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Making Home Affordable: Program’s Loan-To-Value Limit May Soon Change

Making Home AffordableThe “Making Home Affordable” program introduced by the Obama administrationis may soon change to allow higher LTV (Loan-To-Value) ratios which in turn will open the program to more borrowers, particularly those with upside-down mortgages (mortgages where loan amount signifficantly exceeds the property value due to falling home prices).

The program is currently open to the borrowers who’s loan amounts are…

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Positive Results Reported Due To Loan Modification Programs, According to FDIC’s Bair

Loan Modification ProgramsSheila Bair, the chairman of the Federal Deposit Corp has noted that the loan modification efforts are having positive results, but their ultimate success will most likely depend on the economy and mortgage market.

“My sense is that it’s having an impact,” … but “there is obviously still distress in the mortgage market” Bair said in answering questions after a…

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FHA Streamline Refinance: What You Need to Know

FHA Streamline RefinanceFHA Streamline Refinance” refers to a process of refinancing a FHA mortgage and specifically the amount of documentation and underwriting that is required to be completed by the lender. The process (as any refinance) involves certain closing costs that are either paid up-front or rolled into the amount of refinance.

The requirements for the FHA Streamline Refinance are as follows:…

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Official FDIC Loan Modification Guidelines

FDIC Loan Modification ProgramThis guide provides an overview of the FDIC’s program to assist bankers, servicers, and investors in this process. It outlines FDIC program terms at IndyMac Federal Bank, offers insight into the specific portfolio characteristics that drive modification modeling at that bank, and provides a framework for developing and implementing a similar program at your institution.

Federal Deposit Insurance Corporation (FDIC)…

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Explaining the Obama Loan Modification in Simple Terms

Obama Loan ModificationBy default, most people are optimists. We all like to think that if our government creates a policy in a time of a crisis we can all depend on it to fix the problem at hand. The Obama administration has moved very quickly to address the housing problems that we all face as a nation and I applaud the effort.…

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Have You Heard About A Loan Remodification?

Loan RemodificationRemodification is a term that many people use when they are speaking about a loan modification. If you read a newspaper, watch television, surf the internet or even have a drink at your local neighborhood bar you can’t escape it, loan modification is a new buzz word. There is a good chance you are even considering a loan re-modification for…

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Heartbreaking Video Footage of Foreclosure Evictions

Chris Hansen of Dateline NBC follows police with a camera crew while evictions are being conducted. The eviction victims are interviewed. This truly is a heartbreaking video. Be sure to explore your loan modification options and prevent foreclosure from happening. It is now easier than ever to perform loan modification and a number of government-subsidized programs…

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Loan Modification Company Vs DIY Modification

Several government-subsidized loan modification programs made it easier than ever for struggling homeowners to modify their mortgages to a more affordable rate and prevent foreclosure. Borrowers who wanted to refinance in the past but could not qualify because their properties have lost value may be able to get a new more affordable rate meaning a lower payment.

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Prevent Mobile Home Foreclosure With Loan Modification Program

When mobile homes were first being sold, most did not qualify for traditional mortgages, as most lenders treated them much the same a vehicle sales. After all, a buyer who could not make their payments could hook them up to a truck and drive them away to avoid mobile home foreclosure. However, as more people began buying mobile homes and…

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All About The Foreclosure Refinance

When it comes to being behind on the mortgage payment, there is nothing worse because your home is the biggest bill you have and the one that is probably the most important. So when you are not able to pay the mortgage company, you are probably not able to pay a lot of other companies. This means that your credit…

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