Loan Modification Plan Has Helped 20 Percent Of Eligible In California, Nevada And Arizona
WASHINGTON — The Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says, but most ...
WASHINGTON — The Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says, but most ...
Richard Zombeck | Posted 11.12.2009 | Business
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
AP | JIM KUHNHENN and ALAN ZIBEL | Posted 10.09.2009 | Business
WASHINGTON — The Obama administration's effort to help homeowners avoid foreclosure may not achieve its goal of helping 3 million to 4 million b...
HuffingtonPost.com | Shahien Nasiripour | Posted 10.09.2009 | Business
While the Obama administration and reporters trumpet the fact that the administration is about a month early in reaching its stated goal of modifying ...
McClatchy Newspapers | Chris Adams | Posted 10.04.2009 | Business
WASHINGTON -- The federal government is engaged in a massive mortgage modification program that's on track to send billions in tax dollars to many of ...
wsj.com | JAMES R. HAGERTY | Posted 12.01.2009 | Business
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...
AP | Alan Zibel | Posted 11.30.2009 | Business
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 ...
AP | ALAN ZIBEL | Posted 11.30.2009 | Home
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.
usatoday.com | Stephanie Armour | Posted 11.15.2009 | Business
Tens of thousands of financially strapped homeowners who have asked lenders to lower their mortgage payments are instead winding up with higher monthl...
AP | ALAN ZIBEL | Posted 09.03.2009 | Business
WASHINGTON — The Obama administration wants to shame the mortgage industry into doing a better job of helping borrowers avoid losing their homes...
HuffingtonPost.com | Jeff Muskus | Posted 08.28.2009 | Business
Months too late, the Obama administration is pushing the finance industry for further action to stem the vast tide of home foreclosures. The administ...
The Huffingtonpost | Matthew Palevsky | Posted 08.06.2009 | Business
Despite efforts by the Obama Administration to stave off foreclosures by providing incentives for banks to modify mortgages for distressed homeowners,...
Bloomberg News | Posted 07.30.2009 | Home
June 29 (Bloomberg) -- Driving through Riverside, California, Bruce Norris pointed to a half-dozen empty houses with "For Sale" signs stuck in untende...
Posted 07.30.2009 | Business
Earlier this month, we reported that President Obama's "Making Home Affordable" program, a government subsidized mortgage modification plan, was mired...
AP | ALAN ZIBEL | Posted 11.10.2009 | Business