There can be several reasons why one homeowner’s loan modification application is denied, while another’s is not. Whether it’s a Home Affordable Modification Program application or a private one, you need to contact your lender and ask why yours was … Continue reading
Why Your Loan Modification Application Was Denied
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Why Loan Modification Software Can Prevent Foreclosure
You may have seen the terms “loan modification software” and “loan modification help” thrown around and you’re wondering what it’s all about exactly. To take a little step back, a loan modification refers to a change made to the terms … Continue reading
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Identifying The Best Loan Modification Plan
It is very obvious by now that since the bursting of the housing market bubble in 2006/2007, millions of Americans have found themselves fighting a seemingly losing battle in an effort to save their home from foreclosure. You may very … Continue reading
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Reasons Why You Ought To Despise The Mortgage Settlement
You may have been seeing or hearing some news headlines in the last few weeks or so about a settlement being reached between the big banks of America and housing market regulators. It is claimed that this settlement will finally … Continue reading
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A Widening Rift Between Bank Of America And Fannie Mae
On February 23rd, 2012, Bank of America (BOA) reported that it would be putting an end to selling new mortgages to Fannie Mae, drawing attention to a struggle between the two real estate giants. The struggle has to do with … Continue reading
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Almost 50% Of Americans Are One Crisis Away From Poverty
What’s your definition of poverty? If you take it to mean living at or below the poverty line, then it’s a fact that almost 50 million Americans already find themselves in this position. However, if you define poverty in terms … Continue reading
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Loan Modification – Stress Busting Tips For Financially Tough Times
If the risk of losing your home to foreclosure is a very real one, no-one needs to tell you about the stress that can arise as a result. It can be a frightening experience that can practically leave one feeling … Continue reading
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DataQuick Addresses HARP Modifications
Recently made alterations to the Federal HARP program (Home Affordable Refinance Program) create simultaneous opportunities and problems for lenders and servicers across the United States. The provider of innovative real estate data and solutions, DataQuick, has addressed HARP modifications with … Continue reading
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Banks And Lenders Care Little About Helping Homeowners Avoid Foreclosure
The HAMP program that was unveiled by the Obama administration in 2009 was supposed to provide financial relief to millions of homeowners across the country who were buckling under the strain of overwhelming mortgage payments. However, almost 3 years and … Continue reading
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HAMP Program To Undergo Some Tweaks
The Obama administration has recently announced its intention to introduce some changes to the HAMP (Home Affordable Modification Program) program. Most would agree that since the introduction of the program with the alleged aim of helping struggling homeowners in America, … Continue reading
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A Wells Fargo Loan Modification Victim Speaks Out In Protest
This is a story about an American family and their fight to save their home. It is a story about the lies, victimization, and callousness that this family has had to endure at the hands of their bank. It is … Continue reading
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Democrats Pressure The FHFA Regarding Mortgage Write-downs
It is anticipated that Congressional Democrats will keep putting pressure on the FHFA (Federal Housing Finance Agency) to reduce mortgage principal balances for federally-backed home loans in the event that a settlement with America’s banks fails to provide struggling homeowners … Continue reading
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Tierney Still Calling On FHFA To Allow Loan Modifications
Congressman John Tierney, along with Elijah Cummings, a ranking member of the committee on Oversight and Government Reform, have requested that the chairman of the committee, Darrell Issa, subpoena documentation that the Federal Housing Finance Agency committed to making available … Continue reading
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Freddie Mac Gives Unemployed Homeowners Some Time
Freddie Mac, one of the federal housing market giants, has announced that it will make it possible for homeowners without work to increase the period of time during which their mortgage payments can be lowered or suspended. Freddie has made … Continue reading
Loan Modification: California AG Takes On Fannie And Freddie
Loan Modification News: The California Attorney General, Kamala Harris, has launched legal proceedings against Fannie Mae and Freddie Mac demanding that the federal mortgage giants cooperate with a state inquiry. Harris is placing a spotlight on Fannie and Freddie’s … Continue reading
Loan Modification News: 60 Minutes Spotlight On Housing
Loan modification news: A 60 Minutes special that was aired on CBS a few days ago shed light on the growing housing crisis in the United States that continues to increase in severity. The program focused on Cleveland, Ohio to … Continue reading
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Loan Modification – 1 Million Cases Processed This Year
