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13 May 2015
Qualified homeowners are getting an extra year to reduce their mortgage payments through the federal HARP and HAMP initiatives, now that the deadlines for both programs have been extended by the Federal Housing Finance Agency (FHFA).
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11 May 2015
Did you take out a home equity line of credit in the last eight or nine years? Then you better prepare for a higher monthly payment -- maybe one that is as much as two times higher than what you're paying today.
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10 October 2014
The following is a compilation of some important mortgage news developments from recent years.
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2 September 2014
Does the thought of paying your mortgage bill each month keep you awake at night? Do you toss and turn worrying about whether you'll have enough money to send to the electric company this month?.
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23 July 2014
Struggling to make your mortgage payments each month? Worried that your lender is preparing to start the foreclosure process? You might be able to save your home -- and reduce your monthly mortgage payments at the same time -- with the help of your state government.
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15 July 2014
Underwater homeowners, homebuyers and distressed borrowers are expected to share in a little more than one-third of a reported $7 billion settlement that Citibank has agreed to pay to resolve claims regarding defective mortgages it sold to investors in the years prior to the recession.
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11 April 2014
Shopping for a mortgage can involve a steep learning curve.For many, it's a strange, new world of alien concepts and unfamiliar words.Adding to the confusion is that many of those concepts and words seem to be similar in meaning, but are actually quite different.
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26 December 2013
Mortgage borrowers who lose their homes to foreclosure or face financial difficulties due to being underwater on their loan could face another hit in 2014 - a big tax bill.
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14 December 2013
Changes at the top of federal bureaucracies often seem to have little effect on the average person.But this week's confirmation of former U.S.Rep.
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27 March 2013
Homeowners who have fallen behind on their Fannie Mae or Freddie Mac mortgages will be eligible for a new, simplified loan modification program beginning the summer, the Federal Housing Finance Agency (FHFA) has announced.
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13 March 2012
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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9 February 2012
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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13 December 2011
A handful of lucky homeowners have been able to reduce their mortgage debt by nearly one-third under a little-noticed provision of the government’s Home Affordable Modification Program (HAMP).
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3 December 2011
Can you get a loan modification on a jumbo mortgage? The answer is yes, but there are some significant differences from getting a mortgage modification on a conventional loan.
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3 November 2011
Fewer homeowners are being approved for the government's mortgage loan modification program these days, but those who are are doing much better than those who entered the program during its early phase.
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10 September 2011
In these tough financial times, a lot of homeowners are desperately trying to obtain a loan modification to make their mortgage more affordable.If you're one of them, here are a few things you need to look out for.
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7 September 2011
A 30-year-old Pennsylvania program could provide a model for helping unemployed homeowners avoid foreclosure, two New York Federal Reserve economists are urging.
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1 July 2011
Millions of U.S.homeowners have fallen at least two months behind on their mortgage payments, but fewer than one-quarter of them qualify for assistance under the government's main anti-foreclosure program, according to Treasury Department figures.
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13 June 2011
Before you decide to walk away from your mortgage, consider the real, long-term costs.
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7 May 2011
The pace of government-backed loan modifications picked up in March, with both new trials and permanent modifications approved under the Home Affordable Modification Program (HAMP) up significantly.
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