Posts with tag mortgage modifications

"Why won't the bank just reduce the amount of my loan instead of taking my home and then selling it to someone else for way less than I would have been happy to pay?" It's a question that gets asked repeatedly these days, especially by people who are facing foreclosure or are upside down on their mortgages. Continue Reading »

Since California passed its new law mandating how lawyers can be paid for helping with mortgage modifications, Californians are finding it difficult to get assistance. Charles Martin used his 19 months of fighting for a mortgage modification for his own home in California to learn the ropes and now helps others, not only... Continue Reading »

Saving your home from foreclosure with a mortgage modification has gotten much harder in California in recent months. The reason is a law passed by the State Legislature in September 2009 prohibiting lawyers from collecting any fees related to mortgage modifications from clients until the related work is finished. The law... Continue Reading »

Some good news from Debt City, U.S.A.: The rate of serious delinquencies on conventional mortgages -- those that are at least 90 days behind -- fell to 4.82 percent in July, from 4.99 percent in June. Freddie Mac's delinquency rate dropped to 3.83 percent in August, from 3.89 percent in July. Fannie Mae's delinquency rate... Continue Reading »

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 »