Board Certified Specialist in Bankruptcy
This week a WSJ article quoted the head of the NY Federal Reserve Bank addressed, saying “the Federal Reserve actively encourages efforts to find viable alternatives to foreclosure, like loan modifications, or deeds in lieu.” Let's take a look at each of these alternatives. How about a modification? If you CAN get a modification, and if the modification allows you sufficient room to pay … [Read more...]
As my partner, Rick Mitchell, outlined in "Cash for Keys?" walking away from a mortgage obligation is neither simple nor straightforward.As with short sales, 90%+ of our clients have other debts in addition to the mortgage debt that's addressed in a deed in lieu/cash for keys offer and those debts remain after a deed in lieu or other "mortgage fix." For these people, a deed in lieu is at best … [Read more...]