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Loan Modification

Can Mortgage Servicers Play by the Rules?

Anna Cuevas | Posted 09.08.2012 | Money
Anna Cuevas

The premise of these rules evolves around two principles -- protecting homeowners from surprise costs and preventing them from getting the runaround from their services.

California Fights Back: National Bank Settlement to Become Law

Anna Cuevas | Posted 09.04.2012 | Business
Anna Cuevas

If the governor signs the bill, it will go into effect on Jan. 1, 2013. It is expected that some banks will begin to implement the changes caused by the legislation prior to that time. Be your own best advocate in the fight to save your home from foreclosure, get the facts, and stay one step ahead.

Independent Foreclosure Review Coming to a Close

Anna Cuevas | Posted 08.28.2012 | Money
Anna Cuevas

Homeowners seeking a review on whether they have been unfairly foreclosed have been granted an extension, but the deadline is almost here.

Loan Mods Aren't A Cure-All For Delinquent Homeowners

The Huffington Post | Bonnie Kavoussi | Posted 06.22.2012 | Money

For many homeowners that have fallen behind on their mortgages, a loan modification doesn't prove to be a cure-all. Six in 10 delinquent homeowner...

Herman Cain: Banks 'Want To Help People, They Really Do'

The Huffington Post | Luke Johnson | Posted 12.19.2011 | Politics

Republican presidential candidate Herman Cain said on Wednesday that banks want to "help people" renegotiate their mortgages but that government regul...

Bailout Dollars Meant For Struggling Homeowners May Pay Down Deficit Instead

Posted 10.25.2011 | Business

By Lois Beckett, ProPublica With housing prices dropping sharply, and foreclosure filings against more than 1 million properties in the first h...

Those Walking Away From Mortgages Aren't Who You'd Expect

AOL Real Estate | Catherine New | Posted 07.11.2011 | Business

Like so many American homeowners, he lost his job in the financial crisis and watched the value of his house plunge. Unable to modify his loan -- and ...

Laura Bassett

Foreclosure Hero: Man Pesters Executives, Saves Friend's House

HuffingtonPost.com | Laura Bassett | Posted 05.25.2011 | Business

Lee Castillo, 34, is an IT systems engineer with zero experience in the mortgage industry.  But when he found out that his friend had been scammed by...

One Homeowner's 'Kafka-esque' Struggle To Prevent Foreclosure

nytimes.com | JOE NOCERA | Posted 05.25.2011 | Business

Instead, her servicer, Bank of America, foreclosed on the property in late August and handed it off to Fannie Mae, which owned the mortgage. Ms. Rober...

Mortgage Madness: Meetup To Discuss Loan Modification In Chicago

Posted 05.25.2011 | Chicago

Are you having trouble with your mortgage or bank loans? Are you flummoxed by a byzantine process, or frustrated by a lack of modification options? Yo...

HuffPost Readers: Meetup In NYC To Discuss Mortgage Woes

Posted 05.25.2011 | New York

Are you having trouble with your mortgage or bank loans? Are you flummoxed by a byzantine process, or frustrated by a lack of modification options? Yo...

Mortgage Madness: Meetup To Discuss Loan Modification In Denver

Posted 05.25.2011 | Denver

Are you having trouble with your mortgage or bank loans? Are you flummoxed by a byzantine process, or frustrated by a lack of modification options? Yo...

Faced With Scrutiny, Banks Slowing Foreclosures

nytimes.com | David Streitfeld | Posted 05.25.2011 | Business

PHOENIX -- An array of federal and state investigations into the way banks foreclose on delinquent homeowners has contributed to a sharp slowdown in f...

Arthur Delaney

Homeowner Beats Bank Of America In Small Claims Court

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011 | Business

A California homeowner sued Bank of America in small claims court and won $7,595 from the bank after it burned him on a mortgage modification. "It wa...

How to Get Rid of a Second Mortgage Without a Loan Modification

Richard Gaudreau | Posted 05.25.2011 | Business
Richard Gaudreau

For those facing the loss of their home and wondering whether a Chapter 13 bankruptcy may help get rid of a second mortgage, the following information may be helpful.

More Homeowners Fall Out Of Obama's Foreclosure-Relief Program

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

WASHINGTON — More troubled homeowners are dropping out of the Obama administration's main foreclosure-relief program, which has been widely crit...

Arizona Sues Bank Of America, Alleges Loan Modification Fraud

AP | BOB CHRISTIE | Posted 05.25.2011 | Business

PHOENIX — Attorneys general in Arizona and Nevada filed civil lawsuits Friday against Bank of America Corp., alleging that the lender is mislead...

Treasury's Incredible Shrinking Mortgage Mod Program

ProPublica | Posted 05.25.2011 | Politics
ProPublica

The number of homeowners in ongoing mortgage modifications could start shrinking in several months if current trends continue, according to a ProPublica analysis of Treasury Department data.

Mortgage Failure: Who Should REALLY Pay?

nytimes.com | FLOYD NORRIS | Posted 05.25.2011 | Business

If nobody does their job right, and disaster ensues, who should pay for the sins of all? That is the predicament now confronting the mortgage industr...

Are Loan Modifications Causing Foreclosures?

Richard Gaudreau | Posted 05.25.2011 | Business
Richard Gaudreau

Not only is HAMP helping far fewer homeowners than promised, there's evidence that HAMP may be leaving more homeowners worse off than if they never had entered the "loan mod" program in the first place.

Shahien Nasiripour

Top Senate Democrat Questions Obama Foreclosure Program's Effectiveness

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The second-ranking Democrat in the Senate expressed concern Thursday over the ultimate effectiveness of the Obama administration's signature foreclosu...

Shahien Nasiripour

Bank of America Now Supports Cramdown, Giving Judges Authority To Modify Home Mortgages (VIDEO)

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Updated at 7:10 p.m. with new information. Bank of America, the nation's largest lender and its biggest bank by assets, now supports changing the la...

Obama's New Mortgage Modification Plan: What You Need To Know

AP | By ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON -- The Obama administration on Friday announced a major reworking of its troubled $75 billion plan to prevent foreclosures. The revamped pr...

Mortgage Modification Program: 12 Million Households 'At-Risk'

Reuters | Rolfe Winkler | Posted 05.25.2011 | Business

Friday's announcement that the administration is overhauling its mortgage modification program to encourage principal forgiveness shows they understan...

Shahien Nasiripour

Watchdog: Obama Foreclosure Program Is Likely To Be A Failure

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The Obama administration's signature foreclosure-prevention program is likely to be a failure and has not done enough to help struggling homeowners wh...