If collections made a debt settlement offer or a company made a foreclosure rescue offer read this first Our material is dedicated to the financial crisis of 2007, documenting the period before, during, and after. Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act. We are a watchdog and consumer advocacy organization.
An adjustable-rate mortgage taken out in 2005 that adjusted earlier this year means $400 more each month in payments. That’s based on the average prie of the average home, around $250,000. Now don’t break out the calculators just yet, as I’m giving you rough information from statistics, as I remember my stats classes and [...]
Common logic once told borrowers that it was shameful to declare bankruptcy. Our parents told us or taught us, to always pay our bills. Lenders knew the basic human values, and that one would always make their house payment and their car payment. But somewhere between those days and today values and [...]
It is late July as I prepare this article. So far 104 mortgage lenders have gone out of business, declared bankruptcy in hopes of starting over, or stopped subprime lending. Economics and the ripple effect tells us for every job lost we see an effect on four others. Communities feel the effects. [...]
As the author and owner of Mortgage Blues let me introduce myself. I’ve worked as an analyst for many years, performing research and doing all things pertaining to the mortgage and finance industry. As such it is long overdue to explain things to real people in a real way, like talking at home. [...]
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