Want to protect your house against foreclosure due to job loss?

The best way to do this is: don’t lose your job. That’s a bit of a smart-aleck answer, but there is reality to back this up.  In the United States currently (2011) there are programs to help homeowners in trouble, but relatively few are designed to extend help to homeowners with extended bouts of unemployment. […]

Upside down? Prepare now to keep your mortgage current

Plonkee Money is going upside-down a little bit on her mortgage, and is getting a little worried.  She can afford the payments, but she’s concerned that if she were to be laid off she might lose everything. This is a valid concern, and she’s wise to consider how to allocate her resources to protect herself […]

Albany’s “foreclosure intervention” bill confuses me

There’s legislation ongoing in Albany, NY, that will allow judges to postpone foreclosure proceeding and modify interest rates on mortgage notes of subprime borrowers. The Wall Street Journal contends in an editorial that this is “pols … taking a whack at bank balance sheets” by giving judges the authority to put off foreclosure proceedings for […]

Now we have to worry about our neighbor’s finances

This article by Liz Pulliam Weston, entitled Foreclosure Nearby?  It’s your problem, brings up the “friendly fire” aspect of foreclosures:  a foreclosure nearby hurts everyone in the neighborhood, not just the personl foreclosed on. A neighbor who’s in financial trouble probably is worried about their house, but it’s almost certain that they’re not worried about […]

HUD tips for avoiding foreclosure: Part 2

The US Department of Housing and Urban Development has some good advice for people that are in danger of losing their home through foreclosure. I talked a little about the first three HUD tips here.  Here are some more tips from that list, with some discussion. Know your mortgage rights. “Find your loan documents and […]