An avid reader of The Mortgage Insider alerted my attention to a petition home owners seeking loan modifications can use to voice their frustrations with America’s foot-dragging lenders. I can surely empathize with home owners facing foreclosure in that they were told by the Obama administration at the beginning of the year, Obama’s Plan would [...]

Obama’s mortgage plan now has a website to explain the refinancing and loan modification assistance in this convoluted plan. The website called Makinghomeaffordable.gov gets reviewed here, not the efficacy of the plan itself. Makinghomeaffordable.gov Reviewed First I’m not sure why the government picked this domain name. Doesn’t it make more sense if you like these [...]

Mortgage cramdowns or the ability for a bankruptcy judge to modify the terms of a mortgage, was included in a bill (H.R. 1106 - “Helping Families Save Their Homes Act of 2009″) passed by the House recently. There is a lot in this bill besides cramdowns, so I thought it deserved a look. Mortgage Cramdowns [...]

“I am a resident of Indiana. My mortgage is 15 months late. When I talked to First Franklin a month ago they said that the sheriff’s sale was set for April 15th.” “I filed with them in March of last year. It was supposed to take 45 days. I didn’t hear back until July and [...]

A growing tactic in fighting foreclosure is the “produce the note” strategy which simply requires the lender to prove they have the right to foreclose by producing the actual mortgage note the borrower signed at closing. One Denver couple I read about here in Colorado hired an attorney who used this tactic with success. The [...]

NACA, the Neighborhood Assistance Corporation of American is doing the seemingly impossible: getting lenders to accept loan modifications on defaulted mortgages. Foreclosure victims rarely get the attention of their lender before it’s too late. However, with NACA representatives in their corner working out a payment the borrower can make and then communicating that to the [...]