Welcome to Foreclosure Loans Guide
Stop Foreclosure Loans For Everyone Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Foreclosure Bailout Loans: Scam or Genuine?
from:Of the many options facing people who are dealing with a potential foreclosure of their home, most will eventually hear about foreclosure bailout loans. These types of loans are provided by private investors who will charge high interest rates and provide the necessary cash to forestall a foreclosure. In exchange, they may buyout the mortgage at a loan to value ration of between 65 to 75% and lease the property back to the owner of the home for a period of time. Eventually, the investor returns the property back to the person in the home. These foreclosure bailout loans are supposed to work more like second mortgages, where the tenant remains the owner of the home. However, sometimes unscrupulous people end up owning the home instead. While there are genuine investors who know how to use this as a last-chance tool to save a home, there are many more scam artists who come into a home pretending to offer genuine foreclosure bailout loans when they are just trying to get the deed to your home. You have to be very careful when signing any documents with anyone claiming to be offering foreclosure bailout loans. Some states, like Florida, have even put legislation in place that clearly suggests that despite wording in documents, any bailout offers with a lease option are similar to mortgages where the current resident retains ownership of the home. This has kept people from being evicted from a home they thought they owned after going through foreclosure bailout loans programs.
Stop Foreclosure Loans For Everyone Specific links
Stop Foreclosure Loans For Everyone News
React & Act: What is second-mortgage debt?
To understand Rick Jurgens’ article on the second-mortgage debt and one Texas firm’s aggressive collection methods, you must first look at the origins of the mortgage crisis. Here, we provide an explainer, a glossary of terms, a guide to available resources and a recommended reading list. Explainer: The mortgage crisis Five years after the housing bubble burst in 2007, the mortgage crisis ...
Read more...Virginia state fair property goes on auction block Tuesday
The property is being unloaded by unpaid creditors looking to get back some of the millions lent to the entity.
Read more...Wells Fargo may face fair lending claims
(Reuters) - Wells Fargo & Co could face civil charges from the U.S. Department of Justice under laws that prohibit discrimination against minority homebuyers, the bank disclosed on Tuesday.
Read more...Two dozen arrested at Occupy protest of Wells Fargo meeting
Authorities arrested 24 protesters who were part of a group attempting to disrupt the Wells Fargo shareholder meeting in downtown San Francisco Wednesday afternoon, a police spokesman said. Fourteen people were arrested inside the Merchants Exchange Building at 465 California St., where the meeting was being held, police spokesman Sgt. Michael Andraychak said. Six others were arrested outside ...
Read more...Arrests Made As SF Protest Targets Wells Fargo Meeting
Authorities arrested 24 protesters who were part of a group attempting to disrupt the Wells Fargo shareholder meeting in downtown San Francisco Tuesday afternoon.
Read more...