by Phyllis Rockower | Mar 28, 2013 | Housing News
The rules for mortgage modification have been eased according to FHFA. They would lower the interest rate to 1/2 % below going interest rates. (big deal) but would not include cn. Worse yet, missed payments would be added to the back end of the loan. Sounds like...
by Phyllis Rockower | Mar 4, 2013 | Foreclosure Updates
When talking to sellers who are in trouble, the topic of loan modification will always come up. You need to have some basic information to give to them. First of all, there are very tight qualifications for this process and it ain’t easy. If you make too much,...
by Phyllis Rockower | Mar 14, 2012 | Housing News, Real Estate News
The deal gives 5 major services-NOT NECESSARILY THE BANKS, incentives to write down the loans of severely upside down homeowners. Most of these home loans are not owned by the banks and might trigger litigation by the investors whose money it actually is. CA. was a...
by Phyllis Rockower | Mar 7, 2012 | Economic News, Real Estate News
More double dealing by the govt. On one hand it looks like the govt is giving the banks incentive to help homeowners by giving the banks credit for every dollar they use in the new program to write down loan balances. However, if you read the fine print you will see...
