California has been hit hard by the foreclosure crisis, and it’s not over yet. With many adjustable rate mortgages ready to reset, a state that already has 25% of the nation’s foreclosures may be hit again. California hold over 50% of the nation’s ARMs, many of which are about to increase their interest rates, leading to even more foreclosures in the state. The housing programs MHA and HAMP were to provide relief for thousands of homeowners, and yet due to constraining guidelines and an unwillingness to negotiate on part of the banks, foreclosures have increased across the state. As a result, District Attorney Edmund Brown Jr. has taken the initiative on the housing crisis.
Posts Tagged ‘california mortgage modification’
California District Attorney Brown Calls Banks Out as Foreclosures Increase
Wednesday, November 18th, 2009California Loan Modification Attorney
Tuesday, September 15th, 2009Why Hire A California Loan Modification Attorney?
Many homeowners try to do a California Loan Modification on their own and do not know how to fill out the California Loan Modification paperwork given to them by their bank. When they do complete the California Loan Modification paperwork and submit it to their bank they soon find out they are denied.
With the Obama Loan Modification Programs such as Home Affordable Modification Program (HAMP) and Making Home Affordable (MHA), many homeowners want to take advantage of these monies that the government has set aside to encourage banks to participate in California Loan Modifications. As of July, statistics show that only 9 percent of those applying for loan modifications are actually getting the loan modification. Secondly, 10 lenders have not changed a thing and have not modified one mortgage!!
Why California Loan Modification
Sunday, September 13th, 2009Why a California Loan Modification?
There is no clear definition of a California Loan Modification or how to go about getting a California Loan Modification. Homeowner’s trying to get a California Loan Modification on their own are denied left in right by their banks. The main reason being that they just don’t know how to complete the California Loan Modification paperwork, and the banks are not willing to help them or consult with them.
