Tagged : modification 
There are currently 3 blog entries matching this tag.
How to Stop Foreclosure in Texas
Thursday, July 15th, 2010 at 6:56pm. 710 Views, 0 Comments.
If you have fallen behind on your mortgage payments, there are several options available to help stop foreclosure in Texas. Since you usually have about 70 days for a Texas foreclosure process, you have time to get back on track. It is important you contact your lender and take the necessary steps to put a plan in motion to stop foreclosure on your home.
Often, lenders would rather have payment than to go through the process of foreclosure. Contact your lender and try to come to a mutually agreeable payment plan. The lender is more likely to agree to your request if you have a valid reason for the default and a solid plan to get back on track. You may also be able to ask for a temporary deferment, or hold, on mortgage payments until you are in a better…
Has Obama's Home Modification Program Lived Up to its Promise?
Saturday, July 10th, 2010 at 2:20am. 649 Views, 3 Comments.
In March 2009, shortly after President Obama took office, an ambitious $75 billion federal program (Home Affordable Modification Program, or HAMP) was launched promising to help modify the mortgages of up to 4 million Americans who were struggling with their payments or facing foreclosure. The reality of the program has fallen far short.
Modification involves a lender actually changing the terms of a homeowner’s mortgage, often when borrowers would not qualify or could not afford refinancing. This is generally accomplished through some combination of lowering the interest rate, extending the length of the loan or - in a new addition to the federal program - reducing the amount of principal owed. By encouraging banks to modify more loans, the federal…
Top 3 Loan Modification Misconceptions
Monday, June 7th, 2010 at 4:09pm. 5332 Views, 24 Comments.
In its heyday the internet turned a great many novices into do it your self experts. Now, not everyone can manage this, and many who attempt to do so get burnt. This is because a great deal of the information floating around on the internet is not really put up by experts on the subject. Over enthusiastic bloggers, ill-informed journalists and penny a word article writers have flooded the cyber world with an incredible amount of data. A lot of the data is misleading or inaccurate – and at best not very helpful.
This is particularly true with the issue of loan modification. The ongoing economic crisis, with its record numbers of loan defaults and looming house loan foreclosures, has made this a subject dear to many hearts. Many defaulters anxious for a…
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