Posts Tagged ‘making home affordable’
Tuesday, December 15th, 2009
My loan is not Fannie Mae or Freddie Mac backed, can the Making Home Affordable Program help me?
The MHA and HAMP programs are designed to help homeowners with Freddie Mac and Fannie Mae backed loans only. However, there are other programs out there for homeowners who do not have loans with these institutions. Regardless of credit score or payment history, these programs are designed to help homeowners stay in their homes and avoid the foreclosure process. One of the first things a Lender will require from the borrower is a Letter of Hardship explaining the borrower’s situation and why they cannot continue with their current loan. Read more... (513 words, 1 image, estimated 2:03 mins reading time)
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Questions about government loan modification programs
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Tags: government loan modification, hamp, home affordable modification program, loan modification program, making home affordable, mha
Posted in Attorney Loan Modification, Industry Information, Loan Modification | 1 Comment »
Sunday, September 20th, 2009
What You Need to Know About Home Affordable Modification Program (HAMP)
Since the Obama Administration implemented loan modification programs such as Home Affordable Modification Program (HAMP) and Making Home Affordable (MHA), homeowners are still feeling the pinch of not being able to get their loan modifications or trial loan modifications done by their banks. In addition, bank/server numbers are still not making the grade with the expectations of the Obama Administrations loan modification expectations. Banks/services still need to step up to the plate and perform more successful loan modifications. Read more... (465 words, 1 image, estimated 1:52 mins reading time)
Tags: hamp, home affordable mortgage, Loan Modification, loan modification programs, making home affordable, mha, mortgage modification
Posted in Attorney Loan Modification, Loan Modification | No Comments »
Friday, September 11th, 2009
Government putting pressure on lenders to ramp up Making Home Affordable?
As foreclosure filings remain high, in the month of August foreclosure filings remained relatively flat. Realty Trac counted over 350,000 foreclosure filings nationally in August and says that its data covers over 90% of households nationally.
Recently with more banks forcing homeowners during the short sale process to sign promissory notes to repay some of the debt could force more homeowners into foreclosure and out of the short sale process. Usually, by this point most homeowners have tried a loan modification but were struggling with the banks to get one. Read more... (530 words, 1 image, estimated 2:07 mins reading time)
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Government pressures lenders Making Home Affordable
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Tags: Attorney Loan Modification, attorney mortgage modification, government modification, loan modificaiton company, making home affordable
Posted in Attorney Loan Modification, Loan Modification | No Comments »
Tuesday, September 8th, 2009
What is the truth about Loan Modifications and Making Home Affordable?
Why do we keep hearing in the news every day that the economy is looking better when one minute we are bailing out the banks and several months later they are proclaiming 41% profits like Wells Fargo. Then we hear that bonuses to these bank executives are about to be paid, when homeowners are still struggling to get a Loan Modification. Read more... (525 words, 1 image, estimated 2:06 mins reading time)
Tags: loan modifications, loan workout program, lower mortgage payment, making home affordable, modification programs
Posted in Attorney Loan Modification, Loan Modification | 1 Comment »
Tuesday, August 25th, 2009
My loan is not Fannie Mae or Freddie Mac backed, can the Making Home Affordable Program help me?
Yes. The Program is designed to help any homeowner that is struggling to make their mortgage payment and wants to stay in their home and/or stop a foreclosure and/or short sale. The program is available for anyone whether they are behind on payments or not. They do need to show some change in why they can’t make their payments and document the change. Read more... (511 words, estimated 2:03 mins reading time)
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Answers About Making Home Affordable Loan Modification
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Tags: government loan modification, home affordable loan modificaiton, Loan Modification, loan workout, making home affordable
Posted in Attorney Loan Modification, Loan Modification | 2 Comments »
Thursday, August 20th, 2009
How do I know if I am Eligible for a Modification under the Home Affordable Modification Program (HAMP)?
Step 1 is to see if you may be eligible for a Loan Modification under HAMP:
1. You must occupy your home as a primary residence, i.e. owner-occupant of a one to four unit home; and also have an unpaid principal balance that is equal to or less than:
- 1 Unit: $729,750
- 2 Units: $934,200
- 3 Units: $1,129,250
- 4 Units: $1,403,400;
2. Have a first lien mortgage that was originated on or before January 1, 2009; Read more... (469 words, 1 image, estimated 1:53 mins reading time)
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Eligibility for Home Affordable Modification Program (HAMP)
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Tags: Attorney Loan Modification, Loan Modification, making home affordable, save my home, stop foredlosure
Posted in Attorney Loan Modification, Loan Modification | No Comments »
Thursday, August 20th, 2009
President Obama’s administration’s $75 billion plan to refinance and modify millions of mortgages, announced back in March, is a portion of the much larger Tarp II plan. If you are a homeowner in trouble of losing your home to foreclosure, or a homeowner that has not missed a payment, but would like to refinance to a lower interest rate, you have hopefully already started calling your lender and asking for a loan modification or have contacted an Attorney based firm to handle the situation for you with the bank. The money used for this program comes from the $700 billion approved as part of Tarp I in late 2008. Read more... (486 words, 1 image, estimated 1:57 mins reading time)
Tags: Loan Modification, loan workout, making home affordable, tarp
Posted in Attorney Loan Modification, Loan Modification | No Comments »
