Truth in Foreclosure

Are banks too greedy?

There’s been a lot of finger pointing about who’s to blame for the fall in housing prices and, by proxy, the economic slump the country is in right now. Was it lack of government regulation? Was it greedy mortgage brokers? Irresponsible lenders? Mortgage investors? Or was it us…the American homeowner? According to Zillow and other sources, 1 in 6 homes in America that have mortgages are in default. That’s about 18%...and way too many for one thing to be the cause. So was it the ‘perfect storm’ that got us here? Fact is we're all greedy...that's the problem...and the solution...

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Who Determines What’s An Acceptable Workout?

When you start negotiating with your lender or servicer, it may seem like they're dragging their feet. But what you don't see is everything that's going on in the background. Because of the primary and secondary mortgage markets and private mortgage insurance, your service may just be collecting your information to pass on to someone else. The more you know about your loan and the mortgage market in general, the better off you'll be in negotiations. Check out the video on why mortgage guidelines matter to you as a consumer too.

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