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Dennis Norman Bank of America announced that it is the first mortgage servicer to sign an agreement formally committing to participation in the pending second-lien component of the federal government’s Home Affordable Modification Program (HAMP). Bank of America has systems in place to begin implementing the Second Lien Modification Program (2MP) with the release of final [...] Dennis Norman Last week the Treasury Department issed a report which included stats on the Home Affordable Modification Program (HAMP) which is part of the Obama administrations’ Making Home Affordable Program and “is a loan modification program designed to reduce delinquent and at-risk borrowers’ monthly mortgage payments”. The HAMP program got underway around March of this [...] Dennis Norman Today the Federal Housing Finance Agency released it’s “Foreclosure Prevention & Refinance Report for the Third Quarter 2009“. This report gives data on Fannie Mae and Freddie Mac, the two-quasi-government agencies that either own or insure most of the home loans in the U.S., including how foreclosure prevention and loan modification programs under the [...] Dennis Norman Last week I did a post about the Obama Administrations’ Home Affordable Modification Program (HAMP) and showed how it really has not been effective in helping keep families in their homes and avoid foreclosure as was the intention by the administration. When my kids tell me they don’t like the way I want them [...] Dennis Norman This week the Treasury Department issed a report which included stats on the Home Affordable Modification Program (HAMP) which is part of the Obama administrations’ Making Home Affordable Program and “is a loan modification program designed to reduce delinquent and at-risk borrowers’ monthly mortgage payments”. The HAMP program got underway around [...] Dennis Norman Last week the Treasury Department announced the Home Affordable Foreclosure Alternatives Program (HAFA), the latest program under the Home Affordable Modification Program (HAMP), designed to offer alternatives to homeowners facing foreclosure. THE HAFA PROGRAM: The Home Affordable Foreclosure Alternatives Program provides financial incentives to loan servicers as well as borrowers who do a short-sale [...] |
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