Jan 28th 2010 11:05AM
Relief for homeowners groaning under the weight of burdensome second mortgages is about to come from an unlikely source: Bank of America, which has been one of the most reluctant of the big lenders to modify first mortgages. After the Obama administration accelerated its efforts to persuade big banks to modify terms on... Continue Reading »
Jan 19th 2010 1:30PM
If you're one of the 787,231 people who now has a trial modification, you better be sure your paperwork gets completed on time. People whose deadline was December 31, 2009 received an extension until January 31, but the government says there will be no more extensions. The good news is that more people are successfully... Continue Reading »
Jan 19th 2010 11:55AM
The government may be making loud noises about how it wants to bring down home mortgage rates to help consumers. But the biggest beneficiaries of the government largess have been the banks -- not borrowers, according to a report in the Wall Street Journal. Backed by cushy government programs, banks have boosted their... Continue Reading »
Jan 18th 2010 11:00AM
Mortgage modifications were going to help up to four million Americans save their homes, remember? That was the claim of the Obama Administration when it announced its Making Home Affordable program in early 2009. Yet more than three million applications later, only about 100,000 mortgages have actually been modified under... Continue Reading »
