July 04, 2012 (Press-News.org) Bank of America May Reduce Mortgages For Some New Jersey Residents
As part of an $11.8 billion dollar settlement, Bank of America is mailing letters to many of its mortgage customers offering loan modifications. Approximately 200,000 customers, including some in New Jersey, could be impacted by these loan modifications. Some Bank of America loans will be reduced by as much as $100,000. To qualify, borrowers must be at least 60 days behind on payments and owe more than the house is worth, among other criteria.
More than 11 million American households owe more than their home is worth, in many instances as the result of shady and improper mortgage practices. The Bank of America settlement, which is part of a larger $25 billion settlement, stems from litigation over illegal foreclosure practices.
During the housing crisis of the past several years, many banks and lenders allegedly committed fraudulent acts in the processing of foreclosures in order to streamline and make the process more profitable. These alleged illegal acts included a failure to verify required foreclosure documentation and the use of "robo-signing" - which refers to a process in which groups of employees would sign documentation without proper review or authority.
The intention behind the settlement is to help aid the multitude of individuals affected by these actions, but it may not provide the relief necessary for all homeowners who are currently underwater on their mortgage. For New Jersey residents who are not fortunate enough to be included in the Bank of America offer, filing bankruptcy can be a viable option to aid in financial recovery.
What Bankruptcy Offers
Filing bankruptcy can often allow a person the opportunity to delay foreclosure actions and give the filer the chance to plan for a new, more stable financial future. For some New Jersey residents another option is the Loss Mitigation Program. The LMP is a place where debtors and lenders can meet to determine if there is a mutually agreed upon resolution to avoid foreclosure. This includes the possibility for a debtor to modify or refinance their loan and even put the loan into forbearance.
No matter the financial circumstance, there are options available to help those in difficult positions regain financial footing. If an individual is going through financial uncertainty, meeting with an experienced bankruptcy attorney can help plan a path to a fresh start.
Article provided by Goldman & Beslow, LLC
Visit us at www.nj-bankruptcylaw.com/
Bank of America May Reduce Mortgages For Some New Jersey Residents
A recent settlement may reduce the mortgages of New Jersey residents who were facing foreclosure, but it also serves as a reminder for alternative resolutions for those facing foreclosure.
2012-07-04
ELSE PRESS RELEASES FROM THIS DATE:
Seaman Fatigue: A Hidden Problem with Serious Consequences
2012-07-04
Seaman Fatigue: A Hidden Problem with Serious Consequences
Most Americans have experienced fatigue in the course of their work lives, such as trudging into work after a sleepless night or carrying life's worries into the workplace. Unfortunately, working while fatigued can be particularly dangerous for those who are in charge of the nation's most complex machinery like airplanes, trains and ships.
What is Fatigue?
According to the National Transportation Safety Board (NTSB), fatigue is caused by poor quality sleep or insufficient sleep due primarily to a worker's ...
Hampton Inn Spartanburg Hotel North Offers Special Rates to Choral Festival 2012 Participants
2012-07-04
Hampton Inn Spartanburg Hotel North offers nearby lodging and special rates to attendees at the 2012 Choral Festival for Christian music supply. The event will take place at First Baptist Church of Spartanburg on August 2-4, 2012, with a bonus night, open to the community, on August 1. Participants can book special hotel rates of $74 per night at the Hampton Inn Spartanburg North. The special rate is subject to availability; some restrictions may apply.
The Choral Festival 2012 will include offering over 45 specialized workshops covering virtually every aspect of church ...
Attend National Black Arts Festival and Stay at Hampton Inn & Ste Atlanta Airport Hotel on North I-85
2012-07-04
The Hampton Inn & Suites Atlanta Airport Hotel (North, I-85) offers nearby lodging to guests attending the National Black Arts Festival (NBAF ), a celebration of the art, music, and culture of people of African descent. The summer festival takes place July 6-15, 2012, with a few exhibits running longer. The main weekend of the festival is July 12-15, with events taking place at Centennial Olympic Park and other venues in Atlanta, GA.
NBAF 2012 events include:
- "Guess Who's Coming to Dinner", performance (July 10 - 29)
- Coretta Scott King Awards Book ...
National Trust Heritage Gardens Benefit From Major New Plant Conservation Centre
2012-07-04
Rare plants from National Trust gardens across the country will be propagated at a new Plant Conservation Centre that will improve the way one of the most important plant collections in the UK is cared for.
Opened by international plantsman Roy Lancaster, the new 2.5 acre facility at a secret East Devon location will bring together plant propagation facilities, plant collection management expertise and facilities for training National Trust staff on all aspects of caring for the important plants in the gardens they look after.
The opening of the new facilities comes ...
British Airways and One Direction to Host High Flying Dinner Date
2012-07-04
British Airways has announced that One Direction, one of the world's biggest bands, is to host the ultimate high-flying dinner date on BA jet.
The fab five, Harry Styles, Liam Payne, Louis Tomlinson, Niall Horan and Zayn Malik, will take to the skies to help raise funds for Comic Relief.
The charter flight will be given the original flight number BA1D.
They will be joined on the exclusive sky-high date by eight lucky fans who will have the chance to win tickets in a competition which has been launched on social media sites including the British Airways Facebook ...
