With President's Obama's plans for the homeowners facing foreclosure continuing to fall short, who can the home owners turn to for help?
When Republican presidential candidates were asked what their take is on helping homeowners they really don't have too much to say.
None of the candidates have made the foreclosure crisis a policy priority. Mostly, the candidates have argued that the housing market needs to heal on its own, without government interference.
Rick Santorum and Congressman Ron Paul have suggested tax breaks for some homeowners.
To read more on what the candidates opinions and are saying regarding the housing crisis please go to:
Posted http://www.propublica.org/article/what-do-the-republican-presidential-candidates-say-on-foreclosure-crisis-no
For a free loan modification consultation go to http://www.jdssaysyes.com
Friday, March 2, 2012
Tuesday, December 27, 2011
Still waiting for Cleanup in Foreclosure Mess
I came across an article of from Marian Wang at Propublica I would like to share:
If last year [1] was the year in which faulty foreclosures and bank errors became a full-blown scandal, this has been the year of waiting for something to be done about it.
First, there's the still-to-come multi-state settlement over alleged fraud on the part of the country's five largest mortgage servicers. That's the settlement being brokered by a coalition of state attorneys general and once touted [2] as homeowners' best bet for redressing banks' flaws in foreclosure and mortgage documentation. Over the past year, one story after another declared such a deal was imminent, but the details -- the total price tag [3], the deal's framework, and the expected date -- have continually been changing.
Earlier this month, the Des Moines Register reported Iowa Attorney General Tom Miller -- a point man for the attorneys' general probe -- as saying that the final deal should be complete before Christmas [4] and would include a measure to reduce the total debt owed by underwater homeowners. No deal has yet been announced. Miller wouldn't disclose a dollar figure on the size of the settlement -- or whether California, one of the hardest-hit states, would participate.
Over the course of the year, some state attorneys general seemed to lose faith in the coordinated effort, voicing concerns that the eventual settlement would be too easy on the banks.
California Attorney General Kamala Harris signaled her hesitation too [5], as did the attorneys general of New York [6], Delaware, Nevada, Massachusetts [7], Kentucky [8] and Minnesota [9]. These state attorneys general -- many of whom have filed their own suits against major servicers [10], foreclosure processing firms [11], and other players [12] -- questioned whether the settlement would limit their ability to take more aggressive action against foreclosure abuses in their states and either expressed doubts about whether they'd sign on to the final settlement or pulled out of the talks altogether.
Banks, meanwhile, have pushed for the settlement to include broader releases from legal liability over mortgage-related abuses. According to a recent Wall Street Journal piece, they've tried to make their participation in the settlement contingent on being shielded [13] from the possibility of lawsuits brought by the new Consumer Financial Protection Bureau.
Read more see posted at: http://www.propublica.org/article/still-waiting-for-cleanup-in-foreclosure-mess
For a free loan modification consultation go to http://www.jdssaysyes.com
If last year [1] was the year in which faulty foreclosures and bank errors became a full-blown scandal, this has been the year of waiting for something to be done about it.
First, there's the still-to-come multi-state settlement over alleged fraud on the part of the country's five largest mortgage servicers. That's the settlement being brokered by a coalition of state attorneys general and once touted [2] as homeowners' best bet for redressing banks' flaws in foreclosure and mortgage documentation. Over the past year, one story after another declared such a deal was imminent, but the details -- the total price tag [3], the deal's framework, and the expected date -- have continually been changing.
Earlier this month, the Des Moines Register reported Iowa Attorney General Tom Miller -- a point man for the attorneys' general probe -- as saying that the final deal should be complete before Christmas [4] and would include a measure to reduce the total debt owed by underwater homeowners. No deal has yet been announced. Miller wouldn't disclose a dollar figure on the size of the settlement -- or whether California, one of the hardest-hit states, would participate.
Over the course of the year, some state attorneys general seemed to lose faith in the coordinated effort, voicing concerns that the eventual settlement would be too easy on the banks.
California Attorney General Kamala Harris signaled her hesitation too [5], as did the attorneys general of New York [6], Delaware, Nevada, Massachusetts [7], Kentucky [8] and Minnesota [9]. These state attorneys general -- many of whom have filed their own suits against major servicers [10], foreclosure processing firms [11], and other players [12] -- questioned whether the settlement would limit their ability to take more aggressive action against foreclosure abuses in their states and either expressed doubts about whether they'd sign on to the final settlement or pulled out of the talks altogether.
