA Mortgage for Distressed Home Owners

FHA Mortgages After Bankruptcy or Foreclosure   The FHA recently released a letter stating that it was reducing the waiting period to get an FHA mortgage after a bankruptcy or foreclosure, to 1 year. This is a big deal because the waiting period had been two years after bankruptcy and three years after the completion […]

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HAMP Program Extended

HAMP Modification Program HAMP Loan Modifications will continue to be available to homeowners “through December 31, 2015.” The original program deadline was December 31, 2013. “The U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development today announced an extension of the Obama Administration’s Making Home Affordable Program through December 31, […]

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Independent Foreclosure Review Check

Independent Foreclosure Review Many people have called our office because they are/were in foreclosure and  recently received an Independent Foreclosure Review check.  Most of them ask the following questions: Why am I receiving this Independent Foreclosure Review Check? An agreement, providing for Independent Foreclosure Review, was reached by the Office of the Comptroller of the […]

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No Documentation Loan Modification

No Documentation Loan Modification Fannie Mae and Freddie Mac to offer No Documentation Loan Modification Program The Program Fannie Mae and Freddie Mac will offer a simplified loan modification process. Beginning July 01, 2013, servicers will be required to offer borrowers who are at least 90 days, but not more than 24 months, delinquent on […]

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Deed in Lieu of Foreclosure

Deed in Lieu of Foreclosure How can I do a Deed-in-lieu of Foreclosure? Deed-in-lieu of Foreclosure– Occurs when the lender accepts ownership of the property in place of the money owed on the mortgage. Basically, you simply sign over the property to the bank to avoid foreclosure. Sounds easy, right? Not so fast! Most lenders […]

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Short Sale a Must?

Short Sale I already modified my mortgage, but because of new circumstances I am late again. Must I Short Sale my home now? Not necessarily. You may be able to get another loan modification based on your “new circumstances.” The HAMP guidelines were recently changed to address this situation. Homeowners who have defaulted on a […]

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The Mortgage Forgiveness Debt Relief Act Extended

Mortgage Forgiveness Debt Relief Act The Mortgage Forgiveness Debt Relief Act Extended Through 2013 Congress has voted to extend The Mortgage Forgiveness Debt Relief Act of 2007. This act allows taxpayers to exclude income earned from a discharged debt on their principal residence, etc. Without this act, debt that has been forgiven under short sales […]

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