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Foreclosure Assistance Ads Unveiled

Wed, 12 Dec 2012 18:45:19 +0000

Federal officials are launching a new ad campaign to raise awareness of the assistance that may be available to financially stressed homeowners through the Making Home Affordable Program (MHA).

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Obama to Replace DeMarco Soon?

Tue, 11 Dec 2012 20:43:06 +0000

President Obama is expected to move quickly in the New Year to replace controversial FHFA Acting Director Edward DeMarco, a move that could clear the way for increased principal reductions for underwater homeowners.

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HAMP Share of Loan Mods Shrinking

Tue, 06 Nov 2012 17:51:11 +0000

Mortgage servicers are granting more private loan modifications to financially stressed homeowners than they did one year ago, even as they’re scaling back on modifications performed under the federal Home Affordable Modification Program (HAMP).

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FHFA Says No to Principal Reductions

Wed, 01 Aug 2012 19:51:37 +0000

A proposal to help struggling homeowners by writing off some of the principal on their underwater mortgages has been rejected by the head of the agency that oversees Fannie Mae and Freddie Mac.

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The New HAMP Loan Mod Guidelines

Fri, 08 Jun 2012 23:22:45 +0000

New rules that recently took effect are giving financially pressed homeowners a fresh opportunity to qualify for a HAMP loan modification.

The changes ease restrictions on borrower debt limits to qualify for the government-backed mortgage assistance program, and while opening it up to owners of investment properties as well. Some borrowers may even be able to get part of their mortgage forgiven by their lender.

Borrowers can even qualify if they were previously approved for a HAMP loan modification, but were unable to keep up with the payments.

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Fewer Loan Modifications Approved

Mon, 07 May 2012 16:05:27 +0000

The number of homeowners obtaining mortgage loan modifications has dropped by nearly one-third over the past year, falling faster than the decline in mortgage delinquencies and foreclosures. 

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Loan Modifications for a Second Lien

Sat, 07 Apr 2012 03:05:17 +0000

Second mortgages can be a major problem for homeowners seeking mortgage relief through a loan modification or refinance. Fortunately, help is available through the federal Making Home Affordable program (MHA). 

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BofA May Trim Mortgage Debt for Some

Tue, 13 Mar 2012 02:34:47 +0000

Some underwater borrowers could see their mortgage balances reduced by an average of $100,000, thanks to an agreement reportedly reached between Bank of America and government officials.

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$26B Foreclosure Settlement Reached

Thu, 09 Feb 2012 18:17:00 +0000

A $26 billion settlement that would fund loan modifications and mortgage refinancing for at-risk homeowners was announced today by state and federal officials.

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HAMP Expanded to Rentals, 2nd Liens

Tue, 31 Jan 2012 17:40:09 +0000

Owners of rental properties and homeowners burdened by secondary expenses are now eligible for mortgage relief under a new expansion of the Home Affordable Modification Program (HAMP).

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