In a fine piece, "WHAT I NOW KNOW ABOUT THE FORECLOSURE CRISIS AND LOAN MODIFICATIONS", Martin Andelman explains FIVE FACTS about private loan modification companies and why they play an essential role in the successful completion of a load mod.
Here is perhaps the most outstanding point: "If there is any lesson to be learned out there in the new wild west of loan modifications, it’s that homeowners should hire an experienced lawyer."
A lawyer may not settle for a first offer, her experience and expertise (and skill) will influence the outcome. There are lots of modifications that are accepted by the homeowner that are actually at a higher interest rate and payment than the existing loan because they are allowed to stay in the house a while longer.
Going into a home loan modification without good representation could cost you dearly.
"It has become obvious that both state and federal agencies have no idea what they’re doing when it comes to solving the foreclosure crisis.", writes Andelman.
Tuesday, August 25, 2009
Wednesday, March 25, 2009
Mortgage Relief Program
| FTC: US Court Halts Sham Mortgage Loan Modification Operations The complaints and restraining orders name Hope Now Modifications LLC, related entities and principals Nick Puglia and Salvatore Puglia as well as New Hope ... |
| Making Home Affordable offers mortgage relief If you're confused by the new $75 billion mortgage loan modification program Congress just passed and that was signed by President Obama, ... |
Miami Loan Modification Company Targeted Hispanic Residents |
| Do loan mod companies help or hurt? I'd like to hear from anyone who has hired a private company for help getting a loan modification ... |
| Congresswoman Doris Matsui Advocates for Increased Consumer ... "Now many of these homeowners are seeking assistance in modifying their loans to more affordable loan terms. However, that has been a serious issue for many ... |
Choosing Loan Modification Companies
| Loan Modification - What you can and should do! | Eugene Loan Guy I have written before about the loan modification business and I think it will probably be quite big for the next several months, just from what I have seen so far from the housing plan. The Federal Reserve is telling people that loan modifications ... I think everyone in this situation should attempt to get the help they need using the free services first. Remember, there are requirements to make the program work: To apply for a Home Affordable Modification, you must: ... Eugene Loan Guy - http://eugeneloanguy.com/ |
| Public Private Investment Program | Bad Bank | New Homes Section Blog Also in February, Timothy Geithner briefly announced the Financial Stability Plan, of which one portion of the plan, the loan modification program, has already increased mortgage refinancing by 30%. The remaining portion of the ... New Homes Section Blog - http://www.newhomessection.com/blog/ |
| DSNews.Com Default Servicing In Print and Online - Formerly REO ... In addition to the new Public-Private Investment Program, these efforts include the Making Home Affordable refinancing and loan modification program, the launch of TALF to jumpstart secondary markets and support consumer and business ... http://www.dsnews.com/ |
| Help with Countrywide Modification - Loan Modification We have been told by Countrywide before than we do not qualify for any of their programs b/c due to decrease in pay we are about $600 dollars negative every month and they want to see more income to modify our loan. ... Loan Modification Forum - Loan Safe - http://www.loansafe.org/forum/ |
Freddie Mac Cuts Down Government Foreclosures |
| President Obama's Loan Modification Program « Our Journey… President Obama's Loan Modification Program. Posted on March 24, 2009 by Norton Cindy. President Obama has released the information regarding the new Mortgage Modification Program. This will help people who have lost their jobs and/or ... http://journeytocanebay.wordpress.com/ |
| IBM ships loan modification software (Finextra) IBM (NYSE:IBM) today announced a new offering that enables mortgage loan servicers to process large volumes of loan modification requests with ...Source:IBM. http://blog.yourfinancialissues.com/ |
Monday, March 23, 2009
Loan Modification Centers Opening
More Making Home Affordable Bologne...
| Ask The Experts: Help with a Loan Modification I've contacted my mortgage company to see if they will assist me in a loan modification but most of all the credit card balance keeps going up and up. ... |
| FBI Sees Rise In Loan Modification Fraud Not all companies that offer loan modification programs are scamming customers; however, a homeowner will either qualify or not qualify for a modification. ... |
| Government Launches Site designed to Help Mortgage Troubles Making Home Affordable is designed as an informative site with resources for qualifying for a loan modification, understanding your mortgage statements, ... |
Chase opening loan modification center
Stockton Record - Stockton,CA,USA
By Bruce Spence STOCKTON - JPMorgan Chase, which merged last fall with Washington Mutual, is gearing up to launch a loan modification center in downtown ...
