Loan Modification

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The Economist The Obama Administration Should Have Listened To

HuffingtonPost.com | Shahien Nasiripour | Posted 11.12.2009 | Business

Eight months ago, the Obama administration launched a plan to help troubled homeowners avoid foreclosure by providing $75 billion in taxpayer funds to...

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Loan Modification Plan Has Helped 20 Percent Of Eligible In California, Nevada And Arizona

AP | ALAN ZIBEL | Posted 11.10.2009 | Business

Read More: Loan Modification, California, Mortgage Modification, Making Home Affordable, Mortgage Servicers, Mortgage Crisis, Loan Mod, Nevada, Arizona, Home Loans, Business News

WASHINGTON — The Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says, but most ...

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Making Mediation Mandatory Before Families Lose Their Homes

Pedro Nava | Posted 10.22.2009 | Politics

Read More: Foreclosures, Mortgage Lenders, AB 1588, Home-Ownership, Loan Modification, Loan Mediation, Subprime Lenders, Loan Servicers, Banks, Assemblymember Pedro Nava, California, Pedro Nava, Financial Institutions, Nava, Politics News

Mediation is not a one-side concept -- lenders and servicers have every incentive to participate. So what is the better outcome? Foreclosure or a modification that encourage stability?

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Loan Modification: Banks Finally Agree To Reduce Principal For Borrowers

wsj.com | JAMES R. HAGERTY | Posted 10.01.2009 | Business

Read More: Mortgages, Banks, Loan Principal, Loan Modification, Mortgage Modification, Economy, Business News

Banks and loan investors are starting to bite the bullet and lower the principal due on home mortgages for some struggling borrowers, a new report fro...

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Loan Modifications: Half Of All Who Get Help End Up Falling Behind

AP | Alan Zibel | Posted 09.30.2009 | Business

Read More: Office of Thrift Supervision, Loan Modification, Occ, Making Home Affordable, Mortgage Modification, Office of the Comptroller of the Currency, Business News

WASHINGTON - Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help ...

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Loan Modifications: Half Of All Homeowners Who Help End Up Redefaulting

AP | ALAN ZIBEL | Posted 10.01.2009 | Home

Read More: Office of Thrift Supervision, Loan Modification, Occ, Making Home Affordable, Mortgage Modification, Office of the Comptroller of the Currency, Home News

WASHINGTON — Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again.

More than 50 percent of homeowners with loans modified in the first half of last year had missed at least two months of payments a year later, the federal Office of the Comptroller of the Currency and the Office of Thrift Supervision said Wednesday.

But the results were better among those who saw their payments drop substantially.

About one in three borrowers whose monthly payments were reduced by 20 percent or more had fallen behind again within a year. That compares with more than 60 percent for borrowers whose loan payments were left unchanged or increased.

The report by highlights a significant challenge for the Obama administration's plan to tackle the foreclosure crisis, backed by $50 billion in money from the financial industry bailout fund.

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Mortgage Modifications Are Increasing Payments, Fees For Some Homeowners

usatoday.com | Stephanie Armour | Posted 11.15.2009 | Business

Read More: Mortgages, Loan Modification, Making Home Affordable, Mortgage Modification, Real Estate Prices, Foreclosure, Business News

Tens of thousands of financially strapped homeowners who have asked lenders to lower their mortgage payments are instead winding up with higher monthl...

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While Debt Mounts, Couple Chases BofA Loan Modification

ProPublica | Alexandra Andrews | Posted 09.20.2009 | Business

Read More: Bank of America, Loan Modification, Making Home Affordable, Mortgage Servicers, Business News

Bank of America is the biggest mortgage servicer in the business. And judging by Treasury Department data, its customers searching for loan modificati...

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"Making Home Affordable": About 60,000 Have Refinanced Mortgages Under Obama's Plan

washingtonpost.com | Renae Merle | Posted 09.13.2009 | Business

Read More: Mortgage Crisis, Mortgages, Loan Modification, Making Home Affordable, Homeowner Bailout, Business News

A government program that allows borrowers with little or no equity in their home to refinance has helped about 60,000 homeowners so far, according to...

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Mortgage Servicers Accused Of Harassing Borrowers, Illegal Fees

AP | DANIEL WAGNER | Posted 09.05.2009 | Business

Read More: Loan Modification, Bank of America, Wells Fargo, Mortgage Servicers, JP Morgan, Lawsuits Mortgage Servicers, Citigroup, Business News

WASHINGTON — Billions of dollars the government is spending to help financially pressed homeowners avert foreclosure are passing through –...

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Home Loan Modifications: Only A Fraction Of Eligible Homeoners Have Been Helped

AP | ALAN ZIBEL | Posted 09.03.2009 | Business

Read More: Homeowner Aid, PNC Financial, American Home Mortgage Servicing, Loan Modification, Saxon Mortgage Services, Making Home Affordable, Mortgage Crisis, Business News

WASHINGTON — The government's $50 billion program to ease the mortgage crisis is helping only a tiny fraction of struggling homeowners, and a li...

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Foreclosures Often More Profitable For Lenders

washingtonpost.com | Renae Merle | Posted 08.28.2009 | Business

Read More: Loan Modification, Making Home Affordable, Bailout, Mortgage Crisis, Foreclosure, Housing Crisis, Real Estate, Business News

Government initiatives to stem the country's mounting foreclosures are hampered because banks and other lenders in many cases have more financial ince...

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Subprime Lenders Modify Home Loans For Government

nytimes.com | PETER S. GOODMAN | Posted 08.20.2009 | Business

Read More: Loan Modification, Subprime Mortgages, Federal Trade Commission, Making Home Affordable, Loanmod, Business News

LOS ANGELES -- From the ninth floor of a downtown office building on Wilshire Boulevard, Jack Soussana delivered staggering numbers of mortgages to ho...

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Mortgage Aid Program Continues to Move Slowly

ProPublica | Posted 07.31.2009 | Business

Read More: Elizabeth Warren, Treasury Department, Chase Bank, Herb Allison, Loan Modification, Housing, Richard Nieman, Foreclosure News, Business News

To date, "over 200,000" of these loan modifications have been offered, according to the Treasury Department. That leaves millions of homeowners waiting their turn.

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