Based on October 2011 loan modification data released by HOPE NOW, just over 880,000 homeowners have been granted permanent loan modifications thus far this year. It was stated last month by the voluntary alliance of mortgage industry participants that … Continue reading
Loan Modification News – Massachusetts Sues 5 Big Banks Regarding Foreclosure Tactics
Referring to the extensive exploitation of struggling homeowners across Massachusetts, including loan modification abuses, the state’s AG has initiated lawsuits last Thursday against the country’s 5 largest home loan lenders. The AG is attempting to secure justice on behalf … Continue reading
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Loan Modification – Foreclosure Figures Now At A Record High
The latest October report made available by Lender Processing Services makes it evident that home loan delinquencies remain in a state of decline, now at a level almost 30% off their peak at the start of 2010. At the … Continue reading
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Loan Modification News: The Scope Of Bank Bailouts Increasingly Comes To Light
Loan modification news: The giants banks of America and the Federal Reserve battled for over 2 years to prevent details of the biggest bailout in American history from becoming public knowledge. Finally, everyone gets to see exactly what was … Continue reading
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Loan Modification – House Values In 20 US Cities Decrease More Than Expected
Loan Modification Impact – Residential home prices decreased more than forecast for the period of the year end September, this year. It reflects the fact that the industry at the heart of the ongoing financial crisis is still in … Continue reading
Loan Modification – California AG Addresses Mortgages
As the Christmas season approaches (will Santa be dropping off many loan modifications?), which is supposed to herald a season of generosity and selflessness, how about the notion of banks consenting to a moratorium on home foreclosure processes for a … Continue reading
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Loan Modification – Fannie Mae Hits Up Treasury For A Further $7.8 Billion
If anything can be said about the U.S. housing market and impacts on loan modification, at least there’s an undeniable element of consistency. And just to be clear, any perceived hint of sarcasm is entirely intentional. Fannie Mae, the … Continue reading
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Loan Modification – Fannie And Freddie Bigwigs Give Main Street The Finger
Greetings American taxpayers and loan modification applicants, you generous bunch, you. I thought I’d just take a moment to share some of the latest facts to emerge regarding your very giving hearts towards the federal government. As you may be … Continue reading
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Loan Modification – Hope Now Claims 5 Million Loan Modifications Complete
Hope Now have alleged that members in their team have successfully processed 5 million home loan modifications since 2007. HOPE Now is a network of voluntary mortgage servicers, counselors, investors and insurers. This announcement is meant to support the notion … Continue reading
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Loan Modification – Bipartisan Bill Attempts To Boost Housing Market Via U.S. Backed Bonds
New legislation that may impact loan modification applications down the line has been introduced by senators Kay Hagan (D-NC) and Bob Corker (R-TN). The legislation is intended to assist with the creation of an American backed bond market and … Continue reading
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Loan Modification Needed More Than Ever In The U.S.
Millions of homeowners attempting to secure a loan modification for themselves face the disheartening situation of having a home that is underwater. If you’ve ever experienced the sensation of drowning, you know that it’s entirely frightening. Having that burning, … Continue reading
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Loan Modification And Foreclosures – Big Lenders Get a Small Slap on the Wrist
Following numerous months of ping-pong’ing back and forth regarding loan modification and housing market accountability, an AG settlement over foreclosure that is intended to punish big banks for foreclosure abuses may be close to being finalized. The precise details of … Continue reading
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Loan Modification News – HARP Revamp: The Obama Administration’s Latest ‘Solution’
This past Monday the Obama administration announced housing market reforms that would take the shape of the revision of the Home Affordable Refinance Program (HARP). According to Zachary A. Goldfarb, a reporter for the Washington Post, the changes that … Continue reading
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Housing Market: Republican Presidential Candidates Address The Issue (Barely)
On Tuesday, October 18th in Las Vegas, the latest Republican Presidential Debate took place and the housing crisis was briefly addressed. For quite some time now it’s been very difficult to watch or listen to these things without feeling … Continue reading
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Loan Modification: Rediscovering Its Intended Purpose
It wasn’t too long ago that people first started talking about this thing called loan modification. The housing market had taken a nose-dive in 2007 and a variety of government and private initiatives (such as the federally launched HAMP … Continue reading
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Loan Modification News: Fannie Mae Was Aware Of Abuses From The Beginning
An FHFA report states that Fannie Mae became aware as early on as 2003 of foreclosure malpractices perpetrated by law firms that it had employed to get distressed homeowners out of their homes through foreclosure. This report was crafted … Continue reading
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Housing Market Divide: The Rift Between The Haves And Have-Nots
