Archive for the 'home loan modification' Category

Home Loan Modifications Getting Approved?

Monday, August 9th, 2010

Over the last few years, banks have been pretty active in approved home loan modification agreements for distressed homeowners nationally.  When Karol Enferadi finally received a contract for her loan modification, she wrote “rejected” on it in large letters and mailed it back to Wells Fargo.   Under the contract, the 65-year-old’s monthly payments would have [...]

Homeowners Believe Banks Not Serious about Refinance or Loan Modification Program

Monday, March 1st, 2010

A slew of struggling homeowners are coming forward with complaints about the way banks are operating under a federal loan modification program announced last year by the Obama administration. Thousands of American homeowners need help mortgage refinancing or qualifying for a loan modification agreement that would lower the interest rate, like a refinance loan. “You [...]

Mortgage Lenders Required to Maintain Home Foreclosures

Thursday, February 4th, 2010

Banks are now required to extend a lot more than a loan modifications. As a result of the federal Protecting Tenants in Foreclosure Act, states across the country are passing similar legislation that makes home lenders obligated to maintain home foreclosures from the time of the judgment of foreclosure through the closing of the sale. [...]

Home Loan Delinquencies Rise At Freddie Mac

Wednesday, January 27th, 2010

Freddie Mac said delinquencies in its mortgage portfolio continued to rise last month, putting further pressure on the mortgage giant.  It and larger sibling Fannie Mae were put into conservatorship in September 2008 by the federal government amid fears of mounting losses at the companies. Home loan modifaction plans continued to flood the mortgage market.  [...]