‘Loan Modification’ Category
Friday, November 6th, 2009
Fannie Mae is now saying it will rent homes to borrowers facing foreclosure under a new program that should help prevent foreclosures, vandalism and theft that occurs on newly vacant and foreclosed properties.
If you do not qualify for a loan modification than you can rent your home at market price, ...
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Friday, August 28th, 2009
A couple Florida mortgage modification companies are being investigated for their ties to law firms. Consumer advocates claim partnerships between loan modification firms and lawyers might be designed to avoid rules that state you can't accept upfront money for mortgage services.
The First Legal Group, which also operated as Nationwide Home ...
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Friday, August 28th, 2009
Home foreclosure rates keep on climbing, ensuring that the market is ill with bank owned properties. Average Americans are now driving up foreclosure numbers, not the irresponsible few like the sub-prime folk who have been blamed repeatedly. Now it's people with solid credit who are making things worse, which is ...
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Monday, August 10th, 2009
I've now spoken with a few 'insiders' that have expressed frustration about the loan modification process. The time it takes to process along with the frustrated borrowers issuing complaints in record amounts has lead to a stoppage in practice by money lawyers and agents alike.
This tell me a few things. ...
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Tuesday, August 4th, 2009
Florida Loan Modification companies is under attack by Florida's Attorney General for allegedly collecting nearly one million dollars in illegal upfron fees for faulty loan modification services by desperate homeowners. Good work guys (sarcasm font on)!
Jason Vitulano is the owner of the four companies that solicited hundreds of distressed homeowners ...
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Tuesday, August 4th, 2009
According to a recent Treasury Department report, Bank of America and wells Fargo were the worst performers among the biggest U.S. banks in modifying loans for homeowners facing foreclosure. 4 percent of Bank of America's loans were eligible for mortgage modifications, or nearly 30 thousand loans in all. Compare that ...
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Sunday, July 19th, 2009
It turns out that our military veterans are vulnerable homeowners, too, and are turning to loan modifications. Well, join the party. Many veterans don't qualify for VA refinancing and loan modification options may be the best alternative for affordable home financing.
If you are a vet paying the mortgage on time ...
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Monday, July 6th, 2009
The Huffington Post has an interesting article on the some of the problems of Obama's Homeowners bail out plan that incorporates Loan modifications .
The biggest issues had to do with the difficulty it is to navigate through the loan modification process. Lost paperwork and miscommunications are among the complaints. The ...
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Saturday, July 4th, 2009
Loan Modification has increased in the first quarter, according to a government report, but borrowers are still falling behind on mortage payments.
Comptroller of the Currency and the Office of Thrift Supervision released the report finding that loan modifications jumped 55% from the previous quarter and 172% from a year ago.
Borrowers ...
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Wednesday, June 17th, 2009
Check out the diagram below as highlighted by the Huffington Post. It is a list of the strongest and weakest areas in terms of being affected by the recession. The study was down by the Brookings Institution. They looked at employment, unemployment, rates, wages, gross metropolitan product, housing prices and ...
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