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 [...]

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 [...]

Home Foreclosures Rates Soar in California, Nevada and Florida

Tuesday, November 18th, 2008

The leading online marketplace for foreclosure properties, today released its October 2008 U.S. Foreclosure Market Report(TM), which shows foreclosure filings, default notices, short sale notices and bank repossessions were reported on 279,561 U.S. properties during the month, a 5% increase from the previous month and a 25 % increase from October 2007. The report also [...]

Home Foreclosure Rates in Maryland Rise 32%

Monday, November 17th, 2008

According to a foreclosure prevention report, one of every 774 households in Maryland was in foreclosure in October.  Maryland foreclosures jumped 32 % between September and October to 2,973, according to RealtyTrac Inc. Maryland posted a year-over-year percentage decrease, however, down 16 %. Of Maryland, Virginia and Washington, D.C., it was the only jurisdiction to post [...]

Homeowner Mortgage Relief

Thursday, November 6th, 2008

Now that the Treasury’s Troubled Asset Relief Program has helped stabilize the financial system by injecting capital into some of the country’s largest banking institutions, the focus has shifted to the plan’s initiative on providing mortgage relief to distressed homeowners through loan modification. It’s one of the biggest challenges the plan could potentially face. This initiative has [...]

Home Foreclosure Advisors Teams up with Foreclosure Prevention Companies

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 [...]

Virginia Foreclosure Prevention Task Force

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 [...]

Bankruptcy and Foreclosure Law Talk

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 [...]

Foreclosing on foreclosures

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 [...]

Loan Modifications, Refinance and the Foreclosure Crisis

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 [...]

Foreclosure Prevention Planning in Pittsburgh

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 [...]