Foreclosure plague slowing : Filings fall by 8%
The following article that was posted earlier in this month on cnnmoney.com speaks to the fact that in the month of November there was a decrease in foreclosure filings nationwide. This does not necessarily hold true to South Florida. And the questions still persists if this is a temporary lull considering the millions of people who will soon find themselves with no further unemployment benefits as well as no new jobs. So with loan modification plans continuing to be revised by the Obama Administration and hundreds of thousands of people awaiting approval of Short Sale offers by their current lenders we sit and we wait to see what the new year to bring us. I hope that you find the following article insightful and informative.
Renewed HOPE for Homeowners
Renewed HOPE for Homeowners
Congress passed a bill amending HOPE for Homeowners that may make the program more useful.
NEW YORK (CNNMoney.com) — One of the biggest disappointments of the foreclosure prevention fight has been HOPE for Homeowners, a plan Congress passed in an attempt to help as many as 400,000 underwater, delinquent borrowers from going into foreclosure.
In its first five months, HOPE for Homeowners helped one family stay in its home.
Congress and the Obama administration are hoping to do a lot better than that.
Obama expands foreclosure fix
Obama expands foreclosure fix
Two steps: Second liens now covered by modification program; servicers must offer eligible borrowers principal reduction under Hope for Homeowners.
NEW YORK (CNNMoney.com) — The Obama administration said Tuesday it is expanding its foreclosure prevention program to cover second mortgages and to direct more troubled borrowers to the Hope for Homeowners program.
Announced with great fanfare in mid-February, the president’s $75 billion program has gotten off to a slow start. Loan servicers only recently started taking applications and many delinquent borrowers have complained about being left in the cold because their home values have dropped or they’ve lost their jobs.
Mortgage help: Do you qualify?
Mortgage help: Do you qualify?
President Obama’s new real estate rescue plan offers two key possible benefits: More refinancing opportunities and greater chance for a loan modification.
NEW YORK (CNNMoney.com) — The eagerly anticipated foreclosure prevention program unveiled Wednesday by President Obama targets 9 million borrowers for help – are you one of them?
The $75 billion effort, dubbed the Homeowner Affordability and Stability Plan, boils down to two basic solutions:
First, the government is aiming to help more homeowners refinance to take advantage of new low interest rates.