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Understanding Your Mortgage
Written By William Paige, Foreclosure Specialist at The Waterfront Project Have you ever looked at your mortgage statement and wondered, “Why did my monthly payment increase?” First let’s break down what a mortgage is made of. Your total monthly mortgage payment is commonly referred to as PITI: Principal: Pays down your loan balance. Interest: The
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From Housing Crisis to Homelessness: Why More New Jersey Residents Are Being Left Behind
Written By WFP Intern, River Pilar The homelessness crisis in New Jersey has festered in the background for years. With the rise in housing prices and a lack of wage raises, more people are being forced out of their homes and onto the cold streets of New Jersey with very few options to rejoin society
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Honoring The History of Women and Mortgages
by Patricia Ellams, Foreclosure Specialist in Mortgage Default at The Waterfront Project Women have long fought for equality in all areas of life, including homeownership. During Women’s History Month this March, which began in 1987, we celebrate their resilience and progress in securing financial independence. From overcoming legal barriers to leading in real estate today,
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Black History Month and homeownership
Written by Maria Mascola, HUD Certified Foreclosure Specialist at The Waterfront Project During Black History Month, we honor and celebrate the many generations of Black Americans who have helped shaped our nation and we reflect on the triumphs and challenges they have faced through U.S. history. The work still needs to be done in securing a more equitable future
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Foreclosure Prevention Success Story
Written by Patricia Ellams, HUD Certified Foreclosure Specialist at The Waterfront Project A homeowner suddenly lost her husband, leaving her a widowed mother of three children and the primary caregiver for her 94-year-old veteran father. Her late husband had been the sole borrower on the mortgage and the only individual listed on the deed. Although
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Before You Buy: Understanding Homeowners Association (HOA) Fees
Written By William Paige, Certified Foreclosure Specialist at The Waterfront Project Before purchasing a home with Homeowners Association (HOA) dues, it is critical to understand both the benefits and the potential financial risks. HOAs are common in condominiums, co-ops, townhouses, and planned communities, and membership is mandatory when you buy a property governed by an
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WFP Foreclosure Team Addresses the Government Shutdown & Provides Resources
Written By the WFP Foreclosure Team A government shutdown may start in Congress, but its real impact is felt at the closing table—and in the lives of everyday Americans. Homebuyers face stalled loans and canceled closings, while current homeowners deal with delayed services and added uncertainty. Although programs like Fannie Mae and Freddie Mac continue
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Addressing Recent Housing News: HUD Layoffs Threaten Housing Rights & Protections—We Must Resist
Article sources: HUD To Lay Off Hundreds As Government Shutdown Drags On OMB says ‘substantial’ federal employee layoffs have begun Federal Government Shutdown and Mass Layoffs Risks Crippling HUD in the Long Term | National Low Income Housing Coalition Over the past week, alarming news emerged: the Department of Housing and Urban Development (HUD) has
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The Barriers to Home Ownership for Millennials and What The Waterfront Project Can Do
By Maria Mascola, HUD Certified Foreclosure Specialist The Waterfront Project is a free clinic helping in both Pre-Purchase and Post-Purchase Counseling. We understand the current difficulties due to the economy, rising housing costs, and interest rates that are affecting so many people’s ability to cross over from renting to homeownership. Working together, we can assist
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What is a “Zombie” Second Mortgage?
By Patricia Ellams, Foreclosure Specialist at The Waterfront Project Zombie Mortgage Loan foreclosures are on the rise in New Jersey. If you’ve recently discovered along-forgotten second mortgage or Home Equity Line of Credit coming back to haunt you, it’simportant to understand your rights. Can I Lose My Home to a Zombie Mortgage? Yes, it’s possible
