Loan modifications have become very popular recently as a result of the housing industry crisis and overall global economic meltdown. There were more than three million foreclosure filings in 2008. This is an increase of 225 percent more than in 2006 the year just before the real estate market started its decline. [...]
When it comes to foreclosure, some people are not sure whether they must allow that to take place, or maybe file for bankruptcy. If you go into the decision thinking that you must choose one or the other, then the decision is going to be even more difficult than it already would be – [...]
By Dan North
So you are upside down on your mortgage and you are under financial stress. If you could only hold on till property values come back up. Maybe you have it under control for the moment but there is an adjustment on the horizon or a balloon payment coming up or there may be [...]
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