Merry Christmas? According to the Boston Globe, Citigroup will suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season. The suspension will run through Jan. 17. You better read the fine print, though. The suspension only applies to borrowers whose loans are owned by Citi. Borrowers [...]
Entries Tagged as 'Making Homes Affordable Program'
Foreclosures Suspended by Citibank until Jan 2010
December 21st, 2009 · No Comments · Mortgages
Tags: Citibank·Foreclosures·homeowners·job loss·Making Homes Affordable Program·mortgage holders·Mortgages·suspension·underwater
Is It Illegal if My Bank Won’t do a Loan Modification?
October 14th, 2009 · 3 Comments · Mortgages
Q. I am having great difficultly getting a loan modification on my mortgage. I am 100% confident that I meet the criteria for the loan modification program. After initially agreeing to do the modification, they now say I don’t meet the requirements and stopped taking my calls. Can I sue? My story: I followed the [...]
Tags: appraisal·assessor's office·building inspection·Fannie Mae·Freddie Mac·illegal·loan modification·Making Homes Affordable Program·mortgage modification·refinance
Turn and Burn – a Highly Profitable Foreclosure Strategy
October 13th, 2009 · 1 Comment · Credit Reports, Mortgages
The “turn and burn” a.k.a. “buy and bail” strategy – is a method sometimes used by people whose homes are “underwater”. It is increasingly used by the wealthy with very large mortgages whose homes are worth significantly less than what they owe. This little trick reared its ugly head after the housing market began to [...]
Tags: Buy and Bail·Credit Scores·Economic Meltdown·Good Credit·investment loans·Making Homes Affordable Program·pay with cash·turn and burn
A Good Forclosure Defense: Home Affordable Modification Program (HAMP)
September 28th, 2009 · 5 Comments · Mortgages
Many people are facing foreclosure today. If you are one of them, you may be able to delay the process or halt it all together without stepping a foot into court. As part of the “Making Homes Affordable” program, a.k.a Home Affordable Modification Program (HAMP), mortgage servicers are required to review the eligibility of any [...]
Tags: foreclosure·foreclosure procedure·HAMP·Home Affordable Modification Program·lender·Making Homes Affordable Program·Mortgage·mortgage servicer
