loan modification: New bankruptcy law could lead to more loan modifications
- 03/09/09 12:33 PM
There is a lot of buzz going around right now regarding the new bankruptcy legislation. If you have not heard, this legislation is set to allow bankruptcy judges the authority to modify loans on primary residences. While the banking industry is opposed to this legislation, I don't see any way it does not get put into effect. This bankruptcy legislation is referred to as a "cram down" by the banking industry, but truly it will help to stabalize the real estate markets. Currently homeowners are at their lenders mercy when seeking a loan modification. From my experiences and conversations, the lenders … (1 comments)
loan modification: Loan Modification Resources
- 12/02/08 07:59 AM
With all the talk about loan modifications, I decided to start putting together some resources for those looking to do their own loan modification. There are a number of companies out there today that will attempt a loan modification on your behalf for a fee, but for those who want to do it themselves, I've found resources to be somewhat slim. I've put together a list of loss mitigation contacts and phone numbers. This is a pretty good sized list, with many of the major lenders included. Phone numbers change for these loss mitigation departments, and I have listed multiple numbers … (0 comments)
loan modification: Loan Modifications
- 11/13/08 11:58 AM
Loan modifications are the new buzz among real estate professionals and homeowners in distress alike. With the current financial mess, and the continued slide in the real estate markets, banks are now starting to ramp up efforts to keep homeowners in their homes. Financial institutions don't want to foreclose on your house. It costs them time and money, and they would greatly prefer to have a borrower who can make their mortgage payment. With the recent destruction of the housing market, though, many borrowers don't have options previously available. If you lost your job three years ago and could not make … (0 comments)
Hard money loans are an alternative form of financing. We explore the real estate world and options that hard money lenders can bring to the table.
Chris Goulart, DRE Lic. # 01458390 NMLS Lic. # 298819 DWJ CA Broker Lic. # 01180522
There is a lot of buzz going around right now regarding the new bankruptcy legislation. If you have not heard, this legislation is set to allow bankruptcy judges the authority to modify loans on primary residences. While the banking industry is opposed to this legislation, I don't see any way it does not get put into effect.
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