Finance

Mortgages and remortgages have declined since the beginning of 2007 when the credit crisis first raised its ugly head.

In order to prevent foreclosures, homeowners throughout California are attempting the loan modification process. The state of California deals with approximately 80,000 to 90,000 foreclosure filings per month. Recently, a new law passed stating that a lender is required to offer the homeowner a comprehensive loan modification program or give a 90 day notices before initiating the foreclosure process.