Foreclosure Frauds and Scams

I didn’t qualify for the Home Assistance Modification Program so my next move will be a short sale because I lost my job and can’t afford the payments anymore. My credit score is over 700. I heard a short sale doesn’t mess up your credit that bad like a foreclosure. I know my credit score [...]

I am trying to sell my old house and have reduced the price as much as I can. I cannot continue making 2 house payments much longer. If I simply allow the house to go into foreclosure and the proceeds from the foreclosure sale are less that what is owed, am I liable for the [...]

Every conversation I hear about the record foreclosure crisis revolves around greedy borrowers buying houses they cant afford, speculators getting bad loans cause they want invest in property and are therefore greedy, and greedy crooked lenders making bad loans. But there are other things going on in our society that might seem to point as [...]

IndyMac and Citifinancial did their investigation and found out that this was fraud and they stop the foreclosure proceeding and stop reporting negative notes on my credit report. The problem is I just received a letter from IndyMac’s lawyers asking me to sign a DEED in lieu of foreclosure. I do not know what this [...]

I have a first and second mortgage (to avoid PMI) and I am wondering if, after foreclosure, if we are going to be liable finacially for the banks loss, or the difference between our loan balance and what they get in the foreclosure sale? I know that our credit score will be affected, but I [...]