(Source: Fox News) – Let’s assume you live in one of the geographical areas hardest hit by the home mortgage crisis. The economic boom that your lender assured you would continue to boost the value of your home has turned [...] Loan Calculator
(Source: The Bryan Ellis Real Estate Letter by Carole VanSickle) – In a move that local government officials throughout Michigan are describing in terms of being “disgusting…[but] not news,” Fannie Mae has released papers and internal memos indicating that the [...] Loan Calculator
WASHINGTON, Jul 26, 2011 (Source: MarketWatch) — Ocwen Financial Corporation OCN -0.61% , servicer of residential mortgages, has initiated a loan modification program designed to help distressed homeowners who owe more than their houses are worth and, at the same [...] Loan Calculator
(Source: The Arizona Republic by J. Craig Anderson) – It’s entirely possible for struggling commercial-property owners to obtain a loan modification, according to Kevin Kopp of 1st Service Solutions, a commercial-foreclosure-prevention firm. The problem is that most commercial-mortgage borrowers don’t [...] Loan Calculator
(Source: ABC News By LINH TRAN) – Being rewarded for doing the right thing is nothing unusual but hard to believe when big banks are the ones doing the rewarding.Chase and Bank of America are starting to reduce what their [...] Loan Calculator
(Source: Boston Globe By Jenifer B. McKim) – Bank of America Corp. lost a bid yesterday to dismiss a series of legal challenges filed by financially troubled homeowners in 19 states after a US District Court judge in Boston ruled [...] Loan Calculator
The Treasury Dept.’s latest data on the Home Affordable Modification Program (HAMP) now includes data on those modifications with principal reductions. Known as Principal Reduction Alternative (PRA), mortgage servicers have cut the principal on nearl
Related posts: Fannie Mae/Freddie Mac loan modifications increase in 2nd Quarter [...]
LOS ANGELES (Source: Oregon Live By the Associated Press) — It seemed Maria Campusano’s financial problems were behind her when the mortgage on her Victorian home in a Massachusetts mill town was chopped by hundreds of dollars a month.She soon [...] Loan Calculator
Question by ErangaD: Loan Modifications / How many times can they modify? How many times can a lender modify your loan due to hardship I know they don’t want the property back I am not that behind just one month I am trying to get my realestate taxes escrowed in to the payment. Is [...]
Question by Newbie: Loan Modifications vs Refinancing? I was laid-off last October and have been living off unemployment. I have been unable to find a job and unemployment runs out in a month. I called my bank to see about a loan modification (new rule under Obama) to get lower payments and hopefully be [...]
