The new housing plan announced by President Obama last week has two main parts. First, there is a billion loan modification plan and, second, there is a program that helps borrowers who are not in danger of defaulting refinance their mortgage. These are some of the key questions to ask to determine if you … Read more
Today there are many homeowners who struggle tirelessly to pay the mortgage payments on time. Many of these homeowners in trouble has a loan at low interest rate with a variable interest rate, which according to their initial level of interest rates was not available back started much higher. In most cases payments started to … Read more
While investigating loan modifications, odds are you will find all sorts of information on the Internet (whether on company websites, blogs, news sites or other sources) that give you all sorts of information. Some of that information may be contradictory. While it’s all well and good for different companies to produce different viewpoints, you probably … Read more
As the Treasury and the Department of Housing and Urban Development meet with loan servicers to discuss how to quicken the pace of loan relief in the form of loan modifications the reasons/excuses for their slow rollout are being presented by industry watchers and economists. Faced with increasing frustration on all fronts, the aim of … Read more
Up until a few months ago, lenders were not modifying loans for home owners that were on time with there payments. So if you have been considering to miss a few mortgage payments to encourage your lender to modify your loan, you may want to re-consider. Normally lenders would only grant loan modifications to home … Read more