Apr 24th 2012 12:10PM
By Les Christie NEW YORK -- Tamera Hewlett-Vallejo and her husband, Tom, came within a whisker of losing their Sacramento, Calif., home in a foreclosure auction last month. But as a result of the $26 billion national mortgage settlement, the Vallejos were given a last-minute reprieve. Their mortgage lender, Bank of... Continue Reading »
Dec 13th 2011 7:00AM
Here comes another black eye for the Fed's much-maligned mortgage modification program. Housingwire reporter Jon Prior has crunched the numbers and found that the Home Affordable Modification Program (HAMP) is most effective when it actually reduces the principal owed on upside-down mortgages, not just extending borrowers'... Continue Reading »
Nov 11th 2011 9:30AM
California expanded its $2 billion program to help homeowners avoid foreclosure to those with second homes as well. The California Housing Finance Agency established the four Keep Your Home programs using money from the Treasury Department's $7.6 billion Hardest Hit Fund. Before, borrowers were restricted from... Continue Reading »
Sep 1st 2011 1:30PM
We asked, you answered. AOL Real Estate's post on the idea that banks should be forced to offer principal loan reductions on underwater mortgages brought an avalanche of comments, including some calling for a grassroots revolution. One reader suggested, "Perhaps EVERYONE should STOP paying their mortgages for a year, not... Continue Reading »
Mar 26th 2010 10:29AM
It's as good as official: Home Affordable Modification Program, the year-old government program to save homeowners from foreclosure, is a flop. Today, the Obama administration is set to announce new aid for many homeowners in trouble, who have been beyond help under the limited rules of the old HAMP program. Using $14... Continue Reading »
