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Tag Archives: HAMP

Can I Get a HAMP Modification if I Have a Second Mortgage? – Jim

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“Dear Steve, Residence is underwater Can I acquire a “HAMP’ loan modification if I have a first mortage with GMAC and a second mortage (Equity line with Wells Fargo). GMAC balance $71,000 and Wells Fargo equity balance $99,500. Zillow value is $123,400. Please advise as Wells Fargo could not accomodate with loan or GMAC due to second mortage. I do ... Read More »

Chase is Giving Me a Runaround About My Mortgage – LeeLuv

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Sorry if this is too long… I became disabled due to medical condition. I am now drawing adequate private disability insurance after 6 months out of work. There have been many other factors, but I am 6 months behind on my mortgage. I have been trying to work with Chase, but they have been terrible. I get letters telling me ... Read More »

Deceitful Debt Relief And Mortgage Operation Shut Down

A United State district court has shut down two related operations who apparently failed to provide promised debt relief services and jeopardized clients’ privacy by at the Federal Trade Commission (FTC)’s request. Apparently one firm charged consumers a $1,495 up front fee for a mortgage relief assistance program that was never given as well as tossing personal information into unsecured ... Read More »

Reader Feels Shafted by OCC and CitiMortgage on HAMP

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Rudy, a reader of the site forwarded me this information to share with you regarding their recent attempts to get their mortgage modified through HAMP. Rudy Says Dear Steve: Who will bail us out while our government can bail out hundreds of billion dollars to big banks and other financial institutions because they are just “too big to fail”? (total ... Read More »

Lawsuit Reveals How a Middleman Is Blocking Mortgage Modifications for Homeowners

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by Paul Kiel, ProPublica Pamela Jeter of Atlanta, Ga., has been trying to get a mortgage modification for more than two years. She seems like an ideal candidate. She has shown she can stay current with a reduction in her monthly mortgage payments. Everybody would seem to win. Even the investors who ultimately own her loan think she should be ... Read More »

Who Should I Apply With for Help With My Bank of America Mortgage? – Stephanie

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“Dear Steve, I am a single mother, 30yr fixed mortgage @ 5.375% =$910 Co-borrower: mother Remaining term: 28yrs, 10 months Association Dues=$110 (plus an additional $350 was due by this year’s end! and is finally paid off) Far too much credit card debt for my comfort=$3,500 total Student Loans=$60/mo Auto=$235/mo. Still owe appx $7,000 Utilities, taxes, health insurance, etc… My ... Read More »

Bank of America Mortgage Modification Through HAMP, Blows!

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New data out from the Treasury Department on the Making Home Affordable Program shows the depressing conversion rate of people seeking to get their mortgage modified and stay in their homes. What is so amazing in the data is the wide difference in the conversion rates per lender. Here is a list of lenders and their rates of converting mortgages. ... Read More »

NPV Report. Brian Colombana is Back in the Mortgage Modification Business. This Time With a Report.

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A recent commenter on this site pointed out in a comment on this article that disbarred California Attorney, Brian Colombana, formerlly associated with Liberty Law, is back in the troubled mortgage business. This time he is selling reports to help people know if they meet the federal guidelines for the HAMP program. The NPV Report domain, npvreport.com is owned by ... Read More »

Loan Modification and Foreclosure Prevention Programs Are Not Working for Most

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North Carolina just released a report which did a great job of narrowing in on the core issues that I hear from many people attempting to get their mortgage loans modified or who think a foreclosure prevention program is going to help save their house. For a small minority of applicants these programs are effective, but for the vast majority ... Read More »

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