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Showing posts with label Loan Modification. Show all posts
Showing posts with label Loan Modification. Show all posts
Wednesday, November 10, 2021

Foreclosure Alert - Lenders Required to Provide Single Point of Contact to Borrowers

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Starting January 2, 2022, borrowers negotiating a loan modification have a right to a single point of contact at their lender. On November...
Wednesday, May 13, 2020

Podcast | Foreclosures & Mortgage Modifications - Perspective From The Lender

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You can't just decide to stop paying your mortgage without consulting with your Lender.  In Episode 42 , Andrew and Lauren breakdown...
Friday, January 10, 2020

New Law: Mortgage Forgiveness Debt Relief Act Extended to 1/1/2021

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On December 20, 2019,  Public Law No: 116-94  extended 26 USC 108(a)(1)(E) to 1/1/2021.  According to the IRS , this law "allows taxp...
Wednesday, March 08, 2017

Guidance for Borrowers Seeking Home Loan Modifications Under the Making Homes Affordable Act

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On Monday, February 27, 2017, Fannie Mae , acting as administrator of Home Affordable Modification Program (HAMP) , implemented portions of...
Thursday, September 08, 2016

New Fannie Mae/Freddie Mac Refinance Program for 2017

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On August 25, 2016 , the Federal Housing Finance Agency (FHFA) announced a new refinance program by Fannie Mae and Freddie Mac that will be...
Tuesday, July 26, 2016

Changes to New York Foreclosure Law Impose Stringent Penalties for Failing to Negotiate in “Good Faith”

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Recently Governor Andrew Cuomo signed into law a comprehensive piece of legislation , which makes sweeping changes to New York’s requiremen...
Monday, June 20, 2016

Major Federal Foreclosure Prevention Program Will Come to an End in 2016

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The  Making Home Affordable (MHA) Program, which was launched in 2009 to assist millions of distressed homeowners facing foreclosure, is s...
Tuesday, May 31, 2016

New Making Home Affordable Handbook Released: Program to End in 2016

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The U.S. Department of Treasury recently released Supplemental Directive 16-04 ( Making Home Affordable Program – Handbook for Servicers Ve...
Tuesday, May 10, 2016

Making Home Affordable Program to End in 2016

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The U.S. Department of Treasury (Treasury) recently released Supplemental Directive (SD) 16-03 (MHA Program Termination and Borrower Applica...
Monday, July 13, 2015

HAMP Streamlined Modifications

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The U.S. Treasury Department has issued Supplemental Directive 15-06 “Making Home Affordable Program – Streamlined Modification Process”. Th...
Tuesday, May 26, 2015

The Making Home Affordable Program (MHA) has been formally extended 1 year

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The Making Home Affordable Program (MHA) , has been formally extended 1 year, through December 31, 2016, by Supplemental Directive 15-04 ....
Monday, January 12, 2015

New NYS Foreclosure Prevention Program is Closing its First Loans

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Yesterday, the New York Attorney General, Eric Schneiderman, announced in a press release that the first loans have closed in the New Yo...
Tuesday, November 25, 2014

Good Faith Decisions on Short Sales - Updates Coming 12/1/2014

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Effective December 1, 2014 , the Courts of the State of New York will oversee negotiations between lenders and borrowers to achieve a short...
Thursday, November 13, 2014

New York Foreclosure Settlement Conferences are Tools to Help Homeowners Stay in Their Homes

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New York is one of many states across the country that has implemented court-mandated settlement conferences for residential foreclosure act...
Wednesday, October 22, 2014

Ocwen Mortgages May Get a Reprieve from Foreclosure

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On October 21, 2014 the New York State Department of Financial Services sent correspondence to Ocwen 's General Counsel raising issue ...

Mortgage Modifications Update - New Base Net Present Value Model v5.0

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This revised tool is used by "servicers participating in HAMP as a tool for deciding whether to modify a troubled mortgage that is eli...
Wednesday, October 08, 2014

New Amendment Allows For Borrowers to Re-Modify Loans That Have Already Received a HAMP Modification If They Experience a New Hardship

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Great news for those struggling with their mortgage after previously receiving a modification! Now, you can re-modify your mortgage due to ...
Thursday, August 07, 2014

New Pressure for Lenders to Negotiate in Good Faith

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If you are a struggling homeowner and have sought relief via a loan modification, there may be new pressure on lenders to negotiate a mod...
Thursday, July 03, 2014

The Home Affordable Modification Program has been Extended

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If you are a struggling homeowner and have defaulted or are at risk of default on your mortgage loan, an application for the Home Affordabl...
Monday, June 30, 2014

What You Need to Know About the HAMP Loan Modification Process

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Before you apply for a loan modification, it is wise to understand and have realistic expectations about the process. The Home Affordable M...