While there is a pressing need for such an organization, there is also one problem. They haven't done anything. Not only have they not done anything, they also have no dedicated website, address, or telephone number.
It's important to note that financial problems and stress are the underlying reasons behind many divorces -- and foreclosures can create both. In fact, money-related issues are the number one reason for divorce.
The IMF's public approval of mortgage reductions, as well as reform in the financial sector, is intended to provide support to the economy and reignite a healthy increase in lending, which will spur economic and job growth.
As a former 1 percent member who got his backside kicked in the real estate "boom and bust" over the last decade, I'm officially a 99 percent member (misery loves company) -- and it's with unique privilege that I can report stories from the frontline.
Does a homeowner have to pay taxes on mortgage debt that's been forgiven or canceled? Some reduced or canceled debts do have to be treated as income, but not all. It depends on their circumstances and the amount of debt.
The robo-signing settlement is the latest -- and potentially the largest -- piece in the U.S. housing policy puzzle. Even though it's partly punishment for banks' wrongdoing, it is also another answer by the government to the question of how it can help the housing market.
While the settlement is unprecedented, it's not enough to help those who have already lost their homes, but it's a step in the right direction for homeowners who have become a victim of the housing crisis and the wrongdoings of these lenders that contributed to it.
Through the 2MP initiative, services of second mortgages have the option to modify the lien or to extinguish it -- which is an admission that the mortgagor is not likely to be repaid for the second mortgage, and they clear their interest in the property by filing a lien waiver.