Loan Modification

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Many San Diego home and condo owners face property tax hike

Tuesday, June 3rd, 2014

During the real estate slump that bottomed out about five years ago, homeowners experienced a depressing decline in the value of their home. About the only good news was that in many cases, their property taxes went down. But now, especially after property prices went up on average about 17 percent last year for San […]

Avoiding Foreclosure: Your Options

Tuesday, July 20th, 2010

As your debts loom and your monthly mortgage falls behind, you might think that foreclosure is your only way out. Happily, that’s not the case for most homeowners. Depending upon your individual circumstances, you have plenty of other options, many of which are outlined below. Refinancing If you have enough equity in your home and […]

Making Home Affordable: Your Options

Tuesday, July 6th, 2010

Recognizing that millions of Americans have lost or are in danger of losing their homes, the government has created a program with four options that may help you. The HAFA program, which simplifies short sales, is the most suitable for homeowners who do not feel that a loan modification or refinancing will provide an acceptable […]

GSEs Release HAFA Guidelines

Tuesday, June 15th, 2010

Government Sponsored Enterprises (GSE) Fannie Mae and Freddie Mac last week released guidelines for implementing the Treasury Dept.???s Home Affordable Foreclosure Alternatives Program (HAFA).?? The new guidelines apply to loans owned or guaranteed by the GSEs; servicers are required to implement the new policies no later than Aug. 1.?? While largely consistent with the HAFA […]

President Obama Offers Up $75 Billion Foreclosure Life Line

Friday, February 20th, 2009

President Obama announced Wednesday that he will be making $75 Billion available to help 9 million homeowners who are facing foreclosure.?? Obama declared the need for drastic action in the face of the growing economic crisis and stated that the funding will help to keep the housing crisis from wreaking further havoc on our already […]

Freddie Mac Is Opening The Doors To Workouts On At Risk Loans

Friday, February 6th, 2009

Freddie Mac??is opening it’s doors to??the influx of borrowers requesting loan modifications or other workouts.?? Freddie will be employing the help of third party servicers to help service Alt A and other types of High Risk Loans.?? The new plan will help keep at-risk borrowers in their homes and avoid foreclosures. Under the new program […]

Could A Bankruptcy Judge Fix Your Home Loan?

Wednesday, February 4th, 2009

One of the most powerfull allies of a distressed homeowner facing foreclosure, might be a Bankruptcy Judge if the House and Senate have their way in new legislation allowing judges to “cram down” home loans. In Bankruptcy proceedings the terms of every loan is fair game for a judge to adjust except for the loan […]

Top US Banks Offering Loan Modification Packages

Wednesday, January 28th, 2009

Major US lenders have??announced they are aggressively reworking mortgage loans to help homeowners remain in their homes.?? The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac loans, along with the HOPE NOW alliance of lenders, launched a “Streamlined Modification Plan”??in December. IndyMac Federal Bank also announced a systematic and streamlined loan modification […]

Pitfalls to Avoid during the Loan Modification Process

Thursday, January 22nd, 2009

A Loan Modification is a valuable tool in helping homeowners get back on track with their loans and protect their homes from foreclosure, but often even after a loan modification people end up right back where they were, and sometimes even worse.?? In fact, more than half (55%) of loans modified in the first nine […]

San Diego Foreclosure Numbers Decrease Partly Due To Loan Modifications

Monday, January 19th, 2009

San Diego continues to have a large foreclosure inventory, giving potential San Diego homebuyers and investors great buying opportunities. There are currently 3,596 San Diego bank-owned properties as of January 14th, 2009. Buyers have been taking advantage of low prices and distressed properties-the current number of 3,596 has been decreasing over the last few months. […]

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