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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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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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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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29 January 2010
The Treasury Department is simplifying and standardizing key documents needed to apply for loan modifications under the government's Home Affordable Modification Program (HAMP), in hopes of speeding approvals for homeowners seeking mortgage relief.
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22 January 2010
A task force of state attorneys general and banking regulators is calling for principal reductions on "underwater" mortgages in order to stem foreclosures in areas that have experienced steep declines in housing values.
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15 January 2010
What are some of the main reasons people are turned down for loan modifications? Aside from the obvious - like not enough income to maintain even a modified payment schedule - there are any number of less apparent reasons that can trip up someone who otherwise might be able to...
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5 January 2010
Mortgage loan modifications have been big news lately.Unfortunately, that's largely because of all the difficulties homeowners are having getting one.What can you do to improve your odds of being approved?.
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29 December 2009
The combination of falling incomes and home values has many homeowners seeking loan modifications to lower their monthly mortgage payments.And while saving money is always a good thing, some may wonder - are there any downsides to getting a loan modification?.
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21 December 2009
A new online service to help homeowners submit and track the documents needed for a government-backed mortgage loan modification has been launched by HOPE NOW, a coalition of mortgage companies and credit counseling agencies.
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9 December 2009
Are you one of the lucky ones who's been able to lower your monthly mortgage bills through the government's Making Home Affordable (MHA) Program? Well, you may not be out of the woods just yet - lenders are reporting that large numbers of borrowers who obtained trial loan modifications under...
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23 November 2009
The following are additional resources that homeowners may turn to for assistance and information on mortgage loan modifications and related issues.
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23 November 2009
On legal matters, a borrower’s most reliable source of information is always to consult with an attorney who is knowledgeable about real estate and mortgage law.However, the following is general overview of some of the relevant legal issues.
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23 November 2009
Borrowers who are unable to obtain a loan modification or refinancing have other options which can either stop or avoid the foreclosure process.
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23 November 2009
What is the success rate of loan modifications?.
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23 November 2009
Loan modification services are companies that homeowners hire in order to help them negotiate a loan modification with their lender or servicer.
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23 November 2009
Below is a list of nonprofit organizations that can offer assistance to homeowners looking to start the mortgage modification process, but who may be unsure as to where to start.
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