tag:blogger.com,1999:blog-75189942738263042102024-03-13T15:34:51.103-04:00Aline Your Debt @ Strategic Default MonitorStrategies to Manage Mortgage, Student, Credit Card and Business LoansAugustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.comBlogger138125tag:blogger.com,1999:blog-7518994273826304210.post-74639575658783207752020-04-07T03:30:00.000-04:002020-04-07T03:30:02.874-04:00Borrowers are entitled to Temporary Relief from Federal Student Loan Payments and Collections – Coronavirus Stimulus Bill 2020Section 3513 of the Coronavirus Stimulus Bill suspends student loan payments through September 30, 2020. Monthly interest will not accrue while the suspension is in effect. During the suspension, the student loan borrower’s credit report will not reflect missed payments.Section 3513 suspends all collection actions involving a student loan including the suspension of wage garnishments, reductions Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-50153138857055680272020-04-06T15:30:00.000-04:002020-04-06T15:30:06.405-04:00Multifamily (5 or more residential units) Borrowers can get a Mortgage Loan Forbearance During COVID-19 Emergency – Coronavirus Stimulus Bill 2020Section 4023 of the Coronavirus Stimulus Bill requires lenders and servicers to provide up to 90 day forbearance to multifamily borrowers with a Federally back mortgage loan.
Section 4023 entitles a multifamily borrower to an initial 30 day loan forbearance with the right to ask for 2 additional 30 day forbearances so long as the multifamily borrower submits a hardship request at least 15 Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-11356844092885260632020-04-03T15:30:00.000-04:002020-04-03T15:30:00.901-04:0060 Day Foreclosure Moratorium Alert – Coronavirus Stimulus Bill 2020 Section 4022 of the Coronavirus Stimulus Bill contains a moratorium against initiating judicial or non-judicial foreclosures on any property owner with a Federally backed mortgage loan.**The moratorium prevents any foreclosure related action for 60 days beginning on March 18, 2020. This moratorium applies to first and second mortgages on cooperatives, condominiums and 1 to 4 family properties. IfAugustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-12401224122090635382020-04-02T15:30:00.000-04:002020-04-02T15:30:00.293-04:00Mortgage Lenders and Servicers Must Provide Homeowners with Loan Forbearance During COVID-19 Pandemic – Coronavirus Stimulus Bill 2020Section 4022 of the Coronavirus Stimulus Bill requires mortgage lenders and servicers to provide homeowners with up to 12 month forbearance on a Federally back mortgage loan**.Section 4022 entitles a borrower to a 180 day loan forbearance with the right to ask for an additional 180 day forbearance so long as the borrower submits a hardship request stating that he or she is experiencing a Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-13830027683128261922020-03-31T15:00:00.000-04:002020-03-31T15:00:00.721-04:00Penalty Free Withdrawals of up to $100,000 allowed for 401(K) Retirement Accounts – Coronavirus Stimulus Bill 2020Section 2202 of the Coronavirus Stimulus Bill allows for penalty-free withdrawals of up to $100,000 from 401(k) retirement accounts. Typically, if you wanted to withdraw money from a 401(k) retirement account prior to the age of 59 1/2 a 10% penalty would be due. Section 2202 now eliminates the penalty.Besides the temporary elimination of the penalty you can prevent the payment of income taxes onAugustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-71447773963862784862020-03-30T15:30:00.000-04:002020-03-30T15:30:01.469-04:00Tenants Living in Properties that have a Federally backed Mortgage Loan Cannot Be Evicted During the COVID-19 Emergency – Coronavirus Stimulus Bill 2020Section 4024 of the Coronavirus Stimulus Bill prevents property owners with Federally backed mortgage loans from evicting tenants for non payment of rent. The eviction moratorium applies to any tenant living in a cooperative, condominium, 1 to 4 family building or a multifamily (5 or more residential units) building. The eviction moratorium also applies to tenants living in housing under the Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-39599958483133527892020-03-24T16:52:00.002-04:002020-03-29T15:38:51.021-04:00Coronavirus is a Natural Disaster of Immense Proportions that Impacts Real Estate - Latest News - 3-24-2020In the past 3 months COVID-19 aka the coronavirus pandemic has upended all beliefs regarding the speed in which fear can grip the world. Coronavirus is a natural health and economic disaster of immense proportions. The impact of the coronavirus pandemic upon real estate will be felt for years to come. First. The negative economic effects of the coronavirus has caused the Federal Reserve to use Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-83943963277624262442019-05-23T12:37:00.000-04:002020-03-29T15:13:45.301-04:00Are You Considering a Strategic Default for your Student Loan?
