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Obama Homeowner Affordability and Stability Plan
By Paul M. J. Suchecki
Tags: deed in lieu of foreclosure, Obama Homeowner Affordability and Stability Plan, Short Sale, ...
1 CommentAs of April 5th, the Obama Administration is adding a new Home Affordable Foreclosure Alternatives, HAFA, to its efforts to allow borrowers to avoid foreclosure through short sales or a deed-in-lieu of foreclosure option.
By Paul M. J. SucheckiTags: Loan Mod, Loan Modification, Obama Homeowner Affordability and Stability Plan, ...No CommentsAn additional 76,000 borrowers have been offered permanent loan mods where the paperwork still has to be signed and returned. The program passed a milestone, with more than one million trial three month loan mods granted, up from 902,620 the month before.
By Paul M. J. SucheckiTags: default rate, foreclosure law changes, Obama Homeowner Affordability and Stability Plan, ...2 CommentsThe National Governors Association reports that 33 states and Puerto Rico passed at least 99 new real estate laws in 2009. Sixty seven of the statutes were aimed at foreclosure relief
By Paul M. J. SucheckiTags: loan modifications, Obama Homeowner Affordability and Stability Plan, ...No CommentsThe Obama Administration’s Home Affordable Program, HAMP, had been heavily criticized for not doing enough to forestall foreclosures, which hit 2.8 million homeowners in 2009.
By Paul M. J. SucheckiTags: Loan Modification, Obama Homeowner Affordability and Stability Plan, ...1 CommentTreasury Homeownership Preservation Office Chief Phyllis Caldwell stated, “Our focus now is on working with servicers, borrowers and organizations to get as many of those eligible homeowners as possible into permanent modifications.”
By Paul M. J. SucheckiTags: Loan Modification, mortgage, Obama Homeowner Affordability and Stability Plan, ...No Comments“The banks are not doing a good enough job,” according to Michael S. Barr, the US Treasury’s Assistant Secretary for Financial Institutions.
By Paul M. J. SucheckiTags: foreclosure prevention, Obama Homeowner Affordability and Stability Plan, ...No CommentsRising unemployment, generally flat or even falling home prices, and impending mortgage rate resets threaten to cast millions more out of their homes with devastating effects on families
By Paul M. J. SucheckiTags: Credit Improvement, DTI, HTI, Obama Homeowner Affordability and Stability Plan...No CommentsOnce you’re on a debt settlement plan, stick with it. Now that a new monthly payment is in place for the rest of your consumer debt, you can approach your mortgage lender with a fixed number that will encourage your loan servicer to work with you on reaching the Obama Plan’s 31% HTI.
Why is Making Home Affordable Falling Short? By most estimates, it has been applied to 5% of those eligible while a record 5.4 million American homeowners are now behind on their mortgage payments.
By Paul M. J. SucheckiTags: foreclosure prevention, homeowner help, mortgage advice, mortgage refinance...No CommentsShort fi’s are for borrowers facing hardship. It would work best in an area where house prices have declined precipitously.
mortgage fraud reverse mortgage personal finance Deficiency Judgment Default Nationwide Mortgage Licensing System credit cards Short-Fi Jumbo Loan second mortgage Loan Default Short Sale bankruptcy Loss Mitigation Conforming Loan mortgage first time home buyer tax credit Loan to Value Uncategorized Upside Down unemployment Real Life Stories Obama Financial Reform Obama Housing Plan Falling Home Value Refinance Lenders home value Credit Mortgage Revision economic news Loan Modification Foreclosure Help
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