More comments on the crooked-ness of the mortgage modification mess
Loss mitigation dept. didn’t communicate with foreclosure dept at the same lender’s office. This is a clear violation of the law. The lenders should be prosecuted. Don’t bet on it.
Read MoreAn expert rant on the real crooked-ness of the mortgage modification mess
the points made in this latest expose are what all of us involved in the attorney-driven mortgage modification industry feel and want to say.
Read MorePBS personalizes employment and mortgage modification plight, again
The stories always have one of two different points: trusting homeowners having been taken advantage of by crooks; or of getting an unsatisfactory response from their lender.
Read MoreFannie Mae and Freddie Mac no better at overseeing federal modification plan
the federal government had assured a whopping 13% of estimated eligible modifications. The free assistance programs admit a 10% success rate.
Read MoreMore on Foreclosures being more profitable than Mortgage Modifications
Occasionally I see an article that supports the notion that the lenders profit more from foreclosures than mortgage modifications. This one cites more proof than the usual.
Read MoreMore mis-information corrected on credit score implications of a mortgage modification
If you want real credit score answers, you have to deal with Hal. Everyone should know how that turned out.
Read MoreCalifornia Lawyers stymied by New Law Barring Up-Front Fees for Mortgage Modification Work
mortgage lawyers wonder whether the new regulations will really just drive honest attorneys out of the practice.
Read MoreIs Citi (or your mortgage lender) Taking Advantage?
Why would anyone really think the mortgage lender is on their side? If the distressed homeowner tries to negotiate their own mortgage modification, they have a fool for a client.
Read MoreU.S. Treasury – New Rules For Short Sales
Treasury Dept. will offer subsidies, $1,000 to the mortgage servicer and $1,500 to home sellers to encourage short sales. The fees, are designed to incentivize the servicer for the extra work and get the seller to leave the house quickly and in good condition.
Read MoreOffice of the Comptroller of the Currency and Office of Thrift Supervision Report Shows Mortgage Modification Trend And Woes
In the first quarter of 2009 principal reduction was only used 3.1% of the time. In the second quarter, however, that percentage increased to 10%. More aggressive modifications, probably specifically lowering principal, will help those rates.
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