... and Bank of America, temporarily halted foreclosures to ensure that all paperwork was in order. The resulting outcry has led to the executives of several large mortgage providers being called before congress to answer for their companies' actions. Many in Congress are seeking solutions that would keep Americans in their homes rather than face foreclosure. Loan modification is seen as a possible solution to the problem. According to Senator Tim Johnson (D-SD): "Foreclosure should be the last option and we need to examine barriers to mortgage modifications." The Government's HAMP Program While the government again appears to be pushing ... to work with borrowers to restructure loans, it should be remembered that loan modifications were previously thought to be a possible fix to the situation. Touted by the Obama Administration, the Home Affordable Modification Program (HAMP) set out to help up to three million troubled American homeowners stay in their homes. The Wall Street Journal reports, however, that of the 1.4 million homeowners who were approved for temporary modifications, over half have been dropped from the program because they did not actually qualify for the loan modification. Many of those same families are now back into the same dire situation ...
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... Unless you've been hiding under a rock, you know that today's real estate market is challenging! Prices dropped quite a lot over the past two years due to the housing bubble. Because of this a lot of sellers are having trouble getting enough for their homes to cover their mortgage. Things aren't all rosy for buyers, either. Qualifying for a mortgage in today's world is much, much more difficult than it was two or three years ago. So, how can you find opportunity in today's market to find the house of your dreams? ...
Tags: real estate | real estate agent | good real estate |

... difficult circumstances comes opportunity. Unfortunately, for many homeowners, those taking advantage of the opportunities presented by these difficult times are loan modification scammers. For those struggling to make or those who have fallen behind on their mortgage payments, bankruptcy may provide a solution for homeowners that want to keep their homes. ModificationScams Not every company is in the business of helping you keep your home. Some, in fact, do not care if you keep your home or not, they just want your money. Some of the most common loan modification scams are: Bait-and-Switch - a scammer will ask you to ...
Tags: Chapter 7 | chapter 13 | bankruptcy lawyer | Gwinnett County Bankruptcy | Lawrenceville | foreclosure |