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Loan Modification

Citigroup Homeowners Obtain Home Loan Assistance But Some Fail In Trial Modification Period

Citigroup homeowners have struggled with their mortgage payments over the past months, as have many other homeowners with various mortgage servicers across the nation. While Citigroup is one of the top mortgage lenders in the Making Home Affordable Program, there have been numerous homeowners who are upset with mortgage lenders, like Citigroup, when it concerns the trial modification period of the making home affordable program.

Making Home Affordable Report Home Affordable Foreclosure Alternatives And Second Lien Program–What Lenders Are Participating?

Many homeowners have had trouble obtaining some form of assistance that will allow them to either avoid foreclosure or make their home loan modification more affordable by modifying their second mortgage. Many homeowners with a second mortgage on their home were unable to benefit from a primary modification since monthly mortgage payments were still too costly. Also, homeowners who have run out of options when it comes to getting a more affordable home loan payment have asked that alternatives to foreclosure be offered.

Homeowners With Second Mortgage Struggle In Modification Program–Second Lien Plan Lowers Home Loan Payments

Homeowners are in need of mortgage assistance across our nation and, despite the home loan modification program offering homeowners the opportunity to restructure their home loan payments to a more affordable rate, many homeowner are having trouble making these payments. One difficulty homeowners were having, and for some are still having, was the problem of a second mortgage.

Wachovia June Home Loan Modification Report–Decrease In Trial Modifications But Rise In Permanent Modifications

Homeowners who have a home loan with Wachovia Mortgage have seen mixed results from the Making Home Affordable reports that were released for the month of June 2010. Wachovia mortgage did see an increase in the number of permanent home loan modifications that have been made, but there was a slight dip in the number of trial modifications that were ongoing.

Home Loan Mortgage Modification Program Sees Overall Increase In Permanent Home Loan Modifications For June 2010

Homeowners in the Making Home Affordable mortgage modification program may have seen more results over the past month as the number of permanent home loan modifications that have been made have increased. Some of the nation’s top mortgage services are participating in the modification program and, despite criticism, there has been an increase in mortgage assistance offered to homeowners since the beginning of the year.

Underwater Mortgage Assistance–Principal Reduction And Refinancing Opportunities On Homes That Have Lost Value

Homeowners who are facing an underwater mortgage may have help available through various underwater mortgage assistance programs. The Obama Administration and the Making Home Affordable Program have been using various plans through lenders to make underwater mortgage assistance available to homeowners who are struggling.

Citigroup’s CitiMortgage Drop In Making Home Affordable Active Trial Modifications For June 2010 But Permanent Modifications Increase

The Making Home Affordable servicer performance report for June 2010 showed that Citigroup had a drop in the amount of active trial modifications that are currently in progress. The drop from May to June is being seen by some as a problem since many homeowners are still struggling to get a more affordable home loan payment. Also, lenders like Citigroup have been accused of not doing all they can despite seeing increases in the number of permanent home loan modifications they have made over the past months.

Unemployment Homeowner Forbearance Programs From Obama Administration–Lower Home Loan Payments

Unemployed homeowners are in a very difficult mortgage situation as many are reliant upon the meager income that is given from unemployment benefits. While there are many unemployed men and women who are very grateful to have this income from unemployment benefits, the amount that many homeowners make is not enough to pay all of their financial obligations. As a result, many homeowners are facing foreclosure on their home and, because of this problem, the Making Home Affordable Program has proposed an unemployment assistance plan for homeowners.

Second Mortgage Lien Home Loan Modifications Help Homeowners In Making Home Affordable Program

Homeowners who may have a second mortgage on their home loan have been troubled since they do not benefit from a traditional home loan modification. Originally, homeowners who had a second lien on their home may have been able to obtain a home loan modification but their second mortgage causes their mortgage payments to still be unmanageable, but the Second Lien Modification Program has been helping homeowners in this area.

Home Affordable Foreclosure Alternatives Programs–Homeowners Avoid Foreclosure When Modifications Fail

Home loan modifications have been helping some homeowners over the past month get a more affordable home loan payment. However, there have been more homeowners who have been seeking ways to avoid foreclosure when a traditional modification doesn’t work. Homeowners have been denied mortgage assistance in some cases and have even been unable to afford their home after a modification, but help through the Home Affordable Foreclosure Alternatives may be available.

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