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home loan modifications: Foreclosure Prevention - Is This What Government Should be Doing with Taxpayer Money? - 07/07/10 06:11 PM
I wonder whether our US government should be in the business of mortgage loan modification and foreclosure prevention.
The Home Affordable Modification Program (HAMP) started by the Obama administration has stopped or slowed down some foreclosures.
But should our government be doing this? Or should those who are unable to make their mortgage payments be allowed to go through foreclosure?
The US government put billions of US taxpayer dollars into the economy with the idea to support financial institutions, which has resulted in some improving financial stability.
However, there are many and perhaps 2.3 million different properties in the pipeline for possible loan default … (2 comments)
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home loan modifications: Free Foreclosure Prevention Help Provided by Orange County area Non-Profit Agencies - 08/31/09 01:33 PM
Your free foreclosure prevention help is available at Orange County, California, area non-profit agencies.
Troubled borrowers looking for free Foreclosure Prevention Counseling, and for information about the Obama administration's mortgage modification and refinancing programs, can contact a local HUD-Approved Housing Counseling Agency, to apply for help in working with their mortgage servicer.
Borrowers can also check to see if they qualify for a loan modification and refinance under the Obama plan and apply online at www.makinghomeaffordable.org for help from their mortgage servicer.
Orange County Home Ownership Preservation Collaborative has a list of local housing counseling resources and events at www.ochopc.org.
Also use the U.S. Dept. of Housing and Urban Development's website … (0 comments)
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home loan modifications: President Obama Is Right ~ Don't Pay Advance Fees for Private Home Loan Modifications - 04/13/09 11:16 AM
AVOID THE PRIVATE SERVICE SCAMS AND DON'T PAY UP FRONT FEES FOR HOME LOAN MODIFICATIONS.
You should try and use free serviceers, non-profit agencies and those of the Federal Government for your home loan modifications.
President Barack Obama said on April 9, 2009, during a news conference ... that people shouldn't pay fees in advance for private home loan modifications services ... and that if somebody asks for advance payment of fees, it's probably a scam.
See the MSNBC video where Obama Urged Folks to Decline Mortgage Mod Scams ~ http://tinyurl.com/chj5jha.
WE AGREE.
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Homeowners … (0 comments)
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home loan modifications: US Making Home Affordable Refinance Plan ~ Started This Week ~ April 5, 2009 - 04/08/09 12:26 PM
US Govt. Making Home Affordable Refinance Program ~ has been started by the US Treasury.
See US Govt and Treasury Department press realease at http://www.ustreas.gov/press/releases/reports/guidelines_summary.pdf.Treasury says say that this Making Home Affordable Program is an attempt to help about 5 million homeowners, considering falling home values, approving mortgage applications based on borrower payment history and benefit to the homeowner.
ELIGIBILITY FOR PROGRAM ~
First ~ your existing home loan must be backed by either Fannie Mae or Freddie Mac. Both companies are US Govt. owned provide online lookup services.
Fannie Mae ~ check out this site
Freddie Mac ~ check out this site Second … (0 comments)
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home loan modifications: Be Skeptical About Anyone Asking for Advance Fees to be Paid For Private Loan Modification Services - 03/19/09 10:08 AM
DON'T BE FOOLED. PAYING FEES IN ADVANCE FOR PRIVATE LOAN MODIFICATION SERVICES DOESN'T MAKE SENSE.
For a list of California State approved private loan mod services, contact the California Department of Real Estate ~ http://www.dre.ca.gov/
If you hire a private loan mod service, make sure they do the work and succeed in getting you the modification before you have an obligation to pay.
The California Association of Realtors reports on March 18, 2009: "SCAM ARTISTS USING FORGED LETTERHEAD TO CON CALIFORNIANS"
'California Attorney General Edmund G. Brown Jr. is warning consumers that scam artists are using the forged letterhead of major lenders to … (3 comments)
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home loan modifications: California Law Prosecutors Have Sent Members of Illegal Mortgage Loan Modification Scams to Prison - 03/10/09 08:20 PM
California Attorney General Brown Sent Perpetrators of Loan Modification Fraud to Prison. (click here for the article)
California Attorney General Jerry Brown announced March 8, 2009, that three individuals pled guilty to loan modification fraud against "desperate California homeowners" and were sentenced to as much as 6 years of prison.
More Good News ~ Mortgage Loan Mod Scammers Will Be Off to Prison (click here to see another article)
"While doing nothing to help and pocketing all the money, these individuals ripped off desperate California homeowners who paid thousands of dollars to stop the foreclosure of their homes," Brown said.
The AG reported that defendants sentenced were part … (2 comments)
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home loan modifications: President's Housing Plan 2009 Provides Limited Government Help For Existing Home Loans - 03/10/09 02:45 PM
The Obama administration on March 4, 2009, introduced its housing plan ... saying they intend to try and help up to 9 million struggling homeowners avoid foreclosure.
That's a dreamy goal. I'd like to see that match with reality but don't have high expectations.
The US Obama Housing Plan 2009 can HELP WITH refinanced mortgages or MODIFIED LOANS ONLY IF ...
First ~ You are borrowers who owe only up to 5 percent more than home's current value.
Second ~ Borrowers must provide their most recent income tax return, two pay stubs, and an "affidavit of financial hardship" to qualify, citing reasons behind their financial woes, such as job … (6 comments)
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Harrison K. Long, business, REALTOR®, GRI, Broker
Irvine,
CA
More about me…
Explore Group, Coldwell Banker Previews, Irvine, South OC
Address: 6833 Quail Hill Parkway, Irvine, CA, 92603
Office Phone: (949) 854-7747
Cell Phone: (949) 701-2515
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