The Growing Culture Of Student Loan Defaulters Fighting The
System With Strategic Default
Student loan default is widely regarded as a giant financial
mistake and most people only go into default as a last result or because they
think they have no other options. However, over the last few years, a growing
culture of intentional student loan defaulters have risen whose stated goal is
to "fight Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-73859693240896762762019-04-29T19:30:00.000-04:002019-04-29T19:31:35.824-04:00Latest Mortgage Loan and Research News New York Launches Its Own Consumer Protection Finance Bureau
The NYDFS announced Monday that it is creating a new division that will focus on consumer protection and financial enforcement. The new division combines the previously separate Enforcement and Financial Frauds and Consumer Protection divisions into one entity. According to the NYDFS, the new Consumer Protection and Financial Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-73332293126495376892019-03-21T20:00:00.001-04:002019-03-21T20:00:52.125-04:00Latest Mortgage and Financial News - 3-21-2019Wall Street's Love Affair with Risky Repackaged Debt
The financial markets today are looking very much like they did a decade or so ago. And that can mean only one scary thing: Trouble is imminent. Just as they did in much of 2007 and 2008, before the markets exploded in a crisis of epic proportions, investors in the debt market, which is even larger than the equity market, are Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-11969414509794597622018-09-25T22:30:00.006-04:002018-09-26T23:59:39.622-04:00Latest Student Loan, Mortgage Loan and Foreclosure News - 9-26-2018
The
Growing Culture Of Student Loan Defaulters Fighting The System With Strategic
Default
Strategic default is simple: it's the intentional
act of going into default on your student loans. However, there's still a
misnomer here Joshua Cohen, a student
loan debt attorney, sums it up best: "First, when we say
strategic, that almost sounds like it’s purposeful. I think that’s incorrect.
Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-24180813333188137102018-04-04T13:09:00.000-04:002018-04-04T13:15:22.188-04:00Can Reducing Court Delays and Narrowing Scope of Homeowner Protection Laws Contain the New York Foreclosure Epidemic? New York Judge Thomas F. Whelan in his article entitled, The Long Island Foreclosure Epidemic, projects a light on the causes of the extensive delays in New York foreclosure lawsuits. There is no question that a foreclosure lawsuit can take up to 8 to 10 years to finish.
Judge Whelan writes that state laws created to protect homeowners can be used as a weapon instead of a shield to delay Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-75242829369882864072018-01-31T10:43:00.000-05:002020-03-29T15:15:37.960-04:00How I Created a Brighter Financial Future for Myself, My Family, and My Business by Helping Home Owners Save Their PropertiesHello my name is Augustine Diji. In 2010, I wrote the book Strategic Default: How to Create a Brighter Financial Future for You,Your Family or Your Business. Since then I have helped many people save their homes or investment properties from foreclosure. With my assistance homeowners obtained loan modifications. I devised strategies for “holding off” lenders during foreclosure proceedings by Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-5619303115552273402018-01-08T13:15:00.003-05:002018-01-31T10:23:09.978-05:00Latest Mortgage & Real Estate News - 1-8-2018Homeowners are Sitting on Trillions in Cash
Following the housing crash, millions of borrowers fell underwater on their mortgages, owing more than their homes were worth. Fast-rising home prices over the last two years have brought borrowers above water and beyond. Approximately 80 percent of homeowners now have equity they can use, cash which could fuel the economy. Just 2.7 percent of Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-36168403463654357322017-12-23T12:36:00.001-05:002018-04-12T12:29:43.747-04:00Latest Mortgage & New York Foreclosure News - 12-23-2017The Federal Housing and Finance Agency Changing Credit Models To Expand Homeownership Opportunities
FHFA’s request for input is a step forward towards creating a marketplace where credit scoring models can be judged on their predictiveness, innovation and inclusivity instead of the status quo where the government has created a de-facto monopoly for FICO,” said Barrett Burns, VantageScore Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-16966640263999248742017-10-02T12:03:00.000-04:002018-01-31T10:48:26.685-05:00Latest Student Loan News - 10-2-2017
Half all Millennials would Give up Their Right to Vote to have Their Student Loans Forgiven
It's not news that millennials are in debt. 42.3 million Americans owe a total of $1.33 trillion in federal student loans, according to the U.S. Department of Education. 20-somethings pay on average $351 a month, reports the Federal Reserve. The median monthly payment for that age Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-81277150463157644722017-07-18T12:14:00.003-04:002018-01-31T10:25:58.245-05:00Latest Student Loan News - 7-18-2017
As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away
Tens of thousands of people who took out private loans to pay for college but have not been able to keep up payments may get their debts wiped away because critical paperwork is missing.
