Real Estate Industry Blog » Loan Modification

HARP Refinance – Obama Program to Help Underwater Owners

Jonathan Blackwell — Fri, 10 Feb 2012 03:53:47 +0000

HARP Refinance Program Originally started in April 2009, the Home Affordable Program (HARP) is refinance program designed to assist underwater homeowner’s with Fannie Mae / Freddie Mac mortgages. If you have a jumbo mortgage, FHA loan, VA or USDA loan the HARP is not for you. You have other options, HARP 2.0 is not one of them. [...]

What is a USDA Home Loan and its Benefits?

John E. Miller — Tue, 13 Dec 2011 20:10:16 +0000

Many people are familiar with your typical home loans that you secure through a local or national lender. However, USDA home loans are often overlooked when exploring homeownership due to a lack of familiarity with the term. USA home loans provide numerous benefits not only to rural communities but also to the borrower. What, exactly, [...]

How to Stop the Drop in Home Values

Hank Miller — Thu, 27 Oct 2011 20:38:40 +0000

The challenges facing this economy are diverse, complicated and enduring. Over the last several years and two administrations, the bleeding has continued unabated. Despite billions of dollars tossed at the problem, schemes to increase employment and opinions from economic experts on how to dig out, the country remains mired in the economic mud. A critical component [...]

Her Bank Got Enough Help When It Was in Trouble. She Didn’t.

Hank Miller — Wed, 14 Sep 2011 04:20:09 +0000

“Mimi Pierre Johnson and her husband bought their four-bedroom home in Elmont, on Long Island, for $413,000 in 2005. Then the recession blew in. Her husband lost his construction job, her real estate work slowed and their boiler wheezed and died. Their once-reasonable mortgage resembled a forbidding mountain. She dialed her bank, JPMorgan Chase, seeking [...]

Help the Housing Market – Increase Foreclosures!

Hank Miller — Tue, 13 Sep 2011 20:33:13 +0000

It’s refreshing to see an article in CNN Money reiterating what many of us in the real estate industry have known for years; that the foreclosure abatementprocess is simply delaying the inevitable. Many of the homes in the foreclosure process will never be recovered, it’s much better to foreclose and get on with the next [...]

Fed Sponsored Refi’s – Spend, Don’t Save the Difference!

Hank Miller — Tue, 13 Sep 2011 16:08:03 +0000

As the economy continues to free fall like a stone approaching terminal velocity, the administration continues to try and pop ‘chutes to slow the decent. It’s no secret that real estate is a vital cog in any recovery, arguably the most vital as it impacts both personal and commercial/industrial wallets. Distressed home inventory remains high [...]

Loan Modifications: Are They Real?

Justin McHood — Thu, 30 Jun 2011 17:47:24 +0000

I was discussing the current state of the mortgage and real estate market last week with someone when the topic of loan modification came up. The person asked: Are loan modifications real? And I couldn’t help but chuckle. My reply: “Of course they are real. Wait. I think they are real. Ok, I admit it [...]

HSBC to make some major changes to its Mortgage Divisions

Jonathan Katz — Wed, 08 Jun 2011 01:39:39 +0000

In recent history time has shown HSBC to be in the process of consolidating its mortgage divisions. A recent letter sent out to our customers who have a mortgage that is being serviced by HSBC Mortgage Corporation division, in possibly yet another decline in their company standings, as many of the other HSBC divisions before [...]

Do You Know Who Owns Your Mortgage?

Hank Miller — Wed, 20 Apr 2011 00:56:43 +0000

If by chance you missed the recent 60 Minutes piece asked “Who Owns Your Mortgage”, you need to catch it by hitting the link below. This is nothing short of vile; clear and undeniable fraud has taken place again and again with these legal documents and yet not a single criminal charge has been brought. [...]

Chase: Phone Number Changes (Contact Information Changes)

Jonathan Katz — Sun, 10 Apr 2011 16:55:59 +0000

Chase, one of the mega Goliaths in the mortgage servicing industry is about to start a major renovation on their phone systems. In a conversation the other day with a representative in the Executive Office it was divulged to one of our negotiators that there were going to be some major changes in the phone system [...]