by James Robert Deal | Mar 10, 2010 | Federal Trade Commission, Modification is the Practice of Law, Mortgage Modification
The Federal Trade Commission is up to no good. The FTC proposes to enact a regulation which will prohibit third-party modification providers, including attorneys, from charging advance fees. See: http://www.ftc.gov/opa/2010/02/mars.shtm for a summary of the proposed...
by James Robert Deal | Dec 10, 2009 | Mortgage Modification
Quoting from Martin Andelman: In the next 2-3 years, it is estimated that there will be an additional 14 million foreclosures in this country. That will make the total roughly 20 million homes lost in this catastrophic recession. But it won’t stop there. Foreclosures...
by James Robert Deal | Dec 1, 2009 | Mortgage Modification
Philip got behind on his mortgage because his employer cut his hours. He and his wife work for the same nursery and earn only minimum wage. Philip’s loan was fixed for two years at 7.5%. After that it was adjustable with a rate based on the 6-month LIBOR plus a...
by James Robert Deal | Oct 21, 2009 | Mortgage Modification
Mortgage companies are more likely to foreclose on homeowners than modify their loans because they make more money off foreclosures, argues a new report by a consumer advocacy group. While homeowners, lenders and investors typically lose money on a foreclosure,...
by James Robert Deal | Jul 24, 2009 | Mortgage Modification
Tim Geitnner has written the attached letter to the 25 servicers who are participating in HAMP – Home Afffordable Mortgage Program – such as CitiMortgage and Wells Fargo Bank. These servicers receive incentives for doing modifications designed under the...
by James Robert Deal | Jun 15, 2009 | Mortgage Modification
These are general instruction as to what you can do to make your modification a success. Please report to me by e-mail and/or fax any communications you have received from your lenders. When you talk with your lenders, ask for names, phone numbers, fax numbers, e-mail...
