Debate On Loan Modification Continues: Free Enterprise Vs Free Government
The debate seems to intensify on a daily basis regarding the merits and legitimacy of for profit loan modification companies. Officials of HUD, Hope and the banking industry continue their criticisms of the loan modification industry by [...]
Is A Loan Modification Worth The Cost?
With the large number of people in arrears on their mortgages, various governmental agencies have been attempting to provide solutions. Loan modifications have been proposed as the answer for over a year now. The FDIC has recently [...]
Streamlined Modification Program - Who Is Eligible?
On December 18, 2008 the Federal Housing Finance Agency, Fannie Mae, Freddie Mac and Hope announced their Streamline Modification Program (SMP) to assist troubled homeowners. By implementing common standards and procedures for loan servicers to follow it [...]
Details Of Streamlined Mortgage Modification Released
The Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac announced the details for streamlining the mortgage modification process for homeowners in default. The new guidelines are an effort to standardize the eligibility requirements, thereby allowing [...]
HUD Loan Modification Program Called A Failure
None other than the Secretary of Housing and Urban Development has declared the HUD loan modification program, known as Hope for Homeowners, to be a failure. Steve Preston, HUD Secretary , blamed Congress for the program’s failure. [...]
Loan Modification Efforts Continue
Despite the recent news that many of the mortgage loans modified have gone back into default, the loan modification effort continues. Until a better solution is found loan modification efforts will continue, especially given the full backing [...]
Loan Mods Just A Warmup For The Real Thing-A Mortgage Holiday
It has become increasingly obvious that the central banks of the world will engage in whatever desperate actions are necessary in order to sustain and increase our already unsustainable levels of debt. The ridiculous idea of providing [...]
Debt Collection M&A Is Booming As Collections Collapse
Business Week reports that amid a general collapse in the mergers and acquisitions (M&A) field, one area that is still booming is in acquisitions of companies that buy and collect on defaulted consumer debt. Acquisitions of $1.8 [...]
Loan Modifications - Salvation For Former Mortgage Brokers?
From my industry contacts and investigation of the loan modification “business” there are several conclusions easily reached:
- The Internet is extremely crowded with unknowledgeable, coarse idiots who are all attempting to haphazardly create businesses doing loan [...]
