The Fair Home Loan Bureau was created after President Barack Obama signed the 2009 Economic Stimulus Package.
The key components of President Obama’s foreclosure-avoidance program are loan modification and loan refinancing.
The details of this provision has created an extraordinary opportunity for millions of Americans to either re-finance or modify their existing mortgage.
Home Owners will receive an up-front fee of $1,000 for each modification.
They will also receive monthly cash incentives (as long as the borrower stays current on the loan) of up to $1,000 each year for three years.
The Fair Home Loan …

Establishing good credit takes years so you don’t want to throw all that away by missing your monthly mortgage payments. If you find that you are going to be falling behind more than a month, the best thing to do is to contact your lender immediately.
Mortgage Modification Help
Seeking a mortgage modification can be confusing, but there is plenty of help available these days. Most of the time, homeowners are mot aware of their options and not sure who to turn too when they realize they have a financial crisis and …

Millions of homeowners are struggling right now to make their mortgage payments. However, many make the following mistakes. The end result is that they lose their homes to foreclosure. Most foreclosures can be prevented if you start early. Lenders have too many foreclosed homes on their books right now and are not interested in being in the real estate business. So here are some mistakes that you want to avoid making:
Mistake #1
Do nothing. This is the worst mistake that most homeowners do. They feel helpless, …

Negotiating a short sale can be tricky if you don’t know the ins and outs. It is smart to discuss the short sell process with your attorney first to make sure that is the best option for you. Also, by following these simple steps, you have a much higher rate of success of getting your short sale approved.
Step 1
Find out from the lender if the property qualifies for a short sale. Depending on the lender or loan servicer, they will probably need the following documentation to determine if the …

The best way to avoid foreclosure is not to get in over your head in the first place. The reason so many of the sub-prime mortgages turned into foreclosure properties is the borrowers could not afford the home in the first place. When the loans reset at higher rates and the borrower could not refinance the home because the price had declined and they had no equity or they could not sell the home for the same reasons, the home either went to short sale or foreclosure.
What to …