Loan Modifications

6 Steps to Stabilize High-Foreclosure Neighborhoods

Miriam Axel-Lute | Posted 06.01.2012

Read More: Bank Loan Modification, Homebuying, Foreclosure Crisis, Foreclosure, Loan Modifications, Buying Homes, Loans, Money News
Miriam Axel-Lute

These steps are just a start, but the lessons from the financial crisis are clear as day. Will we learn from them, and let government do what we created it to do, or will we tumble back into the mess that got us here in the first place?

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Keep Your Home, California!

Anna Cuevas | Posted 05.10.2012

Read More: Save Your Home, Foreclosure Crisis, Loan Modifications, Anna Cuevas, Keep-Your-Home-California, Foreclosure, California Foreclosures, Keep Your Home California, Principle Reductions, Business News
Anna Cuevas

According to the U.S. Treasury Department, California has been one of the hardest hit among state foreclosure rates. That standing made the state elig...

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200,000 Homeowners to Receive Principal Reduction Offer From Bank of America

Anna Cuevas | Posted 05.09.2012

Read More: Mortgage Crisis, Bank of America, Mortgage Principal Reduction, Loan Modifications, Bofa, B of A, Principle-Reductions, Anna Cuevas, Money News
Anna Cuevas

As part of a $25 billion settlement agreement between the government and five major banks for fraudulent foreclosures, Bank of America agreed to $11 billion in mortgage principal reductions.

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Some Homeowners With BofA Loans May Get A Lucky Note In The Mail

AP | ALEX VEIGA | Posted 05.08.2012

Read More: Video, Loan Modifications, National Mortgage Deal, Bank of America Home Loan Modifications, Bank-of-America-Loan-Modifications, Bank of America Home Loans, National Mortgage Settlement, Housing Crisis, Business News

LOS ANGELES — Homeowners with a Bank of America mortgage have good reason to check their mailbox. The lender said Tuesday it has begun mailing ...

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Fannie Mae's Approval of Mortgage Principal Reductions Gets the Silent Treatment

Anna Cuevas | Posted 05.04.2012

Read More: Principal Reduction, Save Your Home, Hamp, Loan Modifications, Home Affordable Modification Program, Citibank, Fannie Mae, Foreclosure, Edward Demarco Fhfa, Fhfa, Money News
Anna Cuevas

Edward DeMarco, Acting Director of the FHFA, indicated that additional analysis would have to be performed to determine the long-term benefits of principal reductions.

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Foreclosures Spell Financial Demise for Latino Middle Class

Anna Cuevas | Posted 05.04.2012

Read More: National Council of La Raza, Foreclosure, Foreclosure Crisis, Loan Modifications, The Loan Mod Guru, Nclr, Latinos, Money News
Anna Cuevas

The crisis faced by Latino homeowners involves more than housing. With the majority of their wealth tied to their homes, foreclosed Latinos lose the equity needed for their future.

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Obama's New Mortgage Working Group Is Not Working

Anna Cuevas | Posted 05.03.2012

Read More: Askaloanmodguru, Foreclosure Crisis, Loan Modifications, Anna Cuevas, Mortgage Crisis, RMBS Working Group, Mortgage Working Group, Housing Crisis, Obama, Foreclosure, Mortgage-Backed Securities, Politics News
Anna Cuevas

While there is a pressing need for such an organization, there is also one problem. They haven't done anything. Not only have they not done anything, they also have no dedicated website, address, or telephone number.

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High Price of Foreclosure: Your Marriage

Anna Cuevas | Posted 05.02.2012

Read More: Loan Modification Guru, Foreclosure Crisis, Loan Modifications, Divorce, Anna Cuevas, Foreclosure, Loan Modifications and Divorce, Money News
Anna Cuevas

It's important to note that financial problems and stress are the underlying reasons behind many divorces -- and foreclosures can create both. In fact, money-related issues are the number one reason for divorce.

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IMF Lends Support to Loan Modifications Including Principle Reductions

Anna Cuevas | Posted 04.30.2012

Read More: Principal Reduction, Loan Modifications, Home Affordable Modification Program, Imf, Business News
Anna Cuevas

The IMF's public approval of mortgage reductions, as well as reform in the financial sector, is intended to provide support to the economy and reignite a healthy increase in lending, which will spur economic and job growth.

