Truth in Foreclosure

5.66 Percent of Eligible Mods Go Permanent

5.66% of eligible mods were permanent in January according to the Treasury Dapartment. GMAC leads the pack at over 19% and Wachovia is in last place according with 1.39%. Check out how your lender is doing...

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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 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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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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