California's budget issue hits CalHFA loans, GMAC weighs in on restructured loans - uh oh

Is it a safe bet to say that, rates in the short term will be choppy as the market adjusts to all this news, but then slowly trending lower Somewhat but the downside is limited, since short term Treasury rates are already near 0%. Yes, mortgage rates seem to be taking a pause in the high 4's or low 5's, and given historical rates should be lower. And there continues to be that pesky problem that in 2008 the darned borrower and property actually have to qualify to make their payments¦ And

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Things I'd Like to Post About Today!

But I Don't Have Any Time For: Must-Read of the Day The Op-Ed the New York Times Wouldn't Run: An FBI informants response to Bill Ayers rewriting of history (in the NY Times) got the cold shoulder but you can read it here. Ayers's respectability in media and educational circles is unforgivable. Rich Karlgaard observes that Capital is on strike now.¦.. (on the second page of the link) It goes on strike when it is attacked or when the rules are unclear. Attacks? Evil oil companies

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Stop Foreclosure Using the Law

Here's an idea some people have never thought about. In some cases, you can use the law to help you stop your mortgage foreclosure; but you need to know what your options are and what you are looking for. Your best bet is to contact a real estate attorney to look at the foreclosure documents you received from your lender; as well as the loan origination documents that you signed at closing for any mistakes. The Truth in Lending Act may be the perfect ally for you to stop mortgage foreclosure

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Loan Modification with Saxon

We are renting out this house. We are having trouble with our tenant and we put up our property for sale but we're afraid that this will not be sold with her still in it. She will be ending her lease with us on October and without a rental income after that, we are not able to keep the property and afraid that we would not have any choice

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UPDATE 2-JPMorgan halts foreclosures, modifies mortgages

UPDATE 2-JPMorgan halts foreclosures, modifies mortgages November 1st, 2008 NEW YORK, Oct 31 (Reuters) - JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz),the nations largest bank and one of its biggest mortgagelenders, temporarily halted foreclosures on Friday and offeredto renegotiate a swathe of mortgages. The global credit crisis, which began with subprimemortgages, increasingly appears to be affecting a wider range of consumer loans and, according to a report publish...

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Saxon Loan Modification Help

I was out of work on medical leave for 9 months. Had payment plan sent up to get caught back up. They said I was late and now will not except any payments. Started the loan modification process and now case manager will not return calls or answer(voice mail box is full) call back is all I get. As the time goes by and I just more behind. Please help

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Loan Modification with Washington Mutual

I was laid off in Aug and did not get called back to work until a year later. It caused us to fall behind. We are making our monthly payments since I was called back to work but do not have the cash to make up the missed payments we contacted Washington Mutual for a loan modification but were denied. I was told by my neighbor that you helped her

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AUDITORS, CREDIT REPAIR, LOAN MODIFICATION ETC.

For the most part they are operating either illegally or unethically but there are an increasing number of firms that are playing by the rules and actually helping their clients. beware-of-credit-repair-firms-but-dont-throw-the-baby-out-with-the-bathwater DISCLOSURE: I must disclose both an agenda and an interest here. Having been disappointed by the results or conduct of many supposed audit or loss mitigation or loan modification firms, either because they gave out bad advice, were engaged in

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Saxon Denied my loan modification

i have this property in New Jersey and had moved to North Carolina but things didn't work out as plan with the job and family. right now i'm back and forward between both state do to that i have a contract with the job in North Carolina and don't have the money to pay them back if i break the contract. I'm not getting all my hours at work and been

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JPMorgan Chase Announces $110 Billion Loan Modification Program

JPMorgan Chase Announces $110 Billion Loan Modification Program Posted under Home Loan News JPMorgan Chase & Co. (JPM) the largest U.S. bank by market value, plans to offer $110 billion in loan modifications of mortgages with plans to expand its modification program within the next 90 days to help 400,000 homeowners avoid foreclosure. In addition, Chase plans to forgo foreclosure proceedings on all real-estate loans while the changes are [...] Principle Reductions: Wipe Out Your 2nd

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Can I Get a Loan Modification If I Am Not Behind

I lost my job last September because of the economic slowdown and we haven't really been able to get on our feet since then. I recently had to have a pacemaker for my heart and am not able to look for a job yet. We have tried to get Litton Loan Serv. to help us to get a loan modification but all they say is that we have to wait until our ARM reset

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Will the Hope For Homeowners Program help?

