Articles by Professor Loan Mod
Recapping the qualifications for the HOME AFFORDABLE MODIFICATION PROGRAM: HAMP -
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Professor Loan Mod
We are nearing the end of 2010 and many of you have felt the past years hardship financially. The government's Home Affordable Modification Program will run its course till 2012. With the inception of the program it has saved thousands from losing their home and...
Answering your questions on Home Affordable Foreclosure Alternative program HAFA -
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Professor Loan Mod
What is a short sale? It is when you try to sell your home for less than what you owe and is sold at the lower price then what you owe the lender. What is the Eligibility for HAFA? You can request for a short...
Home Affordable Guidelines for Rental Income -
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Professor Loan Mod
If you own a rental property below is information you will want to know before you apply for your loan modification. This is for homeowners who are trying to modify their primary home, but may have other property they own. If you are trying to...
What is Dodd-Frank Certification? How does it tie in with Making Home Affordable Modification Program? -
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Professor Loan Mod
If you are going to apply for the government's modification program under Home Affordable or Making Home Affordable you will want to know about the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111-203). You will be required to furnish this information in...
Home Affordable Modification Program Guidelines Part 1 How to write your hardship -
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Professor Loan Mod
These series of articles will walk you through step by step what you need to know to apply for a loan modification under the government's Home Affordable Modification Program HAMP. Hardship letter guidelines: Below you will find exactly what the program considers a hardship. Hardship...
Staying on top of your lender and your Home Affordable Modification request -
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Professor Loan Mod
So what do you do if you actually know more about what options maybe available to you then the negotiator on the phone or lender representative helping you? By the way how is that possible even? Unfortunately, one of the issues with the larger lenders...
How to avoid foreclosure, post pone a sale date and stay in your home -
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Professor Loan Mod
I'm facing foreclosure and need to know my options? - Apply for a loan modification HAMP program - Repayment plan - File for bankruptcy - Hire an Attorney The above are only some of the options if you want to keep your home, if you...
How can I accelerate the loan modification process? And stop foreclosure -
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Professor Loan Mod
Due to the volume of applications the lenders are dealing with, and the amount of people requesting a loan modification or foreclosure assistance has increased so drastically it has been extremely hard for the lenders to keep up. This process from beginning to end can...
Fannie Mae's new website KNOW YOUR OPTIONS -
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Professor Loan Mod
The government is trying to reach out to homeowners as much as possible. With the inception of the Federal government's Home Affordable Modification Program, Making Home Affordable and the numerous programs available for FHA and VA loans, it is still a wonder as to why...
Escaping Lawsuits by the skin of their teeth as Big Banks slide by -
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Professor Loan Mod
We all have heard of the foreclosure "robo-signing" mess, and as the 50 state investigations continues, homeowners across the country are diving in filing lawsuits. The problem with this and why the banks have thus far avoided national class action lawsuits is partial because most...
What you need to know about the foreclosure process -
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Professor Loan Mod
The Home Affordable Modification program has updated their guidelines and has republished the full booklet on their website. Below is a brief recap of key items you need to know. This article part 1 of 3 and will review the steps outlined in the online...
Self Employed Borrowers seeking a Loan modification -
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Professor Loan Mod
If you are one of the many people in the country who are self employed and do not use Quick books or an account to keep track of your monthly business expenses. You may want to consider doing so in the future, your accountant would...
Lenders under investigation in all 50 states for foreclosure fraud! -
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Professor Loan Mod
There is a 50 statewide investigation going on to see how wide spread the faulty documents to foreclose on homeowners has spanned. Recently some states have filed civil lawsuits against some of the top lenders in the country. Ohio state attorney general has filed a...
Government's HAMP program not making many friends -
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Professor Loan Mod
The general consensus towards the government's home ownership assistance program Home Affordable Modification Program HAMP is nothing but a little soured due to the lack of homeowners it has actually helped. One of the issues the governments program is facing is due to a poor...
Finding the right help when applying for a loan modification -
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Professor Loan Mod
The web is crawling with DIY (do it yourself loan modification) kits, from cd's to ebooks' you can pretty much find anything and everything to help you save your home. Question is will they really help you? Where do you go to find inside information...
Foreclosure fraud: Looming issues for some of the top Banks -
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Professor Loan Mod
Bank of America, JP Morgan and Chase, and GMAC have all been in the headlines recently for bad practices with their foreclosure procedures being called into question. With the implementation of the Obama Housing plan, Home Affordable Modification Program HAMP, it has helped thousands...
What if I have a second lien and I have qualified for a Trial Modification under Home Affordable Modification Program -
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Professor Loan Mod
If you have qualified your first mortgage under the Home Affordable Modification Program and already have begun making your trial payments, but are wondering if you second mortgage lien will qualify for assistance under the same loan modification program. Here is what you will need...
How long does it take to get approved for a HAMP trial modification? -
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Professor Loan Mod
If you have applied for the government's trial modification program HAMP and it has been awhile since you have heard anything you should contact your lender and see what the status is of your application. The average lender's turnaround time for approval can vary on...
