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When mortgage debt becomes overwhelming, seeking a loan modification may be an excellent option for you and your family. Under certain circumstances, a well-thought-out and carefully constructed loan modification can help homeowners avoid foreclosure. However, as loan modifications become increasingly popular, scammers have opted to try and take advantage of vulnerable homeowners with increasing frequency. Perhaps even more disturbing is…
When hardships occur, it can be comforting to know that other individuals have experienced the same hardship and have been able to move forward successfully in the aftermath. Since 2008, people all across the nation have struggled with financial challenges due to a sweeping financial crisis. Though the economy has been recovering slowly but steadily, only some individuals’ finances have…
Times are changing. Traditionally, after a home was sold at a foreclosure sale, the bank would accept the sale proceeds and write-off the difference. But now there is a trend for mortgage companies to start collections on the balance of the loan due after the house is sold – “the deficiency.” According to a Columbus Dispatch article published February 19,…