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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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7 April 2011
The bad news is that fewer mortgage loan modifications were granted to financially pressed borrowers in February.The good news is that fewer homeowners needed them.
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8 March 2011
Mandatory loan modifications and a fund to help reduce the principal on underwater loans are part of the price the nation's state attorneys general are seeking from mortgage servicers for settling the robo-signing controversy.
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3 March 2011
The Making Home Affordable anti-foreclosure program has been widely criticized for falling short of expectations, but it seems to have reached a sort of equilibrium recently.
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11 February 2011
All four of California's "Hardest Hit Fund" anti-foreclosure programs are now operational, the state has announced, but only two have substantial participation from the nation's largest lenders.
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8 February 2011
The $7.5 billion allocated by the feds to 18 states and the District of Columbia for mortgage assistance programs is looking like more of a circus than a godsend.
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22 January 2011
An organization of mortgage investors is calling for a new approach to foreclosure prevention, expressing a willingness to write off mortgage principal as part of a comprehensive approach to restructuring a consumer's entire debt load.
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19 January 2011
The Federal Housing Finance Agency (FHFA) has asked Fannie Mae and Freddie Mac to help develop a new system for compensating lenders who manage mortgage accounts, in the wake of complaints that the current system can actually promote foreclosures.
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11 January 2011
Starting today, unemployed California homeowners can apply for up to $3,000 a month in mortgage assistance to tide them over for up to six months while looking for work.
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22 December 2010
In a reversal of recent trends, the number of loan modifications granted under the government's Home Affordable Modification Program (HAMP) rose in November, in a bit of good news for both homeowners and the Obama administration's much-criticized anti-foreclosure program.
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8 December 2010
Jay Leno called it ironic that "we pick politicians by how they look on TV, and Miss America on where she stands on the issues." Every selection process has its quirks, including a mortgage loan modification.
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8 December 2010
The Obama administration is pressing Fannie Mae and Freddie Mac to participate in a new program designed to reduce mortgage debt for homeowners who owe more than their property is worth, the Wall Street Journal is reporting.
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17 November 2010
The "robo-signing" foreclosure documentation scandal could make it easier for financially distressed homeowners to get a loan modification - if it doesn't throw a wrench into the entire process first.
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27 September 2010
President Obama's mortgage modification program has reached out to distressed homeowners, but it's left many of them with nothing but broken promises.
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23 September 2010
The number of homeowners receiving permanent loan modifications under the government's Making Home Affordable Program continued to shrink in August, even as the number of new admissions to the program ticked upward for the first time in nearly a year.
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26 August 2010
When a tornado veers towards your neighborhood, you must choose the course of action with the fewest negative consequences.Generally, this means grabbing some canned foods and heading for the basement.The same rule applies when you can't keep up with your mortgage payments.
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24 June 2010
The Obama Administration has authorized the release of $1.5 billion for foreclosure prevention efforts in the five states hardest hit by the housing crisis, beginning almost immediately.
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16 April 2010
Mortgage audits are a strategy that's growing in popularity as a way for financially pressed homeowners to avoid foreclosure.
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25 March 2010
Bank of America (BofA) will forgive up to 30 percent of the balance owed on certain at-risk mortgages as part of its loan modification efforts to assist homeowners in avoiding foreclosure, the bank has announced.
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