Archive for the ‘Loan Modification’ Category

Loan Modifications Frequently Asked Questions: Welcome to the World of Loan Modifications

Article by 1stforeclosureprevention Are you one of the millions of people hit by the housing downturn? If so, then a loan modification may be in your future. A loan modification is part of the Obama administration’s new housing plan to help both regular home owners and [...]

Considering a Loan Modification? Consider Bankruptcy Instead.

Article by Chang & Diamond, APC “The crash of the housing bubble has left many homeowners in homes that are now not worth what was paid for them. The current economic crisis and rise in unemployment are leaving many homeowners with mortgages they cannot afford for [...]

Another one bites the dust in the crackdown of loan modification scams

You would think if you were in the loan modification business you would know by now how serious the Federal Trade Commission is taking cracking down on business who are preying on struggling homeowners.  Evidently, some companies are still trying to fly under the radar. U.S. Mortgage Funding Inc, Debt Remedy Partners Inc and Lower [...]

Questions About Loan Modification?

Article by Anthony Dean A Loan Modification from a mortgage lender is a permanent change in borrower’s loan. Loan modifications allow a mortgage to be reinstated allowing the borrower an affordable mortgage payment. A true loan modification will offer a long term solution typically resulting in [...]

FHA HAMP Loan modification

The Federal Housing Authority or FHA does have modification options available.  However, these are not easy modifications to qualify for. The FHA HAMP modification eligibility requirements: How do I know if my loan is a Fannie Mae or Freddie Mac owned? You can visit www.makinghomeaffordable.gov webpage and click on loan look up. 1). 1-4 unit [...]

Finding the right help when applying for a loan modification

The web is crawling with DIY (do it yourself loan modification) kits, from cd’s to ebooks’ you can pretty much find anything and everything to help you save your home.  Question is will they really help you? Where do you go to find inside information and tools that make sense to you? If you have [...]

Mortgage defaults, and loan modifications showing signs of slowing down

The governments Home Affordable program has not reached as many home owners as projected, however, it has helped to stabilize a platform for lenders to follow and produce suitable loan modifications to help homeowners stay in their homes.  The likely hood of homeowners re defaulting on loan modifications within a 12 month period is pretty [...]

6 Common Loan Modification Myths

Do I have to be late in order to get help? NO, you can still be current but maybe struggling to make your payments you can apply for assistance. Will a loan modification reduce my principal? Possibly, beginning in the fall of this year you will start to see ONLY certain targeted areas be offered [...]

What if I get denied for a loan modification?

You have patiently waited for the lender/servicers response to your request for a loan modification only to receive a few weeks, or months later a denial notice.  Now sometimes these letters will tell you why you were denied, but in some cases they will not and leave you speechless, and frustrated.  If you have the [...]

Ban Proposed on Loan Modification Upfront Fees

Federal regulators are considering a ban on the upfront fees commonly charged by loan modification companies for helping troubled homeowners. The move is part of a nationwide crackdown on loan modification and mortgage scams, which prey on borrowers desperate to stay afloat amid the recession. Government officials and attorneys-general from 12 states met last Thursday [...]

Can I Get a Loan Modification – We can show you how

Article by Gen Wright Loan owed by a person for his requirement and at times when in a position to repay the loan then homeowner needs some solution for it. Loan modification is a solution for such problem though it is not very easy to be done. Loan [...]

How to get a Loan Modification Approved

Article by Art Lee Many people do not understand what it takes to get qualified for a loan modification. The general rule of getting approved is that you must be able to afford it! What this means is that you should be able to show income and assets [...]

Two Ways to Get Approved for a Loan Modification If You?ve Been Turned down Already

Getting turned down on a home loan modification can be a devastating event leading to either foreclosure or the uncertainty of waiting in limbo for the home to sell at auction. Homeowners are currently being disqualified or not approved for variety of reasons including loss of employment, excessively high mortgage debt relative to income, and/or [...]