Posts tagged as:

Obama Rescue Plan

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 [...]

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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More Loan Modifications Under Obama Program Might Get Approved

September 12, 2009

Recently, the Treasury Department began reporting on what percentage of eligible loans have been modified by the big banks.  The belief is that this will spur the banks to modify more loans so they won’t be seen as “doing” and “committing” less than their peers.
Overall improvement has already been seen with 12% of eligibles being [...]

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Warning Regarding Mortgage Loan Modification Activity in New Jersey

June 9, 2009

Mortgage loan modification has become very popular over the past year.  Even those who don’t own a home seem to know something about it or have heard the buzz.
Homeowners with mortgage loans try to get a modification when they find they can no longer afford the mortgage payment but cannot qualify to refinance.  Instead of [...]

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Millions of Americans Could Save Thousands Each Year by Refinancing Their Mortgages

May 13, 2009

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Who’s Eligible for a Mortgage Loan Modification Under the Obama Rescue Plan?

May 11, 2009

The Treasury Department recently released its Home Affordable Modification Program guidelines. The program is part of the Making Home Affordable initiative. The guidelines include eligibility requirements to determine which homeowners qualify for relief under the plan.

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