Vlog: Stripping a 2nd Lien in Chapter 13 Bankruptcy
Randy M. Creighton, Esq., of Black & LoBello explains what you should know before you try to get rid of your second mortgage by declaring Chapter 13 bankruptcy in the state of Nevada.
REALITY CHECK: Loan Modifications Rarely Include A Principal Reduction
Las Vegans are subjected to a non-stop barrage of commercials and advertisements from people and companies promising principal reductions through loan modifications. However, the majority of loan modifications do not include a principal reduction. The majority of loan modifications come in three different forms: The lender reduces your interest rate to no lower than 2%; The […]
Bank of America’s Principal Forgiveness Program Begins
On June 2, Bank of America began its new mortgage program for eligible underwater borrowers which includes an earned principal forgiveness in a loan modification. Bank of America mailed out an initial round of letters notifying customers who may qualify. Upon review of these customer applications, the first trial offers for the program could find […]