Posts tagged "mortgage modification"

Bank of America Starts Shaving Customers' Mortgage Principal

Bank of America Starts Shaving Customers' Mortgage Principal
This week, some Bank of America mortgage customers will receive letters in the mail describing the process by which they can attempt to reduce the principal on their home loans. The letters are the result of last week’s notice of settlement, whereby Bank of America would avoid more severe penalties for its role in the... Read more »

Bad Signatures the Least Concerning Foreclosure Trend

Over the last two weeks, the entire foreclosure industry has been turned upside down. Bank of America’s recent decision to put a halt to all of its foreclosure proceedings in the United States last week was the biggest shoe to drop, after weeks of other banks looking into their own potentially flawed foreclosure processes.  These... Read more »

'Shadow' Inventory Causing Concern

In the real estate community, the term “shadow inventory” has become a dreaded topic. Shadow inventory refers to real estate that is likely to become bank-owned, but is still in the early stages of that process. For example, homes with owners who are behind on their mortgage payments, with the expectation that the property will... Read more »

Stay in Your Home: The Keys to Mortgage Modification

Despite reported efforts to simplify mortgage modification by everyone from lending institutions to the White House, mortgage modifications are still tricky and time-consuming. As of today, it’s still difficult for homeowners struggling to make mortgage payments to have their mortgages modified by lenders. As a result, i’s become a sub-segment of the real estate legal... Read more »