This guide gives you advice for getting a safe, affordable mortgage. If you’re a financial whiz, there may be other ways you can save money, but this guide emphasizes safety and affordability.
Read More about Guide for Homebuyers: Tips for Getting a Safe Mortgage You Can Afford
Mortgage problems tend to have a snowballing effect if not resolved quickly. This article covers how to obtain information about your mortgage payments, what happens if you make only a partial payment, disputing the amount due, and key information about escrow, property taxes, and insurance.
Read More about What Every Homeowner Should Know About Mortgage Payments
Vigorous enforcement of HUD’s loss mitigation rules would preserve homeownership and stabilize communities better than essentially unrestricted sales of the loans, often to financial speculators. To date, however, HUD has not held its major servicers accountable for their non-compliance with HUD’s own servicing rules. The note sale program should continue only if it can be…
New Model Will Improve Accuracy and Reduce Impact of Paid Collection Items and Medical Debt
Read More about Updated Credit Scoring Models Will Benefit Borrowers
In 2018, more than a quarter of all Californians had a debt in collection.1 The increases in unemployment claims and general job loss due to COVID-19 will without question result in an explosion of debts in collection that will disproportionately impact the most vulnerable consumers who are least able to weather a financial crisis and…
Read More about Stabilizing Consumer Finances During and After the Coronavirus Crisis in California
This NCLC report documents a new wave of predatory real estate lending, previously peddled to African-Americans during the 1930s to 1960s, as Wall Street investment companies move to profit off foreclosed homes. The report urges the CFPB to issue rules to protect vulnerable consumers across the nation.
Some Homeowner Assistance Fund programs may decide to structure HAF assistance as an interestfree loan payable upon transfer of the property and forgivable over a period of time. We recommend that if HAF programs choose this structure, they avoid creating undue barriers to assistance such as requiring insurable title or conditioning assistance upon the resolution of outstanding liens or potential liens in order to assure priority of the program’s lien.
Read More about Why Title Reviews Should Not Create Unnecessary Barriers to HAF Assistance
The American Rescue Plan Act of 2021 includes $9.9 billion for creation of a Homeowner Assistance Fund (HAF) to be administered by the Treasury Department. The HAF was established to mitigate financial hardships connected with the coronavirus pandemic and prevent foreclosures among homeowners who have experienced a hardship related to the pandemic.
