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Ocwen and NID Announce California-Focused Homeowner Initiative – NASDAQ.com

WEST PALM BEACH, Fla., June 30, 2016 (GLOBE NEWSWIRE) — Ocwen Financial Corporation (NYSE:OCN), a leading financial services holding company, and NID Housing Counseling Agency (NID), a U.S. Department of Housing and Urban Development (HUD)-approved counseling organization headquartered in Oakland, CA, announced today a formal collaboration aimed at fostering homeownership and preventing foreclosure. The initiative,

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

Tips on Applying for a Mortgage After a Foreclosure

“Recovering from a negative credit event like a foreclosure can take years—seven years in many cases. A growing number of Americans are reaching that juncture after going into foreclosure early in the housing crisis. During that seven-year period, gaining access to loans is challenging, particularly in the first two to three years. Getting approved for

Florida’s foreclosure prevention program shifts tactics

“Florida’s $1 billion foreclosure prevention program, which has historically helped homeowners fight off bank repossessions with mortgage assistance, might start pitching in for first-time homebuyers’ down payments. The proposal would earmark $50 million for down payments from the federal Hardest Hit Fund, which was created with taxpayer money, a publication reported. The program has until

Loss of income does not mean loss of home

“DESPAIR SETS IN” “When Sarah lost her unemployment income in January 2014, she thought all was lost in terms of her ability to continue to make payments on her mortgage. Her concern deepened when after missing only two payments, her mortgage company returned a regular monthly payment she sent in. In returning her payment the

Redefaults Continue to Plague HAMP

The Home Affordable Modification Program continues to disappoint. As of Dec. 31, one in three struggling homeowners who received a loan modification through HAMP ultimately redefaulted on those loans, a new report has found. Meanwhile, the program that was supposed to help some 4 million families avoid foreclosure has helped only a fraction of that
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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