News Topic: mortgage modification

Hooray! We have a Mortgage Settlement - $26B worth but who gets help and where does the rest of the money go? NO ONE KNOWS yet, and no one know who is covered and will get assistance of any kind! ... Read full article

Lien Stripping in Chapter 13 Bankruptcy For our readers playing along at home, the basic rule with mortgage modification in bankruptcy is as follows: first mortgages on a debtors primary residence cannot be modified by filing for bankruptcy, however, ... Read full article

Over 40 states have already signed on to the sellout deal the corrupt politicians negotiated, so they could run for office beating their chests bragging about their tremendous accomplishment, with their mortgage company liege lords, who should have ... Read full article

The Wall Street Journal in its February 5-6, 2011 edition had an article by David Benoit, entitled "BofA Sets Mortgage Cleanup Unit". The article about Bank of America was in the middle of the "B" ... Read full article

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Rep Randy Neugebauer, Chairman, House Financial Services Oversight Subcommittee, said it is time for the government to admit its foreclosure prevention efforts are a failure and should be shut down. ... Read full article

In cases where a homeowner is drastically underwater, the Bankruptcy Code gives chapter 13 debtors the ability to forcibly modify a second mortgage and thereby reduce their housing costs. As the real estate crisis continues to linger, many consumer ... Read full article

The rock classic “American Pie” was inspired by the tragic death of three rock-n-roll greats, Buddy Holly, Ritchie Valens, and Big Bopper Richardson, in a plane crash on February 3, 1959. Don McLean famously coined the term “The Day the Music Died” to ... Read full article

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In cases where a homeowner is drastically underwater, the Bankruptcy Code gives chapter 13 debtors the ability to forcibly modify a second mortgage and thereby reduce their housing costs. As the real estate crisis continues to linger, many consumer ... Read full article

In response to the nationwide real estate crisis, the Obama Administration unveiled the Homes Affordable Modification Program (HAMP) in 2009 as part of the more comprehensive Making Home Affordable (MHA) Program. HAMP was initially funded with $50 billion ... Read full article

While the finger pointing continues little is being done by the President and Congress to stem the tide of rising foreclosures.  The Brookings Institute examines three alternative plans on how the government might actually fix the mortgage mess. The first ... Read full article

Many homeowners applied for HAMP modifications through The Home Affordable Modification Program in hopes of avoiding bankruptcy. But then they discovered that mortgage servicers are horribly slow in processing the paperwork. Plus, the mortgage companies ... Read full article

Although her home appears to be in Sherman Oaks, California, the petition states that she has at least had a residence in Nevada for 91 days or more.  Her bankruptcy attorney should get a gold medal for only charging a celebrity $2,500 for a Chapter 7 ... Read full article

THANKS … to the Federal Trade Commission in Washington, DC, for kindly providing much of the information in this article. The possibility of losing your home to foreclosure can be terrifying. The fact that scam artists are preying on desperate homeowners ... Read full article

Can You Modify a First Mortgage in Bankruptcy? Nope. While there have been rumblings about new legislation that would allow first mortgages to be modified in bankruptcy, the current state of the law does not allow first mortgages to be modified on a ... Read full article

"Making Home Affordable", Loan Modifications, Loss Mitigation, " HAMP ", "HARP" "HASP" - all are programs of one type or another to help homeowners from losing their house. They are not working very well as detailed ... Read full article

The Wall Street Journal in its February 5-6, 2011 edition had an article by David Benoit, entitled "BofA Sets Mortgage Cleanup Unit". The article about Bank of America was in the middle of the "B" ... Read full article