Take a good look around the United States of America, and you may just get the impression that all housing markets are not created equal. In housing as in the justice system, there appears to be two sets of rules … Continue reading
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Loan Modification News: Yet Another Calamity Awaits Without FHA Loan Limits Extension
Here’s a little thought worth bearing in mind: In the space of just a few days, the house-buying capacity of millions of Americans will be severely handicapped to the tune of $68K. Some housing markets will be hit by … Continue reading
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Loan Modification News: Settlement Possibly Close For Fannie And Freddie
Regulators from the Securities and Exchange Commission (SEC), if one can use that term to describe them, are said to be reaching a settlement with Fannie and Freddie about whether or not the mortgage juggernauts were honest enough about … Continue reading
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Housing Market Acrobatics – BOA Transfers Billions In Home Loans To Fannie Mae
If you’ve been keeping an eye on recent developments in the housing market, you may recall news of a peculiar deal that was struck between Bank Of America and Fannie Mae in August of this year. It was made known … Continue reading
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Loan Modification News: Obama Housing Market Efforts Fail To Inspire
By Carla Ghosn, CEO of Mycaal.com. While the Obama administration is in the process of tackling the challenges related to kick-starting a very crippled housing market, one of the top Federal Reserve board members by the name of Elizabeth Duke … Continue reading
Loan Modification Seminar by MyCaal.com – How to Avoid Foreclosure
By Carla Ghosn - Silicon Valley, CA August 29, 2011 Thousands of homeowners have been informed that their mortgage payments are in arrears, that their home is worth less than they owe on it, or that they are facing crippling interest … Continue reading
Attention Homeowners: A Free Loan Modification Seminar On Offer From MyCaal.com
Are you facing the frightening potential loss of your home, or are you a hair’s breath away from filing for bankruptcy in the face of unmanageable mortgage pressures? It’s an intensely disheartening situation which can easily leave anyone feeling … Continue reading
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Homeowner Honors His Mortgage With Bank Of America, Gets Steamrolled Anyway
Well, it will come as little surprise to most that yet another installment in the housing market crisis has to do with the perplexing conduct of one of the usual suspects, Bank of America. This story has to do with … Continue reading
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Loan Modification News – Could A Newly Introduced Bill Bring Stability?
So…of all the possible things that could usher stability into what is clearly a massively damaged housing market, could new legislation do the trick? OK, I can practically see the cynical looks on many of your faces. But yes indeed, … Continue reading
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Loan Modification Scandal – One Family’s Tale Of Heartbreak
A woman by the name of Leisa Fenton spent a number of months working on a loan modification with Bank of America (BOA) in an attempt to save her and her family’s home. Imagine her surprise therefore when she noticed … Continue reading
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Housing Market Crisis – Hitting Americans In The Pocket, And Hitting Them Hard.
Here we are, well and truly in the midst of what is revealing itself to be a housing crisis of epic proportions, and the resultant consequences continue to play themselves out all across the United States of America. Needless to … Continue reading
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Loan Modification News: Orange County Shadow Inventory Soars By 42% In 12 Months
Even though there has been a drop in foreclosure sales and notices, banks have increased their real estate owned property holdings by a whopping 42% since the month of July, 2010. Not only this, but shadow inventory figures continue to … Continue reading
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Treasury Explores Proposal to Prevent 1 Million Homeowners Avoid Foreclosure
So the Obama administration is apparently exploring alternate options with regards to preventing 1 Million homeowners avoid foreclosure in the midst of a nasty housing market crisis. The strategy involves encouraging lenders to process loan modifications on delinquent or defaulted … Continue reading
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The Housing Market Triple Threat, and the Role of GSE’s such as Fannie and Freddie
By Carla Ghosn A fair amount of talk has been going on about the role of Government Sponsored Enterprises (GSEs) in the current housing market crisis. But what crisis are people talking about exactly? The housing market crash? The unemployment … Continue reading
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Loan Modification News: Bill Proposes The Merger of Fannie And Freddie
By Carla Ghosn Loan Modification News: A California Republican is endeavoring to introduce legislation that proposes the amalgamation of Fannie Mae and Freddie Mac in favor of a newly restructured government-held corporation. This moves comes as the most recent strategy in … Continue reading
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Loan Modification News: JP Morgan Addresses Charges Of Deceiving Investors
By Carla Ghosn, CEO of Caal (mycaal.com). The investment giant JP Morgan has conceded to forking out over $150 million in order to settle US regulatory allegations that it deceived pension funds and various other investors while in the process … Continue reading
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California creating mortgage fraud task force – Does this watchdog actually have teeth?