Reineri, you are correct the money needs to go directly toward assisting homeowners with the toxic mortgages. One of the issues is the tip toeing around the new disgruntled group, the homeowners that kept it safe and bought what they could afford and got a vanilla (conventional 30 year fixed). They are thinking and now speaking out that because the read more | digg story will the Hope For Homeowners Program help? Loan Modification - Loan Modification Help

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Investors Sue Countrywide and B of A is Surprised

Investors Sue Countrywide and B of A is Surprised Investors filed a lawsuit in New York State Supreme Court in Manhattan on Monday over the recent predatory lending settlement that Countrywide parent, Bank of America had agreed to in October with 11 state attorney generals. The lawsuit was filed by Greenwich Financial Services Distressed Mortgage Fund 3 LLC and QED LLC, two Connecticut limited liability companies that purchased the securities. The suit claims investors are not objecting

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Lenders Calling Moratoriums On Foreclosure?

Following the lead of Freddie Mac and Fannie Mae, lenders across the country are jumping on the foreclosure moratorium bandwagon. This is accompanied by calls for moratoriums in the states of Connecticut, Florida and California. Protests by community groups have sprung up across the country demanding this relief. In California, Governor Schwartzenegger and several legislative leaders are proposing a 90 to 120 day stop to all foreclosures in the state. In Connecticut, Governor M. Jodi Rell p

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National Association of Mortgage Processors Predicts Mortgage Loan Modifications Will Sky Rocket

November 16 2008 - With many mortgage lenders and banks nationwide feeling pressure to help home owners stay in the their homes Loan Modifications are becoming more and more popular. Over the last several months lenders are pressed to offer Loan Modifications as way to help suffering borrowers prevent losing their homes. NAMP in partnership with Mortgage University has created a quick and cost-effective solution to learn how to perform loan modifications. With mortgage loan modifications on th

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How Foreclosures Should Be Dealt With

Foreclosures are ordinary occurrences. Thousands of people lose their homes to foreclosures and every year, it seems that the number of people facing such problem gradually increases. Typical as it may seem however, foreclosures are not pleasant events. Aside from the fact that it will render many Americans homeless, it also involves pile of paperwork and tedious process that involves legal, marketing, and sales aspects. As such, the federal government points out that modifying the structur

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Know Who to Trust when Suffering from Foreclosure

Know Who to Trust when Suffering from Foreclosure December 1st, 2008 Banks and non-profit organization offer services to property owners with foreclosure troubles, but they are just too busy with the accumulated existing foreclosures. So, homeowner Salvador Ruiz sought help from a company who asked for $8,950. And now after four months of waiting for his non-moving renegotiation, he is filing a case with the Department of Real Estate of California (DRE). He is currently with Home Resoluti

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Chase Loan Modification

We have helped many homeowners stop foreclosure with Chase. We use all types of workout options but the one that works best is the Loan Modification with Chase. If you are facing foreclosure contact us today. Below are homeowners that need foreclosure help we have helped. __________________________________________________ __________ We live in San Jose California, my husband lost his job few months ago, we stretched the mortgage payment to our neck.* Although we are not behind our payment yet

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Beware of Loan Modification Scams

Beware of Loan Modification Scams November 26, 2008, 1:01 am A loan modification is when a lender modifies your current mortgage to work with you because of personal economical hardship. If you are facing foreclosure, a modification can make your home more affordable. This solution will be some form of a rate reduction and conversion of an adjustable rate mortgage to a fixed loan, usually 30 years fixed. Today a lot of people are advertising themselves as loan modification specialists. These

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Loan Modification Package - Hardship Letter example

Phoenix AZ real estate and Scottsdale real estate has been declining in value. As a result, lenders have been less willing to loan money to refinance homes. Thus, foreclosures numbers are rising and banks are taking possession of real estate called lender owned real estate (REO). In order to combat growing inventory of bank owned homes, banks have established (with some pressure from our Federal government) loss mitigation programs to keep borrowers in their homes and stop foreclosure.

