Archive for March, 2009

Which Mortgage Option Available for Homeowners

Thursday, March 19th, 2009

The mortgage loan modification plan aims to help four million borrowers who are behind in their payments or are at risk of default. That includes those who are those suffering serious hardships, declines in income or increases in expenses; facing an interest rate hike; having high mortgage debt compared to income; owing more than their [...]

Loan Modification Helps Family Stay In Home

Sunday, March 15th, 2009

A Brentwood family who bought their home at the top of the market gets a loan modification, thanks to a persistent ConsumerWatch volunteer, who helped them through the process.  Carolyn Flanery and her husband Bill bought their dream home in Brentwood back in 2005 for $605,000, when the real estate market was booming.  They put [...]

75 Billion Dollar Mortgage Rescue Plan

Thursday, March 12th, 2009

The mortgage relief bill has been finance experts questioning the 75 billion dollar home foreclosure prevention package.  Many people believe these homeowners will likely default even after the loan modification is provided.   NCRC’s John Taylor Discusses 75 Billion Dollar Mortgage Rescue Plan with CNN’s Lou Dobbs   John Taylor, President & CEO of the [...]

Foreclosure Rescue Scams Rise

Thursday, March 12th, 2009

Unfortunately with all of the stimulus packages and mortgage relief bills being passed, the number of home foreclosure prevention scams continues to rise.  States like Florida, California, Arizona and New jersey continue to report a spike in complaints against brokers and sales people claiming to help borrowers with foreclosure rescue. Cynthia Bowers reports that more [...]

Obama Team Announces Loan Modification and Housing Relief Plan

Sunday, March 8th, 2009

The Associated Press reported that the Obama administration rolled out a new loan modification program Wednesday designed to help up to 9 million borrowers stay in their homes through mortgage refinancing or mortgage loan modification plans to lower mortgage payments each month for the remainder of their loan terms.  Borrowers, however, are being advised to [...]

Obama Team Announces Loan Modification and Housing Relief Plan

Sunday, March 8th, 2009

The Associated Press reported that the Obama administration rolled out a new loan modification program Wednesday designed to help up to 9 million borrowers stay in their homes through mortgage refinancing or mortgage loan modification plans to lower mortgage payments each month for the remainder of their loan terms.  Borrowers, however, are being advised to [...]

Home Loan Defaults Rose for 8th Straight Quarter

Tuesday, March 3rd, 2009

The number of people who were late making their mortgage payments shot up 53 % in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC. The credit reporting agency said its database shows delinquencies — or the %age of mortgage holders at least 60 days behind [...]