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Modify Mortgage Terms
Question: Does a lender have to follow the terms of a mortgage note, previously executed by consumer borrow?
My husband and I have a, stated income loan and the 1st 12 months is interest only, due to the construction period, then our loan adjust according to the terms in the Note. Our lender said [...]
Mortgage Modification Bankruptcy
Question: Modifying 1st mortgage before bankruptcy auction date-does 2nd home equity stay discharged, or is it activated?
My daughter and son in law have gone through chapter 7 bankruptcy in Oregon. They had a 1st and a 2nd mortgage (which was a home equity loan). There is an auction date set for [...]
Tags: bankruptcy, Foreclosure, Home, loan, mortgage, mortgage modification bankruptcy billBankruptcy Judges Modify Mortgages
Question: Obama or McCain. Your money on fighting foreclosure?
McCain:
· Give homeowners the chance to have their loan modified, provided they meet certain criteria.
· Offer of financial assistance to borrowers contingent upon lending reform.
· Provide more funding for community development groups so they can expand their home rescue efforts.
Obama:
· Allow troubled homeowners to [...]
Loss Mitigation Center
Question: Loss Mitigation and “The Center For Responsible Lending”?
The Center For Responsible Lending always cites the “lack of effort” that lenders are making with regards to working out a solution to the foreclosure increase.
As a Loss Mitigation Consultant I can say that I rarely get a call back from homeowners in trouble and [...]
I am a single mother of two and get no child support. I am forever fighting with loss mitigation to avoid foreclosure, and I am aging years at a time with all the stress maintaining my household involves.I put no money down and even with the slow market, if I sell my house I will [...]
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