Herrin Law | foreclosure attorney
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foreclosure attorney

Delinquent on your home mortgage payments? You may be in luck. For borrowers whose loans are owned or guaranteed by Fannie Mae or Freddy Mac, the Federal Housing Finance Agency (or FHFA) will soon offer a Principal Reduction Modification Program to borrowers that meet certain eligibility requirements. The program was implemented with the goal to “maximize assistance for homeowners” and “minimize foreclosures.” (See Emergency Economic Stabilization Act of 2008). The modification will be available to “owner-occupant...

There are many reasons why someone might choose to file for bankruptcy; however, two of the most prevalent reasons are (1) a debtor’s need for relief, and (2) a desire to preserve one’s assets. For some people, the reasons might be as sentimental as they are financial, such as trying to hold on to a home with a mortgage the debtor is struggling to pay. While on the other hand, for businesses, filing for bankruptcy...

When you surrender your home in bankruptcy, you are discharging the debt associated with your home.  This includes all debt associated with the home (property taxes, liens, mortgages, homeowner association fees, etc.). Once you file bankruptcy and notice goes out, you should not be receiving any collection letters from your creditors.  If you are then you need to consult with your attorney as those creditors may be violating federal bankruptcy law. An important thing to remember is...

The Loan Modification process can be one of the most stressful experiences a homeowner can go through.  Anyone who has had experience with a loan modification can attest to the fact that the mortgage companies do not want to approve the loan modification.  They use subtle tactics to achieve this result.  For instance, in order to apply for a Loan Modification you are required to complete what is known as an RMA Packet.  In addition...

Foreclosure can happen to anyone. There were nearly 2 million foreclosures in the US in 2012.  The Dallas area ranked 11th among major cities in foreclosures during that same year. However, all is not lost, there are several tools that a homeowner has that can help stop a foreclosure but this blog is going to focus on Bankruptcy. When you file a bankruptcy under title 11 of the united states code, there is an automatic stay that goes...