News

Short sales, foreclosures defense, and debt elimination are big topics in the news. Check out these general articles and news coverage to help you understand the issues and facts about your options.

	Homes Underwater: A Stumbling Block for Recovery. New studies reveal that the rate of “underwater” mortgages - that is, where the mortgage debt outweighs the current value of the house — is higher than previously believed, and point to further increases in the coming months.
	Silence of the Lenders: Is Anyone Listening? As record numbers of homeowners try to avoid foreclosure, the responses of big lenders and loan servicers like Countrywide are drawing increased scrutiny. While these companies maintain that they’re doing all they can to help imperiled borrowers, critics contend that homeowners routinely meet roadblocks.
	Short Sales: Treasury Announces New Programs for Distressed Homeowners - The Treasury Department announced two new programs to help distressed homeowners avoid foreclosure. One program will provide incentives for lenders to modify mortgage terms, and the other will streamline the short sale process.
	Plan to Encourage Banks to Allow Short Sales - Banks could get government incentive payments for allowing borrowers to sell their home at a loss rather than go through foreclosure.
	Facing Foreclosure? 'Short Sale' Could Help As the national mortgage crisis threatens millions of Americans, more people than ever are choosing to short-sale their homes rather than face foreclosure.
	Homeowners frustrated as short-sale deals collapse - many homeowners are watching potential buyers walk away as months pass while they deal with lenders' lengthy delays, lost documents and unreturned calls, according to the National Association of Realtors (NAR). Not all the snafus are lenders' fault; inexperienced real estate agents who fail to turn in complete paperwork also are causing holdups, as are severely underpriced homes.