Nick Adama's Profile
Nick Adama's articles
At the end of the foreclosure process, once all of the notices have been sent and published and the lawsuit has ended, a public auction is held to dispose of the property. Sheriff sales do not always go smoothly, and homeowners may need to find out if their home was sold or not.
Posted: 2009-10-22
Category: Finance
In nonjudicial foreclosure states, homeowners who believe they can fight back against the process face an additional challenge that borrowers in judicial states do not have to deal with.
Posted: 2009-10-22
Category: Finance
From investigating nine such complaints for all of 2008, the California State Bar is now investigating 391 complaints against 140 attorneys. What is causing this huge increase in the number of borrowers complaining about attorneys?
Posted: 2009-10-21
Category: Finance
Many of these banks are becoming insolvent due to their exposure to the subprime mortgage market and other risky loans that they extended to consumers or invested in to take advantage of exorbitant profits.
Posted: 2009-10-21
Category: Finance
When banks foreclose on a home, the owners are often confused by the language used in the various legal documents. One of the terms that causes the most confusion is "default."
Posted: 2009-10-19
Category: Mortgages
One of the tactics these criminals use is to steal a huge list of credit card numbers and then begin making numerous small charges on each of them. Many consumers may not even recognize a series of charges.
Posted: 2009-10-19
Category: Credit Cards
The US Department of Housing and Urban Development (HUD) has established requirements that lenders must meet in order to bring a legitimate foreclosure action against homeowners. These rules apply to mortgages that are insured by the FHA.
Posted: 2009-10-12
Category: Mortgages
One of the defenses to foreclosure that is becoming more widespread is the so-called "produce the note" strategy. Numerous cases have been thrown out once the bank has been unable to prove it owns the loan and can show the original note.
Posted: 2009-10-12
Category: Mortgages
The Bankruptcy Code gives homeowners facing foreclosure the right to cure the default any time up until the foreclosure sale process is completed. The key word here is "process," and state law determines what the process is for a valid auction or sheriff sale.
Posted: 2009-10-02
Category: Mortgages
When a home goes into foreclosure while there is an active lease agreement, the lease must be honored by both the homeowners and the tenants. This can be true even after the sheriff sale of the house.
Posted: 2009-10-01
Category: Mortgages
When homeowners are involved in a foreclosure lawsuit, either defending against the bank or initiating their own to stop a sheriff sale, there is a vast amount of information that can be obtained from the bank.
Posted: 2009-09-30
Category: Mortgages
Often, when homeowners need a specific piece of information from their lender, the bank is suddenly unwilling to communicate. Despite numerous faxes or phone calls, the information never seems to make it from the homeowners to the bank back to the owners.
Posted: 2009-09-29
Category: Mortgages
When homeowners or their legal advocates are doing research on a loan, there are numerous documents that may help inform their case against a lender. Borrowers should be aware of these different types of documents.
Posted: 2009-09-24
Category: Mortgages
PSAs set a limit to how many mortgage modifications can be offered by servicers, and these companies may face liability from the trusts or investors that own the underlying loans if they offer too many workout plans to borrowers.
Posted: 2009-09-23
Category: Mortgages
One of the complaints of many homeowners that deal with foreclosure but whose houses have significant equity is that their house sells for far less than its fair market value at the county auction.
Posted: 2009-09-22
Category: Mortgages
This is a type of common law tort defense to foreclosure that homeowners may raise if they are being sued or if the lender is moving ahead with a trustee sale of a property.
Posted: 2009-09-21
Category: Mortgages
When a lender can not find the original note, courts are deciding that foreclosure proceedings must be placed on hold. Without this document, it can be impossible to prove that one has the right to foreclose on the home.
Posted: 2009-09-21
Category: Mortgages
One of the laws that give homeowners the most protection against mortgage lending abuses is the Truth in Lending Act (TILA). This act is designed to provide borrowers with adequate disclosures
Posted: 2009-09-17
Category: Mortgages
In retaliation for the filing of bankruptcy by a borrower, banks and their lawyers have read ambiguous contract clauses to allow the imposition of ridiculous junk fees on accounts.
