Foreclosed homeowners could owe ‘tens thousands of dollars’ to lenders

Currently, if a homeowner defaults on a mortgage used to purchase his or her home — known as a “purchase money mortgage” — the homeowner’s liability on the mortgage is limited to the property itself.  Unfortunately, the original law did not extend...

Loan modification dropouts rise

MORTGAGE HELP: To complete the program, borrowers have to make at least 3 payments on time and show much documentation. The number of homeowners dropping out of the Obama administration’s main mortgage assistance plan is growing, and is now almost equal to the...