There has been an increase in mortgage restructuring due to the poor economy, job losses and other factors. One solutions is to modify an existing loan, which can solve many problems but is not always as easy as it may seem to do.
A federal program introduced in early 2009, called the Home Affordable Program (HAMP), [...]
New laws are being implemented now that offer increased protection for homeowners who want to modify their loans. Once you determine that you do qualify for loan modification, and all of your paperwork is in order, no lender can charge you a fee unless and until your loan is approved, which can take from several [...]
My mother died in April, leaving a home with a mortgage. I am her only child, and have been unable to pay her mortgage; it has gone unpaid for four months. I just received rights as Administrator of her estate, and will now be able to communicate with the mortgage company regarding the home. I [...]
I have been waiting for over 3 weeks for my lenders loss mitigation to get back to me and still haven’t received a call. I have been calling everyday to see if my case has been assigned to an agent. What are my options at this point?
Can Anyone Explain Why Gold Has Dropped While The Federal Reserve Continues To Lower Interest Rates?
I can’t figure out why the price of GOLD continues to go down while the Federal Reserve continues to keep interest rates at all time lows. With the Federal Reserve continuously lowering interest I do believe that inflation is right around the corner. Possibly massive inflation, the like of which has not been [...]
What does a DTI ratio have to be when applying for a Loan Modification?
I am doing a report on loan modifications. It appears that everyone and their mother is now an expert on loan mod’s. Does anyone know the exact DTI ratio the banks look for when applying for a loan mod?
Now that we are paying our mortgage and on time will our credit score improve once our mortgage states “current” as opposed to “past due”?
Ocwen Financial Corporation is in Florida
How do I submit an accurate, acceptable and complete application to my bank for review and consideration of loan modification?
- I am a first time home buyer .
- excellent fico score ( 820+)
- 20-25% down payment
- home price is around $220K
- loan amount is around $165K
Any banks you could suggest who could give me lower interest rates around 4 to 4.2% with zero points ?
