Stop Foreclosure Answer

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 [...]

Historically when mortgage companies have reduced monthly payments in loan modifications to help people facing foreclosure save their homes, they have done it by either reducing the interest rate or extending the remaining period of time over which the mortgage was to be repaid. Several times congress has sought to change the law and give [...]

Foreclosures are having a disastrous impact on our large cities.  Many of us have heard how they have decimated Detroit.  Yet it is hard to picture how bad the problem is by just reading about it and not actually seeing firsthand what is happening. When the problem strikes closer to home, then we can really [...]