Posts tagged as:

Mortgage Modification

Are Homeowners Really Getting Loan Modifications Approved?

August 1, 2010

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 when [...]

Read Full Article & Comment →

New York Attorney General Warns Loan Modification Companies To Cease Illegal Activity

July 5, 2010

Who’s that dude in the mask? He’s the guy you paid $2500.00 to modify your loan. Seem strange? Maybe. But that’s what thousands of borrowers have done and will continue to do out of desperation. Anthony Cuomo, New York Attorney General, is doing what he can to put a stop to bad loan modification companies [...]

Read Full Article & Comment →

Watch Video About FDIC Perks That Encourage Bank to Foreclose Instead of Modifying Mortgage – You Will Be Astounded!

June 8, 2010

We all recall when IndyMac Bank failed.  Well, if you don’t recall, trust me, the bank did fail.  Not long thereafter, OneWest Financial purchased the assets of IndyMac from the FDIC.  Apparently, the FDIC felt it important to give OneWest a near-guarantee that not only would it not fail, but would rake it extreme profits from [...]

Read Full Article & Comment →

Bank of America May Offer a Mortgage Solution for the Unemployed

June 4, 2010

Pretty soon, there may be good news for Bank of America mortgage holders who have fallen behind with home loan payments.  The bank’s pending plan is to:  (1) forgive payments for up to nine months, or (2) defer payments.  This would apply to borrowers who lost their jobs due to the recession.
According to Bank of America, if the borrower finds new [...]

Read Full Article & Comment →

Here’s a List of Resources and Contacts to Help You Modify Your New Jersey Mortgage or Save Your Home From Foreclosure

March 14, 2010

If you can no longer afford your mortgage payment and need assistance and information to help you through the process, visit some of the sites below.  Information will be most critical as you work to stay in your home and/or lower your payment.  You must stay informed.  Do not depend or rely on anything or [...]

Read Full Article & Comment →

Can I Get a New Jersey Mortgage Loan Modification if I Am Unemployed?

January 3, 2010

Late in 2008, Congress created a panel to oversee the $700 billion TARP program. The panel warned the Obama Administration that the HAMP program (provided under the TARP initiative) would not help the huge numbers of homeowners who would stand to lose their homes because of the growing unemployment problem.
The Congressional panel warned that as [...]

Read Full Article & Comment →

Having Trouble Understanding “HAMP” – Obama’s Mortgage Modification Program?

January 3, 2010

Despite all the talk about mortgage modifications over the last year, there is still considerable misunderstanding and confusion about the who, what, when and how much. If you think mortgage modification might be an option for you, learn more by watching the 2 videos below. In the drop down box at the bottom of [...]

Read Full Article & Comment →

Mortgage Loan Modifications Can Be Lethal to Credit Scores

December 31, 2009

Literally thousands of homeowners are anxiously awaiting or applying for a mortgage modification.  What many fail to realize is that these modifications can devastate one’s credit score while the modification moves through the trial period.
The trial period is the time during which the homeowner will make the modified payment that was pre-established by the lender.  It [...]

Read Full Article & Comment →

You Haven’t Seen Amazing Until You See How Bank of America Bailed Out This Guy

October 23, 2009

There often seems no rhyme or reason as to who gets a mortgage “bailout“ these days and who doesn’t.  But I read this story and someone had to help me off the floor.
It’s wonderful that this homeowner got relief, but how do you rationalize this level of help against the people that get zilch?   Hint:  The bank [...]

Read Full Article & Comment →

Bank of America is Struggling With Mortgage Loan Modifications – NOT Getting Them Done

October 14, 2009

Bank of America could collect about $6 billion if it meets the deadline set by the Federal government to help struggling borrowers for the Making Home Affordable program.
But the Treasury Department released a report last week that showed only 11 percent, about 95,000, of Bank of America’s delinquent borrowers who are potentially eligible for the [...]

Read Full Article & Comment →

Help!! I Can’t Refinance and I’m Having Trouble Getting a Loan Modification

October 6, 2009

Sound familiar?  It seems many people are having trouble getting their lender/servicer to modify their loans.  Many lenders are just not abiding by the guidelines they said they would follow after taking TARP funds under the Obama Stimulus Plan.

Read Full Article & Comment →

How to Use Obama’s Stimulus Plan to Refinance an Upside Down Mortgage

September 24, 2009

Regardless how much talk and information there is about refinance options under the Obama program, confusion about what to do and what can be done still exists – on a large scale. President Obama’s goal is to help people stay in their homes. Those who understand how to use Obama’s Stimulus Plan to refinance an [...]

Read Full Article & Comment →

← Previous Entries