More troubled homeowners have fallen out of trial mortgage modifications than have received long-term help, a new government report released Monday shows.
But nearly half of these borrowers received alternate help, while only 7% have fallen into foreclosure, according to the latest report on the administration’s signature housing-rescue plan, Home Affordable Modification Program, known as HAMP.
Also, [...]
Posts Tagged ‘Obama administration’
Troubled borrowers get help outside Obama mortgage plan
June 22nd, 2010 by Mortgage Writer
Tags: borrowers, financial crisis, foreclosures, home loans, homeowners, housing market, loan, mortgage, mortgage modification, Obama administration, subprime mortgages
more...Wells Fargo Mortgage Modification Options For Lower Mortgage Payments
June 15th, 2010 by Mortgage Writer
Wells Fargo homeowners may be able to obtain a mortgage modification in order to get a lower mortgage payment on their home. Many homeowners need a lower home loan payment in order to make ends meet since various individuals are still struggling financially due to a variety of economic factors.
Homeowners have been seeking home loan [...]
Tags: foreclosures, home loans, homeowners, lenders, mortgage modification, Obama administration
Treasury to increase pressure on mortgage industry
December 1st, 2009 by Mortgage Writer
Faced with sluggish progress in its foreclosure-prevention effort, the Obama administration will spend the coming weeks cracking down on mortgage companies that aren’t doing enough to help borrowers at risk of losing their homes.
Treasury Department officials said Monday that they will step up pressure on the 71 companies participating in the government’s $75 billion effort [...]
Tags: borrowers, foreclosure, foreclosure crisis, homeowners, lenders, loan modifications, loan services, mortgage companies, Obama administration, Treasury Department, wells fargo
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