Truth in Foreclosure

Treasury Issues Mortgage Loan Report Card

The Treasury Department releases its first monthly "report card" tracking how the various banks and mortgage companies are doing in their efforts to prevent foreclosures. The Obama administration is pressuring the mortgage industry to do more. The latest figures indicate foreclosure rates keep rising. Come listen to the NPR report and then chime in with your experience.

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Home Affordable Loan Modifications Begin–Foreclosure Moratorium Ends

If you've been following our coverage of President Obama's Home Affordable Loan Modification program, you're well aware we've been waiting over a month for loan servicers to get their processes figured out. Ocwen Financial Corporation announced yesterday they've figured it out and are ready to begin taking applications. Find out how to apply, what will happen after you apply, and what to expect if Ocwen isn't your servicer by reading the rest of the story on our site.

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Home Affordable Refinances Start at B of A

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...

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Lawmakers Get Foreclosure Suspension Commitments

The presidents of several of the country's largest lenders agreed to suspend foreclosure actions yesterday in a hearing before Congress. If you have a foreclosure sale date, you should contact your lender and see if they're following suit. Representative Barney Frank, Chairman of the House Financial Services Committee, says he expects about 95% of lenders to do the same until....

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Project Lifeline Gives You 90 More Days…maybe

If you're 90 days or more behind on your payments, regardless of whether you've tried to negotiate a workout plan with your lender in the past or not, you may now have an additional 30 days to negotiate...if you're not in bankruptcy or have a foreclosure sale within 30 days, that is. But you have to ask for it.

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