Have Government Programs Helped Homeowners?

Mortgages

Have Government Programs Helped Homeowners?

Have Government Programs Helped Homeowners?

The national housing market is seemingly improving all the time, but unfortunately for many homeowners across the country, negative equity is still a significant burden that can lead to large amounts of stress and financial difficulties. However, government programs still continue to help these people to better deal with the lingering issues underwater mortgages can cause. Federal… Read More

More Consumers Are Defaulting Again on Modified Mortgages

Mortgages

More Consumers Are Defaulting Again on Modified Mortgages

More Consumers Are Defaulting Again on Modified Mortgages

The federal government has been trying for several years to help consumers with underwater home loans to rectify these problems with a number of initiatives, but new research shows that a large number of those who have received such assistance are now falling behind on their bills once again. Through the end of March, a… Read More

Almost 1 Million Homeowners Get Government Help in 3rd Quarter

Mortgages

Almost 1 Million Homeowners Get Government Help in 3rd Quarter

Almost 1 Million Homeowners Get Government Help in 3rd Quarter

For much of the last year, the housing market has generally been on a slow but steady path toward improvement, and that trend continued in November. A number of federal initiatives to make consumers struggling in the housing market more financially capable seem to be working, according to the latest housing scorecard from the U.S…. Read More

Mortgage Modification Scams Get Busted by CFPB

Mortgages

Mortgage Modification Scams Get Busted by CFPB

Mortgage Modification Scams Get Busted by CFPB

The housing market has been slowly recovering for most of the year, but the fact remains that millions of Americans are still underwater when it comes to what they owe on their mortgage versus the value of their home. As such, many may be looking for some relief, and scammers are now preying on that… Read More

More Underwater Homeowners to Get Mortgage Help

Mortgages

More Underwater Homeowners to Get Mortgage Help

More Underwater Homeowners to Get Mortgage Help

In the past, many have criticized the federal government’s various home loan assistance programs. In order to help more people find some amount of relief from their problems, the U.S. Department of the Treasury is expanding these initiatives. One particular area of criticism for the Obama administration was its Home Affordable Modification Program, which was… Read More

Fed: Anti-Foreclosure Programs Can Succeed

Mortgages

Fed: Anti-Foreclosure Programs Can Succeed

Fed: Anti-Foreclosure Programs Can Succeed

By now the government knows how to create a program that totally stinks at preventing foreclosures. As we reported late last year, the federal government’s Home Affordable Modification Program (HAMP), aimed to help up to 4 million people avoid foreclosure has been an abject failure, and its performance hasn’t improved in the ten months since…. Read More

Treasury: Top Three Banks Doing Poor Job at Mortgage Modifications

Mortgages

Treasury: Top Three Banks Doing Poor Job at Mortgage Modifications

Treasury: Top Three Banks Doing Poor Job at Mortgage Modifications

The nation’s three largest bank-owned loan servicers are doing such a poor job modifying mortgages for distressed homeowners that the federal government will stop paying them until they improve, according to a report released Thursday by the Treasury Department. Bank of America, JP Morgan Chase and Wells Fargo all need to make “substantial improvements” before… Read More

Family’s Loan Modification Troubles End in Success, For Now

Mortgages

Family’s Loan Modification Troubles End in Success, For Now

Family’s Loan Modification Troubles End in Success, For Now

In March we told you about Bevin Beckage, a mother of three who spent nine months wrestling with Wells Fargo over whether she qualifies for a mortgage loan modification. The bank repeatedly lost her paperwork, broke promises to stay in communication, and ultimately denied her a modification based on incorrect information. After Credit.com’s investigation, Beckage’s… Read More

Congress Votes to Kill Mortgage Program

Mortgages

Congress Votes to Kill Mortgage Program

Congress Votes to Kill Mortgage Program

The U.S Congress voted 252 to 170 on Tuesday to kill the Obama Administration’s signature program aimed at reversing the foreclosure crisis. The Home Affordable Modification Program (HAMP) has fallen far short of its goals to prevent 4 million homeowners from falling into foreclosure. So far the program has helped just over half a million… Read More

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