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Archive for the ‘Countrywide Home Loans’ Category

Just recently the U.S. Treasury Department has approved six new lenders to its Home Affordable loan modification program. Under the terms of this agreement's loan modification rules, these six banks and lending institutions may now process applications for loan modifications. They may now participate in the subsidy program offered by the federal government and get the incentive payments that both lenders and homeowners are eligible for. Having been approved, these organizations will now be looking for qualified homeowners for whom they can modify a loan. Check to see if your lender is on the approved list of institutions that can offer modifications under this plan. The Obama administration is trying to add any lending banks that wish to participate in its new program. The government, which is offering almost billion in incentive payments to .. more»

Jumbo home loans start at 7,100 and above. A new bill could be push conforming loan limits up to 9,750 and make jumbo mortgage loans anything above 9,750. This will be a major move to offset the housing price and sales decline. As a result, this will be an increase the mortgage loan limits for Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA). The national sub-prime meltdown has had a dramatic impact on both the cost and availability of mortgages in many markets. Since August 2007, the interest rates for jumbo borrowers have been more than 1 percentage point higher than conforming loans, which can cost homeowners up to 0 month in higher interest payments.Raising the GSEs' conforming loan limit will provide immediate relief to borrowers and alleviate downward pressure on our .. more»

As you may expect, home mortgage loan mitigation is not a one size fits all endeavor. The universe of possible solutions is vast. Always use an attorney for ALL loan modifications that will thoroughly review your circumstances and desires before recommending a course of action. Your financial circumstances, existing loan documentation and legal rights should always be reviewed and considered. An attorney will work with you to achieve a solution which fits for you and your family. While other organizations may simply submit a loan modification request, which may be ignored by the lender, an attorney will actively and aggressively negotiate the most advantageous solution for their clients. In many cases, an attorney will contact your lender and get them to delay the foreclosure process without filing bankruptcy. Such a scenario allows an attorney .. more»

Get Education on Your Rights -Read and Know Before You Do Anything. Hire a Qualified and Licensed Attorney for Your Loan Modification The last 5 years is nothing but violations of all kinds of laws including TILA, RESPA and HOEPA by all kinds of lenders including the big lenders. My bad list of lenders include Countrywide, WAMU, and of course Citi. City has already eaten up 40 billion of federal money, and is still teetering on the brinks of a disaster. They are also at the same most arrogant and unhelpful lenders. Most of the foreclosure mess is created by these bankers, including of course many small bankers. They over qualified people who could not handle the burden of loan. These folks should not have been home buyers in the first place. The example, .. more»