Report Says Loan Modification Programs Trigger Strategic Default

Posted on Apr 20, 2015 in HARP Refinance

For credit-challenged homebuyers, visit this site mind owning isn't out of reach
FHA loans: These products, information pills more about insured by the Federal Housing Administration, require a down payment of 3.5 percent and both upfront and annual mortgage insurance. Recently, the annual mortgage insurance premiums for these loans were reduced to 0.85 …
For more informaiton please visit here…

Wary homeowners offered new ways to finance the next move
“For a little while, you had to make a down payment of 20 percent or do FHA [Federal Housing Administration] financing, but now conventional loans are available with down payments of as little as 5 and 10 percent,” Cohen says. Bill Hampel, chief …
If you would like more informaiton please visit here…
Zero down, stomach no fees: New mortgage program will help homebuyers rehabilitate
Photo by Images from Google Maps Homes like these in the Boston Edison neighborhood that have been featured on the Detroit Land Bank auction site could be eligible for a new mortgage program through the city and Bank of America. … enlisted Bank of …
For more informaiton please visit here…

Nightmares come true: RREM contractor left home to rot
That's what Robin Buck was expecting when he signed up in September to have his home elevated through a state-sponsored superstorm Sandy rebuilding program. That prospect was shattered in March. Buck … The New Jersey Department of Community Affairs …
If you would like more informaiton please visit here…

Housing Counseling Grants to Benefit Local Individuals & Families
A local community action agency has been awarded federal grant funds designed to expand housing opportunities for families and individuals and empower them with tools to prosper. The U.S. Department of Housing and Urban Development or HUD …
For more informaiton please visit here…

Funny numbers hide the truth
Many Washington lawmakers are pushing for new or expanded federal-aid programs for college students and other groups, and they often are using misleading math to argue that they are a sure bet for taxpayers. Americans deserve an honest accounting … A …
More informaiton please visit here…
Report Says Loan Modification Programs Trigger Strategic Default
default Remember those loan modification programs the federal government introduced as a way to prevent further ruin for stressed homeowners after the bottom dropped out the housing market? It turns out they may be doing more harm than good in the …
More informaiton please visit here…

Monday Morning Cup of Coffee: Stop the loan modifications!
“Some homeowners might intentionally skip mortgage payments that they can afford to be eligible for mortgage modification programs, pills such as Home Affordable Mortgage Program, ” the summary explains. “The loan modification program established as part of …
For more informaiton please visit here…

Pro-Foreclosure Bondholders Square Off Against Pro-Loan Mod Ocwen
In an October 2010 op-ed in The Wall Street Journal titled, “Why a Foreclosure Moratorium Is a Bad Idea,” BlackRock came out against the Home Affordable Modification Program (HAMP). In June 2012, BlackRock wrote a letter to Shaun Donovan, Secretary of …
If you would like more informaiton please visit here…

4avg.rating 13 votes.