The childhood home of Cedar Rapids mayoral challenger Greg Hughes was recently lost to foreclosure, according to a news report on October 29.

In the Gazette’s published notice of sale, mayoral candidate Greg Hughes had a debt worth $114,135 on his two-story home located at 1202 36^th Street SE with an estimated value of $132,082. The foreclosed home of the 56-year-old mayoral candidate will be sold in an auction this coming December 10.

Hughes is reportedly suffering from financial problems after two divorces. He also sought personal bankruptcy protection in a court in Northern District of Iowa in October last year. The lone mayoral candidate said he will opt to rent an apartment in December.

It is an unfortunate when your home is being threatened by foreclosure. However, with the help of a Cedar Rapids lawyer from Hong Law, PLC, you might be able to keep your home and work on paying off your debts. Call us at (319) 294-5853 to discuss your options.

The Los Angeles mansion of a former porn star was recently lost to foreclosure after she failed to pay her mortgage, according to a report released on October 20.

Porn star Jenna Jameson was notified of her delinquent status last February for owing $57,000 on her mortgage for the 3,958 square-foot, three bedroom mansion in Hollywood Hills.

The 39-year-old adult film actress put the mansion up for sale for $1.9 million, but it didn’t sell.  Jenna rented out the mansion, and failed to maintain it after moving in with Ultimate Fighting Champion Tito Ortiz in 2008. The mansion was recently auctioned off for $1.8 million.

Jameson originally purchased the home for $2.7 million in 2006.

Losing a home to foreclosure can be frightening and overwhelming. However, there are legal options available to prevent it. If you are facing bankruptcy or foreclosure in Cedar Rapids, Hong Law, PLC, may be able to help you. Call (319) 294-5853 to discuss your options with a knowledgeable attorney today.

A large part of the mortgage settlement fund received by the states in a legal settlement with large mortgage lenders are being used to patch up other state-related concerns, according to a USA Today report published on Tuesday, October 8.

According to reports, almost half of the $2.5 billion mortgage settlement fund that is supposed to help homeowners against inappropriate mortgage procedures in foreclosures is being used for other purposes. In the list of the National Conference of State Legislatures, some of the budgets were allocated to general funds, economic development, and other non-housing related projects.

Enterprise Community Partners staffer Andrew Jakabovics said that probably only about $1.4 billion is being spent to help troubled homeowners.

Unfortunately, at Hong Law, PLC, we know that many homeowners in Cedar Rapids are being threatened by foreclosure. However, for those in this situation, there are likely certain options available that may help you keep your home. Call a lawyer at (319) 632-1400 to find out how we might be able to help you.

The $1.3 million home of Lindsay Lohan’s mom is being threatened by foreclosure after she has failed to pay mortgage and other bills, a report on the 20^th of September stated.

The foreclosure news surfaced after Dina Lohan was recently arrested for drunk driving and speeding in Northern State Parkway. According to reports, Lohan did not pay the mortgage and other bills on their family home in Mineola, New York. Last fall, Lindsay lent $40,000 to her mom to prevent the house from being foreclosed.

Dina has been struggling to save the house from foreclosure since 2005. The Lohan’s house might go on auction if they fail to settle their mortgage.

Our lawyers at Hong Law, PLC, work for homeowners in Cedar Rapids to defend their home from being foreclosed upon. If you or a loved one’s home is being threatened by foreclosure, there may be legal options available to help you protect your home. Discuss your situation today with us by calling (319) 632-1400.        

Former New York Knicks point guard Stephon Marbury may lose his condo in NYC to foreclosure due to unpaid debts from three years ago, according to a report on Wednesday, September 18.

In the documents filed by U.S. Bank International, Marbury has an unsettled debt of $844,035 on his condo since March 2010. The bank is now seeking to repossess Marbury’s two-bedroom and two-bath condo that he bought for more than $1 million in 2006. Marbury was given an option by the bank to either gain back his property or to have it sold in an auction. Stephon also lost a property in L.A. to foreclosure last year.

