To help provide first-time home buyers with peace of mind when purchasing a home, the C.A.R. Housing Affordability Fund (C.A.R.H.A.F.) is offering a new mortgage protection program to first-time home buyers.Through the Housing Affordability Fund’s Mortgage Protection Program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to [...]
Tag Archives: real estate
Do You Have A Loan With Freddie That Could Use A Workout? Help Is On The Way.
Freddie Mac Is rolling out a new plan to handle the influx of borrowers requesting loan modifications or other workouts. Freddie will be employing the help of third party servicers to help service Alt A and other types of High Risk Loans. The new plan will help keep at-risk borrowers in their homes and avoid [...]
Pitfalls to Avoid during the Loan Modification Process
A Loan Modification is a valuable tool in helping homeowners get back on track with their loans and protect their homes from foreclosure, but often even after a loan modification people end up right back where they were, and sometimes even worse. In fact, more than half (55%) of loans modified in the first nine [...]
Posted in Loan Modifications Also tagged foreclosure, home loan, interest rates, Loan Modification, mortgage, mortgage rates, mortgages, San Diego Foreclosure, San Diego real estate Leave a comment
Know The Lingo; Postponement - Trustee Sale
POSTPONEMENT - Trustee Sales may be postponed by the Trustee at the direction of the lien holder. Notice may be given in advance or at the time and location specified for the intended sale.
PRIVATE MORTGAGE INSURANCE (PMI) - A policy of insurance paid for by the borrower to protect the lender in the event the [...]
Know The Lingo; Judicial Foreclosure-Notice Of Trustee Sale
JUDICIAL FORECLOSURE - A foreclosure action conducted through the courts instead of through a
foreclosure trustee. Judicial Foreclosures are very uncommon in California, particularly on residential
properties. Should a lender elect to pursue a deficiency judgment, it would be through a Judicial Foreclosure.
JUNIOR LIENS - A lien, usually a mortgage loan, that is subordinate to a Senior [...]
Know The Lingo; Foreclosure Glossary B-F
Study up and learn the lingo from the following Glossary of Terms:
BENEFICIARY - The beneficiary in a foreclosure context is generally the mortgage lender. Frequently referred to as the “Benny”.
CREDIT COUNSELING - Under the new bankruptcy law which took effect in October of 2005, those wishing to file bankruptcy must complete an approved credit counseling [...]
Loan Modification Directory
With the continuous crisis in national housing as well as the unending mortgage breakdown, more and more homeowners are now facing the risks of foreclosures.
One way to solve this problem is through loan modification.
Loan modification is a type of agreement between a borrower and a lender to change or modify the existing terms of the [...]