Archive for May, 2010

Mortgage relief rises across U.S.?

The number of troubled homeowners who received permanent modifications to their mortgage payments increased by 68,000 in April. However, the number of participants who failed to complete a trial phase of the federal Home Affordable Modification Program (HAMP) also is on the rise.
United Law Group released hard numbers citing over 5,500 cases where the firm used legal channels to help homeowners get results pertaining to their home loan (such as permanent modifications, trial modifications, forebearances, and numerous extensions on sale dates). The law firm obtains results for numerous homeowners on a daily basis. Three of those who benefited recently share their stories ...
A mortgage loan modification can prevent foreclosure but inevitably will damage your credit.
Homeowners struggling to make their house payments may seek a mortgage loan modification in hopes of avoiding foreclosure and protecting their credit score. However, loan modifications also take a toll on those scores.
A mortgage loan modification can prevent foreclosure but inevitably will damage your credit.