Payment relief for homeowners who have l...

In May 2010 the Home Affordable Unemployment Program, was issued introducing payment relief for homeowners who have lost their jobs. The Home Affordable Unemployment Program (UP) is effective July 1, 2010, and offers eligible unemployed borrowers a forbearance plan to temporarily reduce or suspend their...

Use of lender incentives for Loan Modifi...

One of the ways how the Obama administration is helping to get more mortgage providers to offer loan modifications is by offering juicy incentives. The lender incentives are being used simply as a means of encouraging them to get along with helping to get people to avoid foreclosure.  Its unfortunate...

Recent news on interest rates and forecl...

Update on Interest RateThe Obama administartion purchase program ended on March 31st and was regarded as a precursor to a gradual rise in mortgage interest rates.  Howver,  ”We are unlikely to see a significant market disruption in the agency market stemming from the Fed’s retreat,...

Hiring an attorney for your loan modific...

Loan modifications are created so that families can have a solution to save them from losing their home. Though there are millions of families who are eligible for loan modifications, many will not even attempt to apply because of the high fees that financial advisors charge even for advice. There is...

Update on Foreclosure Mediation...

Captaloans has a number of foreclosure mediators using our CRM to manage their case load so we have been watching the legislation.  Here is a great article from Keith on the status of foreclosure mediation.  You can see the full article here: http://www.mediate.com/articles/foreclosureupdate5.cfm Members...

Getting a mortgage in todays climate...

With Loan Modifications and short sales in full swing the mortage industry has changed dramatically in the last 18 months.  A few details of changes that affect borrowers. After the mortgage back security implosion where subprime and stated income loans (that eventually went into default in large...

Loan Modifications to begin including pr...

save your home Millions of homeowners who are underwater on their mortgages are looking for a way to convince their lender to lower the amount they owe.  Many want to remain in their homes but its simply too tempting to walk away. Getting a principal reduction has always been an almost impossible task....

Loan Mod Report for January released...

ADMINISTRATION RELEASES JANUARY LOAN MODIFICATION REPORT The Number of permanent modifications nearly doubled previous month with over one million trial modifications started.   The Department of the Department of Housing and Urban Development (HUD) today released January data for the Home Affordable...

Important Foreclosure Terms and Definiti...

Deed-in-Lieu: An agreement to turn real estate over to a lender as an alternative to foreclosure. Short Sale: A type of pre-sale in which the creditor agrees to let you sell property for less than the full amount owed and to accept the proceeds of the sale as full satisfaction of the debt. Foreclosure:...

Is a borrower who has received a prior L...

   When is a servicer’s SPA obligation to offer a borrower a HAMP modification considered satisfied? A borrower who has a received a HAMP offer is ineligible for a subsequent HAMP offer, and the servicer’s SPA obligation to offer the borrower a HAMP modification is considered satisfied, in...