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

Will Obama’s Mortgage Plan Work?

Mortgages

Will Obama’s Mortgage Plan Work?

Will Obama’s Mortgage Plan Work?

If you’re a homeowner who is struggling to keep up with a mortgage you can’t afford, or wondering whether to continue to stay and pay on a home that is deeply underwater, you may have seen another glimmer of hope in yesterday’s news about more proposals to address the housing crisis. Early Wednesday, preliminary details… Read More

Despite Big Glitches, Government Still Helping Underwater Homeowners

Mortgages

Despite Big Glitches, Government Still Helping Underwater Homeowners

Despite Big Glitches, Government Still Helping Underwater Homeowners

We’ve run several stories (including this one and that one) about how the federal government’s program to help people avoid foreclosure is an abject failure. Regardless, some people have still managed to get help and keep their homes. Fannie Mae and Freddie Mac, the two taxpayer-owned mortgage giants, helped over a million people refinance their… Read More

New Legislation Aims to Curb Mortgage Servicer Abuses

Mortgages

New Legislation Aims to Curb Mortgage Servicer Abuses

New Legislation Aims to Curb Mortgage Servicer Abuses

Over one million homes were foreclosed upon last year, and an estimated 8-10 million homes still face foreclosure. As things stand now, homeowners who try to work with their lenders to modify their loans will often find themselves facing a nightmare of lost paperwork, conflicting advice, and delays that ultimately cost them their homes. U.S…. Read More

One Family’s 9-Month Trip Through the Loan Mod Twilight Zone

Mortgages

One Family’s 9-Month Trip Through the Loan Mod Twilight Zone

One Family’s 9-Month Trip Through the Loan Mod Twilight Zone

Talking on the phone recently, Bevin Beckage read the bank’s letter again and laughed. Denied a modification of her mortgage after nine months spent correcting Wells Fargo’s mistakes. Denied even though the bank still can’t get its own paperwork right. Denied, even though it was a Wells Fargo employee who suggested Beckage apply for a… Read More

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