On December 14, Fannie Mae and Freddie Mac announced the launch of the Flex Modification Program, which will replace the soon-to-expire Home Affordable Modification Program or HAMP®. The new foreclosure prevention program will begin on October 1, 2017, offering a 20% reduction in monthly mortgage payments for struggling homeowners. Applying for a loan modification? This … [Read more...] about Meet Freddie and Fannie’s HAMP® Replacement, Flex Modification
It is never a pleasant feeling to think that you owe more on your mortgage than your home is worth, but you are not alone. Millions of Americans have suffered this scenario and lived through it! You have options; you just need to know what they are. The first thing to check is if you are eligible for HARP®. If you are not, there are other options – they might not be as pleasant … [Read more...] about Your Options for an Underwater Mortgage
Okay, I get this. You missed a mortgage payment. Then you missed another. Then you got a certified letter from your lender reminding you (as if you didn't know) that you missed two payments. Officially, that's called a Notice of Default, or an NOD, the precursor of the ForeclosureBot. When you miss your next payment then it begins to get really serious. Both on your part and … [Read more...] about Hold the Foreclosure Fone
If you've decided that a loan modification is in your best "interest" or are simply exploring the possibility, realize that wile most lenders follow similar protocol for a loan modification request there can be some differences. That said, you're really not worried about what other lenders do when accepting and reviewing a loan mod request, you're only concerned about YOUR … [Read more...] about Wait, what? Who?
A warm welcome to BlownMortgage.com! We are among the most trusted free home loan modification, debt relief and independent mortgage industry commentary sources online. We have fiercely and successfully been helping fellow homeowners facing economic hardship or foreclosure since 2006. We are honoured to have been named to be among the Top 3 influential Mortgage Blogs in … [Read more...] about Free Home Loan Modification Help For Homeowners