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Dennis Norman Earlier this week the Treasury Department released it’s eight “Tranche” report updating the status of the TARP (Troubled Asset Relief Program) which includes the Home Affordable Modification Programthat I have written about on several occasions. The report shows that progress is being made with regard to loan modifications with $27.07 billion, of the $50 [...] To alleviate some suffering by homeowners, the Obama Administration introduced the “Making Homes Affordable” plan last March. Unfortunately, the plan has not yet had the intended effect. Article by the Grand Law Firm Economists debate whether or not the country is actually currently in a recession. Some say that there are positive signs that we have reached [...] Dennis Norman Included in the “Making Home Affordable” program from the Obama administration is the “Home Affordable Modification Plan” (HAMP) designed to help 3 to 4 million home owners by modifying their existing loans to help them be more affordable. Dennis Norman A surge in litigation tied to real estate appraisals, loan modifications and foreclosures contributed to a 54 percent increase in mortgage-related lawsuits, according to the second quarter Mortgage Litigation Report from MortgageDaily.com. During the second quarter, 125 cases were tracked, jumping from an already active 81 first quarter cases. The second quarter of 2008 had just 42 [...] Wells Fargo recently announced that, in the first half of 2009, through lower rates, refinances and modifications, it alone has helped nearly one million American homeowners lower their mortgage payments or restructure their mortgages. Included in the loan modifications were: Approximately 750,000 loans refinanced using the Home Affordable Refinance Program (HARP) Dennis Norman By: Dennis Norman Today Freddie Mac posted a new video on You Tube that shows borrowers that cannot afford their current mortgage payments how to properly approach their lender to see if they qualify for a loan modification under the Making Home Affordable Program, or under one of Freddie Mac’s other workout programs. According to Freddie [...] Dennis Norman By: Dennis Norman Today the Office of the Comptroller of the Currency (OCC) and the Office of the Thrift Supervision (OTS) released their mortgage metrics report for 1st quarter 2009. The report covers the performance of 34 million home loans in the US. The report shows that delinquencies and foreclosures continue to increase during the [...] By: Dennis Norman
The Office of the Comptroller of the Currency and the Office of Thrift Supervision issed a report on mortgage performance which showed an increase in delinquencies, foreclosures in process, and other actions leading to home forfeiture but offered a little ray of light with a drop in “newly initiated” foreclosures by 2.6% from the [...] |
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