The Obama administration and all the agencies at its disposal are working around the clock to save troubled loans but it is simply not good or fast enough.In the third quarter there was a 6.2% rise of all seriously delinquent (i.e. 60 days or more past due) and 3.2% increase of all loans in the process of foreclosure.What is even scarier is that even prime mortgages, … [Read more...] about Loan Modifications Cannot Stop the Rise in Foreclosures
Archives for December 2009
This is the question administration consultants and officials are asking themselves. After using every trick in the book and more to â€œencourageâ€, â€œbribeâ€ and â€œbullyâ€ servicers in providing loan modifications, loan modification conversion rates are still terribly low.Ineligible Applicants.Some have reasoned that the reason loan modification conversion rates … [Read more...] about Loan Modification Low Numbers, Why?
What is a NPV test?If you are trying to work your way through a loan modification you know what it is, if you are planning to get a loan modification you should find out soon.NPV stands for Net Present Value. It is a financial concept that allows lenders to work out if it is profitable to make a certain financial choice. In the case we are currently considering banks … [Read more...] about Loan Modifications, NPV Test the Key to Loan Modification Success
Loan Modifications have been touted as the solution to all evils brought about by the latest economic crises and as the worst idea an administration has ever had.The administration shouts out that the whole point of Loan Modifications is to help the middle class by giving them a break on their underwater mortgages while many commentators claim that it is just one more ploy … [Read more...] about Loan Modifications, A Loose, Lose Story With No Winners
It is no secret that the Obama administration has a lot vested in the success of the Loan Modification Program, also called the Home Affordable Modification Program (H.A.M.P). In order to help the program along the government has provided a long list of incentives, bonuses and other methods in order to encourage lenders and banks to do their part in making the program … [Read more...] about Loan Modification Administration Hawks Bring Out the Big Guns