follow me on twitter subscribe to feed
# HowTo Package Your Loan Mod Application Kit
# HowTo Phone Negotiation Tips
# HowTo Complain & Motivate To Get Action
# HowTo Follow Up by Phone, Fax, Mail
# HowTo Use a Qualified Written Request
# HowTo Use a Mortgage Audit As Your Ultimate Weapon
# HowTo Fight Rejection Tactics
# HowTo Stop a Foreclosure Sale In 1-Day
# HowTo Remove Bad Credit & Raise Your FICO Score
# HowTo Eliminate All Your Debt

Search This Site




follow me on twitter subscribe to feed

HAMP trial loan modifications only helping 20-percent of eligible homeowners so far

Latest report shows that 20% of eligible borrowers have gotten trial modifications under administration’s $75 billion mortgage relief plan

Some 650,000 troubled borrowers have been put into trial loan modifications under the president’s foreclosure rescue plan, the Treasury Department said Tuesday.

That number represents 20% of eligible homeowners at least 60 days behind in their payments, according to the Treasury report. This is up from 16% a month earlier.

Despite the progress, housing counselors say the number of people falling into foreclosure vastly exceeds the ranks getting assistance. The number of filings hit a record high of 937,840 in the third quarter, according to RealtyTrac, an online marketer of foreclosed homes. That’s a 5% increase from the second quarter and a 23% jump over the third quarter of 2008. // Article continued below video //


Has your loan modification request been in limbo, denied or cancelled? Watch this video

Loan modification expert, Mike Rockwood, and author of the recommended loan modification workbook, explains how to use a handful of proven strategies to escalate your demand for attention and action on your loan modification request.

These strategies will help you overcome the stall tactics, long delays, wrong answers, incompetent employees and rejection of your trial or permanent loan modification.

In the video, Mike mentions a government agency you can contact to complain, namely, The Office of the Comptroller of the Currency (OCC). Click here to read more about the OCC agency and what it can do for you

Click here for more Q&A Video Coaching segments that will answer your urgent questions and give you proven strategies to fight for your loan modification.

FYI: As a last resort and for added protection if the clock is ticking against you towards a foreclosure sale date, learn how to stop foreclosure in a day to buy more time to work out a solution.



The $75 billion Obama plan is “lagging behind the massive number of foreclosures that continue to pile up,” said John Taylor, head of the National Community Reinvestment Coalition.

Administration officials have been pressuring loan servicers to ramp up their modification efforts. Many people have complained that financial institutions lose their paperwork, transfer them repeatedly between departments and require that they fill out applications again and again.

But the rising unemployment rate is prompting more homeowners, even those with strong credit histories, to fall behind on payments. And the president’s plan is not designed to help the jobless.

What’s becoming even more important is how many people in trial modifications receive permanent adjustments. The Treasury in September lengthened the trial period to five months, from three months, to give borrowers more time to send in their paperwork and banks to process it.
#####
Click here to see if your lender/servicer is participating in the HAMP program
#####
Source: http://money.cnn.com/2009/11/10/news/economy/obama_mortgage_plan/

How you can force your loan servicer to get off the dime and approve your loan modification – especially if they have been jerking you around

  • In your loan modification application, include a Qualified Written Request that requests a copy of the note. This is the note that is referred to in the video segment. If they cannot produce it, which is highly likely, you’ve got leverage against them to negotiate aggressively, ie, get a principal reduction along with better interest rate terms. This will likely an in-house modification deal, not a HAMP deal.
  • NEW: Robo-signing scandal may give legal leverage for approval Read More Here
  • Watch the Q&A Coaching Videos for more help:

# HowTo Package Your Loan Mod Application Kit
# HowTo Phone Negotiation Tips
# HowTo Complain & Motivate When Getting the Run Around
# HowTo Follow Up by Phone, Fax, Mail
# HowTo Use a Qualified Written Request
# HowTo Fight Rejection Tactics
# HowTo Stop a Foreclosure Sale In 1-Day


Loan Modification Help To Get Approved Faster: Learn how to package your loan modification application, get effective coaching to get to the front of the line and combat the stall tactics servicers are using
Click here to get proven help with your home loan modification

Homeowners – Need Some Sound Advice?

Get Out of Debt Workbook
Seasoned debt expert shares several little known but highly effective techniques guaranteed to get you out of debt fast – no matter how much you currently owe.
Stop Foreclosure
Get more help on fighting to stop a foreclosure. A little-known government program will stop a foreclosure in less than a day without an expensive attorney. Ideal for you if you have been rejected for a loan mod, in a trial loan modification or unemployed to buy valuable time.

Legally Restore Your Credit
If you are visiting this blog, you likely have mortgage lates, which are a big blemish on your credit report. Once you resolve your mortgage situation, you can legally remove those mortgage lates and all derogatory credit from your report without having to hire an expensive attorney or credit repair service.

home loan modification, loan modification, mortgage loan modification, loan modification program, hamp government program

Technorati Tags: home loan modification, loan modification, mortgage loan modification, loan modification program, hamp government program

Related posts:

  1. 48-percent of trial loan modifications were cancelled. Here is what to do next.
  2. Government loan modification program HAMP is only helping very few homeowners
  3. Ocwen Financial Corp is among top HAMP conversion rates to permanent loan modifications
  4. Florida U.S. Rep. Castor wants detailed information on trial loan modifications offered to at-risk homeowners
  5. HAMP trial loan modifications set people up to fail says housing counselor

Tags: hamp trial modification report, hamp trial modifications, trial loan modifications

Facebook comments:

Leave a Reply Cancel reply

Bad Behavior has blocked 321 access attempts in the last 7 days.

Switch to our mobile site