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NACA – Home Save Program
As a follow-up to last week’s article introducing you to NACA, I decided to let you know about one of their programs aimed at helping people going through foreclosure. NACA’s Home Save Program provides four long-term solutions. All of the below solutions provide for an affordable mortgage payment over the long-term. In fact the Restructuring sometimes lowers the fixed interest rate to less than a NACA Refinance. As opposed to the refinance, a Restructure is...
Continue reading...Too Good to Be True?
19. June 2009
Have you been looking for a trustworthy non-profit organization to help you out of foreclosure or save your home? We’ve been looking too…and this is what we found. An organization that offers low-interest home purchase and refinance loans to "high risk" borrowers. They have an amazing track record of successful advocacy against predatory and discriminatory lenders. It sounds too good to be true…but rest assured it isn’t. They’ve been around since 1988!
Continue reading...Hope for Homeowners Equity Sharing
10. June 2009
If your lender agrees to work with you and refinances you through the HOPE for Homeowners program, you must share both the equity they initially create as well as any price appreciation that comes from selling. See what this means to you with actual examples...
Continue reading...HOPE for Homeowners Changes
8. June 2009
On May 20, 2009, President Obama signed Senate bill 896 into law. It has many provisions meant to help stem foreclosures and deal with several problems that have developed since the HOPE for Homeowners, Home Affordable Refinances, and Home Affordable Modifications have been implemented. Your new H4H mortgage will be no more than 90% of the new appraised value of your home with the lender essentially writing down your current mortgage to that amount. Yes...this is one of the few programs that actually allows principal forgiveness.
Continue reading...Lenders for Home Affordable Modification and Refinance
20. May 2009
Here's the latest list of lenders that have signed agreements with the Treasury Department to process loan modifications and refinances through the Home Affordable program. Check to see if your is one...
Continue reading...Mortgage Relief Online
11. May 2009
Trying to figure out whether you qualify for a Home Affordable Loan Modification or Refinance? You're obviously not alone...we've get getting tons of questions about it on many of our blog posts. While we've been doing our best to give you the qualifications for the programs, we've unfortunately been unable to provide information specific to your situation. But a project called Mortgage Relief Online can now do that!
Continue reading...Home Affordable Refinances Start at B of A
13. April 2009
As we wrote a couple weeks ago, most lenders haven't started processing Home Affordable Refinance or Home Affordable Loan Modification packages yet. Well that's beginning to change...finally! Bank of America announced yesterday that they have begun accepting refinancing applications under the program. Come find out what this means for you...even if your loan isn't serviced by Bank of America or Countrywide. If you're waiting on a Home Affordable modification rather than a refinance, there's big news in the article for you too...
Continue reading...Chase Opens Loan Mod Centers
1. April 2009
In the past few weeks, JP Morgan Chase has opened 24 loan modification centers around the country staffed with customer service agents that will help homeowners one on one. If you have a loan serviced by Chase, WaMu, or EMC Mortgage you can get help from a real, live person...check it out...
Continue reading...Home Affordable Refinance and Modification Update
31. March 2009
If you've been trying to contact your lender about refinancing or modifying your mortgage through President Obama's new plans, you've likely been frustrated. Few, if any, servicers have finalized their plans or trained their loss mitigators or how they're going to handle the new plans. And according to the Association of Community Organizations for Reform Now (ACORN) and a study they just finished, "76 percent of outstanding mortgage loans are serviced by companies who have committed to implementing the plans". But what's that mean for you and your mortgage? Come read the rest of this article to find out...
Continue reading...President Obama’s Making Home Affordable Refinance
9. March 2009
Here's the post you've been waiting on about President Obama's Making Home Affordable Refinancing program. If you owe less than 105% of what your property's worth, you probably qualify, but there are several things you should be aware of. For instance...this post tells how to figure out if your loan is held by Fannie Mae or Freddie Mac and how to start the refinancing process with this program. If you have questions, please ask as a comment...
Continue reading...Refinancing Options for Upside Down Mortgages
28. January 2009
Until the Hope for Homeowners program was announced, most homeowners that were upside down on their mortgage had no realistic way to refinance their home. Even if they still had good credit and had no hardship, they couldn't afford to bring tens of thousands of dollars to the closing table. Hope for Homeowners is designed for any homeowner whos wants to refinance their existing upside down mortgage(s). Of course there are strict guidelines to follow...read more at the site
Continue reading...Short Refinance or Modify Jumbo Loans?
30. December 2008
If you have an expensive home that has fallen in value and you're near or in foreclosure, you have some tough choices to make. Is a short refinance or a loan modification right for you? Our mortgage expert from California explains the difference and which is better...
Continue reading...
- Home Affordable Loan Modifications Begin--Foreclosure Moratorium Ends
- My First Rant -- The Foreclosure Industry
- Make Your Lender Reconsider Your Mod Eligibility
- Hope for Homeowners Equity Sharing
- Create Your Own Hope Rather Than Putting It In Your Servicer
- HAMP Switches Gears…Away from Mods to “Avoiding Foreclosure”
- The 3 Steps Your Lender Must Take for a Home Affordable Modification
- Called on the Carpet for Denied Loan Mods – Is Wells Fargo the First of Many?
- HomeSaver Forbearance from Fannie Mae
- Interviewing a Professional Hardship Letter Writer
- lisamarie: Everybody fight! If they 'lost' all this paper wor...
- lisamarie: If it doesn't work-it should. Bottom line is, thes...
- jim renfrew: yes i used them we had a three way conversion with...
- Todd Temaat: Unfortunately, you don't have much choice except t...
- Todd Temaat: Thanks for your comment. We have no connection to...
24. June 2009
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