Financially distressed homeowners with Freddie Mac mortgages will have a new option for loan modifications beginning next month. The new option, called a Standard Modification, is designed for borrowers who are ineligible for a Home Affordable Modification Program (HAMP) loan modification or have previously defaulted on...

[caption id="" align="alignright" width="300" caption="Solutions"][/caption] Under a settlement with the Federal Trade Commission, a federal court banned three men and their company from the mortgage modification business and ordered them to pay nearly $19 million for consumer refunds. The defendants allegedly deceived distressed homeowners with phony...

Dealing with loan servicers and current mortgage rates. Tips for borrowers dealing with loan servicersMany homeowners have experienced difficulties and frustration getting through to their loan servicer when trying to obtain a loan modification.  To help alleviate some of the stress associated with this task, an...