5 Tips to Protect Yourself from Loan Modification Scams.

Direct from the Office of Attorney General here are 5 tips to avoid being scammed by "Foreclosure Consultants". 1. Never pay up front fees!!  "Foreclosure Consultants" are prohibited by law from collecting money before services are performed. 2.  Beware of "Foreclosure Rescuers".  These people attempt to convince home owners they can stay in their homes as renters and buy their homes back later. Sometimes they are part of a fraudulent bankruptcy filing.  Either way if you transfer … [Read more...]

Federal Mortgage Tax Cancellation Relief Now Extended

The rules for Federal Mortgage Cancellation Relief Now Extended enacted in 2007 were scheduled to expire December 31, 2009. The relief package enacted shortly before the 2008 election extended the relief through December 31, 2012. If the short sale seller satisfies the requirements they will continue to receive tax relief when a lender cancels all or some portion of the debt associated with their principal residence. In a short sale normally debt forgiveness results in taxable … [Read more...]