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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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Loan Delinquencies Fall As Banks Get Serious With Loan Modifications

by AndrewOctober 16, 2009 Loan modification

Last week’s big news in loan modifications was that HAMP, Obama’s administration’s program to get troubled (i.e. 60 days behind their payments) loans back in line with “aggressive” modifications made its first target of 50,000 trial loans before November. That is what the government hoped anyway.
The big news this week could be that foreclosures seem [...]

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U.S Loan Modifications Hit Obama’s target Early But Nobody’s Impressed

by AndrewOctober 15, 2009 Loan modification

When HAMP started functioning just a few months ago everybody said it was working too slow that it would never come close to Its ambitious goals. Last Thursday nearly a month before the deadline self imposed by the administration HAMP has enrolled 50,000 troubled home loans for trial loan modifications. Whatever your view on the [...]

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500,0000 Loan Modifications: Nobel Prize Not The Only Target Obama Hits Early

by AndrewOctober 11, 2009 Loan modification

While everybody is deciding if Obama deserves the Peace Nobel prize on effort and good intent or not, another achievement is not receiving half as much attention.  This month (October 09) more than 500,000 troubled home loans have joined a trial modification program, the Obama administration announced this Thursday.
Trial loan modifications last around 3 months [...]

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Creative Ways a Loan Modification Lowers Your Monthly Payments

by AndrewOctober 9, 2009 Loan modification

 Creative is probably not the first word that comes to mind when you think about loan modifications. There doesn’t seem to be many new ideas in the loan modification department.
The Government is definitely doing its best to reach the borrowers that need the help, especially those that reach those that can pay affordable mortgage payments. [...]

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HAMP, Way Out For Delinquent Borrowers And Those Without Fannie

by AndrewOctober 7, 2009 Loan modification

It seems Obama’s administration has a program for every issue. If you are struggling with your mortgage but are keeping up with your payments (wouldn’t that be 90% of us) you can get help with HARP. If you are delinquent (behind in your monthly mortgage payments) you can try your luck with HAMP.
HAMP stands for [...]

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TARP, Loan Modification And Other Disaster stories.

by AndrewOctober 5, 2009 Loan modification

The Credit Crisis of the last two to three years has changed the whole face of the economic landscape. The knee jerk reaction of the government didn’t take long to appear in the form of HARP, HOPE and other cute acronyms.
A program that hasn’t received half as much attention has been TARP. Maybe because the [...]

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Loan Refinance Simple Answers: Profitable Refinancing and Underwater Loans

by AndrewOctober 3, 2009 Loan modification

If you ask a question about a complicated subject like loan refinances you want a simple answer that gives you the information you need not one that creates more questions. This is the goal of this series of articles here at www.blownmortgage.com.
Loan Refinance Question 4.) How do I know if a refinance under HARP [...]

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