Archive for the 'Loan Modification' Category

Combine a Loan Modification and Debt Settlement to Lower Bills

As credit card companies continue to increase rates and violate their customers, debt settlement or debt management is becoming more popular. Debt settlement is the procedure of eliminating a portion of the debt and entering into a repayment plan that will get you out of debt in just a matter of months or years. Most […]

Information to Get You Started on Modifying Your Mortgage

When you are looking at a possible foreclosure, the last thing you want is another disingenuous plan of action that results in little to no monetary help for your situation. Luckily, loan modification options do not fall into this category. Before you delve too far into the process of altering your home mortgage, you surely […]

Decrease Your Bills, Then Modify Your Loan

When you are facing foreclosure, a great help to your unstable financial situation is the possibility of obtaining a mortgage modification. This is when the original terms of the mortgage on your property are altered so you can make more affordable payments on time. Naturally, for this to become a reality, both you and the […]

How to Negotiate for a Mortgage Modification to Save Your Home

During a time when national foreclosure rates are through the roof, you may be looking for ways to halt foreclosure so you can keep that roof over your head. Usually, the process of foreclosure does not begin until you have incurred three periods of nonpayment on your mortgage. If you see this becoming a reality […]

Issues to Consider Before Getting a Mortgage Modification

Obtaining a loan modification is the latest magical solution to foreclosure. One new government program after another has been released to help borrowers modify the terms of their mortgages to make them more affordable, and thousands of private companies have begun to offer assistance in qualifying for a loan mod. Obviously, if everyone who can […]

How Lenders Help Sabotage Government Loan Modifications

The government’s programs to help stop the foreclosure crisis were probably started with the best of intention. Good intentions, however, can not cover for economic ignorance and an unwillingness to face the facts of the housing market. Prices are declining and more people are facing foreclosure due to the poor lending decisions created by cheap […]

A Few Ideas to Get Foreclosure Help from Your Lender

Homeowners should keep in mind that the bank or mortgage servicer they are dealing with is 100% able to stop the foreclosure whenever they want. Especially if the borrowers are in a judicial foreclosure state, where it is required the bank begin a lawsuit to take the home back, if the lender/individual drops the case, […]

Loan Modifications - More Rare than Advertised

For mortgage lenders, there is every incentive to negotiate with homeowners for a mortgage modification or other solution that will prevent foreclosure. Thus, the very few number of borrowers who end up receiving any help should surprise everyone. If banks and servicers have so many reasons to offer loss mitigation options to homeowners, why do […]

The Federal Home Affordable Modification Program

In 2009, the Congress and the Obama administration revealed their newest plan to help families save their homes from foreclosure by encouraging mortgage modifications. This plan, called the Home Affordable Modification Program (HAMP) was designed to create broad guidelines for the mortgage industry on modifying loans, as well as provide incentives to lenders and services […]

Attorneys Engaging in Loan Modification and Foreclosure Scams

There is an amazing story in the August 2009 issue of the California Bar Journal about the growing number of complaints against lawyers and law firms offering mortgage help to homeowners. From investigating nine such complaints for all of 2008, the California State Bar is now investigating 391 complaints against 140 attorneys. What is causing […]

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