Officer of the Homeowner Advocate Amendment – Help Stop the LIES

Now here is an idea… Before getting into the details of the amendment, here are a few reasons why it should be supported. Before HAMP, actually before most of these issues of this crisis were known, I was entrenched in researching the frauds perpetrated on millions of homeowners. It all started out when I began … Read more

We have been expecting you – The Fox is Inventorying the Hen House and is Taking Volunteers

“Think about this,  when you fill out the forms for the modification program you give up all,  and I do mean all of your personal financial information.  The servicers,  not investors or even the investors representatives know all about you.  They know how much you are making,   they know how much is in your retirement … Read more

Making Home Affordable Program Servicer Performance Report Through March 2010

Funny how Washington reports “HAMP represent a cumulative savings of more than $3 billion” when the NY Times reports “Defaults Rise in Loan Modification Program” WASHINGTON – The U.S. Department of the Treasury and the Department of Housing and Urban Development today released March data for the Administration’s Home Affordable Modification Program (HAMP). As of … Read more

Shame the Banks – Tell YOUR Story at ShameTheBanks.org

4closureFraud teams up with Shame the Banks. Go tell YOUR story and encourage others to do so as well. Together we can do more… This is a call to action. We are asking YOU to tell everyone you know – through e-mail, on facebook, twitter or other social media feeds, or through writing or calling … Read more

HAFA Birthday Everyone! Home Affordable Foreclosure Alternatives Program

HAFA Effective Date Today April 5, 2010 The Home Affordable Foreclosure Alternatives (HAFA) Program provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu (DIL) to avoid foreclosures. HAFA alternatives are available to all HAMP-eligible borrowers who: 1) do not qualify for a … Read more

OCC and OTS Mortgage Metrics Report

SOURCE: OCC Disclosure of National Bank and Federal Thrift Mortgage Loan Data Executive Summary This OCC and OTS Mortgage Metrics Report for the fourth quarter of 2009 provides performance data on first-lien residential mortgages serviced by national banks and federally regulated thrifts. The report covers all types of first-lien mortgages serviced by most of the … Read more

Hamp “Improvements” – Making Home Affordable Program Enhancements to Offer More Help for Homeowners

Today (Friday March 26th) the Administration announced enhancements to the Home Affordable Modification Program (HAMP) to provide additional resources for struggling homeowners.  These changes will provide temporary mortgage assistance to some unemployed homeowners, encourage servicers to write-down mortgage debt as part of a HAMP modification, allow more borrowers to qualify for modification through HAMP, and … Read more

Principle Foregiveness – Barclays Capital Examines Implications of Bank of Americas “Earned” Forgiveness Plan

Don’t Believe the Hype In yesterdays press release Bank of America stated; Bank of America announced it will look first at principal forgiveness ahead of an interest rate reduction – when modifying certain subprime, Pay-Option and prime two-year hybrid mortgages qualifying for its National Homeownership Retention Program (NHRP) Several enhancements are being made to the … Read more