Archive for October, 2008
Tuesday, October 28th, 2008
Home Foreclosure Advisors provides foreclosure prevention assistance for homeowners and mortgage industry professionals to support activities that champion the benefits of home ownership and retention. Borrowers facing foreclosure can contact our Loan Modification Division. If you prefer working with a group you’re more familiar with, the Loan Modification Outlet has teamed with a number of [...]
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Tuesday, October 28th, 2008
White House served notice Tuesday on banks and other financial companies receiving billions of dollars in federal help to quit hoarding the money and start providing mortgage loans. “What we’re trying to do is get banks to do what they are supposed to do, which is support the system that we have in America. And [...]
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Tuesday, October 28th, 2008
WAMU is promoting a home preservation plan in an effort to help their customers avoid foreclosures. Borrowers can choose fro repayment plan, loan modifications or forbearance. It is important for homeowners to realize that they do have options.
Loan Repayment Plan
If you have missed one or more mortgage loan payments, WAMU may be able to [...]
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Monday, October 27th, 2008
To help homeowners facing foreclosure find alternatives to losing their homes, an alliance of cities, national organizations and lenders is setting up shop for an afternoon. Preserving homeownership is the goal, said Patricia Garcia Duarte, chairwoman of the Arizona Foreclosure Prevention Task Force and president and chief executive officer of Neighborhood Housing Services of Phoenix, [...]
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Monday, October 27th, 2008
With foreclosure rates soaring in most states, the Federal government is moving fast to remove an impediment to distressed debt restructuring on the end of holders of home mortgage loans. The Emergency Mortgage Loan Modification Act of 2008 establishes a standard for loan modifications or workout plans for pools of certain residential mortgage loans.
States where [...]
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Saturday, October 25th, 2008
Governor Tim Kaine announced the creation of the Virginia Foreclosure Prevention Task Force at the Governor’s Housing Conference. This foreclosure crisis has devastated the housing market in Virginia, Maryland and Washington DC. More and more homeowners are requesting loan modification agreements with lower mortgage rates and improved amortization schedules.
The Foreclosure Prevention Task Force, chaired by [...]
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Thursday, October 23rd, 2008
Loan Modification: In the wake of the national foreclosure mess, homeowners have several opportunities to maintain their property ownership. If one solution does not materialize, consider the other.
1. Modifying you’re home mortgage can be a great move especially if you don’t qualify for a conventional or FHA refinance loan. With a loan modification you [...]
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Wednesday, October 22nd, 2008
San Diego-based You Walk Away, a company that helps families facing foreclosure, has instituted a new program called the Military Walk Away Protection Kit. This foreclosure prevention program is based on the federal law called the Servicemembers Civil Relief Act (SCRA), helps members of our armed forces who received loans while on active duty stave [...]
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Saturday, October 18th, 2008
Let’s say an absentee landlord owns the house next to yours. Neither of you keep up your mortgage payments. If you both declare bankruptcy, chances are better that he would keep his place than you yours. However beloved your home or settled your family is in the neighborhood, you can’t force your mortgage holder to [...]
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Saturday, October 18th, 2008
Iowans who have loans with Countrywide Financial Corp., the nation’s biggest subprime mortgage lender, will be the beneficiaries of a loan modification program starting on Dec. 1. About 1,100 borrowers in the state facing foreclosure and loss of their homes are expected to get relief under a settlement reached by Attorney General Tom Miller and [...]
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Friday, October 17th, 2008
The foreclosure crisis continues to ravage our economy with more lost jobs, reduced home equity from plummeting home sales and delinquent mortgage payments. Unfortunately, many people have the ability to make their home loan payment on time but they jumped on the loan modification train with their neighbors and stopped paying their mortgage in hopes [...]
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Friday, October 17th, 2008
Judges, lawyers, social services advocates and mortgage bank representatives are working to create a regional program that will offer free legal services and counseling to homeowners facing foreclosure, allowing them to cut a deal with lenders and remain in their home. The program was outlined Friday before Sen. Arlen Specter and Sen. Bob Casey at [...]
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