Tag Archive | "government regulation"
Mortgage Relief Online
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...Take Advantage of President Obama’s Plan
Friday, February 27, 2009
Our third of three posts on President Obama's Homeowner Affordability and Stability Plan. You can help yourself out tremendously by taking a few simple steps between now and when the program starts on March 4. You'll also learn what to do if you already have a foreclosure sale date and your lender hasn't notified you it's been suspended.
Continue reading...President Obama’s Plan – What No One Is Telling You
Thursday, February 26, 2009
Part 2 of my 3 part series on President Obama's foreclosure relief plan. Come read about the refinancing plan that won't help the people in the most heavily affected states like California, Arizona, Florida, and others. Will the fact the plan only covers your first mortgage be an issue for you? Did you know your lender might not participate? Find out more about these and other gotchas by reading the rest of the article on the site...
Continue reading...President Obama’s Foreclosure Plan – The Basics
Tuesday, February 24, 2009
You've probably heard a lot about President Obama's Homeowner Affordability and Stability Plan. He unveiled it last Wednesday in Phoenix and there was a firestorm of coverage about it. It's an intensive and comprehensive plan. He plans to put $75 Billion into three main programs to help homeowners in foreclosure and those that are approaching foreclosure. The is the first of three articles exposing everything you need to know about the plan...even what the news isn't telling you!
Continue reading...More Lenders Join the Moratorium Bandwagon
Saturday, February 14, 2009
More lenders are agreeing to suspend the foreclosure process to wait on the Treasury Department's new Financial Stability Plan. Most are agreeing to suspend it for 3 weeks...come see if your lender is on board as well as my prediction about what to expect.
Continue reading...Lawmakers Get Foreclosure Suspension Commitments
Friday, February 13, 2009
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....
Continue reading...Are banks too greedy?
Wednesday, February 11, 2009
There’s been a lot of finger pointing about who’s to blame for the fall in housing prices and, by proxy, the economic slump the country is in right now. Was it lack of government regulation? Was it greedy mortgage brokers? Irresponsible lenders? Mortgage investors? Or was it us…the American homeowner? According to Zillow and other sources, 1 in 6 homes in America that have mortgages are in default. That’s about 18%...and way too many for one thing to be the cause. So was it the ‘perfect storm’ that got us here? Fact is we're all greedy...that's the problem...and the solution...
Continue reading...- Todd: The bottom line is that once the home is sold, it'...
- Todd: First of all, just because the bank says you CAN s...
- Todd: I'd recommend going to your state attorney general...
- Jane Stewart: Dear Todd, We got behind on our mortgage and was ...
- D Weaver: I applied for the Home Modification program last m...
Monday, May 11, 2009
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