mortgage modification

Mortgage Settlement - Not For Everyone

02/13/12

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!
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Mortgage Settlement - Not For Everyone

02/13/12

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!
[more]

E.D.N.Y. Approves Debtor’s Chapter 20 Lien Strip

02/11/12

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, second, third and other junior liens can be modified or “stripped” by filing for Chapter 13 [...]

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The World’s Worst Ever Sellout – Is Your State In?

02/08/12

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 already started their prison terms, to get them off the hook for the greatest financial crimes in our history.

Just in case you wonder where I stand.

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Proposal Would Allow Chapter 13 Debtors to Pay Zero Percent Interest on Their Underwater Mortgage

12/21/11

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 advocates have been vocal in supporting proposed legislation that would extend bankruptcy’s mortgage modification power to [...]

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Proposal Would Allow Chapter 13 Debtors to Pay Zero Percent Interest on Their Underwater Mortgage

12/21/11

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 advocates have been vocal in supporting proposed legislation that would extend bankruptcy’s mortgage modification power to [...]

[more]

Seeking Mortgage Modification? The Federal HAMP Program Explained

08/17/11

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 in Wall Street bailout money and $25 billion from taxpayer-owned Fannie Mae and Freddie Mac. According to [...]

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Three Plans For Fixing the Mortgage Mess

08/12/11

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 solution proposed by Eric Posner of the University of Chicago Law School and Luigi Zingales of the Booth School [...]

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How Does Bankruptcy Affect Your Eligibility for HAMP?

08/04/11

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 will not even acknowledge that they received the documents, pushing homeowners closer and closer to bankruptcy. As a result, many [...]

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