loan modification: Hope for Home Owners - Still Nothing to Write Home About
- 02/03/09 08:38 AM
I came across this quote from Abraham Lincoln today: "How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg, doesn't make it a leg." The same way that calling a program "Hope for Homeowners" does not mean that the program actually offers any hope to homeowners. According to everything I am reading and hearing, the "Stimulus Bill," has provisions to make the Hope for Homeowners program more usable than it currently is. At the same time, calling a bill "Stimulus" doesn't make it so either. I am sure many people already … (7 comments)
loan modification: Lenders Reluctance to Use “Hope for Homeowners” Program Leads to Changes
- 01/19/09 04:17 PM
Roland Carillo, Manager of Van Dyke Mortgage in North Carolina wrote this blog that more or less agrees with what I said in October that caused a pretty heated exchange. In late November I also went into the changes Roland talks about here. All in all, the only loans I know of being made under the H4H program are those being made "in house." In other words, companies like Wells Fargo will only make a H4H loan to one they already own. Even with the changes, H4H is not showing much progress in helping people. I normally close out comments on … (8 comments)
loan modification: Oregon State University Extension Service helps people in Tough Times
- 01/14/09 06:20 AM
Helping people that are having trouble, not just with making their mortgage payment on time, but puting food on the table or buying gas for their car is something that we all should be concerned with. Oregon State University has established links on the Extension Service website to do just that. There are a lot of groups available to help in times of need and I know there are people in need. I hope these links will help them. This was posted on my website today. While listening to my wake up music this morning on KKNU Radio, Tracy Berry, … (2 comments)
loan modification: Loan Modification Question - Hopefully a Happy Ending
- 12/11/08 10:36 AM
I posted last week about a homeowner in the Northeast that had lost his job and trying to work out a program with his mortgage holder, CitiMortgage, and running into difficulty. I asked if anyone had any suggestions as to ways he could work some type of loan modification because he was current with his loan and had enough reserves to stay that way for some time but he was thinking of the future and didn't want his credit to suffer or become delinquent. Well, the only viable solution that came from the post was to get an attorney to help … (14 comments)
loan modification: Loan Modification Question, How Can You Get Help If You Value Your Credit?
- 12/07/08 04:26 AM
Loan Modification has been my cry for some time. I believe it will do more to help us get out of the foreclosure mess than almost anything else under consideration. However, mortgage loans that are not delinquent and/or on the verge of foreclosure and being forgotten. I got this e-mail this week because of a post that I did on loan modification and honestly don't know what to do for this person. If anyone has any ideas, I would appreciate hearing from them with ideas: I was wondering if you could by any chance provide me some advice or lead me … (51 comments)
loan modification: Modifications made to Hope for Homeowners (H4H), may assist in stopping more foreclosures
- 11/24/08 02:39 PM
The HOPE for Homeowners (H4H) loan modification program was changed last week by HUD. HOPEfully, these changes will invigorate the program with the jumpstart that it needs to make it more viable. Possibly it will become the way to help more distressed borrowers refinance into affordable, government-back mortgages that it was designed to do. Foreclosure avoidance is possible. At the risk of gathering the ire of Jeff, the Mortgage Man, again, I didn't think the program would work the way it was written and it hasn't. HUD is already making changes to the program because they had only received 111 application nationwide according to a recent blog by CNBC's Diana … (10 comments)
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I came across this quote from Abraham Lincoln today: "How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg, doesn't make it a leg." The same way that calling a program "Hope for Homeowners" does not mean that the program actually offers any hope to homeowners. According to everything I am reading and hearing, the "Stimulus Bill," has provisions to make the Hope for Homeowners program more usable than it currently is. At the same time, calling a bill "Stimulus" doesn't make it so either. I am sure many people already … (7 comments)
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