Treasury Programs Announced Purchase of Toxic Assets
The Making Home Affordable program is targeted toward some irresponsible home owners who need financial help
Tags: Toxic Assets
| Federal Loan Modification Program Eligible borrowers will have to provide their most recent tax return and two pay stubs as well as an "affidavit of financial hardship" to qualify for the loan modification program. In the affidavit, applicants will have to cite the ... http://www.playavistablog.com/ |
| Are You Eligible For The Government's "Making Home Affordable ... The Federal government's "Making Home Affordable" program is targeted toward this home owners who need financial help. This set of solution is in the form of loan modifications and refinance. There is a new "Making Home Affordable" ... http://blog.bryanbomba.com/ |
| Loan Modification Forms for the Obama program | Loan Modification ... Well, you can get all of those benefits when you apply and qualify for the loan modification plan. This new program has made it easier than ever to prepare your own loan workout proposal and work directly with your lender. ... http://myloanmodificationcenter.com/blog/ |
| FDIC Spearheads New Home Loan Modification Programs Sheila Bair is the rather outspoken head of the Federal Deposit Insurance Corporation (FDIC), and for several months she has pressured banks and mortgage. Your Card Wisdom - http://creditduo.com/ |
Loan modification resources
My colleague John Mlnarik has begun a discussion of the Obama Treasury programs announced earlier in March on toxic assets. Now, we need the Senate to move on S. 61 and judicial mortgage modification. ... http://www.moranlaw.net/blog/
| Mortgage Loan Modification Help for Save You Home Modification of a mortgage is a permanent change in one or more of the conditions of your mortgage with your mortgage May be reused. (...) http://surebroker.net/ |
Friday, March 20, 2009
Mortgage Modification Model
Get guidance on mortgage troubles.
Tags: Mortgage Modification
Got an ARM? Now might be the time to refinance It's a new government Web site tells you if you qualify for special refinancing or a loan modification under the new program and helps you navigate the ... |
| Quantrix Develops Mortgage Modification Model to Help Lenders ... Using techniques from the "Mod in a Box" loan modification model created by the FDIC in conjunction with user-provided and current-market data, ... |
| IndyMac Bank's new name: OneWest Bank The management team has been working with the FDIC on a loan modification program to attempt to keep people in their homes. |
| US Site Offers Guidance on Mortgage Troubles The site, MakingHomeAffordable.gov, provides homeowners with a general idea of whether they'll qualify for a loan modification or refinancing by answering ... |
Examining the Making Home Affordable Program |
| TNLMA™ Announces Launch of Certification Program for Loan ... TNLMA.org) announced the launch today of a certification program to set standardized policies, procedures and a code of ethics for loan modification and ... |
| US Housing Officials Praise Obama Housing Plan FHFA will create a special team of trained examiners to monitor the program, analyze any data and detect fraud. The loan modification program relies on a ... |
| Loan Modification Moving Forward Through San Gabriel Valley ... PR.com (press release) - Levittown,NY,USA San Gabriel Valley Mortgage's Loan Modification program is available in all of California. For more information call San Gabriel Valley Mortgage's office in ... |
Loan Modification - Negotiating with Your Lender
Increase your chances of modifying your home loan.
Tags: Negotiating with Your Lender
| Get Your Loan Modification Approved With These Pointers Now, we will deal with a few pointers to increase your chances of obtaining a loan modification. By knowing these little known facts you greatly step-up your chances of success. Let's check out a couple of tips. .... When thinking of a computer training program it's essential that the certification you'll be working towards appropriates with the working world. Additionally, you should make sure that your training will suit you, your personality and abilities. ... |
| Survey: Mortgage Servicers Back Obama Plan - Mortgages And Banking ... Mortgage servicers who handle more than three-fourths of the nation's home loans intend to participate in the Obama administration's mortgage-modification program, according to a survey by the nonprofit group Acorn. |
| Mortgage Loan Modification Now Cheaper and ... A new online service, ModificationSoft.com, is making it easier and more cost-effective for homeowners to modify their own mortgage loan. The unique do-it-yourself mortgage loan modification portal is designed to help homeowners lower .. |
Loan Modification: negotiating with your lender | Loan ...
By admin
Many homeowners are under the impression that their lender will be willing to modify a mortgage in order to avoid foreclosure; however, lenders don't seem to be so accommodating. In fact, many aren't interested in dealing directly with ...
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