Archive for the 'Loan Modification' Category

Step by Step - Sheriff’s Sale Process

Most states in the US have their own legal processes when it comes to how a sheriffs sale can work. If you are facing foreclosure or sheriffs sale, it is a good idea to contact your lender or local attorney to be clear on how the process works in the state of your property. This […]

LOAN MODIFICATION - Step by Step

Loan modification is becoming more and more common for homeowners who are behind on payments or facing foreclosure. The American government has taken a very active role in attempting to stabilize the housing market. The Obama administration has encouraged banks and lenders to be as accommodating as ever to work with struggling borrowers who are […]

Never Too Late to Repair Your Credit Part II

If you have missed mortgage payments or are facing foreclosure, it is not too late to consolidate your bills and get back on track.  It might seem hard to imagine getting out from under the burden of debt that has accumulated, but there is always an option that can help repair your credit. 
There are […]

Refinancing During a Loan Modification

Loan modification is the process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). Many American homeowners today are behind on payments or facing foreclosure.  Banks more than ever are offering loan modifications to help restructure loans in […]

Understanding A Non-Performing Mortgage

A nonperforming loan is one that is in default or just about to be.  People who are facing foreclosure that have missed their mortgage payment for three months would now be considered in default.  When you have a nonperforming loan the payments will be past due by 90 days, or 90 days of interest payments […]

Foreclosure Workout and Mortgage Modification under Obama

The new Obama administration has taken drastic measures to help struggling homeowners modify existing loans that may be in or going into default.  Those suffering hardships, experiencing declines in household incomes or rising expenses, rising interest rates, high mortgage debt to income ratios, owing more to the lender than the home is worth or going […]

Foreclosure and Loan Modification What You Need To Know

A loan modification is something you may apply for if you are facing foreclosure.  It is a change in the terms of a loan, usually the interest rate, payment or term; making the payment more affordable for you and helping avoid foreclosure.  There are certain steps you need to take and things to consider before […]

Foreclosure: Facts and Fiction

How many times have other people told you certain things which just weren’t true?  You may have even believed them for some time, because they said it so convincingly.  But after doing some research of your own, you realized they were completely wrong.  It could have been about anything: who won the World Series in […]

Mortgage Options When Facing Foreclosure

When facing foreclosure one of the first things most people consider doing is to look for is to restructure their mortgage.  This a great option to try and do if you meet the minimum requirements; otherwise you’ll just be wasting your time when there may be better solutions for you to avoid foreclosure.
With the ever-increasing […]

Can Government Really Help Save Your Home from Foreclosure?

One of the most amazing images of the past few days upon the election of Barack Obama to be president of the United States was of a woman crying and stating that now she would not have to worry about gasoline prices or having to pay her bills. But if everyone is expecting the government […]

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