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Consumer Alert - Mortgage Foreclosure Scams |
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Written by Administrator
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Monday, 15 December 2008 |
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DON'T GET "LOCKED OUT" OF YOUR HOME
BY A BANKRUPTCY SCAM OPERATOR
Are you having trouble making your home mortgage payments? Are you facing foreclosure on your home? Get all the facts before you pay someone to help you work out your mortgage problems.
"Bankruptcy foreclosure scams" target people whose home mortgages are in trouble. Scam operators advertise over the Internet and in local publications, distribute flyers, or contact people whose homes are listed in the foreclosure notices. Sometimes they direct their appeals to specific religious or ethnic groups.
These scam operators may promise to take care of your problems with your mortgage lender or to obtain refinancing for you. Sometimes they also ask you to pay your mortgage payments directly to the scam operator. They may even ask you to hand over your property deed to the operator, and then make payments to the operator in order to stay in your home.
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Last Updated ( Monday, 15 December 2008 )
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Read more...
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Consumer Alert - Advance Fees and Loan Modification Services |
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Written by Administrator
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Monday, 15 December 2008 |
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If you are behind in your mortgage payments, you may be contacted by individuals or companies that will offer to help you work out a loan modification with your lender or provide other services to you in order to help you prevent a foreclosure on your home.
Advance fees for loan modification services are now illegal in California and FREE loan modification counselling services are available.
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Last Updated ( Friday, 16 October 2009 )
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Read more...
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Hope Now Streamlined Modification Program |
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Written by Administrator
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Tuesday, 16 December 2008 |
Fannie introduced their Streamlined Modification Program, 12-15-08. Servicers (which are usually not the same as originators) will use a streamlined loan modification process to help eligible borrowers. The SMP applies to borrowers who have missed at least three monthly payments on their existing mortgages.
http://www.hopenow.com/upload/press_release/files/SMP%20Release%20Final.pdf
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Last Updated ( Tuesday, 16 December 2008 )
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New FHA HOPE For Homeowners (H4H) |
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Written by Administrator
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Tuesday, 16 December 2008 |
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NOTE: Homeowners, contact your existing lender and/or a new lender to discuss how you may qualify for the H4H program.
The HOPE for Homeowners (H4H) program was created by Congress to help those at risk of default and foreclosure refinance into more affordable, sustainable loans. H4H is an additional mortgage option designed to keep borrowers in their homes.
The program is effective from October 1, 2008 to September 30, 2011.
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Last Updated ( Tuesday, 16 December 2008 )
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