Tag Archive | "government regulation"
States Hardest Hit by Foreclosure Get More Money
The Obama Administration released the next steps in the recently-announced Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets ("HFA Hardest-Hit Fund"). States where house prices have fallen more than 20% from their peak will share $1.5 billion in funding. Those states are ...
Continue reading...Foreclosures Take 12 Months on Average
Wednesday, March 3, 2010
Several new proposals have made their way to the President to help you save your home from foreclosure. These are all proposals, but some of them will probably make it to law…only question is how long before they do. They include a 30 day HAMP appeal period and a possible re-working of the Net Present Value model.
Continue reading...January’s Top 5
Tuesday, February 23, 2010
January was a very busy month for us here at Truth in Foreclosure and we had more site visits than any other month in our 3 year history. So we’ve put together the top 5 posts for January so you don’t miss anything.
Continue reading...Foreclosure Assistance Programs by State
Monday, February 22, 2010
I found this list of state housing agencies. I haven't checked to see if each state has a foreclosure assistance program, but if you’re looking for assistance from your state, here’s where you can start. All 50 states plus Puerto Rico and the Virgin Islands are listed below in alphabetical order.
Continue reading...Home Affordable Foreclosure Alternatives (HAFA) for Non-GSE Loans
Friday, February 19, 2010
A couple weeks ago when I wrote about the Home Affordable Foreclosure Alternatives program, I got some questions about what you could do if your loan wasn’t serviced by Fannie Mae. Well, I did a bunch of searching around and found the training video below on the HAMP Admin web site…
Continue reading...HAMP Switches Gears…Away from Mods to “Avoiding Foreclosure”
Thursday, February 11, 2010
According to the Obama Administration, HAMP's not about modifying loans! They're more concerned with helping homeowners "avoid foreclosure." With a paltry 66,000 loans permanently modified through the end of December, it sounds like the administration is pulling a bait and switch...and it may cost you your home...
Continue reading...Servicers Make More by Foreclosing than Modifying
Thursday, January 28, 2010
Foreclosures are a costly ordeal for the homeowner, the lender, and the community. Yet they continue to outstrip loan modifications because servicers have no incentive to help borrowers stay in their homes. Come read more and download the free 60 page special report...
Continue reading...What if Freddie and Fannie Weren’t There Any More?
Monday, January 25, 2010
Rep. Barney Frank (D-Ma.), chairman of the House Financial Services Committee, said Friday that Fannie Mae and Freddie Mac should be eliminated as they stand now. Does this mean anything at all for you, your mortgage, or your fight to keep your home? After all, Freddie and Fannie own or service over half of all mortgage loans in the country. Come see why it won't matter!
Continue reading...HAMP – Temporary Review Period for Active Trial Modifications Scheduled to Expire on or before January 31, 2010
Wednesday, January 6, 2010
Effective December 23, 2009 and lasting through January 31, 2010, Treasury is implementing a review period for all active HAMP trial modifications scheduled to expire on or before January 31, 2010. Servicers may not cancel an active HAMP trial modification during this period for any reason other than failure to meet the HAMP property eligibility requirements. If you're in a HAMP trial period or have been kicked out of yours, you MUST read this post NOW!!!
Continue reading...Mortgage Modification Conversion Drive – Part 2
Monday, December 28, 2009
The new Obama Mortgage Modification Conversion Drive includes more servicer accountability, web-based tools for borrowers, and engagement of local and state agencies; but will it be any better for borrowers in the end?
Continue reading...Obama administration Kicks off Mortgage Modification Conversion Drive
Saturday, December 26, 2009
The U.S. Department of the Treasury and Department of Housing and Urban Development (HUD) kicked off a nationwide campaign to help borrowers who are currently in the trial phase of their modified mortgages under the Obama Administration's Home Affordable Modification Program (HAMP) convert to permanent modifications. Come to the site to see what it means for you and your modification.
Continue reading...Home Affordable Short Sale Program – Will it Help You?
Wednesday, September 30, 2009
I wrote a couple weeks ago about Congress’ latest change to the Home Affordable Program…they want to add incentives for lenders to offer short sales and/or deeds in lieu so they won’t actually have to foreclose. When I wrote that, there was no news out on the program, but now the Treasury Department has released the latest program update and here’s what I’ve learned.
Continue reading...Programs for Foreclosure Mediation
Tuesday, September 29, 2009
Summary of 22 state/local programs that establish some type of foreclosure diversion program requiring lenders to engage in mediation, conciliation, or a settlement conference. Summaries include a general program description and lender and borrower obligations under the program.
Continue reading...Home Affordable Program for Short Sale & Deed in Lieu?
Friday, September 11, 2009
According to Housingwire.com, Congress expects to put out a program similar to the Home Affordable plan to help homeowners trying to short sell their home or give it back to the bank through a deed in lieu. And they expect to have the details out by late this month...come to the site to see what it may mean for you and me as we try to short sell...
Continue reading...Hope for Homeowners Equity Sharing
Wednesday, June 10, 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...Home Affordable Deeds in Lieu and Short Sales
Friday, May 22, 2009
So what happens if your servicer says you don't qualify for a Home Affordable Modification or Refinance? The Treasury Department and HUD have added to the Making Home Affordable program to answer that question. If you're eligible for a Home Affordable Mod or Refinance but did not qualify, you need to check this out now...
Continue reading...Lenders for Home Affordable Modification and Refinance
Wednesday, May 20, 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...Home Affordability Program Adds Second Mortgages
Monday, May 18, 2009
The Obama Administration today announced details of new efforts to help bring relief to responsible homeowners under the Making Home Affordable Program, including an effort to achieve greater affordability for homeowners by lowering payments on their second mortgages. Under the Second Lien Program, when a Home Affordable Modification is initiated on a first lien, servicers participating in the Second Lien Program willautomatically reduce payments on the associated second lien according to a pre-set protocol. Read more on the site...
Continue reading...Make Your Lender Reconsider Your Mod Eligibility
Wednesday, May 13, 2009
If you've been turned down for a Home Affordable Modification for a Freddie Mac mortgage, you may be able to make them reconsider your eligibility!
Continue reading...Mortgage Relief Online
Monday, May 11, 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...My Servicer Isn’t Participating
Thursday, April 2, 2009
Since the announcement of President Obama's Home Affordable Loan Modification and Home Affordable Refinancing programs, we've been getting a lot of questions about particular servicers and whether or not they're going to participate in the program. Many of you have been asking what you can do if your servicer says they aren't. So many people have asked, I dug through more Treasury Department documents and found good news for some of you. We also found the only 3 ways you can find out if your servicer is participating...
Continue reading...Home Affordable Refinance and Modification Update
Tuesday, March 31, 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
Monday, March 9, 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...President Obama’s Home Affordable Loan Modification
Thursday, March 5, 2009
This took a little longer than I wanted it to, but I wanted to be as thorough as possible for you. I'll start with the loan modification part of the President's plan first since I know that's what most of you want to know about. Come and read about the qualifications, the process, and the lack of principal reductions.
Continue reading...Obama Foreclosure Relief Plan Details
Wednesday, March 4, 2009
I'm still trying to make it through the 50+ pages of documents below to find the most valuable tidbits for you, but I wanted to post these links so you can begin your own research. I'll post more this afternoon...
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...
Wednesday, March 10, 2010
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