Posts with tag loan modification

So it appears that some Congress-critters are agitating about the utter failure that is the suite of government loan modification programs. House Republicans want to repeal the Home Affordable Mortgage Program (HAMP), calling it a "colossal failure". Home Affordable Foreclosure Alternatives (HAFA), a sub-program, is also... Continue Reading »

Foreclosure preventions were a leading priority when the Obama administration committed $50 billion in aid to troubled homeowners at the start of 2009. But as of October, the Treasury Department had spent only $600 million on the government's mortgage modification program, a mere drop in the bucket when compared to the... Continue Reading »

Last year was difficult for Adline Peck and her husband. Peck, who lives in Inkster, Mich. was battling medical issues, and her husband had been laid off from work. Though they struggled to make their monthly mortgage payments, they continued to try their best, even if it meant sending in payments a week or two late.... Continue Reading »

In 2010 an estimated 4 million homes will be slapped with foreclosure notices, making it the worst year yet for foreclosures during the housing crisis. And without a strong economic recovery the numbers could continue to escalate, leaving more Americans unable to afford their homes. One way to turn back the tide is with... Continue Reading »

You might think a vulture is the least likely creature to help you save your home. But there's a group of vultures who are doing just that -- in fact, they're being more of a friend, to many homeowners in trouble, than banks are. One of them, mortgage-bond trader Lewis Ranieri, has developed a method to keep troubled... Continue Reading »