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$5,000 Principal Reduction

Posted in Mortgage Modification, Principal Reduction

If you got a HAMP or Making Home Affordable modification, you will be receiving an additional $5,000 principal reduction. Republicans in...

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Servicers Make More Money By Modifying Than By Foreclosing

Posted in Mortgage Modification

Thanks to Martin Andleman and Mandleman Matters Why Does Ocwen Want to Modify Loans? Answer: Because they profit by doing so.   In case...

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Modification on Rental

Posted in Mortgage Modification

It is harder to get a mortgage modification on a rental property than it is on an owner occupied property. The rules are not as clear. You...

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Making Home Affordable Continues

Posted in Mortgage Modification

HAMP continues aiding borrowers Three firms still fall short in meeting servicing goals. Thanks to Housing Wire. Kerri Ann Panchuk...

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Rental Property Modification

Posted in Mortgage Modification

This is a rental property modification. Ocwen was the servicer, and the investor was Washington Mutual and now Chase. The owner quit...

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$157,105 Wells Fargo Principal Reduction

Posted in Mortgage Modification, Principal Reduction

JS is a hard working taxi driver. He came to us after a financial hardship, including a divorce. Ocwen is his servicer, however, the...

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Wells Fargo – 3 Year Modification

Posted in Mortgage Modification

It is a long story, which I will tell later. For now I will just share the link with you and tell you that this modification took three...

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Principal Reduction Modification

Posted in Mortgage Modification

We just negotiated this excellent modification with Bank of America. The interest rate was reduced to 2.0%. The principal balance was...

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Low Modification Approval Rate

Posted in Fannie Mae, Mortgage Modification

This post comes from Martin Andelman. The low approval rate on modifications Martin discusses is the main reason why you should hire an...

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Eminent Domain To Modify Loans

Posted in Mortgage Modification

A City Invokes Seizure Laws to Save Homes Peter DaSilva for The New York Times  Thanks to New York Times. Robert and Patricia Castillo...

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Fannie and Freddie Loosen Modification Guidelines

Posted in Fannie Mae, Mortgage Modification

FHFA expands suite of loan mod tools By Kerri Ann Panchuk • March 27, 2013 • 9:00am Servicers dealing with loans guaranteed or owned...

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Lenders Lie to Modification Applicants

Posted in Mortgage Modification

We have found that Lenders often take advantage of those who apply for modification on their own. Lenders tell them they have not received...

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