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New wave of foreclosures, this time by hedge funds

Private equity and hedge fund firms have bought more than 100,000 troubled mortgages at a discount from banks and federal housing agencies, emerging as aggressive liquidators for the remains of the mortgage crisis that erupted nearly a decade ago. As the housing market nationwide recovers, this is a dark corner from which banks, stung by

EIGHT LOAN MODS APPROVED INCLUDING NATIONSTAR – $194,265.00 FORGIVEN

Click the pictures to MAGNIFY our results  ►► View the original newsletter in your browser Loan Modification Key™ Stands Apart NATIONSTAR $194,265.00 PRINCIPAL FORGIVENESS AUGUST 2015 OCWEN $49,667.85 PRINCIPAL FORGIVENESS JUNE 2015 PENNYMAC $206,000.00 PRINCIPAL FORGIVENESS AUGUST 2015 WELLS FARGO HAMP $660.51 MONTHLY SAVINGS – AUGUST 2015   SELECT PORTFOLIO $788.02 MONTHLY SAVINGS – JULY 2015 US BANK HAMP

Freddie Mac Will Require Re-Modifications of Previously Modified Loans

“On March 17, 2015, Freddie Mac issued an update to its Single-Family Seller/Servicer Guide (“Guide”) requiring servicers to offer additional modifications on previously modified step-rate mortgages.  This requirement will take effect July 1, 2015. By requiring loan re-modifications, Freddie Mac is seeking to address what has been on everyone’s mind for a while—the expiring HAMP

Keep Your Home benefits extended

Keep Your Home California, the state-management program offering aid to homeowners dealing with the threat of foreclosure, has opened the principal reduction program to more borrowers and increased benefits for another program. Now, homeowners struggling with an unaffordable mortgage payment — greater than 38 percent of their gross household income — and who have experienced some other

Stop doing debtors further damage

By Michelle Singletary – The Color of Money WASHINGTON – I went looking to see how much news coverage there was of a recent settlement involving a national mortgage servicing company. Not as much as there should have been, given that the proposed settlement points to the fallout we are still experiencing from the housing

Mortgage Foreclosures Force Thousands Out of Their Homes

“THOUSANDS of Victorian properties are being seized despite record low interest rates. ” “Foreclosure actions by major banks and lenders to repossess homes, units, businesses and land resulted in 7830 people losing an asset in the past five financial years. Experts warn the figures indicate people are taking on unsustainable debt and could face losing their

Riding the loan modification merry-go-round

What it takes to climb out of a credit mess by Bernice Ross on Feb 16 According to RealtyTrac’s U.S. Home Equity & Underwater Report for the fourth quarter of 2014, over 7 million homeowners (13 percent) still have combined loan amounts exceeding their property’s worth by at least 25 percent. In many cases, their
IMPORTANT: The text in this website and product(s) sold on this website do not substitute for legal advice. Nor does the text substitute for real estate, financial, tax, bankruptcy or other professional advice. Loan Modification Key® and its owner(s) cannot and do not guarantee results from any lender or servicer. Loan Modification Key® and its owner(s) do not represent any loan modification program or governmental program. Loan Modification Key® and its owner(s) do not represent any government agency. The text herein represents information, opinion and expertise gathered in the last several years' experience in the mortgage industry. Loan Modification Key® is a non-profit 501 (c)(3) tax-exempt organization.
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