Professor Loan Mod

What is the latest news about loan modifications and some of the challenges they are facing. With the review of the loan modification program HAMP, we look at some of the problems facing this process and especially the government program Home Affordable.

Goldman Sachs who owns Litton Loan servicing may be looking to sell the mortgage division, before things get to hot with new rules and regulations. However, it may be a tough sell due to the state and federal investigation and possible fines and regulatory issues.

Fannie Mae tries to stream line the foreclosure process by having the mortgage servicers only use approved legal firms. 14 states have been added to this list and will know have attorney's in their network which the mortgage servicers will need to use.

A Florida based company is found violating the Federal trade commissions rules on collecting up front fee's from distressed home owners and the telemarketing sales rules. Florida is one the hardest hit states with foreclosures and many loan modifications have sprung up over the past few years. Some of these companies have preyed on the struggling homeowner making promises that they would modify their mortgages.

With everything that is happening in and around the housing market, the worst thing we can do is let the government take a way special funding for first time home buyers. This may actually happen as the government reviews different programs and pulls out of the mortgage industry. Starting with the dismantle of Fannie Mae and Freddie Mac will shift things into a new era for homeowners and potential new home owners.

The state of Florida is one of the states that have been hit hard with foreclosures, the mound so paperwork is backing up so badly that some courts are actually dismissing foreclosure cases due to lack of lender participation.

If you are looking to do a loan modification and are not familiar with some of the terms with the industry this glossary will help you understand some of the terminology used when dealing with your lender.

A new report shows how many homeowners are facing negative equity situations and how this is going to hurt the housing recovery in the long run if lenders and investors do not seriously take a look at reducing principal mortgage balances.

If you are receiving unemployment and want to know if you can apply for a loan modification to help with your mortgage, reading this article should help you understand what your options may be. If you happen to live in Arizona and own a home you should read this as well.