Bank of (everything in) America becomes the first bank to SAY it will forgive part of the balance owed on a mortgage to help homeowners avoid foreclosure. Not that they are in any rush, the program does not start until May. You must qualify under the
Search Results for: 2008 mortgage modifications
Foreclosure Crisis Deepening
American homeowners now $745 billion underwater on their mortgages, according to First American CoreLogic. Sounds low to me. 2.8 million properties foreclosed in 2009. And the trend? Bound to get even worse. Record high default rate now, as over 13% of
Download PDF Version Government Claims Its Mortgage Modification Program Is Working
Paul Goodman of the N. Y. Times reports that the government says its mortgage modification program is working! Knock me over with a feather. Of course, the government mortgage modification plan, is where they pay the mortgage servicers to enter into ...
Download PDF Version What Are The Chances Of A Mortgage Modification Working?
Bad, because the mortgage company is not likely to give you a modification that really helps you! Professor Alan M. White of Valparaiso Law School has studied the modifications actually granted in 2008, and the results are not surprising to me, but give the lie to those who think the industry will agree to meaningful
Download PDF Version Are Mortgage Modifications Working?
Mortgage modifications are not living up to the hype created by, well, the mortgage companies. My friend April Charney, of Jacksonville FL legal aid, has been the leader in the fight for consumers and in forcing mortgage companies to prove they have the right to foreclose. With permission, I reprint an email from her on this: Summarized below ...
Download PDF Version Can I Get A Mortgage Modification?
Not likely, but maybe. The official statistics on mortgage loan modifications for the last quarter of 2008 have been released y the Office of the Comptroller of the Currency and Office of Thrift Supervision. Not a rosy picture. First, have all your ducks ...
Download PDF Version 
