Bill Calls For Credit Score Help Along With Loan Modification
Here is an article from the Chicago Tribune 2 days ago regarding a possible new law to help people deal with credit score issues after a loan mod.
Entries by Scott Lanin
Can A HAMP Trial Loan Mod Payment Plan Hurt Your Credit And Leave You Worse Off?
Your lender puts you into a HAMP trial loan mod. You are thrilled. You begin to make monthly payments. Here are some questions to consider:
Bankruptcy Game Changer May Be Coming Soon
A new law amending New York’s exemptions may be coming very soon. One thing it may do is increase the homestead exemption. This could make Chapter 13 an excellent option for homeowners who have equity but are behind on their mortgage payments and have credit card debts that they cannot currently afford. With increased exemptions, […]
Many Homeowners Unhappy With Obama’s Program – Bank’s Lose Files Regularly
MSNBC.com and the Associated Press are reporting about problems with the HAMP loan modification program,
Feds Announce Arrests in Mortgage Fraud Crackdown
The Department of Justice is undertaking a major crackdown on mortgage fraud and predatory practices. Here is the story. It’s a reminder to any homeowner – if it sounds too good to be true, it probably is. Be cautious when approached by unregulated unlicensed individuals who claim that they can help you. They sometimes call […]
Even More Questions and Answers: ML 09-23 / FHA-Home Affordable Modification Program
Following up on my last post, here are some more questions and answers regarding HAMP.
HAMP FAQs
If you are a New York homeowner looking for help with your mortgage loan, please contact us by email or phone or use our free consult link on this page. Whatever you decide to do, stay away from non-lawyer “consultants.” These people are dangerous and we hear horror stories every day from people who have […]
A New Problem – Foreclosure and Mortgage Loan Modification When The Loan Is Not In Your Name
I am seeing a recurring new problem. Many clients and callers own properties with mortgage liens but the mortgage is in someone else’s name, usually a family member like a spouse, parent or cousin. It appears that many such loans were made around 2005 when values were increasing and homeowners refinanced to tap into their […]
Stated Income Loans Disappear – Hard Times For Self-Employed Trying To Get A New Mortgage Loan
The NY Times has written an interesting article about the difficulty that self-employed borrowers are having obtaining financing. Here is the article.
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