Moratorium on Mortgage Payments: Then What?

Moratorium on Mortgage Payments: Then What?

As federal banks are mandated to allow for a moratorium of mortgage payments and private banks offer or decline individual moratorium requests based on cause, what is going to happen when these mortgage payments are due? The answer is unclear for government-mandated...

Understanding Connecticut Chapter 13 Bankruptcy

At the Law Offices of Neil Crane, we are the largest provider of Chapter 13 relief in Connecticut. Many hardworking families facing debt problems and foreclosure are encouraged to count on government programs and help from their banks. While these programs may be well...

How to Stop Foreclosure in Connecticut

How to Stop Foreclosure in Connecticut

People who find themselves in the center of mortgage difficulties often don’t know how to properly stop foreclosure. However, foreclosure does not have to be inevitable. If you live in the state of Connecticut and you are struggling against foreclosure, then this blog...

Negotiating Loan Modifications to Stop Foreclosure

Negotiating Loan Modifications to Stop Foreclosure

If you reach a point where you are struggling to meet your mortgage payments, you can get the help of a foreclosure defense attorney, which means you can stop struggling! Although your mortgage repayment plans may seem to be set in stone, you are well within your...

Financial Hardship

Financial Hardship

How is a Financial Hardship determined? A hardship determination is made to ascertain whether you have had a change in circumstances that caused financial problems.  Banks want to see certain “kinds of hardships”. Common financial hardships include: illness of a...

Principal Reduction During Mortgage Modification

Principal Reduction During Mortgage Modification

Principal reduction is the process wherein the Lender agrees to take less than the borrower's full obligation to the Lender on a permanent basis. Principal reduction is extremely rare.   Lenders rarely if ever forgive principal on first mortgages in Connecticut....

Trial Mortgage Modification (Forbearance): Good or Bad?

Trial Mortgage Modification (Forbearance): Good or Bad?

“Trial modification” or Forbearance has become a very common and often short temporary mortgage solution. While the government has encouraged banks to offer temporary mortgage modification through the payment of monetary rewards to the Banks and Lenders, the practice...