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Loan Modifications

Loan Modifications – I Wouldn’t Do It As a result of loan modifications, there are a number of federal lawsuits filed in Boston accusing major lenders of breach of contract under the government’s Home Affordable Modification Program, where these banks agreed to participate as part of the bank bailout. The lawsuits state the banks agreed […]

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Loan Modification – Can Be A Nightmare

Loan Modification According to a recent posting on Bloomberg, Richard Neiman, the New York State superintendent of banks stated that mortgage companies make the loan modification problem worse because they actually lose paperwork. The California Reinvestment Coalition found in a survey they conducted of 40 counselors that represent around 14,000 homeowners, these counselors all said […]

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Mortgage Modifications Lead To Foreclosure

Mortgage Modifications Don’t Help Mortgage modifications didn’t help three year old Anthony, who often tells his mom Jill G., of Mesquite, Texas before he goes to bed: “I wanna go to the other house.” Jill, Anthony and their dog, Tiffy a black Lab-mix, moved approx 12 miles to a rental after their home in Garland […]

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Loan Modification

Loan Modification – Does It Really Work? Recently in a hearing, called by the bipartisan Congressional Oversight Panel, which was given the responsibility of monitoring the government’s foreclosure bailout programs, the panel members pounded the Treasury Department for the shortcomings in its mortgage loan modification process.  This hearing came only days after a report issued from […]

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Loan Modification Failures Get Help

Loan Modification – Is It Worth Trying? A year and half ago, the government launched a loan modification program to help homeowners. The federal government’s loan modification program is unfortunately not helping as many homeowners facing foreclosure as hoped for. Of the Phoenix area borrowers that hoped to lower their monthly payments through the Home […]

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Loan Modification Gone BAD! Ends in Foreclosure Filing

Loan Modification – Alright Things Are Going Great According to reports, to Feliciano Mendez’ delight, Bank of America sent him a letter stating that his loan modification was approved.  Of course, he began making payments, as this was most certainly a great relief to he and his family.  Like many other hard working Americans, he […]

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Don’t Qualify For A Loan Modification?

Unfortunately, last month more delinquent homeowners learned they didn’t qualify for President Obama’s foreclosure program. New concerns regarding the U.S. housing market’s health and vibrancy have rightfully renewed interest in the success of President Obama’s foreclosure prevention programs. It has been wondered that an increase in foreclosures, combined with the current drop in housing sales, could […]

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Loan Modifications Don’t Work

According to two Republican Congressmen, President Barack Obama’s plan to help homeowners avoid foreclosure is a failure. According to a resource, Rep. Jim Jordan, R-Ohio and Rep. Darrell Issa, R-Calif communicated to Treasury Secretary Timothy Geitner a letter, which was sent not too long ago, telling him to “end immediately” the Home Affordable Modification Program […]