The prospect of losing a home in a foreclosure can be frightening and stressful. Fortunately, if you are facing this financial penalty in Cedar Rapids, the legal team at Hong Law, PLC, can help you. Learn about your options for foreclosure defense by calling (319) 294-5853.

The South Florida home of ex-NFL star O.J. Simpson will be sold after bank foreclosure proceedings, a report stated on Tuesday, August 27.

According to court documents, the former football star owes principal and interests that cost more than $796,000, and unpaid taxes that reached about $42,000. A judge from Miami-Dade Circuit Court issued a final decision for JPMorgan Chase Bank to auction Simpson’s house near Miami in October.

The legal team of Hong Law, PLC, works to defend people in Cedar Rapids whose homes were threatened by foreclosure. To learn more of your legal actions, speak with a lawyer by calling (319) 294-5853.

Loan-origination rates and other fees for closing mortgages were observed to increase, according to a report published by USA Today on Monday, August 5.

According to the survey conducted by Bankrate.com last June, origination fees increased by 8 percent, while other fees were observed to increase by 1 percent. In explanation, publisher Guy Cecala said origination fees increased because interest rates are higher and lenders are looking to continue making a profit. On the other hand, Lending Tree CEO Doug Lebda said the increase in costs were due to more paper work being done by lenders.

Unfortunately, there may come a point when your mortgage becomes too much for you to pay. Learn about foreclosure defense options available to you in Cedar Rapids by speaking with the legal team from Hong Law, PLC, at (319) 294-5853. We can help you explore your options for escaping unmanageable debts.

Some 400,000 checks sent for a foreclosure settlement have gone missing after being sent to the wrong addresses, a report by the Huffington Post stated on July 24.

The Office of the Comptroller of the Currency said the 400,000 checks, a total of 10 percent that were already mailed, could not be delivered because they were sent to the wrong addresses. Office of the Comptroller spokesman Bryan Hubbard said efforts to reach the proper check recipients are ongoing.

A statement from Rust Consulting said the addresses to which the checks were wrongfully sent were either old or incomplete, and it is common for this kind of settlement.

Sadly, many people have to foreclose on their home due to mounting financial burdens. However, if you are considering this option for your home in Cedar Rapids, the legal team at Hong Law, PLC, might be able to help you defend your home from being foreclosed. Find out what your options may be by calling (319) 632-1400.

Homeowners in the U.S. who have entered the foreclosure process or had their homes repossessed by banks decreased last month, according to RealtyTrac, a foreclosure listing firm.

The company stated on July 11 that the number of homeowners who have entered foreclosure this year is only estimated to be 800,000, compared to 1.1 million from last year. Additionally, this past June, the foreclosure process was initiated by lenders on 57,286 homeowners, which according to the foreclosure listing firm, was the lowest in the last 7.5 years. Steady jobs, low interest rates, improved consumer confidence, and increased housing demand are all believed to have contributed to the recovery of housing in the U.S.

Strict standards for home loan lending also play a part in reducing the foreclosure pace.

Despite this decrease in foreclosures and repossessions, our lawyers at Hong Law, PLC, understand that some homeowners in Cedar Rapids are still struggling to save their homes. If you’re in this situation, call (319) 632-1400 to learn more about how we can help you.

Eligible Iowa homeowners who filed valid foreclosure claims will receive payment checks, the attorney general’s office said on June 4.

Payments worth $1,480 will be mailed to 6,051 eligible homeowners whose mortgages were serviced by one of the five National Mortgage Settlement participant servicers. The five banks are Bank of America, Citi, JP Morgan & Chase, Wells Fargo, and Ally. Eligible homeowners submitted a valid claim and had their home foreclosed between January 2008 and December 2011.

The foreclosure checks are part of the $1.5 billion that was negotiated in the national settlement.

Facing the loss of your home is frightening and stressful. Our lawyers at Hong Law, PLC, understand this and, as such, work to help homeowners in Cedar Rapids take action to potentially prevent this action. Call (319) 632-1400 today to discuss your financial situation with us..