Read about the convoluted and misunderstood distressed mortgage industry here. I research mortgage modification, short sale, and debt settlement information. Dedicated to honest and trustworthy assistance.
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Fairly accurate, if disconnected Mortgage Modification article
Ilyce Glink published an easy to read, if disconnected article on getting a mortgage loan modification negotiated successfully. She starts out with a sample letter received from a subscriber. I get the indication it's representative of many, many letters. It almost spells out the path to success. "I have heard that people who [...]
Read MoreClarification and corrections on KDVR Fox 31's post
Press reporters do the best they can. But when they're not accomplished mortgage modifiers themselves, read what they missed here
Read MoreNew FHA Home Affordable Loan Modification program
Great news for previously ignored FHA mortgage borrowers. Though, you knew the line was long before........
Read MoreThe Short, and the Long Story of Calculating a Mortgage Modification
One of the mortgage modification questions I expect to get a lot, but never do, is: How do you (or the banks) calculate a mortgage modification. The reader will notice a link in my Mortgage Modification 101 section to a page that shows how mods are calculated. The short story is that there are two methods to a calculation – and subsequent negotiation. A federally guaranteed mortgage modification is calculated along HAMP, or Home Affordable Mortgage Plan guidelines. Non-federally guaranteed mortgages are calcual
lated using a different, but similar formula.
Read MoreTestimony that the Banks want your Home for Free
These guys (banking lobbyists) are coming in two, three, four times a day. They’ve got their position papers, and they just keep slamming in the same direction over and over and over. And people that want to advocate for American families, that want some changes, or want to level the playing field just don’t have that kind of lobbying power.
Read MoreA Perfect Story on How to Scuttle a Perfect Short Sale
Yet another story of a frustrated short sale transaction. This one shows in a concise way how to deep-six a perfectly straight forward short sale that benefits seller, buyer, and lender. The foul-up? Involving a well-intentioned but hog-tied real estate agent.
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