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Loan Modifications

Shahien Nasiripour

Obama Announces 'Modest' Foreclosure-Prevention Initiative | Shahien Nasiripour | Posted 05.25.2011 | Business

In what senior administration officials repeatedly stressed as a "modest" effort, President Barack Obama announced a $1.5 billion initiative to help f...

Burning Down the House

Max Fraad Wolff | Posted 05.25.2011 | Business
Max Fraad Wolff

Foreclosure breeds foreclosure. This is sometimes called the contagion effect. As home values fall and homes fall into disrepair, today's foreclosures inextricably set up those which will occur tomorrow.

Shahien Nasiripour

Obama Foreclosure Program Shows Slight Gains, Though Troubling Trends Remain (CHARTS) | Shahien Nasiripour | Posted 05.25.2011 | Business

One in five eligible homeowners has received the kind of long-lasting relief promised by the Obama administration's signature foreclosure-prevention i...

Shahien Nasiripour

Obama Administration Knew Foreclosure Program Wasn't Working Right, Did Nothing | Shahien Nasiripour | Posted 05.25.2011 | Business

This story has been updated: See below. Even as the Obama administration's signature foreclosure-prevention program has foundered, Treasury Departmen...

Shahien Nasiripour

Treasury Announces Fix To Foreclosure-Prevention Plan, But Nearly 500K Homeowners At Risk Of Being Bounced | Shahien Nasiripour | Posted 05.25.2011 | Business

With as many as 450,000 troubled homeowners in danger of being bounced out of the Obama administration's signature foreclosure-prevention program due ...

Shahien Nasiripour

State Regulators: Foreclosure Prevention Efforts Are Failing Because They Don't Reduce Principal | Shahien Nasiripour | Posted 05.25.2011 | Business

*This story has been updated* Lackluster foreclosure-prevention efforts and the dearth of principal reductions risk plunging more homeowners into for...

Loan Modification Performance Chart

ProPublica | Posted 05.25.2011 | Business

On Jan. 15, 2010, the Treasury Department released data showing how the largest mortgage servicers participating in the administration's $75 billion foreclosure prevention program have been performing.

Mortgage Principal Reduction: Why "Re-Equifying" Borrowers Could Exacerbate The Mortgage Mess

WSJ | James R. Hagerty | Posted 05.25.2011 | Business

Many critics of the Obama administration's mortgage loan-modification program say it won't work because it doesn't do enough to address "negative equi...

Stephen Colbert Takes On The 'Walk Away From Your Mortgage' Movement (VIDEO)

Posted 05.25.2011 | Business

With an increasing number of people walking away from their underwater mortgages, there's much discussion among the chattering classes about so-called...

Obama's Loan Modification Plan 'Destined To Fail': Amherst Securities (TRANSCRIPT)

Posted 05.25.2011 | Business

In Congressional testimony today, a mortgage market expert offered scathing criticism of the Obama administration's plan to help distressed homeowners...

Fighting Loan Modification Scams

Antonio Villaraigosa | Posted 05.25.2011 | Politics
Antonio Villaraigosa

Today, I took a big step in helping homeowners to combat loan scams and foreclosure fraud, the start of NeighborWorks America's national campaign against loan modification scams.

Shahien Nasiripour

Mortgage Loan Modification: More Offers Extended, Fewer Homeowners Accepting -- Are Homeowners Losing Hope? | Shahien Nasiripour | Posted 05.25.2011 | Business

While the Obama administration and reporters trumpet the fact that the administration is about a month early in reaching its stated goal of modifying ...

Foreclosure 'SWAT Teams' Unleashed By Treasury Department: NPR | Weekend Edition Sunday | Posted 05.25.2011 | Business

The Treasury Department has started dispatching what it calls foreclosure "SWAT teams" to big banks to take a hard look at their operations....

Homeowners: "Hey Congress, Get Off Your A**"

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

Our fearless leaders and elected officials don't really seem to have much to say when it comes to hundreds of foreclosures a week - and that's just in their own districts.

Shahien Nasiripour

One Company Responsible For Nearly Half Of All Permanent Mortgage Modifications | Shahien Nasiripour | Posted 05.25.2011 | Business

Nearly half of the permanent home loan modifications under the government's plan to help troubled borrowers come from a single company that handles le...

Shahien Nasiripour

Nine Months Later, Obama Plan To Help 1.5 Million Struggling Homeowners Yet To Launch | Shahien Nasiripour | Posted 05.25.2011 | Business

An Obama administration plan announced in April to help up to half of all struggling homeowners modify their second mortgages has yet to officially la...

Gretchen Morgenson: Why The Treasury Needs A Plan B For Mortgages

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

A stalled loan modification plan might not be worrisome if the foreclosure crisis were abating. Yet at the end of September, a record 14.4 percent of ...

Shahien Nasiripour

For The "Lucky Few" Who Renegotiate Their Mortgages, Towering Debt Remains | Shahien Nasiripour | Posted 05.25.2011 | Business

A Huffington Post analysis of recent mortgage-modification data shows that even those relatively few homeowners fortunate enough to renegotiate their ...

NYT Norris: "Banks Losing Paperwork? What Am I Missing?"

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

Reporters, journalists, and correspondents ideally report all sides of a story...When a reporter panders to the industry they are covering they do a disservice to the public that turns to them for the truth.

Couple Torture Loan-Modification Agents

Reuters | Steve Gorman | Posted 05.25.2011 | Business

As Los Angeles housing advocates launched a campaign warning of mortgage rescue scams, a couple hit by foreclosure are charged with torturing two loan...

Bank of America Trailing Behind Other Banks In Mortgage Relief

Washington Post | Renae Merle | Posted 05.25.2011 | Business

Bank of America employees are reminded every day of how far they still have to go. Just outside the elevators of their vast third-floor command center...

NY Post: Obama Was Nice To Bankers Despite 'Fat Cat' Remark

New York Post | Charles Gasparino | Posted 05.25.2011 | Business

In public, President Obama is on a tear against Wall Street. In private, not so much Over the weekend, Obama attacked fat-cat investment bankers, tel...

Shahien Nasiripour

Obama Administration To Shame Lenders That Don't Offer To Modify Mortgages | Shahien Nasiripour | Posted 05.25.2011 | Business

Its signature foreclosure-prevention plan having definitively failed to actually help very many homeowners, the Obama administration today announced ...

Ocwen Bank: Fun With Numbers

Richard Zombeck | Posted 05.25.2011 | Business
Richard Zombeck

Ocwen Financial is responsible for 45 percent of all the successful loan modifications in the country. Wow, 45 percent. If I hadn't almost flunked math, I'd think that was almost half.

Homeowners: The War Games Have Begun

Iris Martin | Posted 05.25.2011 | Business
Iris Martin

Now it's time for the predatory lenders, brokers and foreclosure consultants to sweat. Here is the skinny on what to do and not do in your own mortgage war.