The article reports that mortgage loan servicers made 4,402 loan modifications in August, 2008 out of 31 million mortgages guaranteed by government sponsored enterprises Fannie Mae and Freddie Mac. The U.S. Federal Housing ...
However, there are strings attached. In exchange for a principal reduction, some banks want a piece of the future appreciation, assuming there is any. Or they may require the borrower to keep the home for X amount of years before they’re able to sell. This has created a huge hurdle, a...
PREMIER Mortgages: Loan Modifications, The NPV TestHarvey BrateVan Bratt & Ynez
You can beat them at their own game by taking advantage of the Federal Governments new push for mortgage modifications. The government stepped up to the plate with federal mortgage modification funding for a reason. In the last few years, some loans were written with terms and conditions in th...
With the current economy creating challenging financial times, loan modifications are becoming more and more necessary and acceptable. In fact, many mortgage borrowers are in properties that have lost some value, and many more are in mortgages where the payments are just too high to be met. Thes...
Loan modifications typically refer to adjustments of monthly payments on mortgage loans. These may involve increases or reductions in monthly payment amounts or changes in interest rates. They may also involve changes to the overall types of mortgages that are being issued. A loan modification is ...
1. Mortgages: Mortgage refinancing is popular among homeowners looking to lower their interest rates or monthly payments. It can also be used to switch from an adjustable-rate mortgage (ARM) to afixed-rate mortgage, providing more stability in payments. ...
The program is designed to expedite mortgage loan modifications for North Carolina residents filing for Chapter 13 bankruptcy and avoid all of the delays, headaches, and denials that have plagued homeowners trying to get this relief on their own. ...
We have been helping people fight for fresh starts for over four decades. What does a fresh start mean? It means: Eliminating second and third mortgages. Getting utilities reinstated. Reducing the balance on your mortgage. Modifications to your mortgage loan. Stopping creditor harassment and ...
Mortgage modification lawyers specialize in negotiating for the owners of mortgages that are in default and threatened with foreclosure. Federal government assistance is also available to some borrowers. Government Programs Mortgage loan modifications are the most common type because of the large sums of...