Archive for the ‘Loan Modification’ Category

Foreclosures and bank owned properties are getting a lot of play in the media right now and many buyers are focusing on these properties, along with short sales while trying to find a great deal on a house. For a change, I want to switch my focus from the buyer (the one I deal with) to the seller because I think there is some erroneous information out there about the difference between a foreclosure and a short sale as it concerns the owner of the property. Read More

I have written before about the loan modification business and I think it will probably be quite big for the next several months, just from what I have seen so far from the housing plan. The Federal Reserve is telling people that loan modifications can be handled by dealing directly with your loan servicer, but what I am hearing from a lot of people is that the loan servicers are not being very responsive to the request for a loan modification. Additionally, I am being told that some of the “non-profits” are not answering their phone or making appointments up to 90 days in advance to help people that are having difficulty with their payments. Read More

The Mortgage Market Guide® said I could copy and paste the following as I wish. Well, my wish is to share it with my readers on the Eugene Loan Guy Blog. This has some of the very best information that I have seen about the Housing Plan announced by Secretary Geithner last week and answers a lot of questions about loan modifications. Now, one of the things that I have stressed is that you should not need to pay someone to do a loan modification. However, there are times that it is just impossible to get everything done because the lender is being difficult. In that case, you might want to hire a modification company with a good track record. Ask for references! I have added some emphasis. Read More