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2.3 Million Children Are Victims of Foreclosure

Anna Cuevas | Posted 04.24.2012

Read More: Foreclosures, Foreclosure Crisis, Foreclosure, Loan Modifications, The Loan Mod Guru, Anna Cueva, Home Foreclosures, Business News
Anna Cuevas

Of the 2.3 million children who have lost their homes to foreclosure, one out of every 10 have been negatively affected.

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Stories From the Frontline: Don't Drink the Yellow Kool-Aid

D. Sidney Potter | Posted 04.19.2012

Read More: Robo Signers, Mortgage, Tea Party, Wells Fargo, Banking, Mortgage Default, Big Banks, Bank of America, Mortgage Officers, Wall Street, Foreclosures, Loan Modifications, Greece, Alley, Whistleblowers, Business News
D. Sidney Potter

The banks' almost near-inability to properly staff qualified personnel was a part of the comedy of errors. As an example, some of it was lost in translation -- literally.

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Stories From the Frontline: Why Is Mortgage Aid, Hater-Aid?

D. Sidney Potter | Posted 04.16.2012

Read More: Robo Signers, Mortgage, Wells Fargo, Occupy Wall Street, Banking, Real Estate, Glass Steagall Act, Big Banks, Mortgage Default, JPMorgan Chase, Citibank, Foreclosures, Business News, New York Times, Loan Modifications, Whistleblower, Business News
D. Sidney Potter

Why is the banking industry -- for the most part, since I personally detest over generalizations, resistant to essentially doing the right thing and/or at least doing it in a timely matter?

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Mother, Disabled Daughter Forced Out Of Home Even After BofA Modification

Posted 04.13.2012

Read More: Foreclosure Fails, Hamp, Foreclosure Crisis, Video, Loan Modifications, Business News, Bank of America, Dirma Rodriguez, Bank of America Dirma Rodriguez, Bank of America Foreclosure Fails, Slidepollajax, Bank of America Foreclosures, Business News

A Los Angeles-area woman and her severely disabled daughter were forced to flee their home of 25 years in a matter of minutes, allegedly in large part...

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Stories From the Frontline: Robo Signers vs. The Silent Enemy

D. Sidney Potter | Posted 04.10.2012

Read More: Foreclosures, Citigroup, Whistleblower, Glass Steagall Act, Wells Fargo, Greg Smith, Big Banks, Goldman Sachs, JPMorgan Chase, Mortgage, Loan Modifications, Robo Signers, Occupy Wall Street, Banking, Bruce Marks, Mortgage Default, Real Estate, Greg Smith New York Times, Business News
D. Sidney Potter

As a former 1 percent member who got his backside kicked in the real estate "boom and bust" over the last decade, I'm officially a 99 percent member (misery loves company) -- and it's with unique privilege that I can report stories from the frontline.

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Bank Of America Tells Woman To Miss Mortgage Payments, Then Forecloses On Her House

The Huffington Post | Alexander Eichler | Posted 04.10.2012

Read More: Foreclosure Crisis, Mortgage Modification, Missed Mortgage Payment, Bank of America, Mortgage Crisis, Atlanta, Homeowners, Bofa, Occupy Atlanta, Occupy Movement, Pamela Flores, Mortgage Payments, Mortgages, Video, Loan Modifications, Occupy Wall Street, Foreclosure, Slidepollajax, Business News

Here's how Pamela Flores tells it: A couple years ago, she found that she couldn't keep making mortgage payments on her Atlanta house. She says she...

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Watchdog To Propose New Rules That Could Save Homes

AP | DEREK KRAVITZ | Posted 04.10.2012

Read More: Loan, Foreclosure Crisis, Congress, Robo-Signing, Payday Lenders, Borrowers, Homeowners, Mortgage Payments, Video, Loan Modifications, Consumer Financial Protection Bureau, Financial Crisis, Foreclosure, Housing Bubble, Business News

WASHINGTON — The federal government proposed new rules on Tuesday that will give homeowners more ways to avoid foreclosure and get an accurate a...

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Your Bank Forgave Your Mortgage Debt, but Will the IRS?

Anna Cuevas | Posted 05.19.2012

Read More: Foreclosures, Foreclosure Crisis, Foreclosure, Loan Modifications, Debt Cancellation, Hamp, Business News
Anna Cuevas

Does a homeowner have to pay taxes on mortgage debt that's been forgiven or canceled? Some reduced or canceled debts do have to be treated as income, but not all. It depends on their circumstances and the amount of debt.