Banks, meanwhile, have pushed for the settlement to include broader releases from legal liability over mortgage-related abuses. According to a recent Wall Street Journal piece, they've tried to make their participation in the settlement contingent on being shielded [13] from the possibility of lawsuits brought by the new Consumer Financial Protection Bureau.
Read more see posted at: http://www.propublica.org/article/still-waiting-for-cleanup-in-foreclosure-mess
For a free loan modification consultation go to http://www.jdssaysyes.com
Tuesday, December 6, 2011
FHA Refinance for Borrowers with Negative Equity
FHA Short Refinance. If you are current on your mortgage, but owe more than your home is worth FHA Short refinance may be an option that your mortgage servicer will consider. FHA Short Refinancea was designed to help homeowners refinance into more affordable, more stable FHA-insured mortgage. If your current lender agrees to participate in this refinance, they will be required to reduce the amount you owe on your first mortgage to no more than 97.75% of your home's current value.
For Eligibility and Progam Availability see Posted below website.
Posted: http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/short-refinance.aspx
For a free loan modification consultation go to http://www.jdssaysyes.com
For Eligibility and Progam Availability see Posted below website.
Posted: http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/short-refinance.aspx
For a free loan modification consultation go to http://www.jdssaysyes.com
Wednesday, September 14, 2011
Save Your Home From Foreclosure! There is help out there!
From one homeowner to another who faced foreclosure there is help out there! All I needed was a little assistance and JDS saved me $400 a month on my mortgage payment. I had already been denied once before after I lost my job......Mary C.
Don't lose your home!
Are you Delinquent with your mortgage payments? Two months? Four months? Eight months?
Facing foreclosure?
There are No credit checks or upfront fees!
No need to refinance!
Let JDS assist you in lowering your interest through Obama's Making Home Affordable Program.
Were you denied? Don't give up!
We have a 95% success rate!
Contact us now or come in and meet us.
For a free loan modification consultation go to http://www.jdssaysyes.com
Monday, August 1, 2011
Loan Modifications - The Government's Finally Penalizes the Banks
The Obama administration’s mortgage modification program is more than two years old. From the beginning, it’s been apparent that the participating banks and mortgage servicers were breaking the program’s rules [1]. The administration has long argued it has little power to do anything about it. But now, after millions of homeowners have been rejected [2], the government has decided it’s finally time to crack down.
On Thursday, the Treasury Department announced [3] it would be withholding government subsidies to the country’s three largest mortgage servicers, which are also among the U.S.’s largest banks: Bank of America [4], Wells Fargo [5], and JPMorgan Chase [6]. The banks won’t be getting more money until they show “substantial improvement.”
It’s important that the Treasury is acknowledging servicer noncompliance,” said Alys Cohen of the National Consumer Law Center, “but that’s been a problem for two years.” The action, while “better than nothing,” underscored the fact that many homeowners had been hurt during that time, she said.
Read more: http://www.propublica.org/article/govt-finally-penalizes-major-banks-for-mortgage-mod-failures
Making Home Affordable Program Reports: More than 730,000 Permanent Modifications have been started. The six-month rate of new trial modifications has consistently been about 30,000 per month for nearly a year, even as the overall population for eligible delinquent homeowners continues to decline. Homeowners who enter a trial modification now have a high likelihood of securing a permanent modification and realizing long-term success in the program. http://www.treasury.gov/initiatives/financial-stability
JDS will help just contact us now! No upfront fees!
For a free loan modification consultation go to http://www.jdssaysyes.com
On Thursday, the Treasury Department announced [3] it would be withholding government subsidies to the country’s three largest mortgage servicers, which are also among the U.S.’s largest banks: Bank of America [4], Wells Fargo [5], and JPMorgan Chase [6]. The banks won’t be getting more money until they show “substantial improvement.”
It’s important that the Treasury is acknowledging servicer noncompliance,” said Alys Cohen of the National Consumer Law Center, “but that’s been a problem for two years.” The action, while “better than nothing,” underscored the fact that many homeowners had been hurt during that time, she said.
