Banks with enormous caseloads. Unanswered calls. Repeated requests for documents. It’s no wonder that so many homeowners have given up on trying to get loan modifications.
In a piece for HuffingtonPost.com, Attorney Richard Gaudreau offers some tips on how to get a better result. You may have additional ones.
Excerpts:
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Before you apply for a loan mod, be realistic [...]
In loan mod misery? How to get through it is a post from: Mortgage Insider
The lowest mortgage rates in nearly 40 years could give the economy the boost it needs to get back on track for solid growth in the next year, Wells Fargo Bank’s chief financial officer said today.
Many experts think the dramatic drop in 30-year fixed-rate mortgages to 4.36% this week — the lowest since Freddie Mac [...]
Will 4% mortgage rates boost the economy? is a post from: Mortgage Insider
Chase is having a 5-day event in Costa Mesa to help struggling homeowners who have Chase, EMC or WaMu-serviced mortgages.
The bank says loan advisors will offer counseling for homeowners applying for modifications, and for customers who are current on their mortgages but having a hard time keeping them up. There also will be help [...]
5-day loan mod event starts Friday is a post from: Mortgage Insider
Many borrowers are dropping out of the government’s Home Affordable Modification Program, prompting concern about another spike in foreclosures in the future.
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HAMP was designed to lower borrowers’ monthly payments — cutting rates to as little as 2% for five years and extending loan terms to up to 40 years. But a significant number of people, saddled with too much debt, are [...]
‘New wave’ of foreclosures to come? is a post from: Mortgage Insider
An Orange County lawyer who signed retainer agreements with homeowners facing foreclosure but then “did little or nothing to help them” was placed on involuntary inactive enrollment, the State Bar of California announced.
The Bar cited complaints from clients in 8 states against lawyer Brian Colombana, 29, of Lake Forest.
“The Chief Trial Counsel’s office continues to [...]
Bar goes after O.C. loan mod lawyer is a post from: Mortgage Insider
Two operators of a foreclosure consulting firm operating in Orange County were each sentenced to a year in jail and ordered to repay dozens of homeowners who were swindled out of thousands of dollars in up-front fees for foreclosure-relief services that didn’t exist.
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Marianne Curtis, 69, of Costa Mesa and Mary Alice Yraceburu, 46, of Riverdale, who [...]
Women jailed in loan mod swindle is a post from: Mortgage Insider
New initiative targets jobless, cuts or eliminates some monthly mortgage payments.
Obama boosts help for homeowners is a post from: Mortgage Insider
Two homeowners with troubled mortgages are seeking class-action status.
BofA sued for not modifying home loans is a post from: Mortgage Insider
This just in from California Attorney General Jerry Brown’s office (RELEASE HERE) …
The AG shut what it called “two fraudulent foreclosure-assistance companies” that gave its victims “false hope after paying upfront fees for nonexistent loan-modification services.”
Last July 7, Brown sued two affiliated companies based in Orange County — U.S. Foreclosure Relief Corp. and H.E. Servicing, [...]
Two O.C. loan-repair firms shut is a post from: Mortgage Insider
Wells Fargo this week becomes the 2nd bank, after Bank of America, to offer 2nd mortgage relief.
The Associated Press reports:
The program is part of the Obama administration’s mortgage modification program that is aimed at reducing monthly payments to help customers stay in their homes.
The modification program offers lenders who made “piggyback” loans — second mortgages [...]
Wells Fargo to modify 2nd loans is a post from: Mortgage Insider
