Mortgage Foreclosure & Refinance Resource

JPMorgan Chase & Co. on Friday became the latest major bank to beef up its mortgage modification efforts as the government also considers a plan to help homeowners avoid foreclosure.
JPMorgan’s expanded program aims to help avoid foreclosures on an estimated $70 billion in loans, which could help as many as 400,000 customers. The New York-based [...]

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The U.S. Treasury Department and Federal Deposit Insurance Corp. are nearing an agreement on a plan that may guarantee as many as three million distressed mortgages, according to a report Thursday by the Washington Post. The plan, which would cost from $40 billion to $50 billion and use funds from the Treasury’s TARP program, would [...]

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Fannie Mae and Freddie Mac may no longer be able to lobby, but consumer advocacy groups sure can — and they’re already pressing regulators and legislators to see Fannie and Freddie enact wide-scale loan modifications for troubled borrowers. Think fdic and IndyMac, but on a much grander scale.
Four U.S. Senators (Charles Schumer (D-NY), Robert [...]

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