Who May Be Eligible?
Because of the complexity of the mortgage market and this agreement, which will be performed over a three-year period, borrowers will not immediately know if they are eligible for relief.
Archive for the ‘Foreclosure Update’ Category
$25 Billion Mortgage Settlement
The real work begins to hold these servicers accountable and ensure that the nearly 2 million homeowners who are expected to receive help and relief actually get it.
Housing Scorecard
The Administration’s foreclosure programs are providing relief for millions of homeowners as we continue to recover from an unprecedented housing crisis. More than 5.7 million modification arrangements were started between April 2009 and the end of January 2012 – including nearly 1.8 million trial modification starts through the Home Affordable Modification Program (HAMP) and more than 1.2 million FHA loss mitigation and early delinquency interventions. The Administration’s programs continue to encourage improved standards and processes in the industry, with HOPE Now lenders offering families and individuals more than 2.7 million proprietary mortgage modifications through January.
Homeowner Bill of Rights!
Homeowners to be provided with a right of appeal in order to protect them against improper foreclosure
Foreclosure Abuse in S.F.
Foreclosure fraud had been as rampant in judicial states as non-judicial ones.
Low Income and Senior Grants
For the elderly or disabled, the ROSS-SC program provides funding to hire a service coordinator who arranges supportive services that allow residents to maintain their independent lifestyle.
$25 Billion Agreement
The agreement resolves certain violations of civil law based on mortgage loan servicing activities. The agreement does not prevent state and federal authorities from pursuing criminal enforcement actions related to this or other conduct by the servicers.
