http://www.renegotiatemortgagerates.com/blog Modifying Mortgage Loans for Homeowners with Interest Rate Reductions Tue, 19 May 2009 02:27:22 +0000 http://backend.userland.com/rss092 en Home foreclosure filings were seen on 342,038 U.S. properties during April, an increase of less than 1% from March and an increase of 32% from April 2008, according to the latest data from RealtyTrac. "Much of this activity is at the initial stages of foreclosure while bank repossessions, or REOs, ... http://www.renegotiatemortgagerates.com/blog/index.php/2009/05/foreclosure-loan-modification-activity-rising-32-by-year/ Even if the housing rescue doesn't lower your mortgage payments, it may still benefit you As Uncle Sam issued check after to check to keep Wall Street bankers afloat, American taxpayers--who were picking up the tab--grew increasingly resentful of paying for others' mistakes. But when President Barack Obama announced a $75 ... http://www.renegotiatemortgagerates.com/blog/index.php/2009/03/how-does-the-mortgage-relief-and-housing-bill-help-me-if-i-pay-my-mortgage/ Steps that would be taken under the Home Affordable Modification Program to rework a loan for a couple holding a $450,000 mortgage. 1. Because the couple is delinquent and wants a loan modification, they must provide two recent pay stubs and the latest income tax filing, an affadavit of hardship, and ... http://www.renegotiatemortgagerates.com/blog/index.php/2009/03/home-loan-modifications/ Chris Traczyk, a real estate agent with Long & Foster in Elkridge, said most of the listings he has been showing to buyers recently have been foreclosed properties. With several of his clients, "that's all they're requesting to see because they're thinking they'll get a great deal," despite knowing ... http://www.renegotiatemortgagerates.com/blog/index.php/2009/03/obama-mortgage-relief-bill/ The Mortgage Bankers Association released its Weekly Mortgage Applications Survey for the week ending February 20, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 743.5, a decrease of 15.1% on a seasonally adjusted basis from 875.3 one week earlier. This week’s results included an adjustment ... http://www.renegotiatemortgagerates.com/blog/index.php/2009/02/mortgage-applications-decrease-in-latest-mba-weekly-survey/ Recent reports estimated that 4 Million Floridians Living in Community Associations Face Alarming Multiplier Effect of Foreclosures on Stability of Their Communities. Results of a new survey of Florida's condominium, homeowner and other community association property owners shows mounting financial pressures caused by bank foreclosures have negatively impacted communities' ability ... http://www.renegotiatemortgagerates.com/blog/index.php/2009/02/floridia-association-cites-rising-foreclosure-rates/ If the Fed strategy works and reduces the number of foreclosures while helping the owner of the loans -- the central bank in this case -- it could serve as a model for other owners of mortgage loans. For example, the Federal Deposit Insurance Corp. has tried to use its ... http://www.renegotiatemortgagerates.com/blog/index.php/2009/02/mortgage-renegotiation-to-focus-on-reducing-principal-owed-on-loan/ According to a recent loss mitigation article, many mortgage service companies manage mortgage loans for other investors in most cases. Many home loan servicers also manage Government Sponsored Enterprises, private investors owning securities collateralized by the mortgage loans and whole home loan investors. Each investor type has different standards ... http://www.renegotiatemortgagerates.com/blog/index.php/2009/01/loan-modification-eligibility-with-fdic/ House Financial Services Committee Chairman, Barnety Frank says mortgage renegotiations are vital if the Treasury wants more bailout funds. Rep. Barney Frank told CNN News Monday that if the Treasury Department wants a second $350 billion installment of financial bailout money, it will have to come up with a ... http://www.renegotiatemortgagerates.com/blog/index.php/2008/12/mortgage-renegotiations-are-vital/ The Senate's newest sham proposal to "help" homeowners facing foreclosure has come under heavy criticism from nearly everyone who is not a politician, and even some who are. The "Foreclosure Prevention Act" does little to provide assistance in helping people keep their homes; rather, it benefits banks and homebuilders who ... http://www.renegotiatemortgagerates.com/blog/index.php/2008/10/new-foreclosure-prevention-act-empowers-banks/