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Homeowners in California and in a handful of other states could be injected with some much needed help from the Obama Administration. Recently President Obama announced a $1.5B program to help stop the foreclosure bleeding in some of the hardest hit states in the nation. My initial thought when I first saw the headline for this article was…more money for the banks! On the contrary, this looks more like a bailout for the borrowers. Read more…
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Loan Modification: Can an Ebook help? Loan Modification ebooks: A waste of money? Believe it or not, Loan Modifications may still be in it's infant stage. Most banks have only just started doing loan modifications back in 2006 or 2007 and... -
Mortgage rates vs modification rates What interest rate are you qualified for? Well, that depends on whether you are trying to refinance or get a loan modification. I've spoken to many borrowers that are pursuing a loan modification because they... -
MHA Trial Plan Most banks are currently offering loan modifications in one form or another and many are participating in the Government's MHA - Making Home Affordable modification program. Also known as the Obama Plan or the HAMP... -
Obama's Program: Better or Worse? The Obama Program or The Making Homes Affordable (MHA) was introduced by Obama in March 2009. Is this program making things worse? Watch this clip. What do you think? The graph below illustrates how poorly... - Take matters into your own hands! But, how do you show the bank you need a loan modification? The secret to a loan modification is how you present the modification package to your bank. If you are considering hiring a firm to help you with a loan modification or you are planning on...
- Making Home Affordable Arrives Late to the Accident Scene The government has launched a new website - MakingHome Affordable.gov - intended to help existing homeowners find out if they are eligible for government help with their mortgage. The site title - Making Home Affordable...
- Wells Fargo Represented At Loan Modification Hearing (NYSE: WFC) The House Committee on Oversight and Government Reform held a hearing last week to discuss whether or not the processes used by lenders to implement HAMP and other loan modification programs are effective in helping...
- How To Avoid Foreclose: Humor Just read this news article from the Associated Press: Tue Feb 23, 8:17 am ET MOSCOW, Ohio â An Ohio man says he bulldozed his $350,000 home to keep a bank from foreclosing on it. Terry Hoskins says he...
- Weakening Economy Can Mean Good News for Homeowners On Tuesday the Federal Open Market Committee (FOMC) dropped the federal funds rate by 0.75% in an emergency meeting. What does this mean for mortgages? The federal funds rate does not actually directly impact fixed...
- Getting Federal Help For Your Mortgage Problems. If you are one of the millions of people having trouble with your mortgage, the government is going to try to help you out a little. They are putting about $75 billion dollars into the...
