These days you have to know your options. If your buying a home you have to know your options. If your selling your home, you need to know your options. If you are trying to loan mod or short sale, well you know the answer. Know your options! Luckily Fannie Mae has created a web [...]
Archive | LOAN MODIFICATION
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WARNING | Keep Away From Loan Modification Services
Many Loan Modification Businesses are Scams Another loan modification outfit was busted and closed down. Prosecutors from Ventura County have filed a felony complaint against four people alleging they ran a fraudulent home foreclosure rescue program from an Oxnard office called, “USA Home Recovery Service.” They solicited business from radio ads targeting Spanish speaking homeowners. [...]
Loan Modifications Continue. Is La Habra Affected
Loan Modifications Surpass One Million Mark for 2010 09/01/2010 By: Carrie Bay The industry has completed 1.13 million permanent loan modifications for at-risk homeowners so far in 2010, according to data released Wednesday by HOPE NOW, the private sector alliance of mortgage servicers, investors, mortgage insurers, and non-profit housing counselors. For the month of July [...]
Foreclosure On Hold Until Loan Modification
Yorba Linda La Habra Fullerton Brea Hacienda Heights Rowland Heights Diamond Bar La Puente Foreclosures and Loan Modification Programs The state Senate passed a bill that bars lenders from starting foreclosure proceedings against borrowers until after they’re found to be ineligible for a modification. We urge the Assembly to move the bill forward. Despite the [...]
Loan Modification Can Hurt More Than Help
Yorba Linda La Habra Fullerton Brea Placentia Hacienda Heights Rowland Heights Diamond Bar Loan Modification Highlights * Loan modifications stave off foreclosure, but damage credit. * Modification causes credit score damage that lasts for long time. * On-time payments can help reverse credit score damage. Mortgage loan modification and credit scores By Marilyn Bowden • [...]
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Denied a Loan Modification? It May Be a Good Thing
Despite the fact that loan modifications should make sense for all involved, the truth is that most loan modifications available today are even worse than the mortgages they’re replacing. Despite the recent headlines about new loan modification programs featuring principal balance reductions, a simple look under the covers reveals these new programs still fail to [...]
Loan Modification Denied-Now What?
Loan Modification Denied—Now What? New Short Sale Guidelines Under HAFA (Home Affordable Foreclosure Alternatives) Program Because so many million homeowners across the United States are struggling to make their mortgage payments and facing foreclosure, the US Treasury Department under Making Home Affordable implemented the Home Affordable Foreclosure Alternatives Program (HAFA). Effective April 5, 2010, HAFA [...]
Loans Going Bad Faster
Loans Going Bad Faster Than the Fixes Published: Monday, 15 Mar 2010 | 3:44 PM ET By: Diana Olick CNBC Real Estate Reporter The good news is the pace of loan deterioration is slowing. The bad news is we are still seeing record high delinquencies, and new delinquencies are outpacing loss mitigation efforts. Lender Processing [...]
Lost to Foreclosure – On Location
We visit a Foreclosed Property that was lost due to bad Loan Modification decisions. The homeowner waited to take action and followup. Don’t make the same mistake.
Homeowners with Underwater Mortgages
Homeowners with “underwater” mortgages are more prone to defaults and foreclosures. They typically do not qualify for refinancing and are unable to sell their homes because they would need to cough up cash at closing time to pay off their mortgage. The video explains more. Click to view. Mortgages Underwater Here is the article in [...]
New Home Loan Modification Rules Coming Soon
New Home Loan Modification Rules Coming * All servicers will be required to get financial documentation first. * Only 13 percent of trial modifications have become permanent. * Servicers that got accurate financial information had higher conversion rate. If you want to get a modification to prevent foreclosure, soon you will have to supply financial [...]
Effort to save Homes in Foreclosure is Having Little impact
Some of you have realized his by talking with your bank or heard others around you tell you their horror stories. The Foreclosure Relief Programs either set up by the government or voluntarily by banks has had little affect to help those in need. This article highlights and shares some of the frustration homeowners are [...]
