Operation Loan Lies, an excellent name for a task force looking at the con men victimizing people in fear of losing their homes, mortgage modification outfits.
Category Archives: mortgage modification
What Is the Chance Of My Mortgage Modification Working?
Bad, because they are not likely to give you a real modification, one that would reduce the principal, and reduce your payment for the life of the loan. Barry Ritholtz blogs on some devastating statistics on mortgage modifications.
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 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 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 ...
Download PDF Version Mortgage Modification Scam
Another mortgage scam blows up, this one with a California lawyer and his buddies guaranteeing mortgage modifications in 90 days, 90% success rate, and so on. California is no the only state in a recession, in which lawyers, among others, are resorting to unethical
Download PDF Version Mortgage Modifications And Credit Scores
So, if you were really lucky, and got a HAMP or other loan modification before falling behind on your payments, and you made all the modified payments on time, your credit report shows your mortgage as having always been current, right? WRONG! Not sure why software cannot be quickly modified for things like this, but, everything on ...
Download PDF Version Should I Keep My Home Because Home Values Have To Go Back Up?
New home sales up, good news for the economy, Chapter 7 bankruptcies will decline, fewer foreclosures caused by homeowners walking away from underwater homes, right? Not so fast. Government interference in the free market, in the form of the first time buyer tax credit, makes things look better ...
Download PDF Version Mortgage Servicers Will Have To Tell You Why You Were Denied HAMP Modification
HAMP Guidelines Changing This policy is not effective until January 1, 2010, but the Government is requesting that mortgage servicers start following it now. I have talked to many people confused about the whole process, and even more confused when they are denied without any explanation.
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 ...
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