All Posts Tagged With: "Making Home Affordable"
Feds Start New Short Sale & Deed-in-lieu of Foreclosure Options
Large numbers of people facing foreclosure have been helped by the government’s Making Home Affordable program, but what about those who can’t succeed under the plan? Truth is, a lot of people who enroll in the foreclosure prevention program don’t make it. The government reports that through April 299,092 borrowers received permanent loan modifications under [...]
2Jun2010 | Peter G. Miller | 0 comments | Continued
Permanent Federal Loan Modifications Near 300,000
The federal government says 299,092 permanent modifications have now been completed under the Making Home Affordable program as of the end of April. The number is up almost 13 percent over March. The Treasury Department and the Department of Housing and Urban Development (HUD) say that 3,275,249 loans were at least 60 days late as [...]
17May2010 | Peter G. Miller | 0 comments | Continued
Mortgage Modifications Threatened by Higher Interest Rates
Mortgage interest rates have spiked during the past two weeks, so is there a need to worry? The news is unsettling because last August the Federal Reserve announced that it would stop purchasing mortgage-backed securities (MBS) in the open market on March 31, 2010. The thought of one less buyer in the marketplace — one [...]
12Apr2010 | Peter G. Miller | 0 comments | Continued
Mortgage Modifications: Bush Versus Obama
It’s beginning to look like the government’s efforts to modify troubled home loans is beginning to pay off. As of the end of February more than 170,000 borrowers had obtained permanent mortgage modifications while more than 1 million more under the Making Home Affordable program are involved in trial modifications that could result in better [...]
15Mar2010 | Peter G. Miller | 0 comments | Continued
What Paperwork Do You Need To Get A Mortgage?
One of the biggest problems with the government’s Making Home Affordable loan modification program is that a large number of borrowers are making their payments but do not provide required paperwork — and thus are unable to permanently refinance their mortgage with a new and lower rate. Because they did not provide required paperwork these [...]
1Feb2010 | Peter G. Miller | 0 comments | Continued
Mortgages: Feds OK 230,000 Modification Trials
The Treasury Department says 400,000 modification offers have been sent out under the Making Home Affordable (MHA) loan modification program. So far, 230,000 borrowers have agreed to trial modifications. These are enormous numbers compared to the Bush years. Under the FHASecure program about 4,000 delinquent conventional borrowers were able to refinance there has been just [...]
4Aug2009 | Peter G. Miller | 0 comments | Continued
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