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Posts tagged 'home loan modification'
Written by: Timothy McFarlin | Publish date: November 8th, 2010
As a loan modification lawyer, many people ask me “how do I apply for a home loan modification?” Well, the short answer is, very carefully and deliberately! Loan modification is not a matter of simply putting in a request with the lender, it has become a long and drawn out process of faxing paperwork and following up constantly. Step 1 in How Do I Apply for a Home Loan Modification: Lender Requirements The first step when applying for a home loan modification, is to call the lender and get their guidelines or a list of requirements for loan modification. This [...]
Written by: Christopher Gordon | Publish date: June 21st, 2010
Due to recent housing downturns and lack of funding, Neighborhood Housing Services of America (NHSA), a 35 year old nonprofit, providing assistance to many homeowners, is closing its doors and services. For years, NHSA raised funds from the private sector to purchase loans from local nonprofit housing organizations, in effort to support low-income, new home buyers. NHSA Chairman of the Board of Directors, Bruce Gottschall, said, “Neighborhood Housing Services of America has been a strong supporter of the community development field for 35 years. NHSA has arranged responsible mortgage financing for thousands of homeowners who otherwise would have been unable [...]
Written by: Christopher Gordon | Publish date: April 5th, 2010
On March 23rd, in Washington State, homeowners filed a lawsuit in US District Court, against the Bank of America, for withholding funds from the government intended to aid homeowners facing impending foreclosure. Banking giant, Bank of America, is accused of, intentionally, preventing Washington homeowners access to funds from the Troubled Asset Relief Program (TARP) by postponing requests to modify mortgages. In effect, BoA is denying borrowers of federal bailout funds which could, ultimately, save them from foreclosure. Homeowners are also claiming their requests to work on remedies (such as mortgage adjustments) to avoid foreclosure, are flat-out ignored. Meanwhile, Bank of [...]
Written by: Timothy McFarlin | Publish date: December 15th, 2009
Fannie Mae and Freddie Mac, the largest sources of mortgage money in the U.S., have used $111.6 billion of their $400 billion in backup financing in less than a year
Written by: Timothy McFarlin | Publish date: December 15th, 2009
Controversial legislation that would give judges new power to rewrite home mortgages is on life support
Written by: Timothy McFarlin | Publish date: December 12th, 2009
At Bank of America, only 98 out of 156,864 borrowers in the trial program had received permanent fixes
Written by: Timothy McFarlin | Publish date: November 22nd, 2009
This new way to report a loan modification does not have any negative impact to a consumer’s FICO credit scores
Written by: Timothy McFarlin | Publish date: October 26th, 2009
HAMP is rapidly becoming: I will pretend to modify your loan if you pretend that you will make the payments.
Written by: Timothy McFarlin | Publish date: July 21st, 2009
Getting a loan modification can help you lower your mortgage rate and secure you a better rate.
Written by: Timothy McFarlin | Publish date: July 21st, 2009
There are many lenders out there who promise you low rates and seemingly “too good to be true” deals.
