Foreclosure and mediation laws by state...

Arizona: AZ Law Help has developed a “Lawyers Helping Homeowners” program as an effort to help homeowners in working with lenders to avoid foreclosure.  This program is sponsored by the State Bar of Arizona, the Arizona Foundation for Legal Services & Education, and the Arizona Supreme Court. ...

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...

Changes to Affordable Modification Progr...

These updates are set to be released to lenders regarding the HAMP program and the servicers reporting requirements. Trial and Official Loan Setup The difference between the delivered Front Ratio Before Modification and the calculated Front Ratio Before Modification must be less than or equal to 1%. Front...

Florida banks move to speed up foreclosu...

If bankers get their way, Floridians facing foreclosure could be kicked out of their homes in as little as three months. The Florida Bankers Association, the 400-member-strong lenders’ lobby, has presented state legislators with a bill to upend decades of Florida law and establish “non-judicial”...