Loan Modification

David Hill Georgia legislation

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http://www.reuters.com/article/idUSTRE5B41ME20091205
More than one-quarter of homeowners receiving help under a U.S. government foreclosure prevention plan are behind on their new mortgage payments, a Treasury Department survey has found.

U.S. | Housing Market

Some 650,000 borrowers are participating in the trial phase of the Obama administration’s Home Affordable Modification Program, a $75 billion taxpayer-financed program launched this year.

Most home loan modifications result in lower monthly payments, although some lead to reduced principal on mortgages.

Trial modifications were initially for three months, but the Treasury added 60 days, effectively making them last five months.

Homeowners must submit more detailed documentation before they can have their loan modifications made permanent.

A Treasury Department survey of large mortgage servicers found “over 73 percent of borrowers are current in their trial plan payments,” Assistant Treasury Secretary Herbert Allison told a congressional oversight panel.

That leaves about 27 percent who are delinquent on the payments.

Allison provided written answers to questions raised at an October hearing before the Congressional Oversight Panel, which monitors the government’s foreclosure prevention plan and other financial rescue efforts.

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http://www.u1stfinancial.net/aaronremer
MMA Accelerated mortgage payoff
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www,costablancaclubs.com Video Vault. Richard Bass advices you what the easiest way is to make your mortgage payments.

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http://www.TheLoanModSecret.com
Free Video Reveals the #1 Secret (Banks Hope You Don’t Know) that Virtually guarantees your loan modification to be accepted – even if You’ve Been turned down before!

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