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Tag Archives: avoiding foreclosure

CFPB Complaint Report Cites Problems With Loan Mod Process

Ambiguity and/or delays in the loan modification process were a frequent subject of the complaints, while others said they were not considered for all loss mitigation options available, they were incorrectly denied a modification, or the terms of the modification were unfavorable.

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The Impact of HAMP on Loss Mitigation Norms

It has enabled the industry to evolve its loss mitigation norms by helping to define a process that uses income to drive to a specific debt-to-income level, and it is likely that modifications beyond HAMP will continue to occur on this basis.

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GSEs Prevented 121,000 Foreclosures in First Half of 2015

Fannie Mae and Freddie Mac have combined to help approximately 121,000 homeowners avoid foreclosure through a variety of both retention and non-retention solutions through the first six months of 2015.

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New York AG Highlights Success of Home Retention Programs

New York Attorney General Eric Schneiderman, along with housing advocates and local lawmakers, on Thursday highlighted the success of three programs his office has created in the last three years in order to help families avoid foreclosure and keep their homes.

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Freddie Mac’s ‘Take Root’ Programs Have Been Successful in Hardest Hit Areas

Freddie Mac launched Take Root Milwaukee five years ago, at the height of the foreclosure wave, with the idea that government agencies, financial institutions, and the real estate industry could unite to protect residential neighborhoods by forming a single network that residents can contact with one click or phone number.

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