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Tag Archives: Loan Modifications
New Standards Would Require Mandatory Loan Modifications Before Foreclosing
Banks would be required to offer all qualifying homeowners a loan modification before foreclosing on them. Bills to establish a national standard are circulating The Hill.
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Posted in Foreclosures and Short Sales, Home Economics, Mortgage News
Tagged Foreclosures, Loan Modifications
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Illinois to Waste $100 Million in Mortgage Relief Program
Given a budget deficit of $1.4 trillion, we cannot afford to waste $100 million on ridiculous mortgage relief programs. Yet that is what bureaucrats want to do with a “pilot program” in Illinois. Worse yet, the proposal is sure to expand to other states wasting billions more taxpayer money. Continue reading
Posted in Fresh Perspectives, Home Economics
Tagged Illinois, Loan Modifications, Mortgage Relief
1 Comment
Anticipating Strategic Defaults: Who is most-likely to walk away from their mortgage?
FICO has developed a predictive analytic solution that can determine which borrowers are more likely to walk away from their mortgages. This could help banks reach out to those borrowers ahead of time, reducing the number of strategic defaults in their portfolios. Continue reading
A Smarter, Cheaper, More Effective Foreclosure Prevention Program
Pennsylvania has a better foreclosure prevention program that could be a model for the rest of the country. Continue reading
Posted in Foreclosures and Short Sales
Tagged Foreclosures, HAMP, Loan Modifications
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California is Wasting Mortgage Relief on HELOC Abusers
WTF? Why would we want to bail out people who were abusing their HELOCs after the property crash? Have we learned nothing? Are houses and HELOCs truly free money? Continue reading
Posted in Fresh Perspectives, Home Economics, Mortgage News
Tagged california, HELOCs, Loan Modifications, negative equity
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