Feldman Law Center – News by Feldman Law Center – “It’s a jungle out there, kiddies…” ? Jimmy BuffetJimmy Buffet wasn’t talking about the home loan modification process, but he could have been. For home owners attempting to pick their way through a loan modification on their own, the experience is not much different than [...]
Continue reading...Saturday, November 7, 2009
Very often, when someone contacts a loan modification attorney they really do not understand how the foreclosure process works or how to stop it. People who do not understand foreclosure proceedings are often scared, timid and unwilling to do what it takes to stay in their homes. Many think that if they just ignore their [...]
Continue reading...Thursday, November 5, 2009
A retiring Chicago city employee had her home loan with CitiMortgage modified to 2 percent on a 40 year amortization and granted a two month payment holiday to rebuild reserves. Her husband has social security and a small pension but She was facing a large drop in pay as her retirement date of June 30, [...]
Continue reading...Monday, November 2, 2009
Obama’s loan modification plan is available for borrowers facing financial hardship and at risk of losing their home. Under this program, your home loan could be revised so that your monthly payment is reduced to an affordable amount. The goal is to keep families in their homes, stop foreclosures and allow the economy to recover. [...]
Continue reading...Sunday, November 1, 2009
Obama’s loan modification plan is available for borrowers facing financial hardship and at risk of losing their home. Under this program, your home loan could be revised so that your monthly payment is reduced to an affordable amount. The goal is to keep families in their homes, stop foreclosures and allow the economy to recover. [...]
Continue reading...Friday, October 30, 2009
Recently, there has been great debate over whether foreclosure rescue acts or stimulus packages can really help American homeowners. Thus, the political struggle involved includes a battle between bankruptcy lobbyists and the big banks and lenders. With politicians moderating the battle of the two, American’s are often left out in the cold on what these [...]
Continue reading...Thursday, October 29, 2009
There is a lot of talk today about unfair loan modifications. In this economy, mortgage loan modification is a good option for many people struggling to repay their debts, but reports of predatory modification companies have some homeowners afraid to act.
Continue reading...Monday, October 26, 2009
It could be as low as 2% on a 40 year amortization. Your modified payment will depend primarily on your Current Income. Therefore, lower income means lower rates. Interestingly, the traditional risk variables that would ordinarily determine your interest rate when applying for a loan are turned on their head with the Making Home Affordable [...]
Continue reading...Monday, October 26, 2009
Obama’s loan modification plan is available for borrowers facing financial hardship and at risk of losing their home. Under this program, your home loan could be revised so that your monthly payment is reduced to an affordable amount. The goal is to keep families in their homes, stop foreclosures and allow the economy to recover. [...]
Continue reading...Monday, October 26, 2009
Almost every lender/servicer cautions homeowners against paying third parties to assist with their loan modification applications. Every participating lender in the Making Home Affordable (MHA) loan modification program is capable of working directly with their borrowers to process these applications without third party assistance. There is also free government loan counseling help for homeowners that [...]
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Sunday, November 8, 2009
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