Posted April 6th, 2009 by admin
US Administration announced they have raised their efforts to stop predatory mortgage relief companies preying on struggling homeowners looking for companies to help negotiate better mortgage terms that yield a more affordable home loan payment. As the mortgage crisis continues to unfold, the FBI says incidents of suspicious financial activity banks reported to the bureau [...]
Tags: foreclosure news, foreclosure prevention, foreclosure relief, loan modification scams, mortgage relief
Posted April 6th, 2009 by admin
The Obama administration has already unveiled its plan to reduce the rising home foreclosure rate, but with loan modification scams on the rise, the administration today announced a multi-agency effort to crack down on predatory home foreclosure scams that prey on distressed homeowners. “Just as this administration has intensified our efforts to help American homeowners, [...]
Tags: FBI, FHA home loans, foreclosure news, home loan, mortgage fraud, Treasury Secretary Tim Geithner
Posted December 15th, 2008 by admin
Florida based Ocwen Financial Corporation said Thursday that it is seeing “solid success” with its own loan modification program. Touting a technology-based, loan-by-loan approach to modification, Ocwen said at the six-month mark, the 60-day delinquency rate on its modified loans stands at 24.6 %.
That’s well below industry data from the Office of the Comptroller of [...]
Tags: foreclosure news, mortgage loan modifications
Posted December 10th, 2008 by admin
The recent foreclosure epidemic has caused millions of homeowners in the U.S. to scramble for more affordable mortgage terms. Whether it’s a rising variable rates, loss of income, loss of equity or simply a poor decision to borrow money, people need loan revisions and very few people are able to accomplish that with the traditional method [...]
Tags: foreclosure news, modification, mortgage refinancing