The Legist Law Blog

Recent Posts from The Legist Law Blog

• Third wave of foreclosures expected from rise in unemployment rates (NY Times)

  The foreclosures happening now–occurring mostly as a result of adjustable-rate mortgages resetting to higher rates–are going to be surpassed by a new wave of mortgage defaults. These new foreclosures will be the result of homeowners…

• President Obama signs the Helping Families Save Their Homes Act

  Fact sheet on the Act from the White House: The Helping Families Save Their Homes Act Expanding Reach of Making Home Affordable to Help More Homeowners The deep contraction in the economy and in the…

• Department of Treasury tips for avoiding mortgage modification and foreclosure rescue scams

  This useful PDF gives very useful consumer information from the Department of Treasury on avoiding mortgage modification and foreclosure rescue scams. Here’s an excerpt: If someone offers to negotiate a loan modification for you or to…

• The government’s loan modification plan is getting off to a slow start (NYTimes)

  The New York Times reports that the Obama Administration’s foreclosure-prevention plan is getting off to a slow start. Although 2.1 million homeowners are projected to lose their homes this year, the program has only assisted…

• Massachusetts Attorney General gets $60 million settlement and 714 loan modifications (Boston Globe)

  Our proactive, consumer-friendly Attorney General, Martha Coakley, has scored another victory against the architects of the mortgage meltdown. The Boston Globe reports that the Attorney General reached a $60 million settlement with Wall Street giant…

• Article on Loan Modification in Massachusetts

  If you’d like so quick tips on Massachusetts loan modifications, go to this article on How to Stop Foreclosure and Get a Loan Modification — Tips From a Massachusetts Lawyer on Ezinearticles.com. Also, check out…

• Reality Check on Mortgage Modification (NY Times)

  Congress is working on a bill to incentivize mortgage servicers to do mortgage loan modifications at $1,000 per modification. The clincher is that the bill would give servicers immunity from lawsuits by the owners of…

• Should you make your next mortgage payment?

  It used to be the case that when a homeowner wanted to get a loan modification, the first thing he or she would have to do was to stop making their mortgage payments so that…

• Massachusetts Attorney General’s foreclosure-prevention resources

  The Massachusetts Attorney General has posted a list of things to do for homeowners in Massachusetts facing foreclosure. If You Are Behind in Payments If you are currently having trouble paying your mortgage or expect…

• The FTC’s Money Matters website is a useful resource for financial information

  The Federal Trade Commission has a very useful resource for consumers interested in handling their money and financial issues called Money Matters. It has information on credit cards, managing your money, dealing with debt, your…