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 [...]
Category Archives: mortgage modification
Mortgage Modifications And Credit Scores
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.
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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 trial modification periods, three months long.
If all those payments are made on time, they might extend [...]
Can I Get A Short Sale On My Home?
Not if George Soros has anything to say about it.
The Mandelman Matters blog has a great post detailing with how our government, through the FDIC, helps the rich get richer and hurts homeowners who want to stay in their homes.
How?
We all see the FDIC taking over more and more banks.
Debts, like mortgages, owed to a [...]
Can Filing Bankruptcy Help Me Keep My House?
Of course it can! Chapter 13 bankruptcy allows you to lien strip, or avoid, a second mortgage lien.
It also allows you up to five years to catch up with payments on a first mortgage.
Do mortgage companies want you to know this!
Hell no!
Robert Doggett, on the ForeclosureBuzz.org blog, has examined many of the government and [...]
Why Can’t I Get A Mortgage Modification?
Well, because the mortgage companies think they can make more money by foreclosing on you.
Seems they are as good at calculating that as they were in deciding who would get mortgage money.
The “secret” government formula does explain why it is impossible to predict who will get a modification and who will not, [...]
Congressional Hearings On HAMP
I hate to bet on Congress getting anything right, but, if they do, these hearings will show the failure of the government mortgage modification programs.
Congressional Hearings On HAMP
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Judicial Mortgage Modification, Second Chance?
Relief through voluntary mortgage modification is largely an illusion, fostered by the mortgage industry to prevent real reform.
Judicial mortgage modification refers to changing Chapter 13 law to allow a bankruptcy judge to re-write the first mortgage on a residence, by lowering the balance on the mortgage to the value of the home.
That is all the [...]
How is HAMP Working?
Not.
CNN reports mortgage servicers continue to give homeowners the run-around on the Home Affordable Modification Program.
To beat the drum again, what is needed is judicial mortgage modification, it will not be done voluntarily.
How is HAMP Working?
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Woman Evicted AFTER Mortgage Modification
Even getting a mortgage modification, and making the payments, does not insure that mortgage company will not try to take your house back.
Ooops, WAMU sold a home by mistake, after accepting the first payment on the modification agreement.
Woman Evicted AFTER Mortgage Modification
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