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Loan Modifications

Multibillion-Dollar Settlement Of Mortgage Cases In The Works

Posted 05.25.2011 | Business

NEW YORK (By Jonathan Stempel) - The Obama administration is trying to push a settlement that could force the largest U.S. banks to pay for reduction...

How to Avoid Home Loan Modification Scams

Hilary Kramer | Posted 05.25.2011 | Business
Hilary Kramer

In obtaining a mortgage, a homeowner pays in the form of points. Sadly, homeowners seeking modifications have been paying upfront fees to scammers and agencies that are preying on their desperation.

Servicer Aurora Sued For Making Loan Mods Too Easy To Get

American Banker | Kate Berry | Posted 05.25.2011 | Business

The loan modification offer was hard to turn down, in more ways than one. It was July 2008. IndyMac Bank was failing and Fannie Mae and Freddie Mac w...

Hope For Homeowners: Now I Know My NPV's -- HAMP

Anna Cuevas | Posted 05.25.2011 | Business
Anna Cuevas

Meet Constantine. Constantine suffered some economic hardships due to him having to accept a lower paying job. This jeopardized his ability to save his longtime family home.

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...

Shahien Nasiripour

Michigan Family Says Obama Foreclosure-Prevention Program Cost Them Their Home

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The following story is produced in partnership with The Dylan Ratigan Show's week long "No Way To Live" series on the financial crisis and its impact ...

Thousands of Servicer Walkaways, Unregistered Vacant Homes May Be Costing Chicago $36M

Dory Rand | Posted 05.25.2011 | Chicago
Dory Rand

The top mortgage servicers and trustees associated with the likely abandoned foreclosures in Chicago include Bank of America, Wells Fargo, U.S. Bank, Deutsche Bank, and JP Morgan Chase.

Hope for Homeowners, 'Say HAMP'

Anna Cuevas | Posted 05.25.2011 | Business
Anna Cuevas

Be your own best advocate, the only way you can do that is to get the information you need to so that you are empowered when you are trying to save your home.

Laura Bassett

Loan Modification Scam Pushing Working Parents Toward Bankruptcy

HuffingtonPost.com | Laura Bassett | Posted 05.25.2011 | Business

Merrill and Jodi Z. of Jersey City, N.J., say they're feeding their four kids breakfast for dinner every night since they fell for a mortgage modifica...

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...

Home Foreclosures Jump In 3rd Quarter: Regulators

Posted 05.25.2011 | Business

WASHINGTON (By Dave Clarke) - U.S. home foreclosures jumped in the third quarter and banks' efforts to keep borrowers in their homes dropped as the h...

Hope For Homeowners: For My Next Stunt, A HAMP Loan Modification

Anna Cuevas | Posted 05.25.2011 | Business
Anna Cuevas

Meet Mario and Betty Mario has been a stuntman in Hollywood for a couple of decades and none of the daring performances that required his immense s...

Shahien Nasiripour

In Obama Anti-Foreclosure Program, Thousands Of Homeowners Strung Along For A Year

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

More than 29,000 troubled American homeowners have been stuck in mortgage modification purgatory for at least a year, with no end in sight, under the ...

Mortgage Fraud Summit Reveals Both Systemic Fraud and FBI's Seeming Blind Eye

Suzanne O'Keeffe | Posted 05.25.2011 | Business
Suzanne O'Keeffe

To combat mortgage and foreclosure fraud, we first need to understand the nature of the fraud. There are the small-potato schemes -- the loan modifica...

Fannie, Freddie In Talks With Government Over Reducing Balances For Struggling Homeowners: Report

Posted 05.25.2011 | Business

NEW YORK: Fannie Mae and Freddie Mac are in discussions with U.S. government officials to join government programs aimed at reducing mortgage balances...

After They Denied Them a Permanent HAMP Modification, What Are Servicers Doing With Borrowers?

Dory Rand | Posted 05.25.2011 | Business
Dory Rand

What are individual servicers doing with borrowers they did not approve for a permanent modification? The data seem to raise more questions than it answers.

Farm Loan Crisis of 1980s Demonstrates How "Stripdowns" Worked without Working

Dory Rand | Posted 05.25.2011 | Business
Dory Rand

The longer this foreclosure crisis drags on, the clearer it is that voluntary loan modification programs are inadequate to meet the needs of millions of borrowers with homes worth less than the mortgages.

Don't Let the Student Loan Crisis Kill Families

Jennifer Openshaw | Posted 05.25.2011 | College
Jennifer Openshaw

Everyone's been talking about the mortgage crisis that continues to wreak havoc on families. But have you focused on the next looming crisis? I'm talking about student loans.

Homeowners Say Loan Modifications Led Them To Foreclose

AP | JACOB ADELMAN | Posted 05.25.2011 | Business

LOS ANGELES — Grocery store owners William and Esperanza Casco were making enough money to stay current on their mortgage, but when JPMorgan Cha...

Lemons Into Lemonade? Turning Flawed Foreclosures Into Mediated Modifications

David M. Abromowitz | Posted 05.25.2011 | Business
David M. Abromowitz

As the 50-state Attorney General task force faces off against a range of lenders and loan servicers, both sides should keep the ultimate goal in mind: to get each home owner a fair hearing for his or her individual situation.

Arthur Delaney

Treasury Denies Mortgage Program Puts Borrowers Into Default

HuffingtonPost.com | Arthur Delaney | Posted 05.25.2011 | Business

A federal watchdog reported Monday that the Obama administration's signature anti-foreclosure program sometimes causes people to lose their homes to f...

Shahien Nasiripour

Top Fed Official On Government's Foreclosure Prevention Efforts: 'Three Years Of Failed Policies'

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

One of the Federal Reserve's top economists denounced the Obama administration's approach to stemming the growing foreclosure crisis, saying it's part...

Big Banks Will Clean Up This Mess -- When We Demand It

George Goehl | Posted 05.25.2011 | Business
George Goehl

In the years since the nation's largest banks were bailed out by taxpayers they have shown very little in the way of thanks. They can begin demonstrating some gratitude by rebuilding what they broke.