Mortgage | refinancing

What You Don’t Know About Mortgage DebtSearchMany people have faced mortgage debt and foreclosure in recent years. As the housing market crisis continues to challenge homeowners every day, more people are being forced into drastic measures to save their homes. Unfortunately, many people aren’t able to secure a solution in time or, worse yet, simply don’t know their rights when it comes to managing    .. more …

Importance Of Loan Modification and Mortgage Refinancing By Obama’s AdministrationSearchLoan modification and mortgage refinancing program has been started by the Obama administration for the homeowners who are not able to pay for their monthly mortgage payments on time and as the result their homes are set for the foreclosure. Under the program, the modification of current loans of the homeowners    .. more …

The Secret to Getting Approved for HAMPSearchThe best option for homeowners, who are struggling to pay their monthly mortgage payment or facing foreclosure, is to get approved for the Home Affordable Modification Program (HAMP). The HAMP program is a part of President Obama’s Making Home Affordable Program, which was created to assist struggling homeowners who have experienced financial hardship    .. more …

Step number one. Explain to your lending bank what led to your current situation, and why you need to negotiate new terms. The way to do this, is to submit a hardship letter. This is a descriptive, but to the point accounting of your current financial hardship. Tell the lending bank about your circumstances, any changes that you have made to your budget to show them that you can afford to pay them    .. more …

Obama’s 2% Loan Modification Program – Should You Modify Your Home Loan?SearchWith the dip in the US economy, it was almost certain that the housing market would be seriously impacted as well. Sales of new homes have just about come to a standstill. Not to mention the growing number of people that owned a home but are now unable to afford their mortgages due to the other effects the nation’s    .. more …

New Rules and Directives at Fannie Mae Encourage ForeclosureSearchFannie Mae, a publicly traded, government owned mortgage securities firm is discreetly pushing lenders to foreclose on homeowners that have been in delinquency for 12 months or longer – even if they are applying for loan modification of postponement. This goes against federal foreclosure prevention programs like the Home Affordable    .. more …

Home Loan Modification Requirements – Common Questions About How to Apply and QualifySearchHave questions about your home loan modification and what the requirements are for approval with your mortgage lender? It can be confusing and frustrating when you are trying to prepare your application if you do not have a good basic idea of what the program requirements are and how to apply correctly. The    .. more …

The Domino Effect of Being Rejected for A Loan ModificationSearchWhen your application as a homeowner for a loan modification is denied, the resultant domino effect can be very damaging. Here are a few of the possible consequences:How applying for a loan modification may affect your credit:There’s a strong chance that you stop making payments on your mortgage based on instruction from a staff    .. more …

Most homeowners would agree that the most important and urgent bill to pay each month is the mortgage. The credit crash and the home market crash have been primary causes of the current economic downturn. Due to this, it has been difficult for many not just to buy a home, but to keep up with payments on homes already owned. Many things can cause mortgage problems, including job loss or bad    .. more …

During the course of the past series of months, Chase has taken the opportunity presented by President Obama’s Making Homes Affordable Program to refinance countless mortgages. Although not every home owner is approved for refinancing or home loan modification when they apply for a lower rate on their mortgage, there are a number of different options available to struggling home owners.However, it    .. more …