Loan Modification Explosion
Your guide to loan modification News
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01/03/2010 Winning the trial, losing your house WASHINGTON (MarketWatch) — Question: I have also made trial payments under the Making Home Affordable program. But my house truly was in foreclosure and I spoke with an attorney. Your advice in your column is wrong. They can foreclose, they will foreclose, and they are foreclosing on thousands of people who have made their trial [...] more info |
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01/03/2010 Mortgage foreclosures still swamping federal efforts to help Banks and other lenders are still foreclosing on Americans’ homes at a rate that’s outpacing the Obama administration’s main effort to stem the crisis. In fact, while the Treasury Department’s Home Affordable Modification Program, or HAMP, has started the mortgage modification process on almost 760,000 homeowners who are at risk of losing their homes, less than [...] more info |
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12/08/2009 Failures Cripple Obama Loan Modification Program Executives of two of the nation’s largest banks, Chase and Bank of America, testified in Congress this morning that as many as 85 percent of delinquent mortgages are failing the Administration’s loan modification process because homeowners haven’t made trial payments or have failed to supply the necessary documentation to support their claims. In the case of [...] more info |
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12/01/2009 Option ARMs: Housing recovery killer? An explosion of foreclosures will result from option ARMs set to reset to higher payments. NEW YORK (CNNMoney.com) — Option-ARMs: File under, “It sounded good at the time.” These exotic mortgages allowed homebuyers to come to closing with little cash and choose, monthly, how much to pay: interest and principal, interest only, or a minimum amount less [...] more info |
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11/29/2009 Why Short Sales and Modifications Take So Long — and What to Do About It Q: I went under contract to buy a house six months ago. This is a short sale, and I understand that multiple lenders are involved. But I have been more than patient. What can I do? I can’t seem to get anyone to listen to me. Don’t the banks want this to work out? A: I’m sure [...] more info |
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11/23/2009 Foreclosure Forecast For 2010 With housing values still falling in much of nation, the rate of mortgage abandonment has reached nearly 25%. To make matters worse, delinquencies continuing to climb at alarming levels, and given the current pace, Housing Predictor is projecting that there will be more than 17 million foreclosures over the next five years. While foreclosures pose [...] more info |
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11/23/2009 Renters becoming latest victims as foreclosure crisis widens NEW YORK — A new wave of foreclosures stands to hurt people who may have never taken out a mortgage: renters. In cities such as New York, Chicago and Los Angeles, where many investors are carrying upside-down mortgages on large rental buildings, some tenants are watching their homes fall apart along with the financing. Janeia Sandiford, [...] more info |
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11/23/2009 Area posts high rate of mortgage delinquencies Mississippi leads nation, with 14.4% behind on payments; Alabama ranks ninth, with 11.06% Sunday, November 22, 2009 Staff Report Mississippi led the country, and Alabama had the ninth-highest rate for residential loan delinquencies in the third quarter of 2009, according to the Mortgage Bankers Association. The delinquency rate for residential mortgage loans was 14.4 percent in Mississippi and 11.06 [...] more info |
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11/15/2009 Fannie Mae rolls out new tool for homeowners facing foreclosure The Federal National Mortgage Association — better known by its nickname Fannie Mae — recently announced a new tool intended to keep people facing foreclosure in their homes. Fannie Mae calls this program Deed-for-Lease, and it is sufficiently proud of the program that it claims a trademark on the name. The new program, at least in [...] more info |
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11/15/2009 Austin-area foreclosures hit high for the decade AMERICAN-STATESMAN STAFF Saturday, November 14, 2009 Lenders posted more than 14,000 Austin-area residential and commercial properties for foreclosure this year, up 57 percent from 2008 and the highest number in a decade. The postings are continuing evidence of an economic downturn that has cost thousands of Texans their homes and led to foreclosures and bankruptcies of major office [...] more info |
Bankrate.com: Today's new stories
All the new personal finance stories of the day
