A loan modification amends the original loan agreement. The terms of the modification must be agreed to by the parties.

Another Loan Workout Nightmare, plus Resources for Saving Your Home: Arizona

Yet another loan workout or modification scam.  I am disgusted by the number of calls we receive every week detailing a company or lawyer who takes someone’s hard earned money and fails to deliver on their promise to modify the home mortgage.

CFPB Issues Guidance on Housing Counselor Requirements

Housing counselors can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. Advice from housing counselors can be provided at little or no cost to consumers. Related Post Debt Collection Surveys to be Mailed to Consumers Scam Arrest Warrants: Normally You Cannot Be Arres… New Mortgage Lending Rules – CFPB Protecting… OCWEN […]

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Fannie Mae Auctions “Sour” Mortgage Loans

According to Bloomberg News: Fannie Mae will begin bulk auctions of mortgages, including some sales targeted for non-profit groups and small investors, as Fannie Mae moves to reduce the number of non-performing loans “sour mortgages” on its books. Related Post Citigroup to Pay Fannie Mae $968M for Loans Arizona Homeowner’s Association Dues, with s… Can […]

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Consumer advisory: Don’t fall for a foreclosure relief scam or bogus legal help

Related Post HELOC – Can the Lender Foreclose in Arizona? Arizona Atty General Warns about another Mortgage … HSBC sued by NY Attorney General for Violations of… Fannie Mae Auctions “Sour” Mortgage Lo… Richard S. Berry aka Why Pay a Lawyer – indi… Mortgage Modification Frauds

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Feds Announce Litigation Against Law firms for Deceptive Loan Modification Practices

$16.2 Million Jury Verdict Against PHH Mortgage for Botched Loan Modification

The story is one that thousands of homeowners have experienced over the last 8 years: job loss, financial collapse, and possible bankruptcy.  The homeowner diligently works with the lender to reduce payments, following the lender/servicer’s instructions only to find complete mismanagement by the lender/servicer to properly document agreements and then the initiation of a foreclosure. […]

FHA’s Back to Work Program for Home Buyers

For several years I have been explaining that no one can predict the length of time that FHA, Fannie Mae or HUD, or a specific lender will require a homeowner to wait to qualify for a new home loan after a prior foreclosure, short sale or bankruptcy.

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Mortgage Modification Frauds

National City Discriminatory Loans Costs $35 Million

Related Post Debt Collection Surveys to be Mailed to Consumers $14M Reimbursement to Payday Loan Borrowers CFPB Proposed changes to our Mortgage Servicing Ru… Student Loans – CFPB Helping Deal with Finan… Debt Collectors Could Face New Rules Credit Card Fees Face New Scrutiny

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