Articles by Subject

HOPE NOW Boasts 1 Million Mortgage Loan Modifications in 2008, Promises More in 2009

By:
Bill Rice - MortgageLoan.com | 12/31/2008 - 1:58am

Nearly 3 million homeowners will enjoy Christmas in their own homes this year because of the cooperation and programs of the HOPE NOW program. HOPE NOW closes out 2008 with nearly 1 million in loan modifications. This alliance created an unprecedented effort by private mortgage servicers, counselors, and investors to stem the rising tide of foreclosures.

Modified Mortgage Refinances Continue to Re-default

By:
Bill Rice - MortgageLoan.com | 12/26/2008 - 1:24am

US bank regulators continue to report escalating re-default rates on mortgage loan modifications. Data being assembled by bank regulators is showing a steady trend of rising month-over-month loan work-outs falling back into delinquency within six months.

Loan Modifications may only be a Bandage for Foreclosures

By:
Tom Kerr - MortgageLoan.com | 12/24/2008 - 1:04am

Many critics-especially those who stand to lose money when mortgage restructuring occurs-say that loan modifications may only be delaying inevitable foreclosures. They argue that loan modification can mask problems temporarily, but can't make those troubles go away.

Controversy Brews over FDIC Debt and Bank Guarantee Plans

By:
Tom Kerr - MortgageLoan.com | 12/13/2008 - 1:10am

Major banks, including Citigroup, Wells Fargo, JPMorgan Chase, and Bank of America, recently told the government that the FDIC program to back their bonds is not a strong enough guarantee. They want unconditional support; but the FDIC wants a more regulated and controlled bailout.

Bank Regulators Reporting Mortgage Loan Modifications Still Defaulting

By:
Bill Rice - MortgageLoan.com | 12/09/2008 - 1:06am

Bank regulators and congressional leaders are still at a loss on how to help troubled homeowners. A surprising report by the Office of the Comptroller of the Currency (OCC) revealed 51 percent of borrowers receiving modifications to their mortgage loans become delinquent or slip back into foreclosure within 6 months.