Purchasing a loan is very likely to be one of the most serious financial decisions you make. This is especially so if you are looking to consolidate a number of debts, or refinance a subprime (i.e. expensive) mortgage. Signing a loan, or refinancing an existing one, is often a complicated process; the jargon used is difficult to understand and the indexes and complicated terms … [Read more...] about Loan Modification Tips: How to Choose the Better Loan?
Archives for April 2010
Unfortunately nothing is free in this world; even dying costs around $5,000 dollars, for an average funeral in the US. Applying for loan modifications can be pricey also. Sadly the procedure that could save you from foreclosing on your home and even bankruptcy is also rather expensive, which scares many homeowners off, pushing them further into debt when sometimes they qualify … [Read more...] about Loan Modifications, How to Avoid Collateral Expenses
Exceptional times call for exceptional measures. That was the reasoning behind the bailout of the big banks and insurance companies. We had to swallow the bitter pill of using taxpayers money to bail out corporate America. It was after all in the interest of the American economy. However, this reasoning does not seem to apply to loan modifications.Obama's loan modification … [Read more...] about Banker’s Choose not to Swallow Obama’s Loan Modification Bitter Pill
The Treasury's report on the MHA for March explained the drop of new loan modifications as a result of banks requiring that borrowers present all relevant documentation before trial loan modifications could start. However, there could be another factor that is causing this drop in loan modifications; the rise in the number of houses banks are repossessing. Figures provided by … [Read more...] about Loan Modifications Drop; Foreclosures Rise; and Homeowners Despair
Obama's Making Home Affordable plan has relied heavily on Fannie and Freddie as key players in the government's strategy to revive the housing market. Freddie and Fanny encouraged â€“ some might say bullied â€“ servicers and lenders on their servicer lists to accept loan modification programs. This was not cheap. Bailing out Freddie Mac and Fannie Mae cost American taxpayers … [Read more...] about Loan Modifications; Obama Polls Americans on How to Overhaul Fannie and Freddie