Archive for the 'Published Loan Relief Articles' Category

US News Reports Foreclosure Crisis Worsening

Monday, October 22nd, 2012

Most people are under the impression that the foreclosure crisis is getting better.  The US News published an article that indicated the contrary. Home Foreclosure Facts: •The underwater mortgage loans which are currently under the foreclosure process, is amounting to almost $45 billion (that is mainly in terms with negative equity) •More than almost 12 [...]

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 [...]

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 Delinquency Rate Reaches All Time High

Monday, August 17th, 2009

The delinquency rate on U.S. home loans reached an all-time high in the second quarter, but the pace of growth for the rate slowed, a possible sign the mortgage crisis may be beginning to turn the corner.  Data provided by credit reporting agency Trans Union shows the ratio of mortgage holders who are 60 days [...]

Massachusetts Homeowners Behind on Mortgages

Thursday, July 23rd, 2009

Massachusetts foreclosure petitions in June jumped to 2,835 – more than eight times higher than the 350 petitions in June 2008 and 21.7% higher than the 2,329 filings in May, said the Warren Group, which added that the number of petitions to foreclose in June was the highest it’s been in the previous 13 months.  [...]

Considerations for Home Loan Modification Programs

Thursday, July 23rd, 2009

Let’s be honest… There can be no denying the fact that the US government is not in favor of forcing homeowners out of their homes, even when they are in home loan default and facing foreclosure. Legislative bodies in Washington, Fannie Mae and Freddie Mac, have taken action with home loan modifications to stem the foreclosure crisis [...]

Loan Modification Requests Imploding in California

Wednesday, June 24th, 2009

California loan modification requests continue to be reported with increasing volumes.  Many California homeowners need jumbo mortgage refinance loans, but they do not qualify as the jumbo lending has tightened significantly. Governor Schwarzenegger implemented another California foreclosure moratorium to help distressed homeowners in his state, but is it helping? Many Wall Street analysts covering the home-builder [...]

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 [...]

Fannie & Freddie Easing Loan Modification Rules

Thursday, February 26th, 2009

In a recent Bloomberg article, Dawn Kopecki wrote about Fannie Mae and Freddie Mac need to relax rules for a loan-modification program that promised to cut mortgage interest rates and lengthen amortization schedules for troubled borrowers, the chief economist for the companies’ regulator said.  Fannie Mae and Freddie Mac have sent 90,000 letters to borrowers [...]

Home Loan Modification Tips

Wednesday, February 4th, 2009

Do not let yourself get pressured into signing up for a loan modification plan if you aren’t ready to commit to remaining in your home.  Have your attorney review any documents or loan modification contracts before signing them.   Ask questions until you fully understand anything you find confusing or out of the ordinary.  Ask the [...]

New Loan Modification Guide for Consumers

Tuesday, February 3rd, 2009

Home foreclosure in the U.S. has reached epidemic proportions, and one of the nation’s hardest hit communities, spanning three counties in Southern California, will be the first to hear about a viable solution. Founders of a new Web site,, designed specifically for homeowners facing loss, plan to discuss their solution this Saturday from 10:00 [...]