$130k Raised for Variety's Culinary Night of Nights
2012-07-04
Amongst the stand out performances, was rising star, Melanie Dyer, who had impressed Joel Madden with her encore performance during The Voice's blind auditions. Melanie was amongst celebrities, radio star Michael 'Wippa' Wipfli, past and present MasterChef contestants Alvin Quah, Audra Morrice and Kylie Millar as well as personalities, Steve Willis, 'Commando' from The Biggest Loser, Karen Ledbury, Lizzy Lovett, Glenn Wheeler, who all frocked up for a night of culinary indulgence.
The event raised an enormous $130k NET for Variety - the Children's Charity.
Guests ...
During Winter Months AAMI See Surge in Animal Collision Claims
2012-07-04
The shorter days of winter see a 40% jump in animal collisions on Australian roads compared to the summer months, according to claims data from leading national insurer, AAMI. With twilight coinciding more closely with peak hour on rural roads, and city drivers taking to the country for a winter break, animals and cars are more likely to cross paths.
"Through the winter months, daylight is shorter and we are on the roads more at the very time of day when animals, such as kangaroos, tend to be more active and invade our roadways," said Reuben Aitchison, AAMI ...
Secrets of lung cancer drug resistance revealed at UCSF
2012-07-03
People with lung cancer who are treated with the drug Tarceva face a daunting uncertainty: although their tumors may initially shrink, it's not a question of whether their cancer will return—it's a question of when. And for far too many, it happens far too soon.
Now, a team of researchers at the University of California, San Francisco's Helen Diller Family Comprehensive Cancer Center has discovered that a human protein called AXL drives resistance to Tarceva, which suggests that blocking the protein may prevent resistance to the cancer drug.
The discovery, described ...
Annals of Internal Medicine tip sheet for July 3, 2012, issue
2012-07-03
1. After First Heart Attack, Patients Likely to Return to the Hospital for Unrelated Issues
Comorbid Conditions and Treatment Complications Contribute to High Rehospitalization Rate
Each year nearly 785,000 people are hospitalized for a first heart attack. Treatment advances have contributed to improved survival rates, but rehospitalization in the first 30 days after discharge remains a common and costly problem. Researchers studied 3,010 patients in one health system who were hospitalized with a first-time heart attack between 1987 and 2010 to determine the rate of rehospitalization, ...
Are brown widows displacing black widow spiders around southern California homes?
2012-07-03
Brown widow spiders are relatively new to North America, where they were first documented in Florida in 1935, and even newer to southern California, where they were only recently discovered in 2003. However, in the last decade they have been so successful that they may be displacing native black widow spiders. If so, the overall danger to homeowners may decrease because brown widow spider bites are less toxic than those of native western black widow spiders.
In "The Prevalence of Brown Widow and Black Widow Spiders (Araneae: Theridiidae) in Urban Southern California," ...
LAST 30 PRESS RELEASES:
Linearizing tactile sensing: A soft 3D lattice sensor for accurate human-machine interactions
Nearly half of Australian adults experienced childhood trauma, increasing mental illness risk by 50 percent
HKUMed finds depression doubles mortality rates and increases suicide risk 10-fold; timely treatment can reduce risk by up to 30%
HKU researchers develop innovative vascularized tumor model to advance cancer immunotherapy
Floating solar panels show promise, but environmental impacts vary by location, study finds
Molecule that could cause COVID clotting key to new treatments
Root canal treatment reduces heart disease and diabetes risk
The gold standard: Researchers end 20-year spin debate on gold surface with definitive, full-map quantum imaging
ECMWF and European Partners win prestigious HPCwire Award for "Best Use Of AI Methods for Augmenting HPC Applications” – for AI innovation in weather and climate
Unearthing the City of Seven Ravines
Ancient sediments reveal Earth’s hidden wildfire past
Child gun injury risk spikes when children leave school for the day
Pennington Biomedical’s Dr. Leanne Redman recruited to lead the Charles Perkins Centre at the University of Sydney
Social media sentiment can predict when people move during crises, improving humanitarian response
Through the wires: Technology developed by FAMU-FSU College of Engineering faculty mitigates flaws in superconducting wires
Climate resilience found in traditional Hawaiian fishponds
Wearable lets users control machines and robots while on the move
Pioneering clean hydrogen breakthrough: Dr. Muhammad Aziz to unveil multi-scale advances in chemical looping technology
Using robotic testing to spot overlooked sensory deficits in stroke survivors
Breakthrough material advances uranium extraction from seawater, paving the way for sustainable nuclear energy
Emerging pollutants threaten efficiency of wastewater treatment: New review highlights urgent research needs
ACP encourages all adults to receive the 2025-2026 influenza vaccine
Scientists document rise in temperature-related deaths in the US
A unified model of memory and perception: how Hebbian learning explains our recall of past events
Chemical evidence of ancient life detected in 3.3 billion-year-old rocks: Carnegie Science / PNAS
Medieval communities boosted biodiversity around Lake Constance
Groundbreaking research identifies lethal dose of plastics for seabirds, sea turtles and marine mammals: “It’s much smaller than you might think”
Lethal aggression, territory, and fitness in wild chimpanzees
The woman and the goose: a 12,000-year-old glimpse into prehistoric belief
Ancient chemical clues reveal Earth’s earliest life 3.3 billion years ago
[Press-News.org] Bank of America May Reduce Mortgages For Some New Jersey ResidentsA recent settlement may reduce the mortgages of New Jersey residents who were facing foreclosure, but it also serves as a reminder for alternative resolutions for those facing foreclosure.