Loan Modification Sites

In prior posts we have discussed some ways the government is providing opportunities to help borrowers who are struggling with their mortgage payment to try and keep their house.  We discussed the HAMP program, which is a government loan modification program that helps qualified consumers make adjustments to their mortgage payments in hopes to be able to keep their house.  The government recognizes that not all of these people will still be able to keep their house, so they have provided a program... more

The government is providing several programs and opportunities for people who are struggling with home mortgage payments.  One of their main programs is their Home Affordable Modification Program (HAMP).  This program is for certain borrowers who qualify and have mortgages under $729,000.  If you fit the little criteria that is required to qualify for the program, you may be able to lower your interest all the way down to 2%, defer unpaid loan balances, or even extend your amortization period. ... more

As the economy grows weaker, consumer loans are becoming more and more scarce.  On Tuesday, Wall Street reported a record setting $21.55 billion in consumer credit loss, which shows that indeed consumers are borrowing less and less.  Much of this is due to the extreme tightening in lending from banks.  As a result, banks are looking even more at loan modification and loan refinance for opportunities for consumers to finance. Not all loans and businesses have completely gone away.  In fact, credit... more

As mortgage interest rates are hovering near record lows, it becomes many people’s consideration to refinance their house, considering the extremely low cost of borrowing that the government has provided.  What many are striving to do is to refinance their house at 5% or lower rates, and then find an alternative investing vehicle that can yield much stronger gains to cover the return.  If this is successful, in a sense, you have received money for free, and get to put some extra interest... more

As the economic crisis increases, it is effecting many aspects of a variety of different businesses.  One in particular, Insurance Companies, have see some big changes as of late.  Many larger insurance companies have had to raise their premiums, due to losses they’ve endured in their investment portfolio.  As such, it may be a good time to consider switching insurance companies, as their are many that are still well capitalized. You can recevie good life insurance quotes from reputable... more

On Monday, Secretary Geithner unveiled the new toxic debt plan, that could result in over $1 trillion in spending to assist in the acquiring of toxic debt.  The plan was announced several weeks ago, but was unveiled in more detail on Monday, causing the stock market to rally 500 points.  The plan involves creating a “bad bank” entity, that would work much like the RTC did back in the 90’s.  Toxic assets will be transferred to this “bad bank” and then the Government... more

Big news was released earlier this week as once again the government has executed a plan to help reduce mortgage rates as well as people seeking loan modification. On Wednesday, The Fed met for their monthly FOMC meeting to discuss economic conditions and the future of the discount rate.  The Fed announced that they will indeed be keeping the current discount rate at a range of 0-.25%, which was expected, but they continued to announce their new plan, which resulted in a huge upswing in trading,... more

On Wednesday, March 18th, The Federal Reserve will meet for their FOMC meeting to discuss updates with the economy, the discount rate, and other economic variables.  It is expected that The Fed will leave the discount rate at its current level, which is a range between 0-.25%.  This means that, most likely, interest rates for homes will remain low, especially those that have good credit. With the recent news of bank’s balance sheets shrinking  17%, The Fed has taken initiative to help inject... more

For the first time since December of 2008, the DOW closed up four days consecutively.  This rally in the stock market is being led by the financial institutions, as many of them saw their stock go up anywhere from 40-100% in just a week.  This recent return of confidence in lending institutions is good news for your mortgage and loan modification. Both Bank of America and Citi Group announced this week that they are well capitalized and are actually yielding profits in the current quarter.  Both... more

In the past couple of weeks, President Obama and government agencies have been working hard to assist people across the country in working out their mortgage.  Considering the current estimate for delinquent houses is roughly 10% and the FDIC is predicting that 1 out of every 3 houses will be delinquent by 2010, this has become a top priority for President Obama. Considering many of the financial institutions have suffered severe liquidity problems the last year, the government has given aid to... more