Posted on March 11th, 2010, by DHW
Real estate data tracking firm, RealtyTrac, reported foreclosures fell for a second straight month in February.
The numbers
February foreclosure filings of 308,524 reflect a decrease of 2 percent from January. However, this is still a 6 percent year-over-year increase.
“The 6 percent year-over-year increase we saw in February was the smallest annual increase we’ve seen since [...]
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Posted on February 1st, 2010, by DHW
The Treasury unveiled new changes to the Home Affordable Modification Program (HAMP) that could streamline the process for homeowners.
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Posted on January 12th, 2010, by DHW
Although the numbers are improving, a third of loans modified by Fannie Mae and Freddie Mac early last year were delinquent after six months.
These loans were modified prior to implementation of Obama’s Home Affordable Modification Program.
DHW asks: Do you think loan modifications are making a difference?
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Posted on December 20th, 2009, by DHW
Just one day before the Congressional Oversight Panel criticized the government’s loan modification program as outdated and under-performing, HUD secretary Shaun Donovan reported the pace of trial modifications are beginning to exceed foreclosures. “The fact we now have a pace of trial modifications that exceeds the pace of weekly foreclosures is a very important milestone,” [...]
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Posted on December 13th, 2009, by DHW
Of the 760,000 homeowners to apply for a loan modification under President Obama’s mortgage relief program since March, only 31,000 have received permanent loan modifications. Bank of America was the worst performer of all the big lenders, completing only 98 loan modifications out of the 160,000 applications filed by the end of November. Even the [...]
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Posted on December 6th, 2009, by DHW
The Wall Street Journal published an insightful op-ed piece by Edward Pinto. Mr Pinto sees two major shortfalls with the Treasury’s attempt to modify delinquent mortgages through the Home Affordable Modification Program (HAMP).
“The first shortfall is that the program doesn’t provide a clear process to triage the over 7.5 million delinquent loans.”
“It doesn’t take into [...]
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Posted on December 1st, 2009, by DHW
Finally, relief for those seeking a loan modification, short sale or deed-in-lieu of foreclosure. Lets hope these will be the game changers we’ve been waiting for.
Update for those seeking a loan modification using Making Home Affordable (a.k.a. HAMP)
New guidelines for streamlining short sales and deed-in-lieu of foreclosures (HAFA)
This information is also available under “Modification Center”
DHW [...]
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