Certain types of debt can often be burdensome for individuals who are attempting to repay these debt obligations but may not have an income that allows them to easily meet their repayment terms. An example of such debt is student loan debt which is often acquired by many college students who need assistance in...
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Some Bank of America homeowners who have attempted to gain mortgage assistance through a home loan modification from the Obama Making Home Affordable Program have moved into bankruptcy after being denied help with their home. Bank of America has seen an increase in the number of permanent home loan modifications they have made from...
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Homeowners have been using various plans to erase their mortgage debt in a much timelier manner. Obviously, almost any homeowner would prefer to own their home outright, but few can meet the total costs of buying a home upfront. Yet, there are refinancing opportunities that homeowners have used over the past months that have...
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Homeowners have feared foreclosure or bankruptcy since many are falling upon difficult economic times in terms of their financial situation. Some homeowners have either seen a cutback in their income due to trouble at their place of employment or have faced unemployment, which is a common problem for millions of Americans at the present...
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J.P. Morgan Chase has seen improvements in their home loan modification efforts over the past months as more modifications have been permanently made on homes where a homeowner was struggling to meet their mortgage obligation and faced the possibility of default. However, some homeowners have had more difficulty than others when it comes to...
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Underwater home loan refinancing has been an option for some homeowners who have seen the value of their home plummet and are now in a situation where they owe more on their home than their home is actually worth. Earlier in the year many homeowners in this situation were frustrated and simply walked away...
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Small business loans are being requested by various companies but there are concerns that lending practices may be too constrained from financial institutions that can provide access to capital that many small businesses need. While big financial institutions have been accused of not lending, there are reports that some have loosened their lending practices...
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Citigroup is one of the mortgage servicers who has been using home loan modifications from the Obama’s Making Home Affordable Program to help homeowners find a more affordable home loan payment. Many homeowners have seen cutbacks at their jobs or have had a spouse who has become unemployed and, as a result, have needed...
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According to the July Making Home Affordable servicer report, GMAC Mortgage saw a decrease in the number of trial home loan modifications that are currently active as of the report’s release date. Many lenders in the Making Home Affordable Program did see a decrease in the number of trial home loan modifications that are...
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Homeowners who previously had a trial modification on their home loan with Wells Fargo may have found themselves receiving a cancellation as the number of active trial modifications for Wells Fargo decreased from June to July. Many mortgage servicers have seen drops in the number of active trial modifications and, while some homeowners believe...
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