‘Loan Modification’ Category

Why You Need A Loan Modification Attorney

Being behind on your mortgage payment can be scary and nerve wracking.  To save your home and obtain a loan modification, should you hire an attorney? Here are the top 10 reasons why it is absolutely necessary to hire an attorney for a loan modification

Being behind on your mortgage payment can be scary and nerve wracking. To save your home and obtain a loan modification, should you hire an attorney? Here are the top 10 reasons why it is absolutely necessary to hire an attorney for a loan modification

Banks Are Not Modifying Mortgages Under HAMP

When the banks were bailed out by the federal government under the Troubled Asset Relief Program (TARP), the banks were required to offer loan modifications under Homeowner Assistance Modification Program (HAMP).

When the banks were bailed out by the federal government under the Troubled Asset Relief Program (TARP), the banks were required to offer loan modifications under Homeowner Assistance Modification Program (HAMP).

Loan Modification Abuse Still Continuing

The banks and its servicers are still up to their old tricks. The Consumer Financial Protection Bureau (CFPB), which is the government agency overseeing the behavior of the banks, recently issued a report on its examination and observations in consumer reporting, debt collection, mortgage origination and servicing

The banks and its servicers are still up to their old tricks. The Consumer Financial Protection Bureau (CFPB), which is the government agency overseeing the behavior of the banks, recently issued a report on its examination and observations in consumer reporting, debt collection, mortgage origination and servicing

A Loan Modification Approval Does Not End the Process

Congratulations, you received a loan modification from your lender and you are now on your way to saving home.  Or are you?  Even when you receive an approval, the banks still have another trick up their sleeve.

Congratulations, you received a loan modification from your lender and you are now on your way to saving home. Or are you? Even when you receive an approval, the banks still have another trick up their sleeve.

Cannot Sue for Lack of Standing and Receive Modification at the Same Time

Suppose you are sued in a foreclosure action.  Let us say that you sue the investor in federal court to prevent the foreclosure because the investor cannot maintain the action in foreclosure because it could not prove that it had the authority to maintain the foreclosure action.

Suppose you are sued in a foreclosure action. Let us say that you sue the investor in federal court to prevent the foreclosure because the investor cannot maintain the action in foreclosure because it could not prove that it had the authority to maintain the foreclosure action.

Eight Out of Nine Ain’t Bad

As a result of the robo-signing signing scandal and other foreclosure abuses, many servicers, including Ocwen, were sued by the Federal government.

As a result of the robo-signing signing scandal and other foreclosure abuses, many servicers, including Ocwen, were sued by the Federal government.

New HUD Policy Will Help Delinquent Borrowers

There is some good news for homeowners who are behind on their FHA mortgage payments.  A little background is necessary first.

There is some good news for homeowners who are behind on their FHA mortgage payments. A little background is necessary first.

Another Servicer Abuses Homeowners

Another servicer has been fined by the Consumer Finance Protection Board (CFPB).  Green Tree Servicing, which has been expanding its servicing operations

Another servicer has been fined by the Consumer Finance Protection Board (CFPB). Green Tree Servicing, which has been expanding its servicing operations

Borrower May Have State Action When Improperly Denied Loan Modification

Many courts have decided that the federal Home Affordable Modification Program (“HAMP”) does not offer borrowers a private right of action to allege a lender or servicer violated HAMP.

Many courts have decided that the federal Home Affordable Modification Program (“HAMP”) does not offer borrowers a private right of action to allege a lender or servicer violated HAMP.

New Program for Hard Hit Areas

For distressed homeowners living in Chicago or Detroit, there are additional programs available to help avoid foreclosure.

For distressed homeowners living in Chicago or Detroit, there are additional programs available to help avoid foreclosure.

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