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09/29/2009 What the Fed said: A translation Here is a translation of the Federal Reserve's surprise rate policy statement. more info |
HUD Press Releases
Latest HUD Press Releases
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08/26/2010 ON THE ROAD FROM RECOVERY TO REVITALIZATION Five years ago, one of the most destructive natural disasters in our nation's history hit the Gulf Coast. When they hit the coasts of Louisiana and Mississippi, Hurricanes Katrina and Rita took thousands of lives, displaced millions of residents, wiped out hundreds of square miles of coastal land, and inflicted major damage to nearly 300,000 homes. more info |
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08/26/2010 HUD AWARDS $312 MILLION IN DISASTER RECOVERY GRANTS TO HELP STATES REDUCE DAMAGES FROM FUTURE DISASTERS WASHINGTON - U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan today awarded nearly $312 million to 13 states to invest in efforts to reduce the human, physical, and economic toll of future disasters. The grants announced today are provided through HUD's Disaster Recovery Enhancement Fund (DREF) and are intended to encourage states to undertake activities and long-term strategies that focus on reducing damages from future natural disasters. more info |
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08/25/2010 HUD ANNOUNCES $189 MILLION AVAILABLE TO REVITALIZE COMMUNITIES WASHINGTON - The U.S. Department of Housing and Urban Development announced today that it is making $189 million in grants available to transform public and assisted housing and to revitalize communities. Appearing in today's Federal Register are the Notices of Funding Availability, the federal application, for two revitalization initiatives: The Choice Neighborhoods FY 2010 and the HOPE VI FY 2010. Both applications can be accessed at www.grants.gov. more info |
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12/31/1969 HUD CHARGES NORTHEAST OHIO LANDLORD WITH HOUSING DISCRIMINATION WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) today announced that it is charging Testa Family Enterprises, LTD, owner of Royal Arms Apartments in Ravenna, Ohio, and the complex's manager with housing discrimination for allegedly refusing to rent certain apartments to families with young children. HUD's charge alleges that manager Christine Testa and Testa Family Enterprises, LTD, violated the Fair Housing Act by limiting or refusing to rent to families with small children. more info |
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08/31/2010 DONOVAN ANNOUNCES $65 MILLION IN AVAILABLE FUNDING TO SUPPORT COMMUNITY DEVELOPMENT IN INDIAN COUNTRY SIOUX FALLS, SD - U.S. Housing and Urban Development Secretary Shaun Donovan traveled to a Native American community in South Dakota today to announce $65 million in available funding to support a variety of community development and affordable housing production in Indian country throughout the U.S. Donovan made the announcement following a tour of the Rosebud Reservation in South Dakota with Senator Tim Johnson. more info |
Bankrate.com: Mortgage Matters
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07/19/2009 Mortgage mods for profit Mortgage rates have held fairly steady since the middle of last week. more info |
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07/16/2009 A successful MHA refi A note, sent yesterday, from a reader named Matthew. more info |
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07/15/2009 Wrong-headed regulators I have an article up today -- "Want to refinance? Know the details" -- in which I describe the Home Affordable Refinance program as confusing. more info |
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07/13/2009 Rate trends and firecrackers A reader named Cindy asks: "Are mortgage rates predicted to go down next week? What things should I be considering before going ahead?" more info |
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07/12/2009 Foreclosures? Let 'em rent In response to my blog post from last week, "Theodicy and mortgages," Michael Hilmen writes about artificially high home prices. more info |
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©2003 National Housing Group • 888-299-3394 • info@nationalhousinggroup.com
National Housing Group is a marketing division of Legal Housing Group. The content in this website is for informational purposes only. National Housing Group’s website/services are not a substitute for the advice of an attorney. National Housing Group is not engaged in rendering legal services and the information or reports disseminated through the use of its website/services may not be construed as legal advice; nor is National Housing Group a credit repair organization. For clients of National Housing Group that require legal advice, including loan modification services, clients may be referred to the Legal Housing Group or another duly licensed law firm. National Housing Group is not sponsored by or affiliated with any government authority or agency.