The federal government announced plans Wednesday to modify a program to make it easier for troubled homeowners to exchange problematic mortgages for more inexpensive ones. The new expedited regulations will expand on the Housing and Urban Development Department’s Hope for Homeowners program. The changes will give lenders a greater incentive to participate, by allowing them [...]
HUD Expands HOPE for Homeowners To Ease Mortgage Modification and Refinance
November 20th, 2008 · 1 Comment
Tags: "mortgage modification" · Avoiding Foreclosure · Government Bailout
Residential Capital, 5th Largest Mortgage Servicer Also Supports Streamlined Modification Plan
November 12th, 2008 · No Comments
Following the lead of many other mortgage servicers, Residential Capital has joined the mortgage lenders in supporting help for homeowners. The Chairman and CEO, Thomas Marano in response to the Streamlined Mortgage Modification Plan ssued the following statement: “Residential Capital, LLC (ResCap) strongly supports the actions taken today by the Federal Housing Finance Agency, the [...]
Tags: "mortgage modification" · Avoiding Foreclosure
Critics: Hope Now Program Not Doing Enough
April 30th, 2008 · No Comments
The pace of housing rescue efforts slowed in the first quarter of the year, according to a new report, while the number of people losing their homes to foreclosure skyrocketed during the same period.More than a half million at-risk home owners had their loans reworked during the first three months of the year, according to [...]