The troubled loans, which total at least $5 billion, are at the center of a protracted legal dispute between the student borrowers and a Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-69277176781535450792017-05-09T20:07:00.002-04:002018-01-31T10:27:45.979-05:00Latest New York Foreclosure News - 5-9-2017
Repeat foreclosures in New York City have reached an all-time high
New York homeowners are in default mode — again. The city leads the nation in repeat foreclosure filings and the winner in all this is the residential mortgage servicing industry, which collects monthly payments and cashes in on fees for every homeowner’s misfortune. The number of repeat foreclosure filings in New York City far Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-12481511546777183512016-11-01T13:58:00.001-04:002018-01-31T10:28:28.579-05:00Latest Foreclosure News 11-1-2016Freddie Mac Plans to Make Crisis-Era Foreclosure Prevention Permanent
Freddie Mac is working with it's regulator the Federal Housing Authority to "create permanent foreclosure-avoidance programs as" HAMP is set to expire this year, December 31, 2016 and HARP is set to expire on September 30, 2017. Read more at HousingWire.com.Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-42965629859769595952016-10-31T13:55:00.001-04:002018-01-31T10:29:05.748-05:00Boomerang Borrowers are Here!!Housing Wire reports on the rise of the "Boomerang Borrower". Essentially, a "Boomerang Borrower" is a borrower who has established "responsible credit behavior" and "improved" credit scores. These borrowers, once hit by the 2008 and 2009 financial crisis (foreclosure, short sales, etc.), are now experiencing the removal of negative credit data from their credit report due to the seven year limitAugustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-33952303166727474062016-09-29T11:51:00.000-04:002018-01-31T10:30:06.462-05:00New York Foreclosure Alert - 9-29-2016New York recently adopted sweeping legislation to reform the foreclosure process. New York's Governor, Andrew M. Cuomo, signed legislation into law that:1. Enhances the effectiveness of settlement conferences for homeowners by prescribing the rights and duties of the parties and clarifying how the process should work to best protect homeowners contesting foreclosures and prevent them from losing Augustine Dijihttp://www.blogger.com/profile/06776583584776124419noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-53486118592568059532016-08-10T13:13:00.000-04:002016-08-22T10:43:34.043-04:00Latest Foreclosure News 8-22-2016More homeowners taking loan modifications, avoiding foreclosures 8-17-2016
The mortgage industry completed over 100,000 permanent modifications during the second quarter, according to HOPE NOW, the voluntary private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors. Of the 100,000 loan modifications, about 69,000 homeowners received proprietary Anonymoushttp://www.blogger.com/profile/17898045093175683478noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-5976559637166049362016-07-20T12:39:00.001-04:002016-07-20T12:39:54.674-04:00The Current Loan Modification TrendFor the past several months, loan modification activity have been evident to be in a decline according to data from sources such as the Hope Now alliance. Moreover, the vast majority of the modifications were made via proprietary programs, while a smaller portion were completed through the Home Affordable Mortgage Program. However, this drop does not necessarily always indicate bad news as Anonymoushttp://www.blogger.com/profile/17898045093175683478noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-76759368071156409782016-07-18T15:33:00.001-04:002016-07-18T15:33:17.296-04:00Weekly Alert: The Terror of Payday Loans
Introduction
What are payday loans? Simply put, a payday loan is a short-term loan (originally meant to be lend out for a few days or a couple of weeks) at a relatively high interest rate. However, they're often times targeted to low-waged individuals and are designed to tide them into a situation where they find themselves constantly unable to pay off the resulting interest amount.
ObjectiveAnonymoushttp://www.blogger.com/profile/17898045093175683478noreply@blogger.com0tag:blogger.com,1999:blog-7518994273826304210.post-65978420798432574702016-05-26T11:54:00.000-04:002016-05-26T11:54:12.019-04:00NYS States Mortgage Assistance Program
NYS-MAP
The New York State Mortgage Assistance Program (NYS-MAP) provides home-saving loans to families who are at risk of foreclosure. By averting foreclosure, the program also protects surrounding property values and preserves neighborhood stability.
Program Overview
NYS-MAP is a foreclosure-prevention loan fund that helps homeowners who are unable to get assistance from other sources.
Anonymoushttp://www.blogger.com/profile/17898045093175683478noreply@blogger.com0