Posted: 2009-09-16
Category: Mortgages
In retaliation for the filing of bankruptcy by a borrower, banks and their lawyers have read ambiguous contract clauses to allow the imposition of ridiculous junk fees on accounts.
Posted: 2009-09-14
Category: Mortgages
When getting your house out of foreclosure, many people thing that paying the arrears is the only options. There are other options!
Posted: 2009-09-12
Category: Mortgages
When homeowners begin to fall behind on their mortgage, almost immediately, the bank begins adding numerous fees to the balance. A default of a couple months can balloon into a total amount behind equaling nearly half a year's worth of principal and interest payments.
Posted: 2009-09-11
Category: Mortgages
With the government's overreaction to the financial crisis, there are thousands of pages of new regulations covering the investment banking, mortgage lending, loan servicing, student loan, credit card, and every other financial industry.
Posted: 2009-09-09
Category: Mortgages
Many people are wondering how a foreclosure will effect them when they are on the title of the home, but not the loan. This article should help clear up some of those questions.
Posted: 2009-09-03
Category: Mortgages
One decision that the RTC made when selling the assets of bankrupt banks almost single-handedly created the mortgage servicing industry as it is today.
Posted: 2009-09-03
Category: Mortgages
Homeowners who have been blatantly taken advantage of during the mortgage process may have a defense to foreclosure based on the unconscionable contract. There are a number of factors that can point to unconscionability in a loan.
Posted: 2009-09-02
Category: Mortgages
Some homeowners, when they originally purchase their home or refinance, are pushed into an expensive "credit insurance" policy. These schemes can often just be one more way that lenders enrich themselves
Posted: 2009-09-01
Category: Mortgages
One of the factors that has had the greatest impact on the subprime mortgage frenzy and the deterioration of lending standards in the mortgage market was the transferring of risk.
Posted: 2009-08-27
Category: Mortgages
Every day, 1000's of people are losing their home to foreclosure, but by following these directions, you can save your home without the need to spend $1,000 of dollars.
Posted: 2009-08-27
Category: Mortgages
When homeowners fall into foreclosure and the bank or trustee has a public auction of the home scheduled to satisfy the debt, there are various duties that must be met for the sale to be valid.
Posted: 2009-08-26
Category: Mortgages
When you are about to lose your home, it's time to start considering a loan modification. Getting a reduced mortgage payment is only one phone call away!
Posted: 2009-08-26
Category: Mortgages
In states that allow a nonjudicial foreclosure through a power of sale clause in a deed of trust, homeowners find that their properties are sold out from under them without a hearing or chance to defend themselves.
Posted: 2009-08-25
Category: Mortgages
MERS, short for the Mortgage Electronic Registration System: What this company is and what it does is a bit unclear, but many homeowners have had this company attached to their mortgage somewhere along the line.
Posted: 2009-08-24
Category: Mortgages
No matter what you do to save your home, you need to make sure you have a backup plan and never trust one source if you intend to save your home. Learn how to spot scammers and make sure you only work with legitimate companies offering real loan modifications.
Posted: 2009-08-24
Category: Mortgages
If you are having financial troubles and falling behind on some of your bills and credit cards payments you may have found yourself hitting that ignore button on your phones quite often.
Posted: 2009-08-21
Category: Mortgages
When a mortgage company begins foreclosing on a property, most homeowners just assume that the bank really owns their loan and is able to prove it and take their home away. But this is not always the case.
Posted: 2009-08-21
Category: Mortgages
Whether they are defending a bank's lawsuit against them, or initiating their own to stop an auction under a power of sale clause, there are three main categories of defense that borrowers can consider.
Posted: 2009-08-20
Category: Mortgages
Many homeowners are not quite clear on how the foreclosure process works in their state, especially due to differences between judicial and nonjudicial foreclosure proceedings. State law and federal lending law may also affect how the process moves forward, as HUD-guaranteed loans or those insured by the FHA can complicate the matter even further.
