Posts tagged as:

hope for homeowners

Good Housing Bill, But No Bankruptcy Help for You!

by Moe Bedard

Homeowners get more housing help from Washington, but no mortgage bankruptcy assistance. No bankrupcty help for you, to the back of the line!
The U.S. House of Representatives on Tuesday approved the final revisions to yet another housing bill that will offer more incentives for lenders to promote more refinance and loan workout options for more struggling homeowners. [...]

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Hedge Funds Balking at Loan Workouts

by Moe Bedard

The facts are that when there is a world-wide crisis and potential solutions are proposed, not everyone will be happy with these proposals. Such is life. But when it comes to our economy and the mad dash to hold on to cash, many investors on Wall Street are not going to accept these proposals lightly.

Take for instance the [...]

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No Hope for These Homeowners Part 1

by Moe Bedard

De Las Mercedes, on October 20th, 2008 at 8:34 pm Said:
I am having a problem with Countrywide/Bank of America allowing me to apply for this program because I have not been delinquent.
I meet all the qualifications outlined by the Hope for Homeowners program; however, the home retention unit states that I am not [...]

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Hope for Homeowners List of Lenders

by Moe Bedard

HUD has released their Hope for Homeowners (H4H) approved lender list that you can access below.
HUD, “When contacting any of the HOPE for Homeowners lenders on the list, borrowers “are strongly encouraged to contact your servicing lender and any subordinate lien holders since their participation is vital for you to refinance into a HOPE for Homeowners mortgage.”
Click [...]

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Hope for Homeowners: Will it Help You?

by Moe Bedard

The Hope for Homeowers (H4H) program has been launched and as I have mentioned before here on LoanWorkout, I am very apprehensive as to what this will do for struggling homeowners on Main Street. The reason I am looking at the H4H so pessimistically is because it still leaves lender and mortgage servicer participation in [...]

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The Year of Foreclosure Prevention Flops

by Moe Bedard

Looking back over the last year, I can’t help but notice the ridiculous amount of clever names used by our government and other consumer advocates in relation to homeowner foreclosure assistance and relief.
The latest Hope for Homeowners program has met little fan fare on this blog because quite frankly, I feel it is just the [...]

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Even with bailout, mortgage delinquencies will likely worsen

by Moe Bedard

The “proposal is positive for the housing market to the degree that it shores up the banks’ ability to lend and prevents banks from closing their doors, that is key to finding stability for the housing market,” says Susan Wachter, professor of real estate and finance at the University of Pennsylvania’s Wharton School. “But it [...]

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Bailout: What’s in it for homeowners

by Moe Bedard

Sunday’s revised plan calls for the Treasury to work with loan servicers to stem the tide of foreclosures, but how that will happen remains unclear.
NEW YORK (CNNMoney.com) — The revised $700 billion bailout legislation unveiled Sunday calls for the Treasury Secretary to implement a plan to stem foreclosures and to work with servicers to modify [...]

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Emergency Economic Stabilization Act of 2008 Gives Little Hope for Homeowners

by Moe Bedard

I personally have read over the preliminary details of the 106 page Wall Street Bailout Bill, called the Emergency Economic Stabilization Act of 2008 and I am disappointed to say the least. This was the most significant federal intervention in the economy since the Great Depression and a golden opportunity to develop a loan modification [...]

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