Loan Modifications have been put forward as the great savior of the current credit crisis. Whether this is true or not is a matter of debate. I personally feel that dealing with a credit crisis by trying to fix mortgage issues is not going to deal with the big picture.Nevertheless it is a fact that many are benefiting from the taxpayer subsidized loan modifications that are … [Read more...] about Loan Modifications: 6 Ways Not To Become A Statistic
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Providing loan modifications to those that need them and are eligible according to the current criteria is the goal of the cash happy loan modification aid program.The goal is to keep out scammers and those who wish to take advantage of the system while not letting the â€œdeservingâ€ fall through the cracks. This is an ambitious goal. As we have discussed in previous blogs … [Read more...] about Loan Modifications Eligibility Criteria, The Rules Explained.
The Obama administration loan modification is out to help those that can help themselves not lost causes that is the claim anyway. The idea is not to bail out greedy homebuyers that took more than they could chew.That is all very good in theory but how do you regulate that in practice? Not easily. Especially when those that â€œdeserveâ€ the loan modification could fall … [Read more...] about Loan Modifications Questions: escrow analysis, unemployed homeowners and upfront premiums.
Loan modifications are complex animals not because the concept behind them is complicated but because of all the elements that compose it and the various options and permutations of these options that must be decided. The jargon linked to loan modifications can also make it a challenge to understand the instructions you read in the literature.This series of articles â€œLoan … [Read more...] about Loan Modification Questions: Escrow advances, Partial Claims and Interest Rates.
If you are considering taking on a loan modification the chances are this is your first loan modification and you have many questions you need answered. The problem when you are doing something for the first time is that often you donâ€™t even know what are the smart questions to ask. This series of articles on Blown Mortgage is designed to ask the questions you should be … [Read more...] about Loan Modifications Questions: Fees, Inspections, Late Charges And Other Concerns