Mfinfo's blog

If you've defaulted on your loan payments, you must be thinking of applying for a loan modification to save the property. We, the borrowers, think that it would be beneficial for the lenders and mortgage servicers to modify the loan rather than foreclose. But in reality, things are different.

Your mortgage can disappear – sounds too good to be true, isn't it? But, it can be true if you are lucky enough. If your lender is unable to find your mortgage paperwork, he will not be able to prove that he owns the mortgage on your property. Thus, the judge can erase the debt and you have a debt-free house.

In order to have a smooth transition into retirement, you should start planning as early as possible. If you're planning for your retirement, then it's important to identify your retirement needs first. Once this is done, it would be easier for you to determine your retirement expenses and income.

According to National Consumer Law Center (NCLC), reverse mortgage would be the next sub-prime disaster. It has been noticed that the brokers are making mis-leading claims to the senior citizens in order to give them reverse mortgages. Also, the lenders who were responsible for the real estate boom and the resulting crisis from it are now targeting seniors for reverse home loan scams.

How do lenders scam seniors looking for reverse mortgage?

In the recent times, it has been noticed that the premiums for homeowners insurance are on the rise. Your premium may even rise if there has been a national disaster in your area. Even increase in crimes in your area can lead to a rise in your insurance premiums even though you haven't made a claim. However, the best part is that, there are various ways to offset this rise and lower your premiums for homeowners insurance. Just have a look at some of those ways:

With the collapse of Lehman Brothers about a year ago, we came face to face with the financial meltdown, which led to severe unemployment and depletion of retirement savings. Though the economy and the stock market have recovered to some extent, there are certain timeless lessons which the financial meltdown has given us. Let's take a look at it:

The extension period for tax filings would end on October 15th, 2009. Though a large number of people have filed their tax returns within April 15th, 2009, some of us would be filing within this extension period. Tax filings can be quite hectic and a small error will lead to the loss of your deductions or credit. So, what are the common mistakes you should avoid while filing tax returns? Just, check it out:

Last month, Federal Trade Commission (FTC) filed a lawsuit against a Florida-based company, which had victimized more than 3,100 homeowners nationwide with their loan modification programs. The firm has been shut down for now and they have even agreed to pay off $4.1 million judgment. Also, they have agreed to work under the close monitoring by federal officials in future.

Lots of people are of the opinion that the real estate market is coming out of the crisis. But experts have opined that a large number of homeowners may find themselves in worse situation within the next two years.

It's very important to know if your home is underwater or not. Check out 4 important signs to know whether or not your property has lost value.

Real estate agents are very busy these days as they are trying to finalize deals with clients who want to take advantage of the federal tax credit for first time homebuyers. The tax credit for first time homebuyers will expire on November 30th, 2009. Will this tax credit get extended? – that's the question everyone in the real estate industry is asking.