Year: 2011

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The Michigan Supreme Court reversed a Court of Appeals decision that had held the Mortgage Electronic Registration Systems (MERS) could not foreclose by advertising. The Court of Appeals had found that because MERS was not the owner of the note, the statute limited...

In an effort to help boost the stagnant economy, the Obama Administration is proposing a new program to help struggling homeowners. The program, which could help up to 1.6 million homeowners who are currently "underwater" on their mortgage - a situation that occurs...

The collapse of the U.S. real estate market and the ongoing mortgage foreclosure crises continues to impair significant improvement in the economy. The LA Times reports "Nationally, new single-family homes sold at a seasonally adjusted annual rate of 298,000 in July,...

Michigan law currently allows mortgage holders to begin the foreclosure process on properties by advertisement. However, lawmakers are pushing to change this law due to instances of fraud that have recently come to light. Foreclosure by Advertisement Foreclosure by...

In these difficult economic times, more and more people are feeling overwhelmed by credit card debt, medical bills and other expenses. As the economy continues to limp along, people in need of extra cash because of burdensome consumer debt are borrowing from their...

Statistics from RealtyTrac, a marketer of foreclosed properties, show that the number foreclosure notices given to homeowners across the country declined in May 2011. Yet, Michigan residents continue to struggle with foreclosures in a state with one of the highest...

For many Michigan homeowners facing foreclosure, a Michigan Court of Appeals' ruling has made it more difficult for the Mortgage Electronic Registration System (MERS) to take their homes. For lenders, MERS provides a valuable service. MERS takes mortgages held by...

In the midst of an economic downturn that has led many families to lose their homes, the Michigan Legislature, under HB 4542-4544, appears to be proposing the almost unthinkable - speeding up the post-foreclosure process. The proposed law - while helping families...

When debt collectors call incessantly, it can be tempting to simply avoid the phone. However, if debt goes unpaid and unaddressed, those struggling to cover their bills could be at risk for losing a portion of their paychecks to creditors automatically. There are many...

As the recession drags on, many debtors are finding it increasingly more difficult to negotiate or otherwise deal with banks or other creditors. While there may be "options" advertised on television or the Internet - including debt consolidation - many of these...