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 […]

Keep The Lines Of Communication Open

Thursday, December 11th, 2008

It doesn’t take long for your lender to contact you once you start to fall behind in your payments. Your lender will be eager to learn about your circumstances, and find out if you will be able to resume regular payments and how soon. It is very important you take any calls from your lender, […]

DEED IN LIEU OF FORECLOSURE

Thursday, December 11th, 2008

An alternative to foreclosure that can benefit both Homeowners and Lenders Due to tough economic times, an increasing number of property owners are facing a mortgage foreclosure. An option in some cases is to offer the lender a deed in lieu of foreclosure instead of a short sale or foreclosure, but what is a deed […]

HUD PUBLISHES LIST OF HOPE LENDERS

Thursday, December 11th, 2008

This week’s announcement puts the list at 67 and growing HUD has released a list of lenders who will be participating the HOPE for Homeowners Program that they hope will help as many as 400,000 distressed homeowners avoid foreclosure by refinancing their adjustable rate loans to new 30-year fixed rate mortgages that will be insured […]

Reap The (Tax) Benefits of Homeownership

Thursday, December 11th, 2008

One of the many benefits of owning your own home is taking advantage of more deductions on your tax returns. For the majority of homeowners, this mainly includes deducting interest expense and property tax each year. For the home used for businesses or investments, the tax rules become more challenging. To learn more and about […]

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