loan modification: Help for Unemployed Homeowners through the Making Home Affordable Programs - 07/03/10 11:49 AM
Beginning August 1, 2010...participants in the Making Home Affordable (MHA) Program will be assisting homeowners who are currently unemployed. The Unemployment Program (UP) offers homeowners a forbearance period to temporarily reduce or suspend their monthly mortgage payments while they seek re-employment. These loans are held by Fannie Mae or Freddie Mac, to read the guidelines for the Unemployment Program for non-GSE servicers, click here.
PROGRAM DETAILS:
Minimum forebearance period is 3 months (the mortgage servicer has the option to extend this period depending on the investor and regulator guidelines). If the homeowner becomes employed then the forebearance … (5 comments)
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loan modification: How Homeowners Can Avoid Loan Modification Scammers - 05/24/10 10:11 AM
BEWARE OF FORECLOSURE RESCUE SCAMS!
While working with a Housing Counseling Agency, I am alarmed at the number of homeowners who are willing to take the chance and work with individuals that charge them large sums of money to complete a loan modification. This baffles me when there are plenty of HUD Approved Housing Counseling Agencies that put together your package for FREE and get results! Here are some tips to beware of when dealing with other individuals that homeowners are willing to pay to complete a loan modification.
Beware of any company that promises:
That it's okay to … (2 comments)
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loan modification: Making Home Affordable Program (MHA): Helpful Hints to Getting Help Faster - 12/29/09 10:18 AM
The Making Home Affordable Program is a program put together by the Obama Administration in the attempt to get help for homeowners in need. It is also a program that the borrow has to qualify for, it is not automatic. With persistence and patience, the Making Home Affordable Program can make a difference for homeowners. With that said the following steps are needed: Contact your lender right away. Contact the Lender that is lending you the money on the home that you own. Contact the customer service number on your mortgage statement. Not all lenders are participating in the Making … (0 comments)
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