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HAMP Saves 500,000 Homeowners – Lenders Look At Damage Control Options

It is an unquestionable fact that signing 10,000 potentially fraudulent foreclosure affidavits a month shows an amazing amount of devotion to such a deed. One cannot help but think that if such diligence was applied to helping retain some of the people who lost out on their homes, finding themselves at the wrong end of badly conducted foreclosure procedures.

Continue reading HAMP Saves 500,000 Homeowners – Lenders Look At Damage Control Options

Easy Access To Loans – Major Reason For Foreclosure And Housing Market Slump

The current state of the economy is very much on the brink of a new low though facts and figures released in various economy analysis reports suggest the economy is likely to recover slowly and the growth rate is moving at a modest but steady pace. Even if these reports are to be believed there are still a long list of obstacles that individuals have to endure in order to survive in the current market scenario.
Continue reading Easy Access To Loans – Major Reason For Foreclosure And Housing Market Slump

Housing Market Scandal Lands Decision Makers In A Catch-22 Scenario

Real Estate disaster is wrecking Hawaii as one of every 371 households in the state was foreclosed last month. This is the ninth highest rate in the country as suggested by the figures of real estate research firm RealtyTrac. Foreclosure procedure for up to 14,408 houses in the island had started by last month and more than 2,000 of these houses had been sold since the first quarter of 2008 as reported by the Center for Responsible Lending.

Continue reading Housing Market Scandal Lands Decision Makers In A Catch-22 Scenario

Freeze On Foreclosures Can Have Long Lasting Effect On US Housing Market

The Bank Of America had a freeze on foreclosures in 20 states in the US where the foreclosures are required to be approved by the court before they can go through. Now, they have included all 50 states into this new requirement. While all these new frozen foreclosures will come as a blow immediately on the still unstable US housing market, the effects might reach far ahead into the near future.

Continue reading Freeze On Foreclosures Can Have Long Lasting Effect On US Housing Market

Home Loan Modification Program

In an attempt to rescue homeowners across the country, who are overwhelmed with their current housing obligations and need loan modification help. The Obama administration has announced its loan modification programs.

The plan is to primarily target two different segments of homeowners.

The first segment constituting of those who are paying their mortgage faithfully and would like to . . . → Read More: Home Loan Modification Program

HAMP loan modifications are more likely to avoid foreclosures

High foreclosures and loan delinquencies have a significant negative impact on the United States economy. To fight this impact government implemented (Home Affordable Modification Program) HAMP program to help troubled home owners modify loans and get their payments under control. Following this program commercial banks also started to modify their problematic loans at increased rate. But . . . → Read More: HAMP loan modifications are more likely to avoid foreclosures