The Obama administration and the US Treasury dept are vowing to pressure the mortgage industry to administer more loan modifications as permanently modified mortgages have not kept up with the number of troubled households owning homes. While 14% of homeowners with a mortgage are facing foreclosure, only about 2% of homes applying for modifications [...]

As the number of Americans facing foreclosure of their homes, manycould be saved if only they understood the processs more. Here are some tips to protect your home.
1. Don’t ignore your mortgage problem – If you are unable to pay your mortage, dont hide from your lender. Call them and try to work [...]

According to Mortgage Bankers Association, over the past two years, 1 in 6 homes in the US have experienced mortgage distress as a result of the nation’s economic crisis, which was spurned by the housing market collapse. President Obama’s newly inaugurated administration made the housing crisis a priority and issued a loan modification program [...]

Today’s real estate market has experienced a plethora of foreclosures and bankruptcies due to several instabilities within the US real estate market. As home values continue to fall and real estate sales slow down, many homeowners are finding themselves owing more than their homes are worth in the declining market. This is often referred to [...]

I recently read an article bashing loan modification companies. The report read that loan modification companies were taking advantage of consumers by completing a financial event that any homeowner could complete and charging extraneous fees for doing so. However, the loan modification process is not as simple a process as it is being [...]

Wednesday, the US senate passed a bill that would make it easier for “risky” credit homeowners to refinance into a lower interest rate mortgage, insured by the government. The measure to allow bankruptcy judge to rewrite the mortgage terms on a primary home for bankruptcy filers failed on a [...]

The financial markets stand to benefit the most when the housing market recovers. The House of Representatives passed a new bankruptcy provision that will allow bankruptcy judges the ability to modify the mortgage terms of a bankruptcy petitioner’s primary home loan to avoid foreclosure. This provision would serve as a last option tool [...]