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Go read some of Tanta's mortgage-wonkery classics

On the sad occasion of the death of Doris "Tanta" Dungey, I've been hunting through her classic collection of Compleat Ubernerd posts about the mortgage business for some commemorative excerpts. But the whole point of these long, mostly brilliant essays on the workings of REMICs, TACs, PACs, CDOs, ABSes and the like is that they are almost unexcerptable. Still, I can't resist. This little passage from a post titled Leverage, Ratings and Forced Unwind is about structured mortgage securities:

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Mortgages And Bankruptcy

by hilzoy A bankruptcy judge in the Washington Post: "Homeowners are the only ones who cannot modify the terms of their secured debts in bankruptcy. Corporate America flocks to bankruptcy courts to do precisely this -- to restructure and reamortize loans whose conditions they find onerous or can no longer meet. Airlines are still flying and auto parts makers still operating because they have used this powerful tool of the bankruptcy process. Lehman Brothers will surely invoke it. But when th

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O.C. house prices seen rising in 2013

Fed plan should stem credit card crunch Lenders did booming business in stressed counties Nominate an O.C. business owner for Holiday Spirit Zippys: Newport Coast takes O.C. housing's biggest fall Bankrupt retailer starts liquidation for O.C. store How far is a just steps to the beach? Calif. unemployment extension checks delayed until mid-Dec. Burn area homeowners should consider flood insurance And more mortgage news… O.C. house prices seen rising in 2013 Rebuttal to Fed plan Paying yo

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Debt Rattle, November 30 2008: How to Build a Lifeboat

National Photo Co. Mack Sennett Girl 1919. Actress Marvel Rea, one of film producer Mack Sennett's well-rounded "bathing girls" Stoneleigh: Yesterday we talked about why we are facing deflation and today I wanted to review and explain the suggestions we have made previously for dealing with a deflationary scenario. In short, this is the list we have run periodically since we started TAE (with one addition at the end): 1) Hold no debt (for most people this means renting) 2) Hold cash and

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Secretary Paulson Remarks on the U.S. Economy and Financial System

December 1, 2008 U.S. Department of Justice Press Release: Secretary Paulson Remarks on the U.S. Economy and Financial System Washington- Good afternoon. Thank you for the opportunity to provide an update on the current state of the U.S. economy, our implementation of the financial rescue package and strategies for use of the remaining TARP funds. Today we continue to work through a severe financial crisis. While we are making progress, the journey ahead will continue to be a difficult on

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There is no benefit to Short Sales !

I love talk radio. I listen to news, political and business talk radio all the time. On Saturday (today), local talk radio shows are more prevalent as they take over the air-waves that are mostly made of nationally syndicated talk radio shows during the business week. Today, As I was driving home from breakfast this morning, I was listening to financial show talk radio. Much of the conversation was about the Phoenix real estate market. Topics ranged from Phoenix real estate prices, mortgage le

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Introduction to this astounding history by T. W. Hughes

Or do you think you don't need to know how the Money Power came to be our masters using puppet presidents? More reassuring to them than their control of nuclear and biological weapons or weaponized clandestine weather modification or asymmetrical monetary and credit warfare and monopoly power is there security in you not knowing that they exist and are steering events. This short history of their key actions in the 19th and early 20th centuries deprives them of that defense. This is the st

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Foreclosure help by a loan modification

To have a foreclosed property is a nightmare. In most cases, it is part of a series of devastating events. A sudden loss of job could spark a chain of these unfortunate events. To lose your home during these occasions would be very damaging, to say the least. This nightmare has undoubtedly increased the number of sleepless nights for homeowner. Despite all measures to prevent a foreclosure, some unexpected things may come along the way, draining you of all the resources necessary to pay for the

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Is It Time For A New Second Mortgage

If You Get A Call From Your Mortgage Lender Mortgage Company Federal and State laws are on the side of those who are in the unfortunate state of receving harassing creditor calls, progressing beyond the normal range of decency and respectability as long as a collection agency is the one at hand, not the original creditor. Most people are totally ignorant on how credit and the creditors work, which supports the theory that not having enough knowledge on your rights can do you great harm. Stopp

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Mr Mortgage: In-Depth Look at Mortgage Rates 5.5% Does Not Exist For Most

I hope that you had a great Thanksgiving - now its time to talk about mortgages. Rates Are Not That Low For Most - Nowhere Near "Historic Lows" Rates are not as low as the Wall Street analysts and media would have you believe. They are nowhere near historic lows that's for certain. They speak of mortgage rates as a static and generic thing that going forward will remain at levels that will fix all of the housing markets woes. However, in in reality mortgage rates swing wildly from da

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Thinking Outside the Box

Because of the credit crisis we are losing many would be buyers (wbb) of real estate. Many have lost their jobs. Many others can no longer qualify for a mortgage for a number of reasons; the guidelines have become stricter, wbb have not been able to pay their current mortgage on time so they have a credit blemish, wbb cannot sell their current residence to buy up or buy down.There are a number of reasons why the number of wbb is shrinking. The days of planting a "FOR SALE" sign in the dirt i

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Can the Hope for Homeowners program help me?

