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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Home Affordable Loan Modifications Begin–Foreclosure Moratorium Ends

If you've been following our coverage of President Obama's Home Affordable Loan Modification program, you're well aware we've been waiting over a month for loan servicers to get their processes figured out. Ocwen Financial Corporation announced yesterday they've figured it out and are ready to begin taking applications. Find out how to apply, what will happen after you apply, and what to expect if Ocwen isn't your servicer by reading the rest of the story on our site.

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Chase Opens Loan Mod Centers

In the past few weeks, JP Morgan Chase has opened 24 loan modification centers around the country staffed with customer service agents that will help homeowners one on one. If you have a loan serviced by Chase, WaMu, or EMC Mortgage you can get help from a real, live person...check it out...

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More Lenders Join the Moratorium Bandwagon

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.

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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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