Tag Archives: loan modification

The False Hope Of Mortgage Modification

Politicians at the state and federal level have proposed and sometimes passed various mortgage modification programs that pay lenders to write down mortgage principal for borrowers in distress. It has not helped much. Banks are reluctant to write down mortgage … Continue reading

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Watch Out For Mortgage Modification Scams

With an unprecedented percentage of home owners late on their mortgage payments, millions of Americans are vulnerable to mortgage modification scams. People will come along offering to negotiate for you with your lender to get you more favorable terms for … Continue reading

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The False Expectations Raised By Pushing Lenders To Modify Mortgages

I understand the rewards for politicians by pushing lenders to modify mortgages. It makes them look like they care about the problems of regular folks who can no longer make their mortgage payments. Still, the economic devastation wreaked by such … Continue reading

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Not Getting The Loan Modification You Ask For

A lot of people are stunned to find out that lenders are not particularly interested in modifying the terms of their mortgage. Sure, politicians talk a lot about keeping people in their homes and away from foreclosure, and sure, there … Continue reading

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Cash Sales At Record Highs In California

In January 2009, I went back to school. The school did not take credit cards. I could not get loans for my education. So I turned to my family for loans and they came through for me. Report: With the … Continue reading

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Do You Need An Attorney For Debt Relief?

A bankruptcy attorney is vital to any bankruptcy filing, but what if you’re not that deep in debt? Do you still need legal representation for other forms of debt relief? There’s no one answer to this question, since the specifics … Continue reading

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Mortgage Servicing

Whenever I hear the word “servicing”, I think of something illicit. Perhaps that’s just me. It does sound awfully nice to be serviced. I’m sure I’d feel like a king afterwards. It is good to be king. The home mortgage … Continue reading

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New Jersey has the largest shadow inventory in the country: 41 months’ worth of homes to sell

And they’re not even on the market yet. Banks are waiting to sell thousands of homes. Waiting until there is more demand. Fewer foreclosures to drive down prices. Possibly waiting for interest rates to fall. No wonder most experts see … Continue reading

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Did Fannie Mae, Freddie Mac Contribute To The Foreclosure Crisis?

Fannie and Freddie place the blame on mortgage servicers. They are the group at banks who keep an eye out for borrowers in trouble aka possible foreclosures. One large lender used over 250 different affidavit forms. Fannie and Freddie set … Continue reading

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Bank of America’s Loan Modification Program

Can bankers do what they like and sleep securely knowing that the government will bail them out if they bet wrong? It sure seems like that sometimes. One thing that bankers dread however is being called to testify before Congress … Continue reading

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