August 2010

Were You Mortgage Scammed By “Esteemed Lending Services”?

According to the Federal Trade Commission, there has been a rapid increase in the number of scam mortgage sites.  For a long time, the biggest scam sites running were for loan modification services.   You’ve seen them everywhere.  People set up fraudulent sites claiming they can get your mortgage modified to a ridiculously low payment and they [...]

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FHA Mortgage Insurance Premiums Changing Once Again Effective September 7, 2010 – Your Payment Will Increase

Will they ever get it right? David Stevens, Federal Housing Commissioner, has issued a “Special Edition” press release confirming that both upfront and monthly required FHA mortgage insurance will be modified on all FHA case numbers issued on or after September 7, 2010.  The changes will have a huge impact on any FHA borrower who needs to [...]

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Are Homeowners Really Getting Loan Modifications Approved?

Short answer:   Not many.  On Monday, June 21, 2010, the Department of Housing and Urban Development (HUD) released a monthly report that revealed more loan modifications are canceled than approved.  This comes as no surprise to anyone who’s staying on top of the HAMP program.  And falls far short of the expectations of Obama and the Treasury [...]

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