Tag Archive | "Home Affordable Refinance"
FHA Will Now Do a Short Refi — If You Haven’t Missed Payments
The Federal Housing Administration (FHA) is making some changes to its existing refinancing program guidelines to allow more lenders to perform mortgage principal write-downs for underwater homeowners in mortgages not currently insured by FHA.
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...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...30 Minute Hardship Letter Video Course
Saturday, October 31, 2009
I just finished making this almost half hour long video course. You can watch over my shoulder as I prepare, outline, and write a hardship letter and give you the tips and tricks I’ve learned over the years. I plan to sell this in the near future, but I need honest testimonials from people like you. So, for a short time, I’m going to put it out here for the world to see and leave feedback on. No sign ups or purchases required (right now)…all I ask is that you leave a comment as a response to this blog post.
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...Calling Your Servicer About Loan Mods – Is Success Possible?
Tuesday, September 8, 2009
A video released by Freddie Mac says that it is…and that having your documents all lined up and ready to go will help make things easier for you and your servicer. I think you'll agree the video over simplifies a very complicated and convoluted process and makes it appear as if the problem is with homeowners not being prepared when they call their servicer. Com see if you agree...
Continue reading...Making Home Affordable Road Tour
Tuesday, June 30, 2009
Government officials are joining forces with local leaders around the country to bring a nationwide promotion of the President's Making Home Affordable program to struggling homeowners. Initially, the road show will focus on cities hardest hit by the foreclosure crisis to build awareness around the country. As part of the campaign, officials are helping train local housing counselors and community organizers to help them be more effective. Come read the rest of this article and find out if the tour is coming to a city near you.
Continue reading...Refinance Freddie Mac Loan with a Different Lender
Friday, June 12, 2009
Soon you'll be able to refinance a Freddie Mac-owned or guaranteed mortgage with any lender affiliated with Freddie Mac. Previously, you had to work with the same lender who currently services your mortgage. In addition, to help reach more borrowers, Freddie Mac is increasing the amount of closing costs that can be rolled into the new refinanced mortgage. Come to the site for more info inclusing how to find out if your loan is held by Freddie Mac.
Continue reading...HOPE for Homeowners Changes
Monday, June 8, 2009
On May 20, 2009, President Obama signed Senate bill 896 into law. It has many provisions meant to help stem foreclosures and deal with several problems that have developed since the HOPE for Homeowners, Home Affordable Refinances, and Home Affordable Modifications have been implemented. Your new H4H mortgage will be no more than 90% of the new appraised value of your home with the lender essentially writing down your current mortgage to that amount. Yes...this is one of the few programs that actually allows principal forgiveness.
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...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...Home Affordable Refinances Start at B of A
Monday, April 13, 2009
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...
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...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...Refinancing Options for Upside Down Mortgages
Wednesday, January 28, 2009
Until the Hope for Homeowners program was announced, most homeowners that were upside down on their mortgage had no realistic way to refinance their home. Even if they still had good credit and had no hardship, they couldn't afford to bring tens of thousands of dollars to the closing table. Hope for Homeowners is designed for any homeowner whos wants to refinance their existing upside down mortgage(s). Of course there are strict guidelines to follow...read more at the site
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, March 31, 2010
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