Tag Archives: Loan Modifications

Would You Stop Making Mortgage Payments for a Principal Reduction?

Edward DeMarco is weighing the possibility of reducing the principal of hundreds of thousands of Fannie and Freddie mortgages. The decision hinges on just how many additional underwater borrowers would strategically default in order to possibly get their principal reduced. Social mood is hard to forecast. Demarco states: A key risk in principal forgiveness targeted […]

Nearly 35% of California Mortgages Underwater

Nationally, 22.8% of all homes with mortgages owe more than their homes are worth. Another 5% are right on the edge. In California, the statistics are worse. CoreLogic reports: SANTA ANA, Calif., March 1, 2012––CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released negative equity data showing that 11.1 million, […]

Derogatory Credit: How Long Before You Can Buy A House Again?

This information updates from time to time. The latest info comes from a lender friend of mine. If you’ve gone through a short sale, foreclosure, bankruptcy, or deed-in-lieu of foreclosure, here is how long you’ll have to wait before you can buy a home again. I bet not too many folks out there are aware […]

FACT SHEET: President Obama’s Plan to Help Responsible Homeowners and Heal the Housing Market

Below is the full fact sheet of the Obama housing plan from whitehouse.gov. In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last, calling for action to help responsible borrowers and support a housing market recovery. While the government cannot fix the housing market on its own, […]