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mortgage news: Can I sell my home without a real estate agent? - 06/25/10 04:01 PM
Q.Dear LoanSafe.org, I have come to a conclusion that I would like to sell my home instead or continuing trying for a loan modification. It has been hard over the past few months to pay the mortgage payment, but somehow I am able to manage it. I’m not at all worried about having to short sale my home because I only owe 150,000 and my home has recently been appraised at $210,000.
My question to you, “Is it possible to sell my home without a real estate agent? The only reason I ask is because I would like to come up … (1 comments)
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mortgage news: 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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mortgage news: Today’s Mortgage Rates Hit Record Lows - 06/25/10 03:47 PM
Today’s mortgage rates have officially hit all-time record lows according to Freddie Mac.
The average interest rate for a thirty-year fixed rate mortgage yesterday was at 4.65%, this is down from last week when the thirty-year fixed averaged 4.75%. This time last year the average rate for this type of loan was 5.42%.
To read more information on this article, please visit LoanSafe.org
… (0 comments)
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mortgage news: Obama Administration Approves $1.5 Billion for States Hardest Hit by Foreclosures - 06/24/10 02:47 PM
State Housing Finance Agencies in several states such as California and Nevada can start using $1.5 billion in “Hardest Hit Fund” foreclosure-prevention funding in plans approved today by the government. This aid will support pioneering local plans to assist struggling homeowners in those states, as part of the original round of funding available from this program.
“These states have identified a number of innovative programs that will make a real difference in the lives of many homeowners facing foreclosure,” said Treasury Assistant Secretary for Financial Stability Herbert M. Allison, Jr. “While we’ve made important progress stabilizing the housing market and keeping … (1 comments)
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mortgage news: Fannie Mae Targets Borrowers Who Walk Away - 06/24/10 02:35 PM
Fannie Mae has publicized that fresh mortgages will not be backed for 7 years if the borrower has walked away from a mortgage in the past although he or she would have been able to afford the monthly payments or even though he or she would have been able to find a first-rate faith substitute by communicating with the lender.
Even more so, they will also be suing strategic defaulters in states where these approaches are allowed in order to recover the losses they dealt with as a result of the truth that certain people have decided to walk away even … (0 comments)
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mortgage news: Mortgage Lawsuit Armageddon - 06/24/10 02:17 PM
Booms and busts can pretty much be considered opposites if you stop and think about the meaning of it. During a boom such as the one we had experienced a few years ago, nearly everyone is content enough to think about the worst. However, during the bust mostly everyone is pointing fingers and looking for someone to blame.
It is true that some people buy homes they cannot afford, then add cars they cannot afford; and let’s not forget about the useless wants that people buy simply for the pleasure of it all such as several large screen TVs, expensive phones, … (0 comments)
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mortgage news: Current Mortgage Rates for June 22, 2010 - 06/22/10 02:30 PM
Mortgage rates continue to remain at very constant levels as the average rate for a thirty-year fixed home loan remains at 4.75% today, unchanged from yesterday. With mortgage rates this low it's no surprise why so many people are looking to refinance their mortgages. New home loan applications are also still up.
You will find that many of America’s leading lending institutions including Wells Fargo and Bank of America are offering rates this low to qualified home buyers. Always remember to shop around for the best deal possible before dedicating to a brand new mortgage.
For more information on this article, … (0 comments)
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mortgage news: 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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mortgage news: Obama Administration Unveils National Strategic Plan to Prevent and End Homelessness - 06/22/10 02:14 PM
Today, the lead Cabinet secretaries from the United States Interagency Council on Homelessness (USICH) – from the Departments of Housing and Urban Development (HUD), Labor (DOL), Health and Human Services (HHS), and Veterans Affairs (VA) – joined Executive Director of the USICH Barbara Poppe to announce and submit to the Congress and the President the nation’s first complete strategy to stop and end homelessness. Domestic Policy Council Director Melody Barnes accepted the proposal on behalf of President Barack Obama.
The USICH is chaired by HUD Secretary Shaun Donovan and the Vice Chair is Labor Secretary Hilda Solis. The small member agencies … (0 comments)
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mortgage news: Wells Fargo Reports May 2010 Modification Activity - 06/22/10 01:51 PM
DES MOINES, Iowa, June 21, 2010, Wells Fargo said today that since the beginning of 2009 through May 31, 2010 the company has done 498,860 active trial and completed modifications through the government’s Home Affordable Modification Program (HAMP).There were a total of 412,102 non-HAMP trial and permanent modifications and 86,758 HAMP active trial and permanent modifications, including 40,759 permanent modifications.
In the first quarter of 2010, about 92% of Wells Fargo’s borrowers were current on their mortgage payments, according to the May 21 edition of Inside Mortgage Finance, and the firm's default and foreclosure rates were about three quarters of that … (3 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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