I live in Loveland, Colorado and I was engaged to be married and one day I came home an all his belongings were gone. This means I no longer receive 850.00 monthly anymore. I want to keep my home and can make the payments I am just requesting a 40 year loan or a lower rate. I have Ocwen and am getting nowhere. They say they want to help but I think read more | digg story If you need foreclosure help with Ocwen contact us now. We have helped many homeowners stop foreclosure with a loan modifica

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IndyMac As The Model For A Mortgage Turnaround

IndyMac As The Model For A Mortgage Turnaround ABC News reports that the US Treasury is looking at a new proposal from the FDIC to insure mortgages. Lenders would modify loans and in exchange those loans would be insured. More: FDIC chairwoman Sheila Bair touted the benefits of loan guarantees and loan modifications. The government, she said, "could establish standards for loan modifications and provide guarantees for loans meeting those standards. By doing so, unaffordable loans co

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Why Should You Defend Against the Foreclosure Lawsuit?

Why Should You Defend Against the Foreclosure Lawsuit? November 13, 2008, 11:02 am Every step of the process of owning a home and being foreclosed, from applying for the financing to being served with an eviction notice, is heavily regulated by the federal and state governments. While all of these laws are ostensibly designed to protect consumers and homeowners from lenders, the large amount of paperwork these laws create serve mostly to confuse borrowers and allow fraudulent bankers to prey o

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FDIC Plan Tests Limits of Leniency

NOVEMBER 1, 2008By MICHAEL M. PHILLIPS and RUTH SIMONANTIOCH, Calif. -- When the Federal Deposit Insurance Corp. seized control of IndyMac Bancorp -- the nation's 10th-largest mortgage lender by loan volume -- the agency vowed to ease terms for many of its troubled borrowers. In doing so, the FDIC wanted to show the mortgage industry how it could slash home foreclosures by making decisions both sensible and humane.The new entity, called IndyMac Federal Bank, has become a laboratory test of wheth

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There Are No Secret Deals

There Are No Secret Deals Here are some tips from the book Foreclosure Myths: If you have found a foreclosure, others can find it too. There are no unexploited economic opportunities. That's one of the basics of micro-economic analysis that I learned at college. Developing valuable information takes time and requires that you tap experts. Deal with people you trust. Consider going partners on a deal. When you begin, be an information sponge. Soak up everything. You don't have

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Washington's $5 Trillion Tab

Elizabeth Moyer, 11.12.08, 5:15 PM ET For all the fury over Treasury Secretary Henry Paulson's $700 billion emergency economic relief fund, it seems downright puny when compared to the running total of the government's response to the credit crisis. According to CreditSights, a research firm in New York and London, the U.S. government has put itself on the hook for some $5 trillion, so far, in an attempt to arrest a collapse of the financial system. The estimate includes many of the var

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The Sliding Mortgage

The Sliding Mortgage Jack Cummings writes the book Real Estate Finance & Investment Manual: The sliding mortgage technique is when you slide a mortgage from one property to another. In essence, you replace the security to the debt with another asset. By moving that specific debt from one property, you are substituting collateral. The new collateral may be other real estate or some other asset. One situation would be when you want to assume a favorable existing mortgage because of its

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Peter Schiff, The Humpty Dumpty Economy

Yesterday’s commentary by Peter Schiff is a must read. In “The Humpty Dumpty Economy“, Schiff suggests that Treasury Secretary Henry Paulsen is both a liar and incompetent. He explains the moral hazard, or unintended consequences of all this new regulation. Before the current economic crisis became apparent to all, the most popular fable used to describe America’s uncanny economic resiliency was the story of Goldilocks. It was argued that our economy was skipping down a sunny path of moderate

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Perspectives on the latest Fannie/Freddie homeowner rescue plan - by Peter Schiff.

Perspectives on the latest Fannie/Freddie homeowner rescue plan - by Peter Schiff. Nov 16, 2008 U.S Hot Stocks Leave a comment No doubt prodded by the administration, Fannie Mae and Freddie Mac announced a new attempt to stop the fall in home prices and foreclosures through a loan modification program that would cap mortgage payments so that a homeowner’s total housing expenses would not exceed 38% of household income for home owners who are 90 days delinquent. In a classic case of unintended

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Are You an Idiot to Keep Paying Your Mortgage?

