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 homes...
Read more »
HAMP government program explanation, eligibility links, calculators and more
Q: What are the new HAMP rules for income verification?
Answer: According to the new HAMP rules that went into effect June 1, 2010, you’re going to have to prove that you have sufficient income before you get approved for a trial loan modification.
Here’s what the new...
Read more »
14-percent of Wells Fargo trial modification customers fail to make all three payments
At Wells Fargo & Co., about 14 percent of the customers who make one payment in the trial loan modification phase don’t end up making all three to qualify for a permanent reduction, said Mike Heid, co-president of Wells Fargo Home Mortgage...
Read more »
Unemployed new faces of mortgage defaults as depicted by one Ohio homeowner
Sharon Majors never cared to learn the stories behind the foreclosed homes she passed on her way home from work until she became one of them.
The 52-year-old Hamilton resident said she’d seen the headlines screaming “Foreclosure Crisis” and read about the programs created...
Read more »
Loan modification borrowers frustrated with loan servicers who repeatedly request paperwork
As the country teeters on the razor edge of some semblance of recovery, Market Watch reports that “roughly 8 million to 13 million foreclosures are expected over the next five years, according to the Congressional Oversight Panel for the $700 billion bank-bailout program.”
This makes...
Read more »
Bad Behavior has blocked 277 access attempts in the last 7 days.
I'm Gail Simmons with my husband Hank and our children.