Category: Loan Modification
Bank of America’s earnings power is expected to strengthen this year, as losses on loans ease and the national economy gradually recovers. But the foreclosure practices of Bank of America and other large mortgage servicers remain under investigation by all 50 state attorneys general, and that controversy is likely to continue to overshadow positive news [...]
Many homeowners seeking a loan modification to lower their monthly mortgage payments and avoid foreclosure continue to find the application process a complex web, often causing them to give up before their application is ever reviewed by their mortgage company. Certified housing counselors for CredAbility, a national nonprofit credit counseling and education agency, speak daily [...]
By Stephanie Armour, USA TODAY Anthony and April Soper’s financial troubles were only starting last October when they applied for a mortgage adjustment through the Obama administration’s Home Affordable Modification Program. Bank of America, their mortgage servicer, put them on a HAMP trial payment plan in December that cut their monthly payment by more than [...]
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Average Home Prices Slip in Coachella Valley
I’ve been reading a lot of information lately about our current market conditions from other REALTORS® who are claiming an increase is sales price and number of homes sold. I would scratch my head and ask where they were getting their numbers. Turns out their numbers are coming from national statistics. Real estate sales are [...]
Mortgage Debt Tax Relief Program Ending Soon
The Mortgage Debt Relief Act of 2007 the IRS would not come after you for your taxable amount if you had an upside-down unpaid principle as a result of loan modification, short sale or foreclosure depending on your tax bracket, let’s say you were $100,000 short on your mortgage you could be responsible for as [...]
Is your REALTOR® connected? No, I don’t mean in the MobWives fashion, if that’s what you thought, you’re watching too much reality TV. As an active Palm Springs REALTOR® I believe it’s important to take advantage of the technology available to today’s real estate professional. Everything that required an agent to go back to the [...]
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