Tag Archive | "Home Affordable Foreclosure Alternatives"
What Happens to My Credit Score with a Mortgage Loan Mod?
The companies behind the new VantageScore credit score just finished up a study of over 400,000 credit files to see what the impacts of different foreclosure workouts are. Their results aren't probably as bad as you think...some people could actually see an increase in scores because of modifications. Come find out how...as well as what to expect if you have a short sale, a foreclosure, or a bankruptcy instead of a mod. Plus, I share what's happened to my credit because of my short sale.
Continue reading...What Happens When I Can’t Complete My HAMP Trial Plan?
Friday, April 2, 2010
As part of The Administration’s new plans last week, they’ve clarified what you can expect to happen if you are unable to make your HAMP trial plan payments and want to try a short sale. In addition, they've released guidance that limits your servicer's ability to foreclose until they've evaluated you for HAMP.
Continue reading...Details of HAMP Forbearance for Unemployed Released
Monday, March 29, 2010
The administration released the details of their new Temporary Assistance for Unemployed Borrowers last week. Here are the highlights....
Continue reading...5.66 Percent of Eligible Mods Go Permanent
Thursday, March 25, 2010
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...
Continue reading...President Obama, the Treasury, and the News All Have It Wrong!
Wednesday, March 24, 2010
Have you noticed the shift in the everyone’s language over the past few months? It doesn’t matter if you’re listening to President Obama, the Treasury Secretary, members of Congress, the news media, or even your lender. They’ve all started talking about saving homeowners from foreclosure rather than keeping homeowners in their homes.
Continue reading...Get Your Short Sale Approved
Tuesday, March 16, 2010
For those out there (like me) going through a short sale, I found this interesting interview on the Mortgage Servicing News website. The interview is with Kevin Beck who is the Foreclosure & OREO Manager for Fremont Bank in Northern California. He explains why short sales often fail and discusses the short sale process when you have a second mortgage. It's quite enlightening...
Continue reading...Using a HOPE Now Counselor Makes Your Mod Go Faster
Thursday, March 4, 2010
HOPE LoanPort gives HUD-approved counselors the ability to submit completed Home Affordable Modification Program (HAMP) applications directly to a homeowner’s servicer, and the Web portal allows counselors to track the status of the application in order to provide borrowers with more timely decisions. What's this mean for you and your home?
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...Documenting Irregular Income for a Mortgage Modification
Tuesday, March 2, 2010
I’ve been asked many times what you should do if you have irregular income and you’re applying for a loan modification. How should you report it in the forms to accurately reflect your situation.
Continue reading...5 Most Helpful Foreclosure Resources
Thursday, February 25, 2010
Over the past 3 years, I’ve posted many links to organizations and websites so you could track down answers and help. But I’ve never collected those resources in one place. These are the 5 sites you should visit to get help and stay current on what’s going on in Washington D.C. that might be able to help you.
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...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...Your Lender’s Dirty Little Secret
Friday, January 15, 2010
Have you ever wondered how your lender or servicer decides what to do when you submit a hardship package to them? Come and see exactly how today!
Continue reading...
- You've Been Turned Down for HAMP...Now What?
- Called on the Carpet for Denied Loan Mods – Is Wells Fargo the First of Many?
- HAMP Switches Gears…Away from Mods to “Avoiding Foreclosure”
- Plenty of Loopholes in New HAMP Writedown Plan
- Foreclosures Take 12 Months on Average
- Continuing the Predatory Lending Fight
- Net Present Value and Why It Matters to You
- Chase Plans Foreclosure Prevention Events
- Mortgage Modification Conversion Drive - Part 2
- HAMP Update – New Program Offers Borrowers Foreclosure Alternatives
- Todd Temaat: The bottom line is that once the home is sold, it'...
- Todd Temaat: First of all, just because the bank says you CAN s...
- Todd Temaat: 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...
Wednesday, April 21, 2010
3 Comments