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loan modifications: Ocwen is the Loan Modification Leader in Federal HAMP Program - 06/25/10 03:56 PM
Ocwen Financial Corporation, servicer of subprime mortgages, continues to direct the industry in main routine metrics under the government’s Home Affordable Modification Program (HAMP).
The U.S. Treasury’s just-released HAMP record card verifies Ocwen’s better performance on three critical fronts: % of trial modifications changed into permanent solutions, aging of trial modifications and a new metric initiated in this report card, “Trial Length at Conversion (months).”
The report card shows Ocwen’s Trial Length at Conversion is three months, significantly faster than the four to over seven months accounted for the larger banks that are HAMP servicers. A three-month trial length is certainly … (0 comments)
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loan modifications: Liberty Law Firm & Noah Savings Mortgage: Oregon AG Bans Orange County, CA Loan Mod Firms From State - 06/22/10 02:25 PM
Oregon Attorney General John Kroger today proclaimed two settlements that will supply refunds to homeowners in Oregon and completely ban two connected Orange County California firms from doing anymore loan modification business in Oregon.
“This office is committed to stopping abuses in the mortgage industry that harm Oregon consumers,” said Deputy Attorney General Mary Williams.
The Oregon Department of Justice investigated claims that Noah Savings Mortgage violated Oregon state law by collecting upfront fees for mortgage modifications aimed at stopping foreclosure. The investigation also looked at charges that Liberty Law Firm asked for to collect advance fees for loan modifications. Both … (0 comments)
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loan modifications: What if I can no longer afford my mortgage? - 06/03/10 07:53 PM
At this time in America we are experiencing what some people will call the "great depression 2." There are more people than ever that are struggling financially due to many different economic factors. The job market has made a huge impact on the economy with well over ten percent of American citizens either unemployed or underemployed. Other than the insanely high unemployment rate the subprime mortgage crisis has done major damage to the economy, and most importantly the life of millions of American homeowners. During the peak years when the market was so-called at its best, mortgage lenders and brokers were … (0 comments)
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loan modifications: Are there any government agencies that offer loan modification assistance? - 06/01/10 09:17 PM
There are a few government agencies that offer loan modification assistance and counseling services for individuals like yourself who are struggling to maintain their monthly mortgage payments. Most government services you will find offer counseling services to help you get on the right track and some may even help you negotiate with your lender.
The Department of Housing and Urban Development provides a list of various non-profit agencies that offer foreclosure counseling services in your area. These counselors will sit down and take the time to review your entire financial situation to determine whether or not you may qualify for a … (0 comments)
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loan modifications: Will a loan modification stop foreclosure? - 05/28/10 06:40 PM
Many homeowners in the United States are having difficulties paying their mortgage due to current financial struggles they are facing. One of the main questions they ask is "Is there someway to stop the foreclosure proceedings?" Yes! With a loan modification you may be able to bring your defaulting mortgage current once again and possibly achieve a lower monthly payment as well. If you can afford your home and just not the current loan, you may qualify for a loan modification. A loan modification will give you a fresh start and give you a chance to keep the home for you … (3 comments)
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loan modifications: Mason Capital Group: California AG Brown Arrests 4, Five Wanted for Ripping Off Homeowners - 05/20/10 08:57 PM
Attorney General Edmund G. Brown Jr. today announced that nine men engaged in a Southern California boiler room, tricked out in high-roller style with a roulette wheel and other casino equipment, have been charged with 97 criminal counts for stealing at least $2.3 million from more than 1,500 desperate homeowners who were promised loan modifications but received no relief. Arrested Tuesday and Wednesday night was Gregg Scott Quinn, of Camarillo and Juan Pierre Washington, of Winnetka, who worked as company sales managers and supervisors. Gary Arnold Eisenberg, of Westwood, a top telemarketer with the company, and Ira Itskowitz, a sales manager, … (2 comments)
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loan modifications: Maryland Foreclosure Mediation: Governor Martin O’Malley Helps Keep Marylanders in their Homes - 05/20/10 08:14 PM
Governor Martin O’Malley joined Lt. Governor Anthony Brown, Senate President Thomas V. Mike Miller Jr., and House Speaker Michael E. Busch in signing a tough new law bringing mortgage giants to the table when beginning a foreclosure proceeding in Maryland. This morning, Governor O’Malley met over breakfast with more than 200 faith leaders, acknowledging their efforts in foreclosure prevention outreach and their role moving forward under this new legislation. “With my signature today, we are empowering our fellow Marylanders, putting them on a more equal footing with mortgage companies that too often can’t be bothered to pick up the phone before … (2 comments)
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loan modifications: Will a loan modification review stop foreclosure? - 05/05/10 07:04 PM
When looking to walk away from your home and you need to buy some time before you move, will a loan modification review stop my foreclosure? Yes, in most cases, when you apply for a loan modification it can stall the foreclosure process.
It has been my experience in operating our forum for over three years, that homeowners can definitely stall the foreclosure process by attempting some type of loan work out with their mortgage servicer. This can be applying for a trial loan modification under the Home Affordable Modification Program or HAMP and also applying for a short sale or … (0 comments)
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loan modifications: A Couple Of Warning Signs of Loan Modification Fraud - 05/04/10 08:30 PM
For homeowners who are struggling to maintain their current household bills due to a reduction in income, job loss, or an adjustable rate mortgage that is no longer affordable, finding a source of relief is crucial to help prevent foreclosure or other drastic events from happening. Often times when in search for assistance paying your mortgage one of the first things you will find are loan modification or foreclosure prevention services. While they are some legitimate companies out there that provide this service, there are a ton of scam artists that prey on homeowners in distress. These companies do a great … (2 comments)
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Moe Bedard
Carlsbad,
CA
More about me…
LoanSafe.org
Address: Carlsbad, Ca, 92008
Office Phone: (760) 896-4666
Email Me
My name is Moe Bedard and I am Founder of LoanSafe.org and LoanWorkout.org. My mission is to educate consumers online about the loan and mortgage process in order to to help them make the best financial decisions. I am one of the few people on earth who place humans before profits.
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