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California loan law wants lenders to give a decision on loan modification before starting foreclosure

Jose Vega was on the phone with JPMorgan Chase in April negotiating a loan modification when a real estate agent knocked on the front door of his Pittsburg house and said it had been repossessed in foreclosure a day earlier. “I literally handed the phone to him and said, ‘Why don’t you tell this...
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Tags: california loan modification
Posted in News Updates | No Comments »

San Diego businessman pleads guilty to loan modification fraud scheme

False and misleading statements used to induce customers to purchase loan modification services from a San Marcos-based businessman pleaded guilty to conspiracy, money laundering and tax charges. Glenn Steven Rosofsky admitted that in April 2009, he and Michael Trap — who previously pleaded guilty — began operating a loan modification business using the names...
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Tags: Federal Housing Modification Department, Glenn Steven Rosofsky, , loan modification scam, Making Home Affordable, Michael Trap, , , U.S. Treasury Department
Posted in Scam Alerts | 2 Comments »

Homeowner gets more than loan modification from HSBC, judge wipes out mortgage

All Orlando Eslava wanted from his lender was a loan modification to make his payments affordable. Instead, he got his $207,000 mortgage wiped out — and a crash course in the confusing way foreclosures are unfolding in a court system chock-a-blocked with cases. The teacher was Miami-Dade Circuit Court Judge Jennifer Bailey, who cancelled...
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Tags: , , hsbc bank, hsbc loan modification, , , orlando eslava, produce the note, Sheleen Khan
Posted in News Updates | 4 Comments »

Cancellation of trial loan modifications affect over 122,000

Troubled Borrowers Get Booted from Mortgage Modifications Homeowners who had trouble keeping up their mortgages found that they’d had their loan modifications canceled in April under the HAMP program because they were unable to make their adjusted payments or disclosed false information regarding their income. With more than 122,000 borrowers having their trial modifications...
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Tags: loan modification cancellation,
Posted in News Updates | 1 Comment »

Loan modifications were leading workout type for Genworth Financial

Private mortgage insurer Genworth Financial helped prevent almost $3.4 billion in mortgages from going into foreclosure in the 12 months ending March 31, the company reports in its first-quarter Foreclosure Prevention Scorecard. Genworth says it worked with servicers to complete more than 23,000 loan workouts through its homeowner assistance program, resulting in home retention...
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Tags: foreclosure prevention, Genworth Financial, , loan workouts, Private mortgage insurer
Posted in News Updates | 2 Comments »

Ocwen Financial Corp is among top HAMP conversion rates to permanent loan modifications

Information on Ocwen Financial Corp Loan Modification Ocwen Federal Bank (800) 746-2936 or (877) 596-8560 HAMP government program explanation, eligibility links, calculators and more Attention: Financial Information 12650 Ingenuity Drive Orlando, Florida 32826 or Ocwen Financial Corporation 1661 Worthington Rd., Suite 100 West Palm Beach, Florida 33409 Phone: 877-226-2936 For serving Ocwen with legal...
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Tags: HAMP, , , ,
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Portland REO properties continue to grow despite government loan modification program

The number of REO properties in Portland is still relatively high despite intensified efforts by Home Affordable Modification Program officials to save troubled homes. A total of 2,277 homes in metro Portland became distressed in April as they were hit with default and foreclosure notices. In Multnomah County, where Portland is situated, 567 more...
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Tags: HAMP, , , portland foreclosures, portland reo
Posted in News Updates | 2 Comments »

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