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Banks Slow to Modify Mortgages…US Treasury Dept reports

August 19, 2009 By Debbie

An article in the L.A. Times discusses how some banks are making up excuses by telling home owners that they do not qualify for a loan modification because….. My associate Dan Dobbs, loan manager at
949 250-3981  who made me aware of this article states that the banks are not following the Obama Plan as they should. Basically, the article is about some banks who are making it difficult for homeowners to obtain the loan modifications they may be qualified to obtain.

If you would like a copy of the Plan, please let me know and I will send it to you.

Filed Under: Foreclosure Information, Loan Modifications, News, Seller Info Tagged With: loan modification

Foreclosure and Loan Modifications

August 10, 2009 By Debbie

There is so much information out there about foreclosure and loan modifications in the news that the consumer does not know what to believe. I am in the process of gathering information to benefit the consumer. Therefore, I ask you to please send me your questions or post them here so that I can research them and post the correct information.

My view as a Real Estate Broker is to advise and educate when I can. Please post your questions here. You may also send me an email if you wish at Debbie@DebbieFranklyn.com. It would be my privilege to help you.

Filed Under: Buyer Info, Foreclosure Information, Loan Modifications, News, Real Estate Advice, Seller Info Tagged With: foreclosure, loan modification, realtor

Paperwork Needed for Loan Modifications

August 10, 2009 By Debbie 
Video helps homeowners gather paperwork
For faster mortgage help Freddie Mac has produced a video that shows late-paying
borrowers how gathering a few financial
documents before calling a mortgage servicer can cut the time needed
 to determine their eligibility and process their
application for a loan modification under the Making Home
Affordable program or Freddie Mac's other workout initiatives.
Available in English and Spanish versions, the new Freddie Mac video,
“Stop Foreclosure: Documents Your Lender Needs to Help
You” can be seen at Freddie Mac’s channel on YouTube at
 http://takeaction.realtoractioncenter.com/ct/Pp_DIU11V4DH/.
The two-minute video shows step-by-step which documents
borrowers should have on hand when
they call their servicer to discuss loan modifications.
These documents can cut the time a servicer will need to understand
the borrower's situation,
determine his or her eligibility for a workout,
and process the application.
More info:  http://takeaction.realtoractioncenter.com/ct/P1_DIU11V4DR/
 
Filed Under: Foreclosure Information, Loan Modifications, Property, Real Estate Advice, Seller Info Tagged With: foreclosure, freddie mac, help for homeowners, homeowner, loan modification