Bookmark and Share

Underwater Mortgages and the Science of the Perfect Loan Modification

by AndrewMarch 4, 2010 Loan modification

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Loan Modifications have taken over the financial news in the last year. This is not at all surprising, with over 11.3 million people, nearly 25 per cent of all homes, with underwater mortgages; this is an issue that has [...]

Comments Read the full article →

The Obama Loan Modification Plan, An Overview

by AndrewMarch 2, 2010 Loan modification

This Thursday the Obama Loan Modification Plan, HAMP, will be a year old. It was on the 4th of March, 2009 that the Obama administration started the largest and most ambitious homeowner’s aid package since the 1930s. The goal was to stop the wave of foreclosures that was destroying the housing market. The Government’s reply [...]

Comments Read the full article →

Loan Modifications, Alternative Solutions to the Foreclosure Problem

by AndrewFebruary 27, 2010 Loan modification

Recent projections estimate that by June, over 5 million homeowners will be heavily underwater. Let us define that a little more precisely. You are heavily underwater if the current market value of your home is only 75% of the balance on your mortgage. Between you and me, this means you are pretty screwed. The scary [...]

Comments Read the full article →

Loan Modifications and the Jingle Mail Revolution

by AndrewFebruary 26, 2010 Loan modification

Few subjects have created as much debate as the issue of walking away from of your home when there does not seem to be any financial sense in staying. Walking away from your home when it is worth less than the balance on your mortgage seems like the sensible thing to do for many. Research [...]

Comments Read the full article →

Loan Modification, New Guidelines For California

by AndrewFebruary 25, 2010 Loan modification

There is a proposal for new guidelines in the way lenders and servicers deal with borrowers throughout the foreclosure process. These new guidelines are designed to improve communication between lenders and borrowers to improve the rate of troubled borrowers receive a loan modification for their mortgage.
One of the issues that leave many homeowners without a [...]

Comments Read the full article →

Loan Modifications, What Is The Situation 3 Years After The Housing Bubble Burst

by AndrewFebruary 24, 2010 Loan modification

It is hard to believe that three years have gone by since the housing market took a dive drowning with it millions of American homeowners. So what is the situation now? Have we hit rock bottom? Are the Administration’s measures starting to work?
Let us start with the good news. There are now over one million [...]

Comments Read the full article →

Loan Modifications, How to Avoid Collateral Expenses

by AndrewFebruary 23, 2010 Loan modification

Unfortunately nothing is free in this world; even dying costs around $5,000 dollars, for an average funeral in the US.  Applying for loan modifications can be pricey also. Sadly the procedure that could save you from foreclosing on your home and even bankruptcy is also rather expensive, which scares many homeowners off, pushing them further [...]

Comments Read the full article →

Short Sales as Loan Modification Alternatives, Can They Work

by AndrewFebruary 22, 2010 Loan modification

If loan modifications are not an option and you want to avoid foreclosure or bankruptcy a short sale of your home might be a good option. The key when you are undergoing a bad financial situation is like with every emergency and try to think clearly without letting raw emotions take over. You must analyze [...]

Comments Read the full article →

Deed In Lieu of Foreclosure, The Last Resort Loan Modification

by AndrewFebruary 19, 2010 Loan modification

If you do not qualify for a loan modification, and foreclosure seems unavoidable, there are steps you can take to make the most of a bad situation. One of these options is arranging with your lender for a Deed in Lieu of Foreclosure.
What does this mean?
It means you hand over the deed, or ownership, of [...]

Comments Read the full article →

← Previous Entries

Next Entries →