In today's "You've Got to be Kidding Me" moment, the San Francisco Chronicle advocated that folks who owe more on their mortgages than their homes are worth should stop making payments so they can qualify for a government bailout. I'm not kidding. Disgustingly titled "Are You an Idiot to Keep Paying Your Mortgage," the article actually instructed readers upside-down in their real estate the ins and outs of how they can transfer responsibility for their own investment mistakes to others (emphasi

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Mr Mortgage: NO-SPIN October CA Foreclosure Report

he default and foreclosure scene in CA remains a mess. And now due to SB1137 that went into effect in early Sept and a yet new proposal that Schwarzenegger is pumping, performing meaningful analysis is difficult for most. However, due to my proprietary data and research I am able to shed a little light not available elsewhere on the happenings. SB1137 recap- CA Foreclosures Fall 90% Problem Solved? No Way! Given the interruptions that Schwarzenegger's efforts have caused, I have included man

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You are an idiot for paying your mortgage.

Nation: As pointed out by Kathleen Pender in the San Fran Chronicle, people who don't can game the upcoming welfare handouts. Should you keep paying your mortgage? If you have significant equity in your home, absolutely. If you don't, it's getting harder to answer that question, especially when our government keeps giving people who owe more than their homes are worth so many reasons not to pay. Last week, the government announced a program that will substantially lower payments for many hom

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The Humpty Dumpty Economy

by Peter Schiff November 16, 2008 Before the current economic crisis became apparent to all, the most popular fable used to describe America's uncanny economic resiliency was the story of Goldilocks. It was argued that our economy was skipping down a sunny path of moderate growth, low inflation and rising asset prices. However, a much better parable for our economy over the last decade would have been the story of Humpty Dumpty: a bloated, fragile shell perched on the top of a dangerously hig

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Should You Keep Paying Your Mortgage?

If you have significant equity in your home, absolutely. If you don't, it's getting harder to answer that question, especially when our government keeps giving people who owe more than their homes are worth so many reasons not to pay. Last week, the government announced a program that will substantially lower payments for many homeowners who have little or no equity, but only if they are at least 90 days delinquent. Critics say the plan, which applies to loans owned or guaranteed by governme

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Using A Fixed Rate Mortgage To Better Benefit Your Finances

by Chris Channing If you are seeking stability, then there is little that is more stable than a fixed rate mortgage. These loans have a set interest rate that does not change over the course of the loan. Unlike many other loans and mortgages, these are set in stone unless you modify them. Other mortgages change often due to interest fluctuation, which can be a problem for you and your finances. Interest rates are generally steady, but they do experience unpredictable rises, as well as lovely i

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Thus does Big Mother make gonophs of us all: How to keep your house by taking taxpayers for a ride

This is choice, from the San Francisco Chronicle: To qualify, you must be at least 90 days delinquent and live in the home as your primary residence. You must owe at least 90 percent of the home's value. It's fine if you owe more than it's worth. Your mortgage must be owned or guaranteed by Fannie Mae and Freddie Mac or held by one of the participating loan companies. If you meet these requirements and can document your income, your servicer will reduce your monthly mortgage payment - include

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Lenders Don't Want To Be In The Real Estate Business

Lenders Don't Want To Be In The Real Estate Business Here are some tips from the book Foreclosure Myths: Lenders are legally required to not be in the real estate business. Lenders just want to lend. They want to make loans and collect fees and payments. You can negotiate with lenders to get deals on REO properties. Whenever you bid for a property, no matter if it is at an auction or making an offer to a homeowner, you should decide on the maximum price you'll pay for the property

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On JP Morgan's "Mass Mods" for Residential Mortgages

In a move the stock market greeted with considerable cheer, JP Morgan announced that it was widening its program to modify mortgages. From the New York Times: JPMorgan Chase became the latest big bank to pledge to cut monthly payments, by lowering interest rates and temporarily reducing loan balances for as many as 400,000 homeowners. Early in October, Bank of America, which acquired the large lender Countrywide, announced a similar effort aimed at 400,000 borrowers as part of a settlement with

