LOAN MODIFICATIONS MAY BENEFIT HOMEOWNERS EVEN WHEN THEY ARE DENIED
The Making Home Affordable Modification Program has had a low success rate in helping homeowners modify their mortgages and save their homes. However, even homeowners unable to save their homes under this program have received some benefit for their participation in the program. First, while you are applying for a loan modification you will not [...]
THE TROUBLE WITH LOAN MODIFICATIONS
A quick search of the internet will show that loan modification programs have been generally unsuccessful. In my practice as a bankruptcy attorney, I encounter debtors every day who are trying to save their home through a loan modification. After months of submitting and resubmitting documents, jumping through one hoop after another, they are usually [...]
Mortgage Loan Modification Scams – What Consumers Need to Know
The economic recession and its effects on the real estate market have generated a new type of scam artist for consumers to be aware of: mortgage loan modification companies. Mortgage loan modifications are a type of loss mitigation program, designed by mortgage lenders, to minimize their losses by working with consumers to make mortgage payments [...]
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