Read more: http://www.propublica.org/article/govt-finally-penalizes-major-banks-for-mortgage-mod-failures
Making Home Affordable Program Reports: More than 730,000 Permanent Modifications have been started. The six-month rate of new trial modifications has consistently been about 30,000 per month for nearly a year, even as the overall population for eligible delinquent homeowners continues to decline. Homeowners who enter a trial modification now have a high likelihood of securing a permanent modification and realizing long-term success in the program. http://www.treasury.gov/initiatives/financial-stability
JDS will help just contact us now! No upfront fees!
For a free loan modification consultation go to http://www.jdssaysyes.com
Friday, June 10, 2011
Homeowners were forced to waive their rights to avoid foreclosure!
Homeowners beware of your rights and the fine print in your loan modifications! I was reading an article that I would like to share from a website I often visit:
ProPublica recently learned of several cases where mortgage servicers required homeowners to waive their right as part of an agreement to avoid foreclosure. In these cases, contracts provided by home mortgage servicers included clauses requiring borrowers to waive rights or state they had no defense to foreclosure. It is hard to tell how widespread this practice is. In some cases mortgage servicers insert ambiguously-worded clauses that could later limit a homeowner's defense to foreclosure. Here is just one of the many examples of the clauses that were found deep in the fine print:
* Borrower acknowledges that Lender is the holder and the owner of the Note and that as provided in the Note or as amended by this Agreement, the Lender may transfer the Note. The Lender or anyone who takes the Note by transfer and who is entitled to receive payments under the Note is called the "the Note Holder" in this agreement. from a Citi Modification -There are many more examples as Posted in http://www.propublica.org/ion/loan-modifications
For a free loan modification consultation go to http://www.jdssaysyes.com
ProPublica recently learned of several cases where mortgage servicers required homeowners to waive their right as part of an agreement to avoid foreclosure. In these cases, contracts provided by home mortgage servicers included clauses requiring borrowers to waive rights or state they had no defense to foreclosure. It is hard to tell how widespread this practice is. In some cases mortgage servicers insert ambiguously-worded clauses that could later limit a homeowner's defense to foreclosure. Here is just one of the many examples of the clauses that were found deep in the fine print:
* Borrower acknowledges that Lender is the holder and the owner of the Note and that as provided in the Note or as amended by this Agreement, the Lender may transfer the Note. The Lender or anyone who takes the Note by transfer and who is entitled to receive payments under the Note is called the "the Note Holder" in this agreement. from a Citi Modification -There are many more examples as Posted in http://www.propublica.org/ion/loan-modifications
For a free loan modification consultation go to http://www.jdssaysyes.com
Friday, May 13, 2011
Making Home Affordable's Permanent Modifications Perform Well Over Time
Larger Permanent Reductions Exhibit Stronger Performance
* Homeowners whose housing payment was cut by more than 50% through a HAMP permanent modification performed significantly better that those with a payment reductions of 20% or less. After one year, fewer that 12% of borrowers with a payment reduction greater that 50% were 60+ days delinquent.
* At 12 months, more that 84% of homeowners remain in HAMP permanent modifications. The remaining 16% have been disqualified from the program for missing three consecutive payments.
* HAMP permanent modifications continue to be sustained at better rates than industry modifications.
More than 1.5 million homeowners have entered trial modifications since program inception. These results are stated in HAMP Program Performance Report Through March 2011. Posted: www.makinghomeaffordable.gov/news/latest/Pages/Obama-Administration-Releases-April-Housing-Scorecard.aspx
You want to be a part of this program but are not sure if you qualify contact us now!
For a free loan modification consultation go to http://www.jdssaysyes.com
* Homeowners whose housing payment was cut by more than 50% through a HAMP permanent modification performed significantly better that those with a payment reductions of 20% or less. After one year, fewer that 12% of borrowers with a payment reduction greater that 50% were 60+ days delinquent.
* At 12 months, more that 84% of homeowners remain in HAMP permanent modifications. The remaining 16% have been disqualified from the program for missing three consecutive payments.
* HAMP permanent modifications continue to be sustained at better rates than industry modifications.
More than 1.5 million homeowners have entered trial modifications since program inception. These results are stated in HAMP Program Performance Report Through March 2011. Posted: www.makinghomeaffordable.gov/news/latest/Pages/Obama-Administration-Releases-April-Housing-Scorecard.aspx
You want to be a part of this program but are not sure if you qualify contact us now!
For a free loan modification consultation go to http://www.jdssaysyes.com
Subscribe to:
Posts (Atom)
