A recent post on Housing Wire touted the benefits of using “high-touch” servicing in dealing with homeowners who are behind on their mortgage and headed towards foreclosure.
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Maybe you’ve heard about, or seen the ads for the Hardest Hit program? Read the rest of this entry »
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I mentioned the other day that Fannie Mae has “taken to the [virtual] airwaves” to “educate” homeowners in default on their home loan.
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In an effort to “educate” defaulting homeowners on their options when they fall behind on their mortgage, Fannie Mae has unveiled a new website.
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Homeowners’ Emergency Mortgage Assistance Act (HEMA), the dumbest idea in the history of foreclosure legislation, is working its way through Congress.
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“A loan modification is just one piece of the puzzle.”
I’ve been saying this for quite some time, but first posted it in a post I made on the proposed Foreclosure Prevention Czar in October of 2008.
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Fitch Ratings, a financial rating and advisory firm, issued a recent report predicting that 55-75% of all HAMP loan modification recipients will re-default, or fall behind again on their mortgage payments after their loans are modified.
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I’m constantly amazed at how long it takes for an institution to figure out the obvious.
For a few years now, I’ve been saying that the mortgage industry is typically 24-36 months behind the curve. The problems they’re addressing today should have been dealt with 2-3 years ago.
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Last week, the Senate passed the Restoring American Financial Stability Act.
It now includes a program that would allow unemployed homeowners to prevent foreclosure by borrowing up to $50,000 to stay afloat.
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I’ve not been blogging much… who’s got time for this, anyway?
Who are these people that can post every single day?
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