mortgage relief - Articles

Banks Modify Home Loans, Reduce Rates for 300,000

By Les Christie More than 300,000 homeowners have received $26 billion in relief under the big foreclosure abuse settlement reached earlier this year, according to a recent government report. Five of the country's largest mortgage lenders have modified home loans, reduced interest rates or forgiven debt as part of a... Continue Reading »

Hurricane Sandy Mortgage Relief: Fannie Mae, Freddie Mac and FHA Offer Disaster Aid to Storm Victims

Government-sponsored mortgage backers Freddie Mac, Fannie Mae and the Federal Housing Administration are offering mortgage relief to some borrowers whose homes were damaged by Hurricane Sandy, the superstorm that has crippled communities across the Northeast. The relief is available to borrowers whose homes were damaged... Continue Reading »

Why Millions May Be Leaving Mortgage Assistance on the Table

After John DeMetro suffered a debilitating arm injury on the job in 2005, he began to slip on paying his mortgage. Though Walmart, his employer at the time, paid for the 19 surgeries and 2½ years of therapy that it took for him to recover, DeMetro, of Utica, N.Y., said that he could no longer work enough hours to... Continue Reading »

3 Bills Could Bring More Mortgage Relief

Three bills intended to increase homeowner refinancing were introduced this week by Democratic senators -- bills that HUD Secretary Shaun Donovan said are "a win, win, win and something that we think can gain real bipartisan support very quickly and get passed." The bills, if passed, would complete President Barack... Continue Reading »

HARP 2.0: Do You Now Qualify for Mortgage Relief?

By Alison Paoli The HARP 2.0 refinance program will become widely available to underwater homeowners today and is expected to bring mortgage relief to those who are current on their home loan, but have been unable to refinance into today's historically low mortgage rates because of their negative equity status. The full... Continue Reading »

Unemployed to Get Year's Break on Paying Some Mortgages

Loan servicers collecting payments on FHA-backed loans must allow qualified borrowers who lose their jobs to miss up to a year of mortgage payments before starting foreclosure proceedings against them, the Obama administration announced Thursday. The FHA's current three to four months of required unemployment forbearance... Continue Reading »

Mortgage Relief, or More Delay?

According to a draft proposal obtained by the Wall Street Journal and some others, the Treasury Dept. is toying with the idea of giving distressed homeowners 30 days to respond to a mortgage lender after being turned down for a mortgage modification---you know, the type most folks haven't been able to obtain... Continue Reading »

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