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DIY Loan Modification Kit

Sponsored Post: DIY Loan Modification Kit Posted by: admin in mortgage industry This is a sponsored review for Cody Sperber's Do-It-Yourself Loan Modification Kit from ForeclosureCounseling.com. If you're interested in having a review of your product or service written here on Blown Mortgage click here for more information or email me directly. Cody Sperber's DIY Loan Modification eBook is a solid primer for anyone who is looking to brave the loan modification world themselves. If you

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One in five homeowners with mortgages under water

One in five homeowners with mortgages under water November 1st, 2008 By Jonathan Stempel NEW YORK (Reuters) - Nearly one in five U.S. mortgage borrowers owe more to lenders than their homes are worth, and the rate may soon approach one in four as housing prices fall and the economy weakens, a report on Friday shows. About 7.63 million properties, or 18 percent, had negative equity in September, and another 2.1 million will follow if home prices fall another 5 percent, according to a report b

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Massive Effort to Save Mortgages

NOVEMBER 1, 2008 WSJBy ROBIN SIDELJ.P. Morgan Chase & Co. launched an ambitious plan Friday to modify the terms of $70 billion in mortgages for borrowers who are behind on their payments or soon could be.The move by the New York bank will cover as many as 400,000 borrowers. They'll be moved into loans carrying lower interest rates, smaller principal amounts or other more-affordable terms.The changes will particularly focus on a type of loan structured in such a way that the borrower's outstandin

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JPM Chase - Major Mortgage Loan Default Spike

As part of my day job at Field Check Group, Real Estate & Finance we analyze the entire housing & mortgage universe including extremely granular mortgage default and foreclosure data by lender, not available to most. While Chase's mortgage modification announcement today makes a whole lot of sense from the stand point of ridding themselves of WaMu's toxic Pay Option and Subprime loans at a better price than bulking them to the highest bidder, Chase has some problems with their own past

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Upside-down Mortgage? Look into a Mortgage Loan Modification

by Bradley Marmer Foreclosure is the process by which the lender regains the property that they have originally financed. Generally, this is due to the homeowner or borrower being behind on payments and unable to catch up. Naturally, when a foreclosure occurs, the homeowner must move out of the house, losing possession of all property and losing the equity that they have built up over time. Also, there is generally some damages inflicted to the credit rating of the borrower as well. Considering

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IndyMac is calling. Will you answer?

The L.A. Times goes out front today with the story of the difficulty IndyMac is having in its efforts to reach troubled borrowers to talk about loan modifications. (Hey, if I had lied about my income to get a mortgage, and a government-run bank wanted to talk to me about said mortgage, I probably wouldn't answer the phone either.) Seriously: ...when the FDIC, which is running IndyMac, mailed out 35,000 letters offering homeowners a chance to rework the terms of their mortgages, more than half

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Not Bothering To Respond To A Refinance Offer From IndyMac

Not Bothering To Respond To A Refinance Offer From IndyMac Here's the model that the FDIC head lauded but many of its own borrowers seem unimpressed. How are you going to assist borrowers if you can't get them to hear you? If they won't respond to your offers? The FDIC took over IndyMac in July. From the Los Angeles Times: The Federal Deposit Insurance Corp.'s program to lower loan payments for struggling borrowers with mortgages from IndyMac Bank has been lauded by consumer advoca

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Debt Rattle, November 1 2008: Cold Turkey

Lewis Wickes Hine Toter April 1913 Columbus, Georgia. Eagle and Phoenix Mill. Hine: A 'dinner-toter' waiting for the gate to open. This is carried on more in Columbus than in any other city I know, and by smaller children. Many of them are paid by the week for doing it, and carry sometimes 10 or more meals a day. They go around in the mill, often help tend to the machines, which often run at noon, and so learn the work. A teacher told me the mothers expect the children to learn this way, lon

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A Hint Of The Nightmare To Come

“For four years the Neal family called a two-family house in New Haven, home. The Neals have had their house on the market for a year and a half. They’re frustrated but patient. They understand this is a tough time to sell. ‘You’re seeing more and more houses that are in the inventory — I mean there’s tons and tons of inventory,’ Neal said. ‘Everywhere you look there’s a house for sale.’”

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Benefits of a Loan Modification

A Loan Modification offers distressed homeowners relief from un-affordable payments by modifying the terms of their loan to a lower interest rate, longer term or reduction of principle. This is a good solution to help avoid foreclosure and keep families in their homes.

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Welcome to Loan Modification 101

My hope is to share some helpful info on loan modifications.