Posted: 2009-08-19
Category: Mortgages
If you are facing foreclosure you may be looking into ways to stop it or save your home. One option that should be explored and works for many people is a second loan.
Posted: 2009-08-19
Category: Mortgages
A few states still allow two different methods of foreclosure, one called strict foreclosure and the other called foreclosure by entry and possession. While they are used in only a minority of cases, borrowers should be aware of them.
Posted: 2009-08-17
Category: Mortgages
When a mortgage is insured or guaranteed by the Federal Housing Administration (FHA), an agency overseen by the Department of Housing and Urban Development (HUD), servicing companies must follow HUD servicing guidelines.
Posted: 2009-08-17
Category: Mortgages
When you are fighting foreclosure, selling your home, or using a short sale does not have to be your best defense. A mortgage modification is a much better alternative that allows you to retain ownership in your home.
Posted: 2009-08-13
Category: Mortgages
In the wake of Hurricanes Katrina, Rita, and Wilma in 2005, many agencies of the federal government imposed foreclosure moratoriums, including HUD, the VA, the Rural Housing Service, Fannie Mae, and Freddie Mac. New foreclosures were held off on, while foreclosures already going through the court system were postponed.
Posted: 2009-08-10
Category: Mortgages
If you have received a discharge in Chapter 7 or Chapter 13 to ease your financial burdens, then you may be looking for ways to build your credit score back up.
Posted: 2009-08-10
Category: Mortgages
Many people are relying on a government bailout plan to stop their foreclosure. They think everything is going to be fixed, when the reality is, homes are being lost even faster than ever!
Posted: 2009-08-08
Category: Mortgages
Many homeowners think Obama's bailout plan is going to help the foreclosure situation. This is not the case and homeowners need to start thinking rationally and take the steps needed to save their home themselves.
Posted: 2009-08-07
Category: Mortgages
Working with your lender or service to get a loan modificaiton is no longer as easy as it may seem. Here are some simple tips to help you get the results you need when negotiating with your lender.
Posted: 2009-08-06
Category: Mortgages
The process by which lenders were able to offload liability onto insurance companies and other parties has resulted in huge costs to communities across the country as foreclosure rates have skyrocketed and remained high.
Posted: 2009-08-05
Category: Mortgages
One of the consequences of building a business model on the assumption of perpetually rising housing prices is that, when those values stop rising and actually begin falling, it becomes increasingly difficult to stay in operations at the previous bubble level.
Posted: 2009-08-05
Category: Mortgages
As is the American tradition, one of the hallmarks of our culture and an activity a majority of the population engages in at one time or another, as soon as the housing bubble burst, the lawsuits began.
Posted: 2009-07-20
Category: Mortgages
When homeowners in foreclosure run out of options that would let them keep their homes, many decide to sell. The problem they run into, though, is that they owe more on their home than it is worth, and no potential buyer is willing to pay tens of thousands of dollars above the market value.
Posted: 2009-07-03
Category: Finance
These health issues are ones that people will need to begin thinking about more often, as the government has proved that it is incapable of providing people after emergencies with necessary assistance.
Posted: 2009-07-02
Category: Health & Fitness
The type of person robbing a home is often cowardly and will rely on brute force. If he was hardworking, he would have a job. And if he was a master criminal, he would be knocking off a richer target -- someone breaking into a home is looking for an easy score.
Posted: 2009-07-01
Category: Finance
Properties that sell for less than their fair market value at auction but are quickly resold by the lender may indicate violations of good faith and due diligence.
Posted: 2009-06-29
Category: Finance
New guidelines reward mortgage servicing companies with thousands of dollars of taxpayer money for offering loan modifications that will almost certainly redefault.
Posted: 2009-06-29
Category: Finance
Of the thousands of investors who are behind on mortgages, how do they know when it's time to walk away or try and fight to keep the investment property? This article will help sort out those answers and help provide solutions to stop foreclosure.
