Making Home Affordable Program FAQ’s
April 29, 2010
Can Making Home Affordable help me if my loan is not owned or securitized by Fannie Mae or Freddie Mac?
Yes. Making Home Affordable offers help to borrowers who are already behind on their mortgage payments or who are struggling to keep their loans current. By providing mortgage servicers with financial incentives to modify existing first mortgages, the Treasury hopes to help as many as 3 to 4 million homeowners avoid foreclosur Read more
Feldman Law Center – Are Subprime Mortgages Returning?
April 3, 2010
There is a great quote regarding history that goes – those who do not study history are doomed to repeat it. However, it seems that even as we are watching history play out, we are seeing people repeating it again and again. A huge portion of our current economic crisis was caused by subprime mortgages and predatory lending practices. Unfortunately, some companies are going back to the subprime concepts.
Toll Brothers Inc. is Read more
US Govt Unveils New Mortgage Modification Incentives
March 22, 2010
In Washington, the Wall Street Journal reports that the Obama administration has unveiled a fresh set of incentives Tuesday for mortgage servicers to help strapped U.S. homeowners.
Under a new program, the government will pay mortgage servicers $500 up front and $250 a year for three years for successfully modifying a second mortgage, such as a home equity loan.
Second mortgages have complicated government efforts to help borrower Read more
Will The Obama Making Home Affordable Program Help You?
February 14, 2010
President Barack Obama’s new mortgage relief plan, unveiled recently, aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes.
Still however, the million dollar question continues to linger in the minds of many homeowners. “Will it help me?”
Obama’s “Making Home Affordable” program is designed to wo Read more
My East Stroudsburg Mortgage Calculations Never Stop
January 22, 2010
No, we are not talking about you going on and on with your East Stroudsburg mortgage calculations (using mortgage payment calculators from all websites) and, as a result, not reaching any decision on your mortgage. Here we are talking about the mortgage calculations after you have got your East Stroudsburg mortgage and have moved into your new house (with a smile, of course).
Since mortgages are governed by home mortgage rates and Read more
Distressed Homeowners Fighting Back With Forensic Loan Audits
January 14, 2010
Washington, DC – November 6, 2008. National Loan Audits announced today that troubled homeowners with adjustable rate mortgages who are having trouble getting their loans modified or who are behind with their payments and in danger of losing their home, now have access to Forensic Loan Audits, performed by mortgage industry experts, to discover if their lender violated the Truth in Lending Act or made any errors while preparing their closing do Read more
Pocono Mortgage Calculations
December 20, 2009
Correct mortgage calculations are essential before you finally select a mortgage offer. Well, in fact, mortgage calculations should be performed even before you start looking for a house.
These mortgage calculations, which you perform before even looking for a house, are related to affordability. For example, if you were looking to mortgage a house in Pocono, you would need to consider the going rate of properties in Pocono and che Read more
Mortgage Loan Modification Assistance – How to Modify My Loan
December 17, 2009
The home loan industry has changed stated income loans requirements if you don’t know yet. Most lenders now want full documentation loans and borrowers qualifying by using traditional debt to income ratio calculations. This directly affects the high cost housing markets like California, Florida, and the tri-state area of New York, New Jersey, Connecticut as well as parts of Maryland, Virginia, and Massachusetts. The reason is a lot of homeowner Read more
What loan modification agreement do for you ?
March 27, 2009
With loan modification agreement can keep your home out of foreclosure, because it all happens when a lender agrees to change the terms of yo current loan making the payment affordable.
Loan modification means that a lot of lender and finance company offer to help people that near foreclosure or having problem keeping p with the mortgage payments.
As a result of the current economy, more people that ever before are being forced to look for ways to avoid losing their homes. With the rising economic crisis, it is not uncommon that homeowners find it hard to pay their mortgages. And they confuse to finish their bill.
The best place to begin the process of home loan modification is with your current lender. The federal government also introduced a home loan modification program for homeowners that have lost their jobs or have had a steep payment increase. Read more