Latest Loan Modification News

Fewer Loan Modifications Approved

Kara Johnson — Mon, 07 May 2012 16:05:27 +0000

The number of homeowners obtaining mortgage loan modifications has dropped by nearly one-third over the past year, falling faster than the decline in mortgage delinquencies and foreclosures.

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Loan Modifications for a Second Lien

Kara Johnson — Sat, 07 Apr 2012 03:05:17 +0000

Second mortgages can be a major problem for homeowners seeking mortgage relief through a loan modification or refinance. Fortunately, help is available through the federal Making Home Affordable program (MHA).

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BofA May Trim Mortgage Debt for Some

Kara Johnson — Tue, 13 Mar 2012 02:34:47 +0000

Some underwater borrowers could see their mortgage balances reduced by an average of $100,000, thanks to an agreement reportedly reached between Bank of America and government officials.

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$26B Foreclosure Settlement Reached

Kara Johnson — Thu, 09 Feb 2012 18:17:00 +0000

A $26 billion settlement that would fund loan modifications and mortgage refinancing for at-risk homeowners was announced today by state and federal officials.

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HAMP Expanded to Rentals, 2nd Liens

Kara Johnson — Tue, 31 Jan 2012 17:40:09 +0000

Owners of rental properties and homeowners burdened by secondary expenses are now eligible for mortgage relief under a new expansion of the Home Affordable Modification Program (HAMP).

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Program Raises Loan Mod Success Rate

Kirk Haverkamp — Tue, 20 Dec 2011 03:07:01 +0000

Having difficulty getting a mortgage loan modification? Consider foreclosure counseling.

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7 Books for Homebuyers and Borrowers

Kirk Haverkamp — Sat, 17 Dec 2011 02:52:14 +0000

Books are always a popular item at Christmas. Since we’re all about mortgages and personal finance here, we thought we’d put together a list of some of the more popular mortgage-related books for consumers this year.

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Lucky Few Get Big HAMP Writedowns

Kirk Haverkamp — Tue, 13 Dec 2011 18:07:55 +0000

A handful of lucky homeowners have been able to reduce their mortgage debt by nearly one-third under a little-noticed provision of the government’s Home Affordable Modification Program (HAMP).

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Getting a Jumbo Mortgage Modification

Kirk Haverkamp — Sat, 03 Dec 2011 03:27:47 +0000

Can you get a loan modification on a jumbo mortgage? The answer is yes, but there are some significant differences from getting a mortgage modification on a conventional loan.

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Consumer Bureau Turns to Mortgages

Kara Johnson — Thu, 01 Dec 2011 23:18:28 +0000

Two new initiatives to help guard consumers against mortgage-related abuses were launched this week by the recently established Consumer Financial Protection Bureau (CFPB).

Read More at MortgageLoan.com