Recently, I’ve been helping a friend through the home buying process. Although I purchased a home a few years back, I’d forgotten how rigorous the process can be: How much earnest money do I need to put up? Will the seller help with closing costs? Do I need homeowners insurance? And, oh yeah, and what [...]
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Written by Andrea Risotto and George Gonzalez “What are we going to do if we lose the house?” “I can’t let anyone find out.” “I can’t tell the kids. This is going to wreck their lives.” “I am all alone.” Many of these powerful thoughts have crossed the minds of homeowners who have fallen behind [...]
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Jocelyn Harris is a mortgage broker from Delray Beach, Florida. In 2006, during the housing boom, she purchased her first and only family home for $250,000. At the time, she had a steady income and she and her husband were able to easily pay the mortgage. In 2008, the economy took a turn for the [...]
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The nation’s largest mortgage servicers have distributed $26.1 billion in direct relief to nearly 310,000 homeowners, or roughly $84,385 per homeowner as part of the National Mortgage Settlement, according to a progress report released today by independent settlement monitor Joseph A. Smith of the Office of Mortgage Settlement Oversight. See our press release today and [...]
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A recent article by the Huffington Post’s Peter Goodman showed how one homeowner from the Bronx has continued to struggle to save her home because of the outrageous treatment she’s received at the hands of the bank that services her loan. Reporting with painstaking detail the obstacles Bank of America has thrown up as Katie [...]
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