Mortgage modification programs thus far not making a dent in foreclosures. The foreclosure crisis continues, though it may not be getting worse, foreclosure numbers are not getting better. Supposedly, 300,000 people have ...
Author Archives: Kurt O'Keefe
Strategic Defaults Increase
Default means, not keeping up your side of a contract, like, not making mortgage payments on time, which usually leads to a foreclosure. Strategic default refers to people who can afford ...
Download PDF Version Who Owns My Mortgage?
One problem for homeowners with Michigan foreclosure law is that mortgage companies can foreclose without going to court, by publication in the Legal News. In Florida and other states, foreclosure must be done through the state courts. This allows ...
Download PDF Version Foreclosure Still Not Helped by HAMP
The HAMP program is still not effectively helping homeowners avoid foreclosure. These statistics are for the 170,000 HAMP modifications already completed. There have been more than 450,000
Download PDF Version HAMP Mortgage Modification Changes
Thanks to Diane Thompson of the National Consumer Law Center for allowing me to use her email explanation of some of the HAMP Mortgage Modification Changes. It is reprinted below, with some revisions: HAMP Supp. Dir. ...
Download PDF Version Foreclosure Prevention Program Modified Again
HAMP has failed, but the White House has not given up, and announced a new foreclosure prevention program last week. HAMP has resulted in fewer than 200,000 permanent modifications, out ...
Download PDF Version Foreclosure Avoided By Mortgage Modification?
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
Download PDF Version HAMP Mortgage Modifications Quadrupled, Says Bank Of America
Bank Of America Says Quadrupled "permanent" HAMP Mortgage Modifications. Of course, it is easier to get big percentage gains when you start with small numbers. 3,200 permanent HAMP mortgage modifications was the starting number here, as of the end of 2009. No ...
Download PDF Version First HAMP, Now HAFA!
If you liked Home Affordable Modification Program, you will love Home Affordable Foreclosure Assistance! This plan (40 pages long) assists the mortgage companies in getting you out of your house, by short sale, or deed in lieu of foreclosure, ...
Download PDF Version Your Tax Dollars At Work
Bailout deals to make you puke. but, maybe false: >From the FDIC: FDIC Provides Additional Information on its Loss Share Agreement With OneWest Bank FDIC Director of Public Affairs Andrew Gray said, "It is unfortunate but necessary to respond to blatantly false claims in a web video that is ...
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