Foreclosures Help Information

Archive for January, 2010

Mortgage Foreclosure By State

Question: I am thinking of letting my house go into foreclosure, I live in Michigan?

and I have a home equity line of credit also (2nd mortgage). What will happen to the equity line of credit. Will they come after me for that? Will I still need to make my payments? Or does anybody know where I can find information on foreclosure in my state?

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Answer: Keep in mind that choosing to let your home go into foreclosure, may be considered fraud down the road.

I suggest you explore all of your options.

Credit Counseling and Housing Counseling is provided by at least these three sites.

http://www.nfcc.org/

http://www.hud.gov/local/index.cfm?state=mi on right hand column

http://www.michigan.gov/mshda/0,1607,7-141-45866_47905-177801--,00.html

Or, a foreclosure attorney may be a choice

Or, a "short sale" may be a choice.

All of these sources will have options, and yes, as mentioned there are additional programs in the works and one was initiated March 4th. You may or may not qualify for any of these programs.

I wish you well.

Mortgage Foreclosure Help - 5 Tips - Save Your Home - Part 1

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Boston Foreclosed Properties

Question: Why does Obama support $4 billion in funding for groups to buy foreclosed properties?

That's the only provision in the mortgage bailout that the White House opposes. Obviously it doesn't help anyone facing foreclosure, just the banks...and oh...the people who get the funding to buy the properties. This would be groups like ACORN.

For more on ACORN, Obama, urban blight and padded pockets, see below:

http://cei.org/node/20757

http://www.boston.com/news/nation/articles/2008/06/27/grim_proving_ground_for_obamas_housing_policy/

http://news.yahoo.com/s/uc/20080625/cm_uc_crmmax/op_196477

http://www.city-journal.org/html/13_2_acorns_nutty_regime.html

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Answer: to help his buddies.

Boston Foreclosure Homes

Trashing Out Foreclosed Homes

Question: quotes on clean ups on extorior foreclosed homes?

was asked to do a clean-up on a foreclosed home, but dont know hat to charge. Mind, only clean up outside of home, like trash, lawn work, and possibly other debris. Such as swing sets, glass, dead rodents, and furniture left behind. please help, need a ballpark labor rate, a.s.a.p, THANK YOU.

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Answer: I am in the Pacific Northwest where pay is pretty low. That kind of work would run between 15 to 20 per hour, and if your hauling away, it would be more like 25 per hour. I would start with 20-25 unless you live in an area where hourly wage is more than minimum.

that is hard work and involves truck or trailer, gas, ins. etc.

Also check newspaper ads and ask what they are charging....

How to start a "Trash Out" company | Learn how to start a "Trash out" company REO, Bank owned homes