Blogs Posts on "Loan Modifications"
Petition Urging Congress to Regulate Mortgage Servicing Industry and Protect American Homeowners by Give Me Back My Credit on Nov 2, 2009A new petition urging Congress to take swift action and regulate the mortgage servicing industry is circulating and growing momentum. As the economy and homeowners continue to struggle, this unregulated industry continues to be the source of ...
Consumers rally against unfair banking practices as bankers gather in Chicago by Give Me Back My Credit on Oct 28, 2009As bankers gathered in Chicago this week, thousands of consumers from across the country showed up in Chicago too. Protesters are calling on these banks who received billions in our taxpayer bailout money to help consumers who have fallen...
Report; Why Mortgage Servicers Foreclose when they Should Modify by Give Me Back My Credit on Oct 23, 2009Foreclosures vs loan modifications: Which costs mortgage servicers more? That question is answered in this below eye-opening report authored by Diane E. Thompson of Counsel, at the National Consumer Law Center . Why Servicers foreclose when they shou...
Short sales, your credit & whether you should keep paying your mortgage payments by Seattle Short Sale Blog on Oct 22, 2009People ask me all the time, “Should I keeping paying my mortgage payments if I am about to do a loan modification or a short sale?” My answer to them is, “get the facts and trust your instincts.” Here are the facts: Effects of...
Homeowners Continue to Struggle to get Loan Modifications by Give Me Back My Credit on Oct 20, 2009Many homeowners continue to get the run-around as they look for the elusive loan modification from their lender. A loan modification is simply a new mortgage that will help borrowers reduce their sizable monthly payments by reducing the interest rate...
Do Not Fall for Mortgage Foreclosure Rescue Scams by Give Me Back My Credit on Oct 6, 2009Florida Attorney General Bill McCollum launched a Mortgage Fraud Task Force back in 2007 after being inundated with complaints about mortgage and foreclosure rescue fraud scams. Since then, the Task Force has reviewed information pertaining to the bu...
FTC Considers Total Ban on Upfront Loan Modification Fees by Rain City Real Estate Guide on Sep 17, 2009It's about time. I've been saying this is going to turn into a national crisis for a year now. From the APThe head of...
IRS Eases Rules on Commercial Mortgage Loan Modifications by Al's Offerings on Business, Economy & Career on Sep 17, 2009The IRS has issued a new tax rule that will allow commercial real estate borrowers to proactively discuss possible modifications to securitized loans that are at risk of default without triggering tax penalties.
Five Ways to Identify Loan Modification Scams by Give Me Back My Credit on Sep 16, 2009Hiring someone to negotiate a mortgage loan modification on your behalf is similar to blindly feeling your way through an unknown, pitch black room, with nothing to steer you in the right direction. The stress increases with the wide-spread...
Foreclosure Victim; "If this can happen to me, it can happen to anyone!" by Give Me Back My Credit on Sep 14, 2009In April, Litton settled a class-action lawsuit that claimed the mortgage servicing company failed to timely credit borrowers' mortgage payments, that then caused the servicer to charge unfair late fees -a practice that landed many unsuspecting homeo...
