New Mexico Attorney General Creates Homeownership Preservation Program to Combat Foreclosures

In response to the rising number of foreclosures in the state, the New Mexico Attorney General’s Office has created the new Homeownership Preservation Program.

In response to the rising number of foreclosures in the state, the New Mexico Attorney General’s Office has created the new Homeownership Preservation Program. The HPP is a statewide program … [Read more...]

Four of the Big Five Fail to Comply with Mortgage Settlement Agreement: What it Means for Your Mortgage or Foreclosure

Bank of America, Citigroup, JPMorgan Chase and Wells Fargo all failed various elements of the $25 billion mortgage settlement reached in February 2012.

Bank of America, Citigroup, JPMorgan Chase and Wells Fargo all failed various elements of the $25 billion mortgage settlement reached in February 2012. The settlement, which consists of 304 new rules … [Read more...]

Foreclosure Rates Have Gone Down Nationally

Trending US Foreclosure Rates: Foreclosures decline according to latest reports.

Foreclosures Rates have declined nationwide. The number of completed foreclosures (that is, the “total number of homes actually lost”) has fallen nationwide from 72,000 in November 2011 to 55,000 in … [Read more...]

Can You Stop a Foreclosure From Happening?

Can You Stop a Foreclosure From Happening? Foreclosure is a broadly used term to describe various processes that share a common purpose – the changing rights between a lender and a borrower.

Foreclosure is a broadly used term to describe various processes that share a common purpose –  the changing rights between a lender and a borrower. Like so much of modern American law, the concept … [Read more...]

Major U.S. Banks Sued for Mortgage Fraud

Bank of America Fraud

As was recently reported by CNN Money, Bank of America, one of the nation’s largest mortgage lenders, has been sued by the United States Department of Justice for mortgage fraud According to the … [Read more...]

What are Borrowers Options When They Are Unable to Pay the Mortgage?

What are Borrowers Options when they are Unable to Pay

Unfortunately in today’s economy, many people are having to face the reality that they are unable to pay their mortgage There are many options for a homeowner who finds himself in this situation. … [Read more...]

Albuquerque Area Foreclosure Rates, July 2012.

Albuquerque Foreclosure Rates

As was recently reported by Realty Trac, in July of 2012, approximately 1 in every 1,256 housing units in Albuquerque was in foreclosure. A detailed breakdown of the foreclosure rate in Albuquerque … [Read more...]

FDIC provides snapshot of New Mexico Economy

New Mexico Economy

As was recently reported in New Mexico Business Weekly by Dennis Domrzalski, the FDIC has prepared a report  providing us with a snapshot of the New Mexico economy during the second quarter of … [Read more...]

Should You Consider a Reverse Mortgage?

Basic Features of a Reverse Mortgage

What is a reverse mortgage? A reverse mortgage is when the lender provides cash to the borrower. The cash provided is based on the amount of equity in the borrower’s home. Equity is calculated based … [Read more...]

Eaton v. Fannie Mae: A Win-Win

Eaton v. Fannie Mae

In Eaton v. Fannie Mae, 2012 Mass. LEXIS 488 (Mass. June 22, 2012) The Supreme Judicial Court of Massachusetts held that, in order to sell a property under a power of sale clause contained in a … [Read more...]