Fannie Mae, Freddie Mac and HOPE NOW, along with the Treasury and Federal Housing Finance Agency (FHFA), devised a free market plan to help only those homeowners whose mortgages are guaranteed toxic. In compliance with the Bush Administration doctrine – assist no homeowner who can make his payments or can be foreclosed profitably. [Sarcasm homegrown]. [...]
Roundup of Lenders Participating in the Streamlined Mortgage Modification Plan
November 13th, 2008 · 1 Comment
Tags: "mortgage modification" · Government Bailout
Countrywide To Expand Its Foreclosure Help Program
February 11th, 2008 · 3 Comments
Countrywide under heavy pressure to help borrowers avoid foreclosure, announced an expanded program to help people with subprime mortgages stay in their homes. The program created by the largest U.S. mortgage lender and the Association of Community Organizations for Reform Now, or ACORN, comes as hundreds of thousands of borrowers nationwide face rising rates on [...]
Tags: Avoiding Foreclosure · Mortgage Refinancing
California Hires Foreclosure Help Counselors
January 17th, 2008 · No Comments
A group of mortgage lenders and non-profit organizations have pledged $4.6 million to allow foreclosure prevention counseling agencies in California to hire more staff to deal with strong demand from struggling homeowners, the companies said Monday. Mortgage counseling agencies statewide can apply for funds from the two-year spending program, dubbed the California Home Ownership Preservation [...]