Recessions happen. 2011 is more than that. America is faced not only with millions feeling anything from a pinch to a punch, but a subsequent cultural shift. How many times have you heard, "Oh, we used to ______(insert fun here)_________, but with the economy the way it is_____(insert feeling of loss and sadness)__________.
There are three things going on here, right? Things have happened in your life financially and you haven't dealt with them. You are experiencing the results of this in your attitude and emotions. Your situation plus your attitude is creating fear and lack. … (1 comments)
hamp: Bank Of America Leads the Pack on Modifications
- 04/19/10 04:33 AM
In the midst of negative criticism, the HAMP (Home Affordable Modification Program) approved 230,801 permanent Loan Modifications to date saving on average $500 per month per Home Owner. Although market observers still note that this pace is too slow to make a significant difference, most Americans feeling the pinch wouldn't sneeze at $500 less out of their pocket at the end of the month. Leading the pack of servicers on it are is GMAC, converting 48% or 17,102 of their trial modifications to permanent. Next is CitiMortgage with 47% or 22,455. But when you look at sheer numbers Bank Of America … (1 comments)
hamp: INCENTIVES FOR UNDERWATER HOMEOWNERS EFFECTIVE 4/5/2010!
- 04/08/10 05:31 AM
A short sale or deed-in-lieu is a better option for homeowners, banks and neighbors than the expensive foreclosure process that leaves properties vacant and communities deteriorating. HAFA, which is part of the Home Affordable Modification Program (HAMP), will help homeowners who did not qualify for a loan modification under HAMP by providing incentives for foreclosure alternatives. The HAFA program also uses standard processes, documents, and timeframes which allows for a smoother short sale transaction. Participating servicers were required to implement the new HAFA guidelines by April 5, 2010. Once a borrower has been denied a HAMP modification, the servicer must consider … (0 comments)
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