More Signs of Mortgage Aid, Foreclosure Rescue Scams
Con artists adapt to savvy public
The FBI and the general public are aware of several mortgage aid scams that con artists tried to conduct during the beginning of the housing crisis. The White House posts warnings against many of these at makinghomeaffordable.gov, the federal Foreclosure Prevention Plan Web site.
But, of [...]
Debt Counseling | Loan Modification Part 10
Government requires you to get help
Believe it or not, there is still one aspect of the federal foreclosure prevention plan that we haven’t discussed. This particular provision should prove useful and helpful even to people who don’t need mortgage aid.
Anyone who takes part in either the Loan Modification or the [...]
Future of Your Mortgage | Loan Modification Part 9
After your personal loan is altered
By now you know that Loan Modification and Refinancing are achieved through lowering the interest rate on a mortgage. The federal foreclosure prevention plan says bankers and other lenders can lower the interest rate on a mortgage to 2 percent in order to get payments [...]
Time is of the Essence | Loan Modification Part 8
Timelines for federal aid
You should have a pretty good idea by now of whether you are eligible for Loan Modification or Refinancing through the federal foreclosure prevention plan. So, do you need to start filling out your paperwork right now?
In short, the best answer is “yes.” If you are struggling [...]
Missing Pieces | Loan Modification Part 7
Renters get left out
In Part 6 of this Loan Modification series, I covered the fact that the foreclosure prevention plan will only help with mortgages on primary residences.
That provision is designed to avoid allowing people who own multiple homes from getting federal aid on secondary properties. Unfortunately, that means if [...]
Don’t Even Try: Exemptions | Loan Modification Part 6
Not a money-making tool
In Part 5 of this series, I talked about staying away from scams and keeping your home and your money safe. But struggling homeowners aren’t the only people out there in danger of being scammed.
The government has set limitations on its foreclosure prevention plan to make sure [...]
Don’t Get Scammed! Loan Modification Part 5
Con artists seize opportunity
Many people who want to take advantage of the federal Foreclosure Prevention Plan will need a professional to guide them through the process. There is a dearth of legitimate operations out there to provide people with this kind of help.
There are also plenty of con artists who [...]
How Does the Government Help? Loan Modification Part 4
How Foreclosure Prevention Works
So, if you’ve read Part 1 of this series, you know whether you are eligible for the government’s Loan Modification program. If you’ve read Part 2, you know whether you qualify for Refinancing. Part 3 got you ready to provide proof of hardship.
But mortgage refinancing has been [...]
Providing Proof of Hardship | Loan Modification Part 3
After you determine you’re eligible
If you’ve read Part 1 and Part 2 of this series, you should already have a pretty good idea of whether you are eligible to take part in the federal Foreclosure Prevention Plan.
You also know that part of the process is including proof of hardship. This [...]
Eligible for Government Refinancing? Loan Modification Part 2
Struggling but not behind
In Part 1 of this Loan Modification series, I talked about the first part of the government’s Foreclosure Prevention Plan. The modification program is available to homeowners who are already three months behind on their mortgage.
If you are not behind on your mortgage but are struggling to [...]
Getting Started: Determining Eligibility | Loan Modification Part 1
Find out if you qualify
You might have recently read the news about the White House administration’s new Foreclosure Prevention Plan. The government has written new policies that make getting the terms of your mortgage changed easier than ever.
First, however, you must make sure you are eligible to take part in [...]
Using Loan Modification to Stop Foreclosure
Facing threat of foreclosure?
If you believe you might be facing the threat of foreclosure then it’s not too late to save your family’s home. Mortgage holders who are more than 90 days in arrears on the mortgage repayments are able to apply for a loan modification that can help to [...]
Makinghomeaffordable.gov Offers Loan Modification Help
Government launches web site
In order to make its new foreclosure prevention plan easier to use, The Obama White House has launched makinghomeaffordable.gov. The web site answers questions about eligibility, helps people contact loan servicers and offers many other resources.
Help and advice
The web site offers free help for homeowners, but it [...]
Wells Fargo Mortgage Rates Bring in Business
Bank uses TARP right
Wells Fargo Mortgage rates are at historic lows. The bank’s 4.89 percent interest rate sent it to the No. 1 spot on the list of new mortgages. Furthermore, Wells Fargo took bailout money from the Troubled Asset Relief Program and used it for its intended purpose: to [...]
Foreclosure Filings Not Easing Up
More homes seized in February
It appears President Barack Obama’s foreclosure prevention plan came too late for some. Foreclosures in February this year were 30 percent higher than last year. A total of 290,631 homes received a default or auction notice, and that includes 161,976 households that were notified for the first time, [...]
Freddie Mac Comes Back for More Bailout
Mortgage company needs more funds
Freddie Mac, a company that has already received billions of dollars of government funding, is asking for another $30.8 billion from the U.S. Treasury.
Right now taxpayers own 79 percent of the company, after the government moved the company into conservatorship in September.
Troubled times
Freddie Mac says it [...]
BREAKING: Homeowners Can Seek Help From Federal Refinance Program
Foreclosure fix finished
Mortgage holders who are facing foreclosure can now take advantage of the government’s personal loan modification program.
President Barack Obama and his administration have launched their $75 billion foreclosure prevention program. Borrowers can contact loan servicers right now to access benefits.
Plan reduces monthly payments
The plan is expected to help [...]
Citigroup Program Helps Unemployed Homeowners
Bank temporarily reduces payments
Citigroup Inc. has stepped up to the plate when it comes to helping out people who are joining an ever-larger category: the unemployed.
The bank has started the Homeowner Unemployment Assist program, which allows unemployed mortgage holders who are late on their personal loans to make payments of [...]
Scam Watch: Don’t Get Duped into Fake Mortgage Relief
Bad news: It could be worse
It’s cruel, but true: Scam artists view struggling homeowners facing foreclosure as money-making opportunities.
There are lots of organizations out there right now trying to help modify loans for people who can’t keep up with their mortgage payments. Unfortunately, there are con artists out there imitating [...]
Banks Halt Foreclosures | No Instant Payday Loans for Mortgages
Don’t grab that payday loan so fast
Homeowners considering getting instant payday loans to cover their mortgage so they don’t get evicted might be able to hold off.
Moratorium on foreclosures
Payday loans are great for keeping your credit in good standing if you use them to make mortgage payments on time. However, [...]
Advertising Network
Loan Modification
Free E-Book
Free eBook
Terms of Use Privacy Policy Contact Us
Copyright © 2009 by Personal Money Store "Article republication is authorized as long as all content links are unaltered".
