Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.
Archive for January, 2010
Jan
26
How Badly Does A Short Sale Affect Your Credit?
Posted by: | CommentsI am considering a short sale on my home in order to avoid foreclosure, but before I proceed, I would like to know how it will affect my credit. Will it be as bad as a foreclosure? How long will it be before a bank will consider loaning me the money to buy another home?
Jan
26
Pre-Foreclosure Notice for Sub-Prime Loans
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Pre-Foreclosure Notice for Sub-Prime Loans
The North Carolina legislature has enacted new legislation to help homeowners with subprime loans avoid foreclosure. If a homeowner with a subprime loan defaults on his loan, the lender is now required to send to the homeowner a Pre-Foreclosure Notice at least 45 days prior to filing the Notice of Foreclosure Hearing. The Pre-Foreclosure Notice must include an itemization of all past due amounts and other charges that need to be paid in order to bring the loan current as well as a statement that the homeowner may have options available other than foreclosure. In addition, the Notice must also include contact information for the lender, the North Carolina Office of Commissioner of Banks and other HUD approved foreclosure counseling agencies.
The intent is to give homeowners who have fallen behind on their mortgage notice before their house is actually in foreclosure that they may be facing foreclosure in the near future and that there are options available that may allow them to save their home and/or their credit score.
Dan Zellers and Scott Rudd- Founding Partners
Dan Zellers, originally from Ohio, earned his undergraduate degree in finance and management from Defiance College and his law degree from the University of Toledo College of Law. He is a member of the North Carolina Bar, South Carolina Bar, Mecklenburg County Bar and the North Carolina Bar Association. His practice is focused on residential and commercial real estate, foreclosure alternatives, landlord-tenant laws and estate planning.
Scott Rudd, a North Carolina native, earned his undergraduate degree in accounting from Campbell University and his law degree from the Norman Adrian Wiggins School of Law at Campbell University. He is a member of the North Carolina Bar, Mecklenburg County Bar and the North Carolina Bar Association. His practice is focused on residential and commercial real estate, business formation and litigation, foreclosure alternatives and work with homeowners’ associations.
Prior to founding Zellers Rudd PLLC, Dan Zellers and Scott Rudd worked together in the real estate finance group of some of the top international law firms in the nation. They represented large national banks and servicers in multi-million dollar commercial property transactions as well as multi-billion dollar commercial loan securitizations. These transactions included the negotiation of large servicing contracts as well as conducting large commercial loan transactions, loan assumptions, defeasances, parcel releases, and other consent matters on large commercial properties located all across the nation. In addition, their work prior to that has afforded them extensive experience in all aspects of residential real estate and residential real estate transactions including loan closings, foreclosure, landlord-tenant law, work with homeowners’ associations, default judgments and private transactions.
For more information about Charlotte foreclosure and foreclosure alternatives, please visit: http://zellersrudd.com/areas_of_practice/foreclosure_alternative.aspx
(ArticlesBase SC #1127685)
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Jan
25
Are Companies That Advertise To Fix Your Credit Reliable?
Posted by: | CommentsI have bad credit with a foreclosure and bankruptcy. In the past my husband and I paid a company almost $1,500 to help us avoid foreclosure but they never accomplished anything. I would like to get some guidance on the best way to improve our credit.
Jan
25
FHA Foreclosure Loan- Avoid Foreclosure and Refinance Your Loan
Posted by: | CommentsWith the growing problem of many people loosing their jobs and not being able to keep up with everything to include house payments. Many people are looking for alternatives to keep their homes and keep their families safe.
There is a way FHA is now offering people the opportunity to avoid foreclosure through potentially refinancing your loan. . But, you have to be careful, depending on the way your home loan is set up, this could be difficult.
Natalia Osorio Editor of the “Stop Foreclosure Loans” website — http://www.StopForeclosureLoans.org — pointed out;
“…The best thing to do, is to call your mortgage company to find out. The companies don’t want you to loose your homes, far from it. In many cases the companies actually would rather help the lenders…”
Check and see if your lender is working with FHA. See if they are working with FHA to help their lenders with the problems they are facing, many may not, but it is possible to see if FHA can put you in touch with a bank that may be able to help you. Some companies may have a special program like this in place. Don’t avoid your company, the best bet is to see if they will work with you in this rough economic time that all of us are facing.
“…There are many websites that are offering specific information about your options. Your best bet is to make sure you jump right away to take care of all of your basic needs. Thus making sure you have everything covered…” N. Osorio added.
Further information about how to get professional assistance with a mortgage loan modification by http://www.StopForeclosureLoans.org
Jan
24
Foreclosure On Credit Report After Bankruptcy?
Posted by: | CommentsI filed bankruptcy two years ago, after my lender initiated foreclosure. According to the bankruptcy lawyer, having the mortgage included in the bankruptcy would avoid having a forclosure on my credit report. Recently I found that the lender is still reporting the loan as a foreclosure. I disputed the item, and got back a reply stating, “This creditor has
verified to Equifax that the current status is being reported correctly”. Am I correct in thinking that the item should be changed? If so, how should I proceed? If the item is changed to reflect inclusion in the bankruptcy, will it still show the payment history?