Military Gets House Support on Foreclosure Protection

Day: June 3, 2012

Military Gets House Support on Foreclosure Protection

Military Gets House Support on Foreclosure Protection

The House of Representatives voted overwhelmingly to approve broader foreclosure protection for military servicemembers in an amendment to a military spending bill. The amendment will extend a stay against foreclosure from nine months to 12 under the Servicemembers Civil Relief Act (SCRA). The proposed expanded SCRA would encompass disabled vets, spouses of fallen servicemembers and…  Continue Reading

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Pending Expiration Fuels Strategic Defaults

Pending Expiration Fuels Strategic Defaults

The current Mortgage Debt Relief Act of 2007 is set to expire on December 31 of this year. While there is a bill in the House that would extend it to 2015, homeowners are getting twitchy. So much so, in fact, that according to YouWalkAway.com, a foreclosure prevention agency, conducted a survey of borrowers and…  Continue Reading

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10% of Homeowners Are 90+ Days Delinquent

10% of Homeowners Are 90+ Days Delinquent

According to Zillow, 10% of all homeowners are 90+ days delinquent on their mortgage payments. That equals out to owing $1.2 TRILLION more than the value of the homes. It’s a staggering number. Over 30% of homeowners owe more than their house is actually worth, making them “underwater.” Zillow’s data covers nearly all mortgaged homes…  Continue Reading

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