August 2009

When he got the agreement, he noticed a paragraph warning that his account would continue to be reported as delinquent to credit agencies until he made it current. “I asked them about that,” Spindel said. “They said it didn’t apply [...]

WASHINGTON, Aug 14 (Reuters) – A mortgage finance company owned by Wall Street bank Goldman Sachs (GS.N) could garner $775 million in government rescue funds if the company aggressively eases the terms of failing home loans, the U.S. Treasury said [...]

Another homeowner story: I do not even know where to begin with my story. I have been going through with this loan modification with Chase since January 2009. I have been given the run around , lied to, put on [...]

Here is an article from Motley Fool and I thought it was pretty spot on. The media is finally catching on. Check it out when you get a chance. 1. They called your bluff Modifications cost banks money. 2. They [...]

This comment was just left on my blog by a lady named Irene and I wanted to point out the claims made by this poster. Basically it is an advertisement for her services and not really a comment or anything of [...]

This email about Intellichoice Mortgage and Real Estate Services  just came to me from either a worried homeowner or loan modification scam whistle-blower. I thought I would post the information on my blog to alert other homeowners and to also [...]

California State Bar Press Release | San Francisco, August 12, 2009 — Continuing its aggressive pursuit of lawyers who commit professional misconduct by taking advantage of vulnerable homeowners, The State Bar of California announced today that it has obtained the [...]

I have been blogging about Green Credit Solutions for the past few weeks.  This loan modification firm out of  Orange County California has been a major player in the Southland and across the US for the past year. A few [...]

As Congress jousts over the effectiveness of the stimulus package to stir economic activity, it’s worth noting that homeowners — whose troubles are at the root of the economic crisis — continue to struggle. Nearly one-fourth (23 percent) of mortgage-paying [...]

Goddard, who has been working with attorneys general around the country over the past two years to encourage lenders to be more user-friendly about modifying loans, says the borrower frustration over delays, lost paperwork and other impediments has resulted in [...]

CNNMoney.com looks at five reasons why the loan modification process is so slow. Reason #1: The fax machine Having applicants fax their information to servicers has produced a slew of problems. Pages get lost or are cut off at the [...]

Donovan acknowledged reports that some servicers are still refusing to consider modifications for borrowers who are not yet delinquent. “We think that’s a mistake, because the sooner you get to somebody, the sooner you help them, the better chance you [...]

Several states have filed cease and desist orders against Taylor, Bean & Whitaker Mortgage Corporation, one of the largest wholesale lenders in the country. Apparently the issues involve Taylor Bean closing FHA loans in several states, but has failed to [...]

One proposal making the rounds in D.C. is Right to Rent: a program, first floated two years ago by liberal think-tanker Dean Baker, that would allow folks who have lost their home to foreclosure to continue living in the home [...]

The loan modification industry is starting to resemble the mortgage industry’s infamous battlefield of blown up companies and unemployed or jailed salesmen. Only this time it was more like Hiroshima than Iraq and the once alive streets of snake oil salesman [...]

Everyone’s doing it. Maybe you should try? Come on, you may like it! Owning a home was once the most sought out American Dream in dreamers land. A dream that since the 1950′s came with Mom’s apple pie and baseball [...]

“My frustration is the time that it takes,” Miller said. “They have control of my financial life, and I can’t talk to a decision-maker. They literally get to say whether I get to live in my house or my life [...]

Green Credit Solutions, Law Center, Holding or PacWest Funding (not sure what their true name is?) reached out on my blog in regards to a post I did two weeks ago called, Green Credit Law Center, Solutions – Tell us [...]

Yes, you read the title of this post correctly. This is how these rogue attorneys and brokers are marketing on the internet. I found this advertisement on a popular mortgage broker forum and it looks like they are aggressively looking for [...]

HOUSTON–(BUSINESS WIRE)–Litton Loan Servicing is pleased to announce it has signed the agreement with the U.S. Department of the Treasury to participate in the Home Affordable Modification Program (HAMP). Since March, Litton has offered more than 38,000 modifications to struggling [...]

Everyone wants a free loan modification these days and I don’t blame them one bit. They are behind the boat, underwater by a mile and they need some relief at home and on their payments so they can cope, plan [...]