Tag Archive: principal reduction

Aug 05

Could You Be Eligible for A Refinance Soon?

As shortly as next week the White House will be announcing a new mortgage relief program. While the details are unclear it is expected to finally break the negative equity wall and begin to allow homeowners who are “not seriously delinquent” an opportunity to refinance – that’s right, there will be criteria under which underwater …

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May 26

$130k Loan Modification Reduces Our Clients’ Mortgage by 52%

This week we’re featuring a successful loan modification negotiated through a conciliation conference with the homeowner’s lender, Ocwen. A Shared Appreciation Modification (SAM) can often result in an incredibly high principal reduction – in this case, $130,549.41! In return the borrower promises to share 25% of any future appreciated value in the home.

Apr 18

Another “Foreclosure Prevention Bill;” Does It Have What It Takes?

“This foreclosure crisis affects all of us – homeowners, families, neighbors, and state and local governments. It is clear that the current system isn’t working and unfortunately federal regulators have filed to bring meaningful reform to the mortgaging servicing….Ending the foreclosure mill requires stronger oversight, streamlined modification procedures, and meaningful penalties when servicers break the …

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Apr 13

Celebrating Our 3,000th Loan Modification

If only so many loan modifications weren’t necessary! In a mortgage crisis with deceptive lenders, out-of-control securitization, and apathetic regulators, we’ve experienced what a tough, confusing place this is for most homeowners. This breach of trust is a tremendous problem for borrowers looking to save their homes, which is an issue our attorney, Greg Nordt, …

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Dec 28

Congress, Fannie, Freddie, & The FBI Say Bah-Humbug Homeowners

Federal Regulators Refuse to Reduce Principals Lately even the White House has come to accept that principal reductions may be the only way to get many homeowners above water again. Owning about half of the country’s mortgages, Fannie Mae & Freddie Mac, along with the Federal Housing Finance Agency, are in the perfect position to …

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