The irresponsibility of banking with Bank of America
I remain convinced that naming specific lenders and servicers that resist legitimate and justified mortgage modification efforts is useless and meaningless. There are at last count 83 of the biggest mortgage lenders enrolled in the Home Affordable Mortgage Plan, or HAMP. Take your pick. But Bank of America is very special.
Read MoreMortgage Modification, Short Sale, or Strategic Default
The distressed mortgage holder has three strategy choices other than foreclosure or bankruptcy in actively dealing with their troubled mortgage. A complete consideration will start with the emotional aspects and progress through the financial aspects of solving the distress.
Read MoreMortgage Modifications, the Federal Trade Commission, and the U. S. Department of Justice
Any reader that does more than a cursory search for unbiased information on mortgage modifications discovers the Mandelman blog. I look to his blog daily to often find ideas to write about on this blog.
Read MoreShort sale homeowners responsible for finding their own buyer
Not only does the distressed mortgage holder need to realize the importance of pursuing a short sale, they are responsible for finding a buyer. This almost always means listing the property with a real estate agent.
Read MoreMore corrections on misconceptions about mortgage modifications
Time for another correction of the half-accurate information about mortgage modifications typically posted on the internet.
Read MoreImminent default becomes more realistic for mortgage modifications
The Federal Housing Administration announced this past Friday that distressed homeowners did not need to be behind in their mortage payments to apply and be eligible for a mortgage modification under the Home Affordable Mortgage Plan, or HAMP.
Read MoreThe Naive and their mortgage modification
It is time to focus on the mistakes the distressed homeowner makes in the mortgage modification application process. The country has been dealing with the Home Affordable Mortgage Plan (HAMP) since last March. The cold hard fact in this situation is that the distressed homeowner must start accepting their responsibility in any failing of their mortgage modification application.
Read MoreA New Take on explaining the dismal failure of the Home Affordable Mortgage Plan
Just about every fact in this article is news to me. I’ve never seen any of these reasons for the one percent of completed mortgage modifications under the Home Affordable Mortgage Plan (HAMP).
Read MoreMortgage Modifications help the non-Distressed Mortgage owner
The media and press are oh-so fond of telling us what a miserable failure the Home Affordable Mortgage Plan, or HAMP, has been. The plain fact is that the law works. It is the enforcement that has failed.
Read MoreHome Foreclosure as the very last resort
Any distressed homeowner in the U. S. is faced with several choices in fixing the situation. The federal government provides a few solutions, but they are misrepresented or under-publicized. I believe that any course of action is better than foreclosure, but there seem to be areas of the country where that is the only rational action.
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