Dieppa Law BlogLoan Modification
Surprise! Principal Reductions Key to Fixing Defaults
Unsurprisingly, Deutsche Bank recently reported its findings that re-default rate of modified loans with principal reductions (debt forgiveness) were lower than those with no debt reduction. I have attached the link for the article. I expect the Treasury Department to push more major banks to streamline the process of partial debt forgiveness in order to [...]
Misinformation from Bank Reps is Normal Practice
If you wonder why people distrust banks, who have become public enemy number one, you can start with misinformation (if not, outright deceit) that comes from the bank representatives on a daily basis. The misinformation ranges from calls telling homeowners that their property is about to be sold when a foreclosure hasn’t even been started [...]
Tax Credit for First-Time Homebuyers (from www.irs.gov)
First-time homebuyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008. Available for a limited time only, the credit: Applies to home purchases after April 8, 2008, and before July 1, 2009. Reduces a taxpayer’s tax bill or increases his [...]