Posts tagged as:

MORTGAGE ASSISTANCE

Riding the loan modification roller coaster

by Moe Bedard

The problem is, Oakland County resident Tracey Briggs said, people aren’t getting the help they need; rather, she said, many banks are giving homeowners the runaround — in her quest to save her family’s home through HAMP, Briggs said, her lender kept “losing” documents and refused to help until she got an attorney.

2 comments Read the full article →

Officials say lenders are reneging on loan modification offers

by Moe Bedard

Some banks and other lenders will agree to modify home loans during mediation but then renege on the agreements, said a legislative leader who sponsored a bill on foreclosure mediation.

Assembly Speaker Barbara Buckley. D-Las Vegas, made the comment late Tuesday during a hearing before the Nevada Supreme Court in Las Vegas.

1 comment Read the full article →

Homeowners who get bad loan modification terms walk away

by Moe Bedard

William Negron, in his mid-70s, lost his job in car sales two years ago. The possibility of losing their home put “so much stress on him,” said son Carlos Negron. “My mother has been to the hospital twice because of this.”

Relief turned to shock when the Negrons saw the new loan terms: the

0 comments Read the full article →

Pilot project speeds loan modification applications through the system

by Moe Bedard

In January, counselors at Neighborhood Housing Services of Chicago started processing applications electronically in a pilot project that’s akin to TurboTax for loan modifications. It won’t mean more homeowners will qualify for loan modifications, but they would know sooner whether they’re going to lose their homes and can plan accordingly.

0 comments Read the full article →

Family obtains a loan modification through news station to save home

by Moe Bedard

Ocwen offered the couple a minor modification, but they couldn’t afford it.
They were told if they couldn’t make payments, their house would be foreclosed.
“You feel like there’s no way out,” Jack said.

0 comments Read the full article →

Government says permanent loan modifications grow by 45%

by Moe Bedard

The Obama administration Friday said its mortgage modification program continued to make progress, with the number of homeowners receiving permanently reduced monthly payments in February increasing by 45% to 168,708.

0 comments Read the full article →

Homeowners worn out while attempting a loan modification

by Moe Bedard

Donna McCartney made phone call after phone call and wrote letters about her family’s deteriorating financial predicament and their inability to make their mortgage payments.

0 comments Read the full article →

90,000 borrowers lose mortgage aid under HAMP

by Moe Bedard

About 90,000 distressed borrowers have lost their mortgage aid under the government’s foreclosure prevention plan and many more are at risk of losing the help, according to Treasury data released Friday.

0 comments Read the full article →

Arizona homeowners get free foreclosure help

by Moe Bedard

GLENDALE, Ariz. — Struggling homeowners from across the Valley made their way to Glendale on Thursday to try and save their homes.
They attended a workshop designed to help homeowners on the verge of foreclosure.

0 comments Read the full article →

Some loan modification offers suck

by Moe Bedard

William Negron, in his mid-70s, lost his job in car sales two years ago. The possibility of losing their home put “so much stress on him,” said son Carlos Negron. “My mother has been to the hospital twice because of this.”
Relief turned to shock when the Negrons saw the new loan terms: the monthly payment [...]

1 comment Read the full article →

OC Housewife gets a Chase loan modification on her million dollar home

by Moe Bedard

Jeane Keough — the retired “Real Housewives of Orange County” cast member — reports her 7-bedroom-9-bath Coto de Caza home has been saved from foreclosure through a loan modification. She writes:
“I am happy to report the system works! There is no foreclosure on my home anymore. After I was denied back in January, after working [...]

0 comments Read the full article →

Fighting foreclosures and winning

by Moe Bedard

Unbeknownst to the 71-yearold homeowner, he had somehow missed a mortgage payment a couple of years ago. The accumulating interest and penalties from the late payment threatened to put Mr. McConnell two months behind on his mortgage — and possibly subject to foreclosure.

0 comments Read the full article →

You may want to think twice before walking away

by Moe Bedard

Walking away sounds so attractive — I know. But throwing the keys in the ditch or the mail will have some troubling implications on your credit score, as well as possible legal ramifications. Also, how will you feel after giving up? How easy emotionally will it be to just walk away?

0 comments Read the full article →

Loan modifications are tough to obtain

by Moe Bedard

They got rid of their cell phones, Internet and cable services. They depleted their savings and 401(k) plans. Their van was repossessed. A powerboat that was written off by a bank still sits in their yard.
Her husband is working at a job two hours away in Chesapeake from their home in the Northern Neck.

0 comments Read the full article →

Loan modifications: When do you seek help and who do you talk to?

by Moe Bedard

“A good candidate for a loan modification is someone who has found that the payments [of a loan] have become overwhelming…due to a loss of a job or a reduction in income that they have become unable to make that payment,” says Chris Gonzalez, president of Compass Home Mortgage in North Bellmore.

0 comments Read the full article →

Family finally gets approved after a year fighting for a loan modification

by Moe Bedard

A Buffalo family who spent nearly a year fighting for a loan modification through the government’s “Making Homes Affordable” program, just learned they can afford to stay in their home.
Jewel Zwack contacted 5 EYEWITNESS NEWS because she and her 84-year-old mother were facing foreclosure.
She said shortly after she was approved for a trial loan modification [...]

0 comments Read the full article →

The birth of a loan modification: It’s an approval!

by Moe Bedard

Mack-Westrom believes KALW’s coverage contributed to the positive outcome. He says a couple days after our story aired, he got a call from a Chase representative saying she had seen his name in association with the bank.
MACK-WESTROM: And she called expressing interest in the file, and just straight offered to work with me through the [...]

0 comments Read the full article →

Homeowners face the fear of foreclosure

by Moe Bedard

Tracy Jackson wasn’t sure when she arrived at a foreclosure-prevention workshop Saturday morning whether she would be able to hold on to the West Baltimore rowhouse she’s owned for past five years.
Two hours later, she was breathing a sigh of relief.

0 comments Read the full article →

NACA Home Save-a-Thon attracts 24,000 homeowners and 7,500 get loan modifications

by Moe Bedard

The Neighborhood Assistance Corporation of America’s 5-day loan modification event at the Palm Beach County Civic Center attracted 24,331 households and was able to give same-day solutions to 7,547.
The marathon, which ran 24-hours-a-day beginning Feb. 25, was the 13th event nationwide sponsored by the non-profit group, which offers free

2 comments Read the full article →

Are lenders stringing along homeowners?

by Moe Bedard

A bad economy has served up hard times for Alice Rivera. She lost her job three months ago. She lost her home this week.
“They’re just, ‘we’re taking your house away and that’s it,’” said Rivera.
 
Rivera tried to get help from Bank of America, who holds the note to her house.

0 comments Read the full article →

← Previous Entries