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What To Know Before Refinancing Your Mortgage

Reuters | Posted 05.19.2012

Read More: Homeowner Tips, Loan Modifications, Freddie Mac, Reuters, Mortgage Crisis, Mortgage Rates, Fannie Mae, Refinancing, Homeowners, Mortgage Refinancing, Tips for Homeowners, Money News

By John Wasik March 16 (Reuters) - I got a letter from my bank the other day offering a streamlined refinancing deal for my current home mortg...

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Ben Hallman

Mortgage Settlement: The Deal That Divided The Democrats

HuffingtonPost.com | Ben Hallman | Posted 03.13.2012

Read More: Wells Fargo, Patrick Madigan, Bank of America, Gmac, Shaun Donovan, Home Foreclosures, Foreclosure Settlement, Tom Miller, JPMorgan Chase, Refinancings, Iowa Attorney General, Loan Modifications, Eric Schneiderman, George Jepsen, Financial Crisis, Foreclosure, National Mortgage Settlement, New York Attorney General, Citigroup, Business News

Top law enforcement officers from most of the 50 states gathered last week in Washington, D.C., for the annual spring meeting of state attorneys gener...

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Whistleblower: BofA Kept Homeowners Out Of Government Program

Reuters | Posted 05.07.2012

Read More: Gregory Mackler Whistleblower Bank of America, Hamp, Video, Loan Modifications, Whistleblower, Home Affordable Modification Program, Bank-of-America-Whistleblower, Reuters, Business News, Bank of America, Home-Loan-Modification, Business News

By Jessica Dye NEW YORK, March 7 (Reuters) - Bank of America NA prevented homeowners from receiving mortgage-loan modifications unde...

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Loren Berlin

A Tale Of Dual Tracking: Trying To Modify A Loan As Bank Forecloses

HuffingtonPost.com | Loren Berlin | Posted 02.16.2012

Read More: Carrie Haskamp, Foreclosure Crisis, Loan Modifications, Mortgage Settlement, President Obama, Mortgage Crisis, Foreclosure, Homeowners, National Mortgage Settlement, National Foreclosure, PHH Mortgage, Foreclosure Settlement, Business News

The good news was waiting for Carrie Haskamp on her answering machine one September afternoon. Her bank had agreed to change the terms of her mortgage...

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The Robo-Signing Settlement: Breaking the Usual Rules of Housing Policy

Jed Kolko | Posted 04.11.2012

Read More: Robo-Signing, Foreclosure Help, Bank Regulation, Foreclosure Crisis, Mortgage Modification, Mortgage Settlement, Obama, National Mortgage Settlement, Housing Crisis, Hamp, Loan Modifications, Business News
Jed Kolko

The robo-signing settlement is the latest -- and potentially the largest -- piece in the U.S. housing policy puzzle. Even though it's partly punishment for banks' wrongdoing, it is also another answer by the government to the question of how it can help the housing market.

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Ben Hallman

Mortgage Settlement Makes Fresh Promise To Curb Bank Bad Behavior

HuffingtonPost.com | Ben Hallman | Posted 02.09.2012

Read More: Bank Regulation, Hamp, Foreclosure Crisis, Mortgage Settlement, Loan Modifications, Mortgage Modification, Robo-Signing, Obama, National Mortgage Settlement, Foreclosure Help, Housing Crisis, Business News

As part of the $25 billion mortgage fraud settlement announced Thursday, five of the biggest U.S. banks promised to end practices that have led to bot...

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Landmark Settlement in Foreclosure Abuses

Anna Cuevas | Posted 04.10.2012

Read More: Foreclosure Crisis, Loan Modifications, The Loan Mod Guru, Foreclosure, Home Foreclosures, Business News
Anna Cuevas

While the settlement is unprecedented, it's not enough to help those who have already lost their homes, but it's a step in the right direction for homeowners who have become a victim of the housing crisis and the wrongdoings of these lenders that contributed to it.

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Banks Paying Homeowners To Sell Houses, Avoid Foreclosure

The Huffington Post | Jillian Berman | Posted 02.07.2012

Read More: Foreclosure Crisis, Video, Loan Modifications, Foreclosure Bonus, Home Affordable Modification Program, Home-Forelcosures, Business News, Ben Bernanke, Foreclosure, Foreclosure News, Jpmorgan Chase Foreclosures, Business News

Some struggling homeowners are getting paid by banks to sell their houses and stave off foreclosure. Many banks, including JPMorgan Chase, are off...

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