There is widespread coverage this morning of an FHFA announcement indicating Fannie and Freddie will begin offering a streamlined loan modification program in July. The program is expected to help more delinquent borrowers avoid foreclosure. According to FHFA Acting Director Edward DeMarco, "This new option gives delinquent borrowers another path to avoid foreclosure." The program commences on July 31, 2013, and is expected to end on August 1, 2015. The Wall Street Journal says that previously, borrowers had to provide proof of hardship before trial modifications became permanent. The Journal quotes Leslie Peeler, senior vice president of Fannie Mae's National Servicing Organization, as saying, "This streamlined modification initiative will cut through the paperwork and simplify the process of securing a permanent mortgage modification for struggling borrowers." Several news outlets note that some officials and consumer advocates praised the move. One analyst voiced concern that the program could encourage more strategic defaults. But the FHFA said the GSEs "would use existing 'screening measures to prevent strategic defaulters.'"
Here's a great article from Vickie Elmer of the New York Times.
Here's a great article from the Bankruptcy Law Network that explains options people have when dealing with mortgage troubles. If you live in Wisconsin and are looking for ways to save your home call Miller and Miller today! With offices in Milwaukee, and Kenosha we are only a short drive away!
Credit Karma featured this great article on an issue that is important to many Southeastern Wisconsin families from Milwaukee to Racine. Miller and Miller can help you to rebuild and repair your credit score. Call us today for a free consultation in one of our three locations: Milwaukee, and Kenosha.
Here's a great article by Kristina from credit sesame:
Meeting with clients from Racine to Saukville to Waukesha, we find that very often people struggle to understand their credit reports.
We've all heard of the mortgage crisis, which has effected Milwaukee and the surrounding area along with the rest of the country. Experts now predict the next wave of financial calamity may come from the tremendous amount of student loans held by Americans who can't find jobs that will pay enough to pay them off. No one wants to be in that situation, and Farnoosh Torabi has some advice below that may help you avoid the student loan bubble.
It is not uncommon for someone to enter my office, credit report in hand, with questions about items listed. Milwaukee, like everywhere these days has a lot of identity thieves lurking about and it is important that you know what puts your identity at risk. If you have debts that might be a result of identity theft call Miller and Miller today to discuss how to eliminate them and clean up your credit report. With offices in Milwaukee and Kenosha, we are only a short drive away!
In the event that you are denied employment by a private employer because of a bankruptcy you likely will not have rights against that employer.
More and more, people in Wisconsin are calling our office after getting involved with some kind of credit card or mortgage scam. If you are in Milwaukee, Waukesha, Kenosha, or Racine, call our office before sending money to a company that promises the world for a hefty up-front fee.