Posts with tag loan modifications

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 »

Just how much trouble are mortgage borrowers having with their loan servicers? These are the companies that send the monthly bills, foreclose when the payments don't come, and too often make it really hard for many borrowers to get loan modifications when they can't afford to keep up. According to New York State Banking... Continue Reading »

A couple of weeks ago, I wrote about the $1.5 billion in new Home Affordable Modification Program funds exclusively for states with the biggest home price drops: California, Florida, Nevada, and Arizona (Michigan somehow made it in, too). Now the Treasury Department has announced Part 2 of that project – another $600... Continue Reading »

If you've been following the ups and downs – mostly downs – of the federal Home Affordable Modification Program, you know that the HAMP has been one big bottleneck, with just a fraction of homeowners who apply succeeding in getting permanent modifications to their mortgages. Then two weeks ago the federal... Continue Reading »

While there was a decrease of 3 percent in the number of foreclosure filings reported in June from the previous month, and a 7 percent decrease from June 2009, the number of filings topped 300,000 for the 16th straight month. Foreclosure filings were reported on 313,841 U.S. properties in June, according to... Continue Reading »