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? addthis_url = ‘http%3A%2F%2Fwww.michiganmortgageattorney.com%2Fhow-is-hamp-working%2F’; addthis_title = ‘How+is+HAMP+Working%3F’; addthis_pub = ”;
Category Archives: mortgage modification
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 addthis_url = ‘http%3A%2F%2Fwww.michiganmortgageattorney.com%2Fwoman-evicted-after-mortgage-modification%2F’; addthis_title = ‘Woman+Evicted+AFTER+Mortgage+Modification’; addthis_pub = ”;
California Crackdown On Mortgage Modification Scams
We have all heard the radio, and seen the internet ads, we can save your house, our experts know whom to contact in the back office, we stop foreclosures, and so on. California Attorney General Brown has ordered dozens of the companies in California making such claims to put up or shut up. I expect…
Countrywide Loses Lawsuit
You might think I would like Countrywide losing a lawsuit. However investors in trusts securitized by mortgages do not want Countrywide to be able to modify mortgages, so, as Gretchen Morgenson writes in a New York Times article, this is a bad result for those who need mortgage modifications. Countrywide Loses Lawsuit addthis_url = ‘http%3A%2F%2Fwww.michiganmortgageattorney.com%2Fcountrywide-loses-lawsuit%2F’;…
Fannie Mae Squeezes Flagstar For NOT Being Aggressive
Hey, we thought the government was here to help us! Just last month, the Obama administration had all the mortgage servicers in DC to bang their heads to do more modifications. According to Bradley Keoun and Jody Shenn of Bloomberg, Fannie Mae wants “experts” to service the loans Fannie Mae loans 90 days in default…
Unemployment Worsens Foreclosure Crisis
Foreclosures are moving through prime mortgages, as people who had good mortgages, and good jobs, cannot pay when they lose that good job Renae Merle reports in the Washington Post. My remedy? Judicial mortgage modification. addthis_url = ‘http%3A%2F%2Fwww.michiganmortgageattorney.com%2Funemployment-worsens-foreclosure-crisis%2F’; addthis_title = ‘Unemployment+Worsens+Foreclosure+Crisis’; addthis_pub = ”;
Can I Get A Mortgage Modification From National City?
If you do, you will be the 5th person to get one. According to Shaheen Samavati of the Cleveland Plain Dealer, only 4 out of 37,000 modifications requested have been granted. In fairness, they just signed on for the program in July, and claim they have done thousands of mortgage modifications on their own. Can…
When Will The Value Of My Home Go Up Again?
Deutsche Bank analysts predict another 14% decline in home values. Which means that an astonishing 48% of U.S. homes, with mortgages, will be worth LESS than what is owed on them by April, 2011. There is no way more foreclosures can be avoided if this is true, other than: Judicial Mortgage Modification When Will The…
What Did They Know, And When Did They Know It?
Mortgage companies, of course. A class action suit has been filed by Gary Klein in Massachussettes, as reported by Jenifer McKim in the Boston Globe. The suit alleges hundreds of homeowners were put into toxic mortgages that were doomed to fail. I know many homeowners I talked to, having fully disclosed their finances, assumed they…
Are Voluntary Mortgage Modifications Working?
As many of my posts show, I do not think so. The Government report states that less than 10% of loans eligible for mortgage modification have actually been modified, as reported by Andrea Fuller in the New York Times. Most of these modifications are in default again after 6 months. I think many of the…
