Loan modification

Loan modification

Loan Modification Scams And The Law, A Brief Overview

Last week was National Consumer Protection Week and the Government wanted to make the most of the heightened awareness to publish some general guidelines and advice. One of these releases was made by Florida Attorney General, Bill McCollum, on the issue of loan modification scams. This issue is right at the top of the list [...]

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Government Greases the Wheel. Finally.

News flash (and it is really a news flash): the federal government is stepping into the 21st Century but not until after the first of the year. Hey, it's a start. As mortgage loan and loan modification applications are reviewed by lenders, one vexing bit of paperwork has always been the IRS form 4506-T. This [...]

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Loan Modification Rules for the Self Employed

When a self employed borrower applies for a loan modification the lender will document the request in a similar manner compared to someone not self employed. An underwriter will review current monthly income and attempt to establish a lower rate that will provide a more affordable payment. The lender will use a standard debt to [...]

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Read the Big Print

When you spend time and effort getting mortgage rate quotes from lenders it's not exactly a fun thing. In fact, it can be compared to a trip to the dentist to get a tooth pulled. Well, maybe not getting a tooth pulled but close. At least you're in the dentist's office. Or so it seems. [...]

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Will a Co-Borrower Help With a Loan Modification?

If you're in the process of modifying your home loan and your lender has said that your debt ratios are too high, can you get someone to co-sign with you to help bring those debt ratios in line? Part of the loan modification review is determining how to get your debt to income ratio within [...]

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