Posted: 2009-06-25
Category: Finance
When you are facing foreclosure it's hard to know when to keep making payments and when to stop. This article will help you make that decision by describing the pro's and con's of different scenarios when you are facing foreclosure.
Posted: 2009-06-24
Category: Finance
With all the foreclosure bailout plans and foreclosure moratoriums, why are so many people still losing their homes? In this article, we'll discuss these issues and how to save your home from foreclosure.
Posted: 2009-06-22
Category: Finance
Job losses, foreclosures, evictions, and the lack of "promised" government services are just a few of the phenomena of the current depression. As well, new tactics of governments and banks to make the downturn as painful as possible on the people are being discovered everyday.
Posted: 2009-06-22
Category: Finance
With all the foreclosure bailout plans and foreclosure moratoriums, why are so many people still losing their homes? In this article, we'll discuss these issues and how to save your home from foreclosure.
Posted: 2009-06-19
Category: Finance
If you are facing foreclosure then you probably have many questions about the foreclosure process and what's going to happen to your home. We'll try to answer the most popular questions and give you advice on how to make it through such a tough time.
Posted: 2009-06-18
Category: Finance
Before investing in foreclosure real estate, consider a few other options that may be safer and generate more income. Investing in existing foreclosure businesses is a smart investment and can save you a lot of trouble and hardship in the future.
Posted: 2009-06-17
Category: Finance
Job losses, foreclosures, evictions, and the lack of "promised" government services are just a few of the phenomena of the current depression. As well, new tactics of governments and banks to make the downturn as painful as possible on the people are being discovered everyday.
Posted: 2009-06-17
Category: Finance
Before giving up and letting your home go to foreclosure, consider the impact it will have on your credit. There are always options to minimize the impact, but keeping your home with a lower monthly payment is always best
Posted: 2009-06-17
Category: Finance
The government was to have saved us all from the housing crisis. What went wrong? Between 65% and 75% of modified subprime mortgages may redefault.
Posted: 2009-06-17
Category: Finance
If you are about to lose your home or if you have already lost your home, then your lender may owe you thousands of dollars for selling your home at too low of a price! Don't accept any deficiency judgments and get the money you deserve.
Posted: 2009-06-15
Category: Finance
Homeowners who are facing foreclosure often have to make some very difficult decisions about their current financial situations, how to deal with the mortgage, and future economic prospects.
Posted: 2009-06-12
Category: Finance
There are many ways to keep from losing your home to foreclosure. Here are a few popular methods that will help you keep your home and get a fresh start.
Posted: 2009-06-11
Category: Finance
It would seem that the media and court judges were the last two groups to realize that lawyers pursuing foreclosure against homeowners on behalf of insolvent banks routinely lie in order to push lawsuits through the court system.
Posted: 2009-06-11
Category: Finance
No matter what your financial situation, taking action is usually all it takes to recover. It's just a matter of communicating with your lenders and making sure you have a plan to get out of trouble.
Posted: 2009-06-11
Category: Finance
For all of the bailout money being given to banks, it seems that more credit should be available to potential borrowers or, at the very least, huge Wall Street firms should not have gone out of business or converted to a different type of bank.
Posted: 2009-06-10
Category: Finance
The government, since the financial crisis began, has been offering one preposterous foreclosure help program after another in a blind attempt to keep property owners in their homes.
Posted: 2009-06-09
Category: Finance
Sometimes the stress and hassle of foreclosure makes you want to just give up. It may be worth giving up on the idea of keeping the home, but fighting the foreclosure is still what's best for you and your family.
Posted: 2009-06-05
Category: Finance
The government has tried many plans in the past to help the market recover, but keeping low interest rates and offering a reasonable bailout plan actually has a slight chance of working. The downside is, if it doesn't work, we'll be in more trouble than ever before!
Posted: 2009-06-05
Category: Finance
The number of federal laws ostensibly designed to protect homeowners and borrowers from predatory or discriminatory lending is mind boggling.
Posted: 2009-06-01
Category: Finance
