Posts tagged as:

mortgage modification

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.

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Months of trial loan modification limbo, then foreclosure

by Moe Bedard

Ben Mayfield believed he had a deal that would save his dream home from foreclosure.

His mortgage servicer, GMAC, slashed his monthly payment about 70 percent last July after he asked for a loan modification. Mayfield, who is 57

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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.

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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.

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Government to push banks for more short sales

by Moe Bedard

The Treasury Department spent 2009 pushing banks to modify mortgage payments so that distressed homeowners would not be displaced. Next month, the government will start a program encouraging owners and banks to sell some of those same homes.

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Homeowners say OneWest Bank would rather foreclose than offer loan modifications

by Moe Bedard

ELK GROVE, CA – A couple facing foreclosure from OneWest Bank has joined the growing number of homeowners, attorneys and real estate professionals who believe the bank would rather foreclose than modify a loan.

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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 [...]

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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 [...]

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Bank of America loan modification pipeline clogged

by Moe Bedard

Two years after swallowing the troubled mortgage giant Countrywide Financial, Bank of America trails other major U.S. lenders in resolving troubled home loans through short sales or modified loan terms.
The lender, one of the nation’s biggest banks, holds more than a million mortgages that are months behind on their payments — twice as many

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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 [...]

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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 [...]

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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.

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Why making homes affordable is failing

by Moe Bedard

The complaints about the success — or lack thereof — of the Home Affordable Modification Program (HAMP) are getting louder.
By all accounts, the program is far less successful than government officials had hoped. Out of 1 million homeowners who received a temporary loan

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18 month loan modification fight ends in foreclosure for struggling mother

by Moe Bedard

With bills mounting and four mouths to feed, the single mother started to fall behind on her mortgage. Her disability checks and what little child support she was getting weren’t enough to pay all the bills.
She spent 18 months working on a mortgage loan modification before bank officials “reneged on what they’d previously told me.”

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Monitoring loan modification firms

by Moe Bedard

There is no official count on just how many of these illegal firms are out there. The Attorney General’s Office said it usually only investigates a company if it notices deceptive advertising or if a consumer has filed a complaint.
But regulators have noticed trends. Some mortgage mediators, for example,

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Barney Frank visits NACA’s mortgage “Save-a-Thon”

by Moe Bedard

Today, U.S. Rep. Barney Frank (D-Mass.) witnessed first-hand just how severe the crisis is as he toured the Neighborhood Assistance Corporation of America’s loan turnaround sessions at a packed Palm Beach County Convention Center.
Frank is good friends with Bruce Marks, NACA’s founder and CEO, and wanted to support Marks’ Boston-based group.

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The loan modification nightmare continues

by Moe Bedard

The complaints have a common tune. Homeowners say the banks are giving them the runaround — either by pledging to modify loans and then not following through, as with the Davis family, or by signing them up for the trial period and then leaving them in limbo.
“This is an epidemic problem,” said Stuart Rossman, director [...]

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Video: Mother is going crazy trying to obtain a loan modification

by Moe Bedard

A mother of two special-needs children is at her wit’s end trying to get her home loan modified, hoping she’s not another statistic in a years-long foreclosure nightmare.
Watch the KCRA video here.

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Rebublicans claim government foreclosure programs have failed

by Moe Bedard

Republicans say foreclosure aid ‘has failed’
The Obama administration’s chief foreclosure-prevention program “has failed” and may hurt more homeowners than it helps, according to a report by two Republican members of the House Committee on Oversight and Government Reform. The report will be presented at a subcommittee hearing Thursday.

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Woman sues Bank of America and Wells Fargo over loan modification program

by Moe Bedard

“The bank hasn’t listened. They have been very threatening all along,” she said. “I would call them and say I’m willing to pay exactly what I owe. Just make it a little bit easier. It’s a tough economy right now.”
Frugoli and her attorney have filed suit in Brockton Superior Court against Wells Fargo.

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