Posts tagged as:

loan mod

Insider Secrets Exposed or Business as Usual?

by Moe Bedard

By Moe Bedard
Today’s ABA Banking Journalelicited 10 steps to insuring that when a bank offers a loan modification to one of its clients at the request of federal regulators that it doesn’t at the same time break further laws when offering a loan modification. Essentially, the article was written by banking experts for bank managers [...]

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Lender cuts Mass. deal over subprime mortgages

by Moe Bedard

A California investment firm has agreed to modify 200 Massachusetts homeowners’ subprime mortgages – slashing interest rates and forgiving thousands of dollars in late charges, legal fees and past-due interest.

“This shows what can be done if (the banking industry) looks beyond just saying: ‘Let’s foreclose,’ ” Attorney General Martha Coakley said yesterday in unveiling a [...]

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A broad approach would “significantly disrupt the reasonable expectation of investors”

by Moe Bedard

By Moe 
George Miller, executive director of the American Securitization Forum made the above comment in an interview earlier this month along with this comment in regards to a mass loan modification approach, ““It is really an indiscriminate procedure that would violate the terms of the contract that provide for loan-by-loan decision making.”

First of all, I understand contracts [...]

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Want Out of Your ARM Mortgage? How About a Loan Modification?

by Moe Bedard

If you can’t refinance and your ARM mortgage is adjusting or about to and you can’t afford the new payments then it’s time to apply for a loan modification. Especially if you want to avoid foreclosure.
Many people are unaware of what a loan modification is and if they are eligible for one.
The facts are that [...]

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