- Dennis Norman
In an effort to help delinquent borrowers obtain Loan Modifications under the Affordable Refinance Program of the Making Home Affordable Program Freddie Mac has hired a company to come to borrowers homes and help them put together the documents and complete other actions needed to begin their three-month trial payment periods under the Affordable Refinance Program.
The company hired by Freddie Mac, Titanium Solutions, will target late-paying borrowers with Freddie-Mac owned mortgages who have not responded to letters or phone calls from their lenders or those who have responded but need to provide additional information or documents to launch their three-month Home Affordable Modification trial period. Titanium will also help those borrowers who have started their trial periods complete the documentation process to enable them to be converted into final modifications.
Borrowers should be on the lookout for fraud by imposter’s though. Titanium Solutions representatives will NOT accept mortgage payments nor any other MONEY from borrowers, so if someone shows up at your door saying they are from Titanium and ask you for money or a payment, call the police. Actual Titanium representatives will have a copy of the letter you originally received from your lender about the loan modification. These letters are specially formatted and include unique information about your loan that scammer’s shouldn’t have access to.
For more information about Freddie Mac efforts to help borrowers and support Making Home Affordable, visit freddiemac.com/avoidforeclosure.
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There’s so much misinformation out there that people don’t really know what is and is not. It’s refreshing to see people that know what they’re talking about. You have an Informed commentary seems to be a rare commodity these days. Keep it coming.Loan Modification
Thanks for the nice comment Brandon
Turned down 8 times by GMAC / Freddie Mac 21st time I made to much the next 6 times I didn’t make enough the last time made to much again. They don’t care about nothing but the bottom line. $3100.00 a month and never late since it went up from $1500.00 It’s a joke!
R.D. Moore
The article was good! (1st time not 21st in previous post) I just wish there was help for consumers that are not past due. I am a real estate agent and see the lenders do things that just don’t make since.
Thank you
R.D. Moore
R D
Thanks for your comments, I can only imagine the frustration you are feeling…unfortunately I’m hearing a lot of stories like yours…it doesn’t seem the program is running so smoothly….
As far as a program to help borrowers that are current on their mortgage, that is the HARP program…for this program you must be current and your loan balance has to be equal to 125% of the value of your home or less…I wrote a short article about it a while back at:
http://realestateconsumernews.com/financing/fannie-mae-and-freddie-mac-increase-ltvs-on-home-affordable-refinance-to-125/
The post has a link that will take you to more info….Good luck….If you do pursue this, I would love to hear back on how it goes…
Have a good weekend, Dennis