Dec 13th 2012 1:00PM
The housing market has been slowly recovering for most of the year, but the fact remains that millions of Americans are still underwater when it comes to what they owe on their mortgage versus the value of their home. As such, many may be looking for some relief, and scammers are now preying on that need. In recent weeks,... Continue Reading »
Mar 26th 2012 10:45AM
By Jon Prior Freddie Mac CEO Charles "Ed" Haldeman gave a strong signal Friday that new incentives from the Treasury Department may be enough to start principal reduction on mortgages backed by the government-sponsored enterprises. In January, the Treasury said it would triple incentive payments to mortgage investors who... Continue Reading »
Dec 13th 2011 7:00AM
Here comes another black eye for the Fed's much-maligned mortgage modification program. Housingwire reporter Jon Prior has crunched the numbers and found that the Home Affordable Modification Program (HAMP) is most effective when it actually reduces the principal owed on upside-down mortgages, not just extending borrowers'... Continue Reading »
Nov 17th 2011 4:15PM
The federal government has shut down 85 alleged online loan modification scams, and secured the cooperation of Google to stop the purportedly false advertising by those web operations. The government agency responsible for supervising the use of Troubled Asset Relief Program (TARP) funds recently targeted businesses that... Continue Reading »
Oct 25th 2011 11:00AM
WASHINGTON -- Today's record-low mortgage rates are out of reach for millions of U.S. homeowners who would benefit from them most. One in four homeowners with a mortgage -- 11 million people -- owe more than their home is worth. These "underwater" borrowers have virtually no shot at refinancing. Their plight is a drag on... Continue Reading »
