Lawmakers Struggle to Address Foreclosure Fiasco

Original Article: http://www.foxnews.com/politics/2010/10/10/lawmakers-struggle-address-foreclosure-fiasco/

Congressional lawmakers are struggling to come up with a quick fix to the foreclosure fiasco that has threatened the economic recovery and thrown a monkey wrench into their re-election campaigns.

Hearings. Investigations. Court orders. Moratoriums. These are among the many options being floated by members of Congress as they try to demonstrate their sensitivity to the problem and eagerness to address it. The latest housing mess has handed them a new dilemma just when it seemed the economy couldn’t be more of a drag on incumbents. And while some warn a heavy-handed government response could make a bad situation worse, others are calling for across-the-board government intervention.

“The fundamental fairness of the entire foreclosure process is now in serious doubt,” the bipartisan members of Maryland’s congressional delegation, along with Gov. Martin O’Malley, wrote in a letter to the state’s highest court Sunday. They requested a minimum 60-day foreclosure suspension in their state.

Others are calling for a national freeze.

Read More

Options for the Distressed Home Owner

Homeowners who have defaulted or are at risk of defaulting on their mortgage may believe that the only solution to their mortgage problems is foreclosure. However, that is not the case. There are options available and those options are listed below:

Refinance

Homeowners who are current on their mortgage payments may find that refinancing is the answer. They can take advantage of today’s low mortgage rates, reduce their monthly payments, and most importantly, keep their home. In early 2009, the Obama administration launched the Making Home Affordable programs in an effort to help stabilize the housing market. For more information about these programs, visit www.MakingHomeAffordable.gov.

Lender Workout

Mortgage lenders will often work with homeowners who are in default or at risk of defaulting to help them keep their homes with a number of their own options. These workout options can include forbearance, a repayment plan, reinstatement, and loan modifications. Homeowners who are seeking this option are encouraged to look into the Making Home Affordable programs. A link to the website is provided in the paragraph above.

Read More

SOLD – $96,000 – 23211 Kimberly Glen Ln, Spring, TX 77373

23211 Kimberly Glen Ln, Spring, TX 77373

Built in 2002, this home is the perfect floorplan for any buyer.  It is a one story open floorplan built to suit.  It includes a gas or wood burning fireplace, a brick patio and huge wooden deck for entertaining.  This home has beautiful wood floors, tile, gas stove, built in microwave, wood blinds, professional landscaping, separate tub and shower in the master bath, and much more.  The formal dining room has a painted accent wall.  The covered front porch is perfect for a quiet summer’s evening.  You are going to love this house!  It’s a short sale, but I am a Certified Distressed Property Expert and together we can get this deal done!  This home is an excellent value!

Read More