HAMP program is dragging out the foreclosure process according to Louis Amaya, chief operating officer of National Asset Direct Inc., a New York-based asset manager
In late 2008, banks dumped many of their foreclosed homes on the market, pushing prices down sharply in some areas. Around that time, though, banks began acquiring fewer homes through...
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Republicans call HAMP a failure but offer few suggestions for improvement
The Obama administration’s loan modification program is a “failure” that is hurting more homeowners than it is helping, according to a report issued by Republicans on the House Oversight and Government Reform Committee.
Representatives Darrell Issa, R-Calif., and Jim Jordan, R-Ohio, claim the administration’s...
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Borrowers in HAMP program rose by only 1-percent from a month earlier – marginal increase
The U.S. Treasury on Friday pledged to improve its housing rescue program after new data showed a slightly greater percentage of borrowers with delinquent mortgages had received help with loans through the end of December.
Borrowers with active payment reductions in...
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More political heat needed to help homeowners with loan modifications struggle to get banks to cooperate
Colorado resident, Tom Blank, didn’t know he was setting out to become an expert in the game of home loan foreclosure politics when he had a chance meeting with longtime Carbondale resident Terry Counterman last fall.
“I was sitting on...
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Rhode Island law requires lenders to provide information on mortgage counseling before they can begin any foreclosure process
A substantial number of homeowners are still facing foreclosure, and some are often desperate for help but don’t know where to turn.
In January, the Rhode Island General Assembly passed a new law requiring lenders to provide troubled...
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I'm Gail Simmons with my husband Hank and our children.