Posts with tag mortgage modifications

While some seem to think that all the Obama administration is doing is extending or delaying foreclosure procedures, others believe that, without these extensions, home prices would have fallen much further, much faster. Whatever you believe, the numbers seem to indicate that mortgage default and re-default rates are... 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 »

Are you stuck with high mortgage interest, but think you can't refinance because you owe more than the house is worth? You may still be able to qualify for a Fannie Mae Refi Plus loan. You can get a refi for up to 125 percent of your home's value. That means if the current market value is $200,000, you can get a mortgage... Continue Reading »

Good intentions count, but cash is definitely better. The Treasury Department reported that fewer borrowers are receiving permanent mortgage modifications through the Obama administration's program to aid troubled homeowners. Some 530,000 homeowners, or 40 percent of 1.3 million enrolled in the HAMP program, have had their... Continue Reading »

Frustrated by the efforts of the federal government, New York City comptroller John C. Liu, pictured left, and six unions will initiate a campaign today to encourage big lenders to increase measures to prevent foreclosures in the New York metropolitan area, according to The New York Times. In a letter drafted by the group,... Continue Reading »