loan modification: Staying in your home with government loan modifications - 11/22/11 04:51 PM
Many current homeowners have gone through an adjustment to their home equity since the real estate market began its decline 5 years ago. The recession has found more homeowners unemployed and/or unable to make their mortgage payments.
Good news! There is a website established by HUD (Housing and Urban Development) that provide some eligibility questions that homeowners can answer to see if they qualify for a loan modification.
They also have a “Payment Reduction Estimator” calculator that can help a homeowner see what their monthly payment may be reduced to if they qualify for a loan modification.
They list some modification programs … (0 comments)
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loan modification: Getting a loan modification or taking the Short Sale route? That is the question... - 02/13/10 02:30 AM
A few years back a record number of first time home buyers becamefirst time "homeowners", and at the time it probably seemed like a plausibleidea for them to take out an interest-only loan or the now infamous "option arm" loan. It seemed reasonable to many, even if those loans were being held just long enough to sell the home as the market values went higher or maybe the plan was to refinance out of those "too good to be true" adjustable loans once their incomes rose. I mean, did people really purchase their home thinking they were going to keep it … (2 comments)
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loan modification: 10 Things To Do When Facing A Possible Foreclosure - 03/11/09 08:00 PM
When a homeowner can no longer make their mortgage payment, many borrowers turn to their lender and after speaking to their customer service department. they are left wondering why their bank is not helping them. Some claim they are being told by their bank, that in order for them to be able to help them, they need to stop making their payments.
Borrowers understandably wonder why they have to ruin their credit before getting help with their loans. The logical and legal step is that the bank has to help the people that are more behind on their payments, but that is not always so easy to determine. There can also be … (0 comments)
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