By Carla Ghosn, CEO of Caal (mycaal.com). Some news surfaced just a little while ago which could mean great news for struggling homeowners in California. On the 23rd of May, 2011, CA Attorney General Kamala D. Harris declared that the California’s … Continue reading
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Loan Modification News: Obama Admits His Administration Failed Struggling Homeowners
Loan Modification News: Based on a promise made by President Obama, he is “going back to the drawing board” as it relates to investigating and employing strategies that are effective at reviving the dormant housing market. That being said, the … Continue reading
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Loan Modification: Banks receive $1000 for each loan modification they entertain
When Will Struggling Homeowners Have Suffered Enough? Loan Modification News: Here’s a question: Does the struggling homeowner in America who is desperately trying to hold on to his or her cherished home through home loan modification have anyone to … Continue reading
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The Housing Market Crisis: Renters In The Cross-Hairs Next
To be or not to be? Increases in rental prices in many parts of the United States are giving thousands of Americans a pretty nasty wake-up call. Renters who previously were able to ride out housing market declines relatively … Continue reading
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JP Morgan Enjoys Record Profits As A Community Suffers In The Wake Of Its Predatory Lending
When the story is told many years from now of the current Great Recession and housing market mess that is causing so much financial and social devastation around the country, one of the sad stories that will be glaringly clear … Continue reading
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Loan Modification: The Domino Effect of Being Rejected
Loan modification zone: In the first blog of this series we focused primarily on the impact of being rejected for a loan modification denial on a homeowner’s credit rating. In the second blog we looked at how damaged credit and the denial of … Continue reading
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Loan Modification: The Domino Effect of Being Rejected – Part 2
Loan Modification Zone: In the first blog of this series we focused primarily on the impact of being rejected for a loan modification denial on a homeowner’s credit rating. Following from that issue, we now take a look at how … Continue reading
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Loan Modification: The Domino Effect of Being Rejected – Part 1
Loan Modification Zone: In a series of blog posts, I would like to address the challenges we are facing due to the housing crisis with the purpose to uncover as much as possible the domino effect this has on people’s … Continue reading
HAMP experiences, and why Caal Software is so Desperately Needed
According to a recent survey conducted by the Government Accountability Office (GAO), more than 75% of housing counselors who responded stated that American homeowners have had either “negative”, or even “very negative” experiences in dealing with the Home Affordable Modification … Continue reading
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Shadow Inventory – What Sneaky Banks are Hoarding and Hiding
By Carla Ghosn, CEO of MyCaal.com Due to the record number of foreclosures that have occurred as a result of the sub-prime mortgage collapse of 2007-2008 and the general free-fall of the housing market, lenders found themselves saddled with a … Continue reading
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The People vs. Goldman Sachs – Takedown of Goldman
I love this article by Matt Taibbi known as “The People vs. Goldman Sachs” and I believe that every American citizen should read it. It contains a summary of a fascinating story about corruption and greed…among the chief suspects for … Continue reading
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Housing Market Recovery – Americans Remain Pessimistic
According to a recently concluded survey, most Americans do not expect to see any concrete signs of a housing market recovery before 2014. An increasing number of people are preparing themselves for what they believe will be a long wait … Continue reading
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Banks Must Provide A Single Contact In Loan Modifications – (US Treasury) Finally!
In a blog post a little while ago I mentioned the fact that one of the 5 greatest challenges facing a homeowner applying for a loan modification is the fact that they don’t have a single contact point at the … Continue reading
