Homeowners having trouble paying their mortgage are often required to write a hardship letter when applying for a loan modification.  Such a letter is a requirement for modification applications under the government’s Making Home Affordable program. A hardship letter is not the basis for modification approval...

In the first six months of 2012, the nation saw 385,468 completed loan modifications, a 28% drop from year-ago levels, Hope Now said. Foreclosure starts also declined 15% while completed foreclosures fell 10% from the same six-month period of 2011. Of the homeowners obtaining modifications in the first...

Federal Housing Finance Agency Acting Director Edward DeMarco will not allow principal reduction on Fannie Mae and Freddie Mac loans. "Given our multiple responsibilities to conserve the assets of Fannie Mae and Freddie Mac, maximize assistance to homeowners to avoid foreclosures, and minimize the expense of such...

Clearly, thankfully, the market is looking up. Way up, actually. In many markets, tales of multiple offers and a dearth of homes vis-à-vis the numbers of buyers who want them are becoming commonplace. Now, many analysts point to the banks' intentional decision to keep many foreclosures...

    Print Page  |   Press Release   More Than 200,000 Bank Customers May Qualify for Principal Reduction Under Government Agreement With Large Mortgage Servicers CALABASAS, Calif., May 08, 2012 (BUSINESS WIRE) --Bank of America Home Loans has begun reaching out to customers who may be eligible for forgiveness of a portion...

Chances are, you or somebody in your family was severely affected by the downturn in the housing market.  Millions of Americans have been forced into foreclosure, short sale, or bankruptcy.  Millions of other Americans struggle to pay their mortgages at inflated rates and are unable...

Major news in the short sale and housing industry! On Friday, March 9, 2012 the Obama Administration announced updates to the Home Affordable Foreclosure Alternative (HAFA) program. Created in 2009, HAFA is a government-sponsored initiative assisting all Home Affordable Modification Program (HAMP) eligible homeowners in...

The following are some your options there are more: The first program to try is called HARP home affordable refinance program, to get loan information You May Be Eligible For: You May Qualify For Some of the Keep Your Home California Programs: Based on your answers to the eligibility...