Comments on: Mortgage Bankers Association. A Bunch of Whiny Bitches? http://getoutofdebt.org/5427/mortgage-bankers-association-a-bunch-of-whiny-bitches Free debt help and debt advice on how to get out of debt, getting out of debt consolidation scams, and inside information on the debt relief and debt help industry. Mon, 13 Feb 2012 01:25:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: James M. Parsa http://getoutofdebt.org/5427/mortgage-bankers-association-a-bunch-of-whiny-bitches#comment-1562 James M. Parsa Mon, 09 Feb 2009 03:59:08 +0000 http://getoutofdebt.org/?p=5427#comment-1562 I could not help but nod my head in agreement. The tragedy of all this? Who get's the short end of the stick? The home owners, not the lousy banks or creditors... I bet home owners would like to see some practical information that may help them in this maladjusted reality we're living in... As a practicing attorney of 17 years, (not all lawyers are bad guys btw) I just want to say the best defense is a strong offense. Scams and frauds are running rampant in these troubled times and so more than ever, people need to be educated to some degree on the subject at hand. Make sure you ask questions, do your studying and cross-reference ALL information! Sounds like a lot of work right? I bet it is less than losing your home and going through the trauma and suffering that road holds... Trust me, I've seen it too many times to count at this point... And great post Steve, keep em coming. We need all the help we can get! James M. Parsa Attorney at Law Parsa Law Group I could not help but nod my head in agreement.

The tragedy of all this? Who get’s the short end of the stick? The home owners, not the lousy banks or creditors…

I bet home owners would like to see some practical information that may help them in this maladjusted reality we’re living in…

As a practicing attorney of 17 years, (not all lawyers are bad guys btw) I just want to say the best defense is a strong offense. Scams and frauds are running rampant in these troubled times and so more than ever, people need to be educated to some degree on the subject at hand. Make sure you ask questions, do your studying and cross-reference ALL information! Sounds like a lot of work right? I bet it is less than losing your home and going through the trauma and suffering that road holds… Trust me, I’ve seen it too many times to count at this point…

And great post Steve, keep em coming. We need all the help we can get!

James M. Parsa
Attorney at Law
Parsa Law Group

]]> By: beachdude http://getoutofdebt.org/5427/mortgage-bankers-association-a-bunch-of-whiny-bitches#comment-1552 beachdude Fri, 06 Feb 2009 05:34:29 +0000 http://getoutofdebt.org/?p=5427#comment-1552 A Mortgage Modification is a process whereby a home owner's mortgage is modified and both the lender and homeowner are bound by the new terms of the new mortgage. The most common mortgage modifications are listed below: lowering the mortgage interest rate reducing the mortgage principal balance fixing adjustable interest rates within the mortgage increasing the loan term throughout the mortgage forgiveness of payment defaults and fees or any combination of the above A Mortgage Modification is a process whereby a home owner’s mortgage is modified and both the lender and homeowner are bound by the new terms of the new mortgage.

The most common mortgage modifications are listed below:

lowering the mortgage interest rate
reducing the mortgage principal balance
fixing adjustable interest rates within the mortgage
increasing the loan term throughout the mortgage
forgiveness of payment defaults and fees
or any combination of the above

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