Today we see another press release from Hope Now, with another initiative. Bank bailouts, implosion, and stock market news makes one point perfectly clear. Even President Barrack Obama is shunned by some shady lenders. Obama is ignored by shady mortgage servicers. No matter how hard Hope Now actually tries, investors block every attempt to actually [...]
Can you image how it would feel if your mortgage company sent the sheriff to evict you from your home, if you knew you were current and had the paperwork to prove it? One woman can tell you.
January 20, 2009 – 5:20 pm
There are many people facing foreclosure. The situation is totally unacceptable. The number of older homeowners facing foreclosure, over 700,000 of whom are 50+, means it will be hard to recover in a slowing economy, and the fact that statistics are that high is also totally unacceptable. Imagine working all your life just to see [...]
January 20, 2009 – 11:06 am
Now that mortgage rates are low what does it take to refinance your home? A recent analysis by Inside Mortgage Finance found that the average score for borrowers whose loans were sold to Fannie Mae and Freddie Mac was 748 out of a possible 850. Clearly many borrowers with impaired credit will not be able [...]
November 14, 2008 – 9:42 pm
Today, about 80 percent of the $1.8 trillion in troubled mortgage loans belong to investors, according to Deutsche Bank. The rest are considered “whole loans,” held by banks or government-run mortgage giants Fannie Mae and Freddie Mac. Some people might not feel sorry for the investors, but others think investors were mislead about the safety [...]
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