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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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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Even as housing prices drop across the country, fewer people appear close to buying a home.
The Mortgage Bankers Association reports that the volume of mortgage applications fell last week to the lowest level in nearly eight years. Additionally, the group says applications are down 61 percent from this year’s peak in February.
The decline in new [...]

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