Many times I have commented on how poorly mortgage companies are handling the applications for loan modifications for people facing foreclosure. Here is a new one. Arizona Couple’s Home Wrongfully Sold Recently a couple in Phoenix, Arizona came home to find a notice on their door. The notice said that they had five days to [...]
Many people and organizations in the United States are getting frustrated with banks and financial institutions giving executives and key management personnel bonuses in the midst of the foreclosure crisis gripping this country. We all have seen or heard news reports about what groups have done to bring attention to this. The latest was a [...]
A decision by a federal judge in Minnesota this past week will have ramifications on loan modifications throughout the country. A lawsuit had been filed alleging that the Making Home Affordable Modification program violated the constitutional rights of people facing foreclosure. The reason was that people who were denied a loan modification under this program [...]
At a conference of the Mortgage Bankers Association in October mortgage companies started to warn that the results of loan modifications in the Making Home Affordable Modification Program may not be as good as expected. As of the end of September trial loan modifications had started on 500,000 loans. These trial modifications last for 3 [...]
In a recent post I told you about the spin Bank of America is putting on their performance in the Making Home Affordable Modification Program. If you have not read that, please go and read it now before you read this post. You will see what I am talking about. In the press release I [...]
