Posted February 24th, 2009 by admin
Each new term we add to the lexicon of financial disaster is a scary next step into the unknown. Last fall, there was the bank bailout, then the Detroit bailout. Next came the stimulus plan and last week moved from federal loan modification plans to more negative foreclosure news and now the great mortgage bailout. [...]
Tags: FDIC, loan modification, mortgage lending, mortgage loans, mortgage relief
Posted February 9th, 2009 by admin
Ronald D. Roup, Esq. Legislative Chairperson UNITED TRUSTEES ASSOCIATION
Q1. — When does this bill take effect and become law?
A1.- SB 1137 passed the California Senate and Assembly as urgency legislation to take effect upon execution by Governor Schwarzenegger in an effort to help California homeowners prevent foreclosure with a loan modification.. The Governor signed the [...]
Posted February 9th, 2009 by admin
Nearly 2.4 million homeowners nationwide have lost their homes to foreclosure since the housing market went bust a little more than two years ago and it’s nowhere near over, says real estate analyst Jack McCabe, CEO of Deerfield Beach-based McCabe Research & Consulting. “Based upon what the federal government does or doesn’t do to help [...]
Posted February 3rd, 2009 by admin
Loan modification agreements have been “re-defaulting” at an alarming rate.
According to the federal Office of the Comptroller of the Currency, 58% of mortgage loan modifications done in the first quarter of this year have re-defaulted, and fell delinquent within the first eight months of the year. Diana Olick, CNBC’s real estate correspondent, believes the government [...]
Tags: foreclosure crisis, mortgage loan modifications
Posted February 3rd, 2009 by admin
As the foreclosure crisis continues to detriment many Americans, even more could now lose their homes due to a phony rescue loan company. Bill Whitaker reports on this mortgage relief scam from Woodland Hills, California. California led the nation in home foreclosures last month and mortgage fraud specialists seem to be setting up shop all [...]
Tags: foreclosure scams, loan modifications, mortgage relief
Posted February 3rd, 2009 by admin
The current state of the economy has paved the way for mortgage companies and banks to provide loan modifications to mortgagors. Instead of going through expensive foreclosure court proceedings, lenders present another option to help borrowers keep their homes and make the necessary payments at the same time. The mortgage process of loan modification features an overhauling [...]
Tags: Loan Modification Hardship Letters
