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foreclosure: "Making Home Affordable" - Hope or Hype? - 05/22/09 12:51 PM
It's been nearly three months since the Obama Administration rolled out "Making Home Affordable", a plan intended to help distressed homeowners. But, what's happening? It looks like the jury is still out. Amid all the hype, is the plan living up to its expectations? Thus far, only 55,000 homeowners have been helped, a far cry from the Administration's goal of seven to nine million.
Even more disturbing, the foreclosure crisis seems to be worsening:
• According to RealtyTrac, a company that compiles foreclosure data, reports that 342,000 households received at least one foreclosure-related notice last month. This is an increase of … (6 comments)

foreclosure: Loan Modification: What's The Difference Between a Lender and a Servicer? - 05/05/09 01:09 AM
Lender vs. Servicer: The Good Old Days
This concept is often confusing to people.
Back in the good old days, it was simple. You went to your local bank or Savings & Loan to get a mortgage. You spoke to your personal banker or loan officer who helped you get a loan.
The institution had lots of customers who put their money with the institution in a savings account, CD, checking account, etc. The institution paid interest to their customers, which gave them the right to use money to lend out to other customers.
You can see why banks did not … (7 comments)

foreclosure: Over Half of Foreclosures Could Have Been Easily Prevented By Doing This One Thing! - 05/04/09 02:40 AM
Millions of Americans have been affected by the economy and the depressed housing market, creating a climate in which we've seen an unprecedented number of foreclosures.
Many homeowners have been affected by a job loss, divorce, a mortgage re-set, a mortgage re-cast, or any number of other potential factors that have made it difficult –if not impossible—to afford their mortgage.
With the economy in shambles, soaring unemployment, foreclosures are occurring at the highest rate in history and no one knows exactly when our economy will recover! No wonder the only companies thriving in this economy are companies like McDonald’s, … (16 comments)

 

Jeremy Kossen

Santa Barbara, CA

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Acclaim Media Group

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