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Foreclosure Help
Foreclosure Assistance
Loan Modification
A Loan Modification Attorney can
Transform your current Mortgage
The Feldman Law Center can negotiate with your current
lender if you are behind on your mortgage & need help.
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Have you suffered a financial hardship?
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Are you a victim of predatory lending?
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Has a foreclosure auction date been set?
* Do you want to avoid a foreclosure on your
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Foreclosure News
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Facing foreclosure, avoid scams. Are you having trouble making your mortgage payments? Are you facing foreclosure (http://www.feldmanlawcenter.com) on your home? Get all the facts before you pay someone to help you work out your mortgage problems. According to the U.S. Department of Justice, bankruptcy foreclosure scams are targeting consumers whose home mortgages are in trouble. The fraudulent operators may promise to take care of your problem with your mortgage lender or to obtain refinancing for you. Sometimes they also ask you to make mortgage payments directly to them. They have even been known to ask the homeowner to hand over the property deed, claiming that if the homeowner then makes the mortgage payments to them, they will be able to in stay in their home. Instead of contacting your lender or refinancing your loan, the con artist pockets all the money you paid, and then files a bankruptcy case in your name -- sometimes without your knowledge. A bankruptcy filing often stops a home foreclosure, but only temporarily. If a bankruptcy is filed in your name but you do not participate in the case, the judge will dismiss the case and the foreclosure proceedings will continue. If this happens, you will lose the money you paid to the scam operator -- and you could lose your house. You will also have a bankruptcy listed on your credit record for at least 10 years. Here are some tips to help you select a viable loan modification or foreclosure assistance program• Calls itself attorney based or a attorney model company.• Has no refund or partial refund policy if our loan modification is not a success. • No 800 number, hard to reach, and no contract or upfront agreement.• Tells you to make your home mortgage payments directly to the individual or company. • Tells you to transfer your property deed or title to the individual or company. Some Tips provided by the BBB.To assure you are not the next vicim of foreclosure fraud or a loan modification scam please contact:The Feldman Law Center
Payment shock leads to foreclosure Just over a year ago a new homeowner looking to purchase a home could borrow up to 100% of the home value. Even with a credit score of 500 and a sheet full of collections, judgments and auto repossessions. Now at a very high rate these mortgage loans are adjusting and putting a strain on homeowners.
A big question being asked by homeowners that are the victim of home foreclosure is can I can deduct the losses from my foreclosure on my 2008 or 2009 taxes.The answer is No, you can not report losses on your tax returns for the year.There are special rules when selling your primary residence. If you sold it for a gain you would not have to report any capital gains from the sale. So it is the same for when you lose money on the sale of your home. Foreclosures or repossesion of property are treated like sales. The other issue on the table is the forgiveness of debt. Ordinarily when an asset is repossessed and the debt forgiven is greater than the fair market value the difference must be reported on your tax return as ordinary income. Since this is your primary residence that income is also excluded. You must report the debt forgiveness on Form 982 with your 2008 tax return but it is not included in income. This would be a good year to have a tax professional prepare your return so as not to miss any details.Avoid foreclosure with loan modification by the Feldman Law Center
Late mortgage payments will destroy your credit rating and eventually lead to foreclosure. Late mortgage payments are more common than ever due to historic job loss, layoffs, and adjusting mortgage rates. Adjustable mortgage rates are big part of the foreclosure crisis but recent reports show that many other mortgage types are creating late mortgage payments.
Obama says mortgage crisis must be resolved WASHINGTON — President-elect Barack Obama Saturday said he will nominate New York housing official Shaun Donovan as Secretary of Housing and Urban Development , calling the job essential to restoring the economy. To end this economic crisis, we must end the mortgage crisis where it began. This all started when Americans took out mortgages they couldn't afford, Obama said in a text of his weekly radio address to be delivered Saturday morning.
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