Results matching “HAMP” from California Bankruptcy Attorney Blog

August 31, 2010

Bloggers Suggest Obama Administration Intended HAMP as a Bailout of Lenders

As Riverside County loan modification attorneys, we were interested to see an article discussing a recent meeting the Treasury Department held about HAMP -- the Home Affordable Modification Program. This is the government-backed loan modification program that has come under...

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August 18, 2010

Political Candidates Increasingly Candid About Their Past Experiences With Bankruptcy

As Fontana personal bankruptcy attorneys, we have been interested to note several recent articles about Congressional candidates around the country who are openly discussing past bankruptcies. In Arkansas, Republican Rick Crawford is running for the House of Representatives, in part...

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August 13, 2010

Protesters Call on Chase to End Foreclosures and Pay Allegedly Overdue Property Taxes

A recent article about protest marches on Chase banks throughout California caught the eyes of our Ontario loan modification lawyers. As Watsonville's Register-Pajaronian reported Aug. 12, protestors in that city and many others, including Los Angeles, marched on the banks...

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July 26, 2010

Report Examines Ongoing Problems With Loan Modifications Even in Wealthy Areas

At the beginning of 2009, our Fontana loan modification lawyers wrote about many articles outlining the struggles homeowners face when they seek a loan modification. This type of news coverage has dropped off in recent months -- not because it's...

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July 20, 2010

Congress Hears Mixed Testimony on Need for Medical Bankruptcy Legislation

Last fall, we wrote about the Medical Bankruptcy Fairness Act, a bill in Congress that would change how the bankruptcy courts treat people who are driven into bankruptcy by high medical bills. Our Ontario personal bankruptcy attorneys were pleased to...

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June 11, 2010

California Considering Law Banning Foreclosures Before Loan Modification Decision

Our Moreno Valley loan modification attorneys have worked with distressed homeowners for well over a year, from the beginning of the mortgage crisis. In that time, we've heard numerous complaints from borrowers about lenders that grant a loan modification while...

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May 21, 2010

Article Describes Bureaucracy at Heart of Problems With Residential Loan Modifications

As Moreno Valley loan modification attorneys, we've long believed that banks' bureaucracy is a large part of the problem with the Home Affordable Modification Program. HAMP is the federal government loan modification effort intended to encourage banks to grant loan...

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May 7, 2010

Homeowners Continue to Go Into Foreclosure Because of Bank Miscommunications

As Rancho Cucamonga loan modification attorneys, we were interested to see an article outlining how homeowners are still losing their homes because of poor communications from and within their banks. USA Today ran a ProPublica report May 5 outlining how...

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April 9, 2010

Changes to Federal Loan Modification Program Encourage Principal Reductions

One of the most commonly cited ways to make loan modification programs more effective is to require banks to write down the principal on loans. This reduces the amount owed by the borrower, which encourages borrowers to stay put and...

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March 15, 2010

Federal Government Announces Plan to Pay Homeowners to Reach Short Sales

Like a lot of observers, our Brea loan modification attorneys have concluded that the government's Home Affordable Modification Program won't stop the new wave of unemployment-related foreclosures. These are foreclosures on borrowers who could afford to make their mortgage payments...

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March 1, 2010

Sacramento Lawsuits Allege Lender Deliberately Pushes Borrowers Into Foreclosure

Our Redlands loan modification attorneys have believed for many months that mortgage lenders are not very interested in modifying loans. But according to a Feb. 22 article in the Sacramento Bee, at least 11 lawsuits in the region allege that...

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February 25, 2010

Treasury Department Considers Adding Appeal Period to HAMP

Our Fullerton loan modification attorneys were very interested to learn that the federal government is still looking for ways to improve the Home Affordable Modification Program. A Feb. 22 article in the Wall Street Journal says the Treasury Department, which...

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February 22, 2010

New Federal Data Shows Sharp Increase in Permanent Loan Modifications

Federal statistics on loan modifications under the Home Affordable Modification Program have not been encouraging. So our Rancho Cucamonga loan modification lawyers were pleased to see a sharp increase in temporary modifications made permanent in the Treasury Department numbers released...

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February 19, 2010

New York State Loan Modification Program Called Ineffective Because It's Voluntary

A year after President Obama announced his Making Home Affordable plan to slow foreclosures, the plan has been heavily criticized. From the left, and from Ontario loan modification attorneys like us, the criticism has focused on the plan's lack of...

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February 4, 2010

A Look at Why One Lender Has Succeeded in HAMP While Others Have Failed

Our San Bernardino County loan modification attorneys have long believed that lenders' policies are primarily responsible for their success or failure in the federal loan-modification program. A Feb. 2 post on AOL's DailyFinance blog adds evidence to that belief by...

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January 29, 2010

Treasury Department Announces Tighter Deadlines and Documentation Rules for HAMP

As Fontana loan modification attorneys, we were interested in a recent announcement that the federal government is changing important rules for its foreclosure prevention program. According to a Jan. 28 article in MarketWatch, participants in the Home Affordable Modification Program...

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January 21, 2010

Analysis Says Federal Mortgage Program Has Helped Prop Up Housing Prices

Our Ontario loan modification attorneys are not alone in believing that loan modification programs have not helped most homeowners avoid foreclosure. But we were interested to see a Jan. 19 article in the Wall Street Journal reporting that at least...

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January 7, 2010

New York Times Again Calls for Mortgage Cramdowns in Consumer Bankruptcies

As Rancho Cucamonga loan modification lawyers, we have long supported laws that would allow bankruptcy judges to "cram down," or lower, principal owed on a primary home during a bankruptcy. In a Jan. 5 editorial, the New York Times reiterated...

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January 5, 2010

HAMP Gets a D Grade After 2009 Sees Low Permanent Modification Rates

As Riverside County loan modification attorneys, we've spent most of 2009 watching, and being disappointed by, the progress of federal foreclosure prevention efforts. A Dec. 31 article in the Modesto Bee sums up the state of those efforts under the...

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January 1, 2010

Study Finds Lenders Routinely Ignore New York State Foreclosure Settlement Law

As Chino loan modification lawyers, we have long been cynical about the behavior of mortgage lenders when their financial interests oppose the common good. So we were not surprised by a Dec. 30 article on BNET about a new study...

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