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Loan Modifications, 5 Things the Government Is Not Doing But Should

by AndrewNovember 4, 2009 Loan modification

Mortgage foreclosures are increasing steadily as home values plummet and layoffs are becoming ever more common while homeowners crumble under the weight of mortgages they can no longer afford.
The administration is working hard to increase the number of loan modifications to help out struggling homeowners. However higher unemployment rates are making it hard for homeowners [...]

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Loan Modifications, Servicers and Who Is Profiting From the Credit Crisis

by AndrewNovember 4, 2009 Loan modification

The news is full of loan modification horror stories describing how homeowners have struggled for months with lost documents, changing standards, unreasonable loan modification agents and the slow tides of bureaucracy. Bad news does always seem to travel faster and further so you don’t hear half as much about the hundreds of thousands of loans [...]

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Disappointed Homeowners Torture Loan Modification Agents

by AndrewOctober 31, 2009 Loan modification

Loan Modifications have become loaded words politically and economically and as things get worse they get much more personal. Nationwide efforts have been made to educate homeowners in their search for the right loan modification for their home before they fall into foreclosure. Unfortunately only a small percentage 16% to around 25% of eligible homeowners [...]

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Loan Modification Fantasy League, How Bad Did Your Bank Do

by AndrewOctober 29, 2009 Loan modification

As part of the Obama’s administration Making Home Affordable Program (HAMP) name and shame (or praise) initiative, every month a list of banks and mortgage providers is issued. The good banks are praised the bad ones are marked. The idea is to provide an extra incentive for providers to speed up their loan modification procedures.
September’s [...]

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Obamas Loan Modification Success Explained

by AndrewOctober 27, 2009 Loan modification

Last Thursday the big news was Obama’s Loan Modification program, Making Home Affordable. The first target the program set out for itself, reaching 500,000 trial loan modifications by November was reached nearly a month early.
Critics stated that the target was of little importance in the big picture of things with foreclosures continuing to affect more [...]

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Loan Modifications For Borrowers With Two Homes What Are The Options

by AndrewOctober 25, 2009 Loan modification

Loan Modifications are a very emotionally charged issue. If you are a homeowner in trouble and want information on your chances of getting a much needed loan modification it can be a nightmare to get the right information for your specific situation. You have probable heard about the many scam artists ready to take advantage [...]

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Loan Modifications And Balloon Payments What Is The Cost

by AndrewOctober 23, 2009 Loan modification

Reading the news for the last two weeks you would either think the government has the credit crisis in control after hitting its 500,000 trial loan modifications or that there is no hope after seeing the rise in prime mortgage foreclosures and the rise in unemployment.
The truth is that nobody really knows what is going [...]

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Loan Modifications, Story Of Struggle For Banks And Borrowers Alike

by AndrewOctober 21, 2009 Loan modification

If you have been watching the business or economy sections of newspapers, news or blogs you will have got your fair share of loan modification horror stories. At the same time banks are increasing their capacity for loan modifications and seem to be keeping up with government targets, at least for now. So who is [...]

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Loan Modifications: Why Is Citigroup Optimistic About Future Loan Delinquencies

by AndrewOctober 19, 2009 Loan modification

Loan modifications seem like a pretty simple concept. You can’t pay your mortgage so the government “encourages” your mortgage provider to give you a break. The break can come in the form of lower interest rates, a longer tenure, deferring a part of your loan or even “forgiving” a chunk of your loan (that doesn’t [...]

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