Private Loan Modifications Better Than HAMP Program?

July 12, 2011 No comments yet

In some cases, yes. HAMP has been underperforming compared the overestimated numbers that the government hoped it would complete. HAMP launched in March 2009 with the promise of 3 million modifications. Through May, servicers started roughly 731,000 permanent loan modifications and have been averaging between 25,000 and 30,000 per month this year. Wellsfargo claims they […]

Bank of America, Wells Fargo, JP Morgan Chase, Ocwen Loans Are Being Told to Get Their Act Straight

June 20, 2011 No comments yet

The Treasure has sent notices to Bank of America, Wells Faro, JP Morgan Chase, and Ocwen Loans Serving informing them they need substantial improvements in the way they process mortgages. Specifically they need to address how they identify, contract, evaluate, and assist mortgage borrowers. If they do not, then the government has said that they […]

HAMP Loan Revamped

June 20, 2011 No comments yet

After a long and tedious road with HAMP Loans, people that are accepted into the program can finally start seeing the light at the end of the tunnel, a successful loan modification for their precious homes. The Treasury Department finally was able to report that on average the same number of homeowners that were approved […]

Proposed Changed to Home Affordable Modification Program (HAMP)

April 29, 2011 No comments yet

Not only has the foreclosure crisis been a problem in damaging the economy but so has the loan modifications. The Home Affordable Modification Program (HAMP) was supposed to help millions of people who were struggling to pay their mortgage.  Below are some proposed changes to help the plagued HAMP program: Prohibit banks from initiating foreclosure […]

Loan Modification Income Requirements – Don’t Guess

March 22, 2011 No comments yet

When you apply for jobs you have a general idea on whether you at least have the qualifications for that position. Just like hunting for a job, when you hunt for a loan modification you should know if you meet the qualifications before applying. After all, sometimes you can adjust your income by spending less […]

Who Qualifies for Obama’s Home Loan Modification (HAMP)

March 18, 2011 No comments yet

Under Obama’s loan modification plan the lender agrees to change the terms of your loan so that you can afford to make the monthly payments. Once accepted in to the program struggling homeowners will not have to worry about losing their homes because foreclosure is no longer an option. There are many requirements homeowners have […]

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