The 31% Solution for Mortgage Modification
When I first got a place of my own, I was told that a week of income should cover my housing expenses. Today, the US Department of Housing and Urban…
When I first got a place of my own, I was told that a week of income should cover my housing expenses. Today, the US Department of Housing and Urban…
Yesterday the Federal Trade Commission, in a unanimous 4-0 vote sought to protect distressed mortgage borrowers from one of the biggest sources of fraud in the loan modification business, charging…
Despite a concerted effort by the Obama Administration with its Making Home Affordable Program to modify and refinance home loans, data released this week shows that only 9% of the…
When the carrot doesn’t work, apply the stick. On Monday, the Obama Administration started to enforce new rules to compel loan servicers into modifying more delinquent mortgages and converting the…
Unfortunately, some of the same people who got us into the mortgage crisis, are now posing as experts to get us out. At the height of the real estate bubble,…
On Friday, the US Treasury Department reported that by pressuring mortgage lenders, it has doubled the number of temporary loan modifications made permanent. As of December 30th, 66,465 distressed borrowers have…
Yesterday the Federal Trade Commission, in a unanimous 4-0 vote sought to protect distressed mortgage borrowers from one of the biggest sources of fraud in the loan modification business, charging…
The Obama Affordability Plan offers financial incentives to mortgage lenders to modify home loans until the Housing to Income Ratio (HTI) is down to 31% of a homeowner’s gross monthly…
From your perspective as a distressed homeowner with a jumbo loan, the task can seem daunting. You don’t qualify for the Obama Making Home Affordable plan. There’s a good chance…
Most programs developed by the Obama administration and mortgage lenders require the homeowner to demonstrate a ‘hardship’. A hardship is the term lenders use to differentiate between a homeowner whose…