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
Project Lifeline Unveiled for Homeowners in Foreclosure
February 12th, 2008 · 1 Comment
Project Lifeline, which allows extra time for lenders and borrowers to try to work out more affordable terms, was unveiled today. The program would let qualified homeowners who are at least 90 days late on their mortgage payments pause the foreclosure process for 30 days to figure out a way to modify the mortgage. “Project [...]
Tags: Avoiding Foreclosure · Foreclosure Information · Mortgage Legislation · 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 [...]