I have posted many articles on preventing foreclosure or modfiying a mortgage. For more information, just search this blog using the “Find It” option on the right. Here is a summary of some things a mortgagor/homeowner might consider. If you have a New York property and would like to discuss any of these options, please call or email me. Read more

Many homeowners who are in trouble with their mortgage or who are looking to modify their payment terms, also may have student loan debt. For many, repayment of student loans are deferred for a time but eventually the deferrment runs out, leaving the borrower with a payment that can be difficult. For some, the end of a deferrment is the straw that breaks the camel’s back, so to speak. The Associated Press is now reporting on a new program that may provide some relief:

NEW YORK (AP) — Repaying a student loan could soon be a little less painful.

It is being reported that New York Atty. Gen. Cuomo is suing and serving subpoenas to investigate various national loan modification companies for illegal activities, including making false promises of results and for seeking advance payment of fees in violation of New York law which prohibits foreclosure rescue scams. I have blogged on this subject before and about why homeowners should use a local attorney for this.