Foreclosure & Foreclosure Prevention
Know the Law
This section has information about Foreclosure in Oklahoma.
General information about options available to avoid foreclosure and about the foreclosure process.
Principal Reduction Alternative in the Home Affordable Modification Program (HAMP) has IRS Consequences
Borrowers receiving aid under the HAMP–PRA program may report any discharge of indebtedness income either in the year of the permanent modification of the mortgage loan or ratably over the three years in which the mortgage loan principal is reduced on the servicer’s books.
If you've recently lost your job, your first thoughts may be, "how will I make ends meet." Money matters are a source of stress and frustration for many people. The Federal Trade Commission (FTC) publishes free brochures spelling out your rights when it comes to fair debt collection and credit reporting practices.
Owning a home is part of the American dream. But high home prices may make the dream seem out of reach. To make monthly mortgage payments more affordable, many lenders offer home loans that allow you to (1) pay only the interest on the loan during the first few years of the loan term or (2) make only a specified minimum payment that could be less than the monthly interest on the loan.
Carlos L. McDade, Esq., of Black & LoBello explains some of the benefits of the Servicemembers Civil Relief Act and how banks, specifically, JP Morgan Chase, complies with its requirements.
Part 2 in a series for Individuals with Military Connections that may benefit from the protections and rights provided by the SCRA Consumer Law Protections.