iOS app Android app

Loan Modifications

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...

Foreclosure 'SWAT Teams' Unleashed By Treasury Department: NPR

npr.org | 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. ...

White House Plans To Step Up Pressure On Lenders To Help Homeowners

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON (AP/HuffPost)-- The Obama administration, battling a foreclosure crisis that shows no signs of relenting, will step up pressure on mortgage...

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.

Ex-Countrywide Execs' Firm Making Millions Modifying Bad Loans

ProPublica | Alexandra Andrews | Posted 05.25.2011 | Business

Among the servicers participating in the government's mortgage modification program is a new recruit that's not like the others. PennyMac, a firm foun...

Bankruptcy Judges & DOJ Rip Mortgage Companies

ProPublica | Posted 05.25.2011 | Business
ProPublica

Judges have found that major mortgages servicers regularly mess up basic accounting, improperly credit payments and charge unwarranted fees.

Debtor's Revolt?

Marshall Auerback | Posted 05.25.2011 | Business
Marshall Auerback

Once all the TARPs are tidied up and the quarterly profits no longer a revelation, American consumers will still be swaddled in debt. What's to stop them from just walking away from it?

Making Home Affordable: The Waiting Game

HuffPost's Eyes & Ears | Margo Irvin | Posted 05.25.2011 | Business

Last week, the US Treasury reported that only 9% of eligible homeowners had been helped by the Obama Administration's Making Home Affordable program. ...

Banks Still Cheating People Out of Their Homes

Mike Elk | Posted 05.25.2011 | Business
Mike Elk

We can't allow Wall Street to go on cheating people out of the most important possession of their lives -- their home.

Obama Tries To Shame Mortgage Industry Into Helping Homeowners

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — The Obama administration wants to shame the mortgage industry into doing a better job of helping borrowers avoid losing their homes...

Foreclosures Bring Big Fees For Mortgage Servicers

nytimes.com | PETER S. GOODMAN | Posted 05.25.2011 | Business

This week, the Obama administration summoned mortgage company executives to Washington to demand they move faster to lower payments for homeowners sli...

How To Prepare For Your Loan Modification

AP | ADRIAN SAINZ | Posted 05.25.2011 | Business

Homeowners worried about missing mortgage payments and entering foreclosure may have another option: a loan modification. Despite some signs of stabi...

Home Is Where The Heartache Is

Lita Smith-Mines | Posted 11.17.2011 | Healthy Living
Lita Smith-Mines

But when your mortgage is past due, home is no safe haven; if real estate taxes are in arrears, your abode provides no asylum.

Homeowners Seeking "Making Home Affordable" Loan Modifications Frustrated By Inefficiency

Huffington Post | Margo Irvin | Posted 05.25.2011 | Home

Lost paperwork, miscommunications and delays are some of the difficulties homeowners face in the loan modification process.

Dispatches From The Displaced

Huffington Post | Posted 05.25.2011 | Home

Dispatches from the Displaced is a HuffPost Eyes&Ears series on the real-life effects of the housing crisis. We're collecting stories from HuffPost re...

Loan Modifications Not Helping Homeowners

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — Though lenders are boosting their attempts to curb record-high home foreclosures, fewer than half of loan modifications made at the...

Freddie Mac Hires Ocwen in Spite of Past Problems

ProPublica | Posted 05.25.2011 | Business
ProPublica

Freddie Mac introduced a loan modification pilot program, but it outsourced the job to a subprime loan servicer with a history of customer dissatisfaction and run-ins with the federal government.

Obama's Plan Offers No Relief For Some Troubled Homeowners

New York Times | JOHN LELAND | Posted 05.25.2011 | Business

Chadi Moussa lives in a house valued at more than $1 million in Dublin, Calif., in the desirable East Bay area. Unfortunately, he owes nearly twice th...

Mortgage Brokers May Benefit From Obama's Loan Modifications

Salon News | Posted 05.25.2011 | Business

Mortgage brokers could end up being the beneficiaries of Obama's loan modification program for struggling homeowners. As Salon reports: By the Obama...