CNN reported this morning that the Senate worked on a Saturday to reach a compromise on President Obama’s stimulus package. As originally written the package contained a foreclosure fix: letting bankruptcy judges modify mortgages. Today’s package lives on without any help at all for a family about to lose their home.
But, if the stimulus package does [...]
Posts on ‘February 7th, 2009’
The Stimulus Package, Without A Fix For Foreclosures, Is Edging Closer To Passage.
1 in 7 homes in Santa Clara County is ‘underwater’
Not only are 14% of homes in Santa Clara County worth less than the debt on the property, 27% of houses purchased in the last five years are underwater according to the San Jose Mercury.
In my practice I’m seeing a substantial number of long time homeowners who have refinanced loans that are either now larger [...]