How to Avoid Foreclosure
With the subprime implosion in full force recently, millions of American homeowners find themselves defaulting on loans and facing the nightmare of foreclosure. As a result of the disadvantages foreclosure offers to both the homeowner and lender, more and more Americans are looking to several other viable options to steer away from the drawn out…
American Tenants Association Unveils “Rent-to-Own” Initiative
Program will help tenants achieve home ownership and relieve banks of “toxic” assets. The American Tenants Association (ATA) (http://www.americantenants.org), the country’s only nationwide residential tenants’ advocacy group, offered solutions today to the nation’s financial crisis that are designed to dovetail with the Obama Administration’s plan to rid banks of “toxic” mortgage assets. The ATA’s initiative,…
Why Struggling Homeowners Should or Should Not Stop Paying Their Mortgage: A legal perspective from Laura I. Shidlovitsky, Attorney at Law
With 1 in 4 American homes underwater and an estimated 1.7 million in foreclosure proceedings, strategically defaulting is becoming a more popular option for borrowers. However, Strategic defaults also come with a slew of personal and legal ramifications. Attorney at Law, Laura I. Shidlovitsky discusses the unglamorous side of foreclosing and what you can do…
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