Fighting to Save A Home
TOOLBOX   Resize Text
 Save/Share +
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
|
As the mortgage crisis worsens, various plans continue to be proposed to help struggling homeowners stay in their homes.
Columnists Ilyce R. Glink and Samuel J. Tamkin's write about one recently announced plan in "Delinquent Borrowers Get Extra Time, but the Problem Remains Massive" (Feb. 23).
As Glink and Tamkin report, six mortgage lenders have banned together and decided to hold off on foreclosure action for 30 days for borrowers who are 90 days or more behind on their mortgage payments. The goal is to give those borrowers a chance to negotiate better terms with their lender.
For more on the housing crisis, read "Mortgage Web Site Has Admirable Goals, But Will It Save You Money?" (Feb. 23) by Jack Guttentag and "Homeowners Losing Equity Lines" (Feb. 23) by Dina ElBoghdady.
Also, read about a move by lenders to prevent loans from being rewritten in bankruptcy cases in "Lenders Fighting Mortgage Rewrite" (Feb. 22). Congress is considering giving bankruptcy judges more latitude to change the terms of mortgage loans and reduce the amount borrowers owe.
Let's Chat Today
Author Jeff Yeager says you can nickel and dime your way into wealth. Yeager is the true embodiment of a penny pincher which is why his book is February's Color of Money Book Club pick. Join me today at Noon ET to discuss "The Ultimate Cheapskate's Road Map to True Riches" (Broadway Books, $12.95).
In his book, Yeager describes the money mantras that have worked for him, beginning and ending with a simple message: "You can enjoy life more by spending less." Read my review of his book "Slaying the 'Enoughasaurus' And Embracing Frugality" (Feb. 3).
Who Doesn't Want To Be A Millionaire?
You couldn't miss the news of Tonya and Robert Harris, who recently won $275 million in Georgia's Mega Millions jackpot.
When I heard about their story and what they said they would immediately do with some of the money I turned to my husband and said, "I bet they won't have a dime of that cash in 10 years."
I may end up being wrong, but there's lots of evidence I'm right. Robert Harris said he planned to buy a brand-new truck a day after collecting the winnings. His wife said she wanted a Mercedes. They're already talking about building a home.
