C21AGVoices

Image by TheTruthAbout… via Flickr So far we’ve discussed the basics as it relates to getting a loan modification. Now we’ll talk about a few tips that will help you qualify for a loan modification. These tips are centered around your hardship letter and the monthly expense worksheet. The hardship letter Called an LOE in […]

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Image by taberandrew via Flickr So far in this series we’ve talked about the process of loan modifications, how to get started and how to collect the information you need to accurately complete your monthly expense worksheet. The monthly expense worksheet is going to be used by your lender to determine if you qualify for […]

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Image by TheTruthAbout… via Flickr Once you’ve received your loan modification application from your lender it’s time to do your home work. What do we mean by “your homework?” We mean simply the collecting and ascertaining of your income and expenses in order to successfully complete your loan modification application. In brief – think back […]

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Image by TheTruthAbout… via Flickr Getting Started with a Loan Modification The mortgage payments are soaring because your ARM reset, or your income was cut in half, or two-thirds, or completely by a recent layoff. The bills are piling up and the savings is disappearing quickly. You need relief, and you’ve heard a lot about […]

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Image by Getty Images via Daylife Mortgage loan modification, the changing of terms on an existing home loan, is becoming a well-known practice as the US housing market continues to crater. Borrowers who find themselves underwater on their mortgage – owing more than the property is currently worth – and facing a rising monthly mortgage […]

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The national housing market got three pieces of good news in 3 days last week: Monday: Existing Home Sales up Tuesday: Home values appear higher nationally Wednesday: New Home Sales up And although national real estate statistics are irrelevant to the local markets in which real estate transactions happen, to a country of would-be and […]

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If you’re in want of a cash out refinance, the most liberal cash-out program in town is about to make qualification more difficult. Effective April 1, 2009, the FHA is reducing the maximum loan-to-value on cash-out refinances by 10 percent, dropping the loan size limit from 95% of the home’s value to 85%. In its […]

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For the fifth time in a year, rate shoppers learned an important lesson this week: When mortgage rates plummet unexpectedly, they often recover just as fast. Wednesday, the Federal Reserve’s newest $750 billion mortgage market pledge helped to push conforming mortgage rates near their lowest levels since WWII. 24 hours later, however, those rates were […]

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USA Today ran this 2008 Foreclosures By State heatmap last week, reminding us of a simple truth: Headline statistics can be misleading. According to data compiled by RealtyTrac, 1 in 8 U.S. homes were in various stages of default or delinquency at the end of 2008.  This is a fact and it was widely reported by […]

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Image by Getty Images via Daylife The American Recovery and Reinvestment Act of 2009 was signed into law Tuesday February 17th in Denver, Colorado.  Also on Tuesday, stock markets fell near their November 2008 lows. The two moves are related. With each new stimulus; with each potential jumpstart of the economy, Wall Street questions whether the […]

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