Making Home Affordable

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Mortgage Delinquencies Hit Another Record In 3Q

AP | EILEEN AJ CONNELLY | Posted 11.17.2009 | Business

Read More: Mortgages, Subprime Mortgages, Making Home Affordable, Real Estate Prices, Mortgage Delinquencies Third Quarter, Mortgage Crisis, Transunion, Real Estate, Mortgage Delinquency, Mortagge Modifiaction, Business News

NEW YORK — The pace at which people fell behind on their mortgages slowed during the summer for the third consecutive quarter, but the overall d...

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

Richard Zombeck | Posted 11.03.2009 | Business

Read More: Mortgages, John Tierney, Congress, Making Home Affordable, Barney Frank, Martha Coakley, Foreclosure, Loan Modifications, Mortgage, Banks, Business News

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.

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Ocwen Bank: Fun With Numbers

Richard Zombeck | Posted 10.21.2009 | Business

Read More: Mortgage Crisis, Loan Modifications, Ocwen Financial Corp., Making Home Affordable, Business News

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.

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Deck Stacked Against Homeowners

Richard Zombeck | Posted 11.12.2009 | Business

Read More: Mortgages, Ocwen Financial Corp., Mortgage Modification, Making Home Affordable, Ocwen, Business News

My wife and I have been involved in negotiations with our loan servicer for over a year now. It seems that the deck, as Arianna points out, is most certainly stacked against us

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One In Five Students At Brooklyn School Homeless

The Huffington Post | Julian Hattem | Posted 10.13.2009 | Business

Read More: Making Home Affordable, Cindi Gramenz, Homeless Children, Homelessness, King's Harvest, The After School Corp, Fintress Harris, Making Home Affordable Program, Select Milwaukee, Mary Oddan, PS 636, Bearing Witness 2.0, Bearing Witness, Diane Woods-Kavalski, Business News

As part of its Bearing Witness 2.0 project, the Huffington Post is rounding up a few of the best local stories of the day. One in five children are ...

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JPMorgan Interest-Only Loan Periods: Bank Works With Administration On Breaks For Borrowers

bloomberg.com | Jody Shenn and Dawn Kopecki | Posted 10.13.2009 | Business

Read More: JPMorgan Chase, Treasury Department, Making Home Affordable, Home Mortgages, Loans, Obama Administration, Business News

Banks will push the Obama administration to expand its mortgage-modification program to allow interest-only periods on reworked loans, seeking to brin...

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One Company Responsible For Nearly Half Of All Permanent Mortgage Modifications

HuffingtonPost.com | Shahien Nasiripour | Posted 10.13.2009 | Business

Read More: Elizabeth Warren, Making Home Affordable, Mortgage Servicers, Wells Fargo, Ocwen, Bank of America, Barack Obama, JPMorgan Chase, Mortgages, Loan Modifications, Subprime Mortgages, Bailout Bandits, Bailout, Bailout Watchdog, Financial Crisis, Congressional Oversight Panel, Business News

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...

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Bank of America Trailing Behind Other Banks In Mortgage Relief

Washington Post | Renae Merle | Posted 10.12.2009 | 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...

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Mortgage Loan Modification: More Offers Extended, Fewer Homeowners Accepting -- Are Homeowners Losing Hope?

HuffingtonPost.com | Shahien Nasiripour | Posted 10.09.2009 | Business

Read More: Mortgages, Treasury Department, Loan Modifications, Mortgage Modification, Making Home Affordable, Mortgage Servicers, Behavioral Economics, Home Affordable Modification, Mortgage Crisis, Financial Crisis, Obama Administration, Homeowners, Business News

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

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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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Making Home Affordable: 12 Percent Of Eligible Borrowers Helped So Far

HuffingtonPost.com | Arthur Delaney | Posted 11.09.2009 | Business

Read More: Foreclosures, Foreclosure Crisis, Making Home Affordable, Home Values, Housing Crisis, Recession, Business News

Twelve percent of distressed homeowners eligible for mortgage modifications under the Obama administration's signature effort to reduce foreclosures h...

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Eligible For Help Under Obama Plan But Still Facing Foreclosure

HuffingtonPost.com | Arthur Delaney | Posted 11.08.2009 | Business

Read More: Making Home Affordable, Down Not Out, Bearing Witness 2.0, Bearing Witness, Business News

Donna Whitaker applied for a mortgage modification on April Fools' Day. The joke was on her: Her bank, JPMorgan Chase, lost her paperwork and then den...

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Making Home Affordable Program Hasn't Helped Enough, Some Say

CNN | Jessica Yellin CNN National Political Correspondent | Posted 10.16.2009 | Business

Read More: Mortgages, Only 6 Percent of Homeowners, Housing Program, Making Home Affordable Program, Housing Crisis, Making Home Affordable, Business News

(CNN) -- When President Obama unveiled the Making Home Affordable Program in March, he said it would help "responsible folks who have been making thei...

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Subprime Culprits Are Modifying Loans With Taxpayer Money: Center For Public Integrity

HuffingtonPost.com | Shahien Nasiripour | Posted 09.26.2009 | Business

Read More: Subprime Mortgages, Bailout Bandits, Bailout, Making Home Affordable, Subprime Mortgage Crisis, Banks, Bank Bailout, Home Foreclosures, Business News

Many of the lenders who helped fuel the subprime mortgage boom are now receiving billions in taxpayer money to modify those same loans, according to a...

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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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Making Home Affordable: The Waiting Game

HuffPost's Eyes & Ears | Margo Irvin | Posted 09.10.2009 | Business

Read More: Loan Modifications, Making Home Affordable, Bailout, Home Affordable Modification, Financial Crisis, Foreclosure, Housing Crisis, Dispatches From the Displaced, Recession, Mortgage Crisis, Business News

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

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Banks Still Cheating People Out of Their Homes

Mike Elk | Posted 09.05.2009 | Business

Read More: Evan Bayh, Loan Modifications, Predatory Lending, Making Home Affordable, Wall Street, Campaign Contributions, Lobbyists, Dick Durbin, Blue Dogs, Home Affordable Modification, Max Baucus, Foreclosure, Center for American Progress, Cramdown, Business News

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

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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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Mortgage Servicers Get Big Fees From Foreclosures

nytimes.com | PETER S. GOODMAN | Posted 08.30.2009 | Business

Read More: Ocwen Finanical, Loan Modifications, Making Home Affordable, Mortgage Crisis, Treasury Department, Bank of America, Foreclosure, Mortgage Services, Business News

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

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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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