Fannie Mae and Freddie Mac’s regulator announced Tuesday that the housing finance giants will implement a sweeping plan to prevent distressed borrowers from losing their homes to foreclosure. The new program, which goes live December 15, aims to speed up the loan modification process by using a more-streamlined protocol.
Here are the details:
The new plan [...]
Tags: "mortgage modification" · Government Bailout · Mortgage Refinancing
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 [...]
Tags: "mortgage modification"
The following Peter Schiff article comes from the San Diego Tribune. Peter Schiff is president of Euro Pacific Capital and author of “The Little Book of Bull Moves in Bear Markets.” … [For the view of the other side, read this post].
If you are a mortgage holder who is either struggling with crushing payments, [...]
