HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

jack lewis — Fri, 08 Aug 2008 11:00:00 GMT

I am doing short refinances and I am an FHA lender. Lenders thst do not work with homeowners need to be held accountable.

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

Anonymous — Fri, 14 Mar 2008 11:00:00 GMT

Countrywide refuses to modify our loan ( it is a VA refunded loan -done 6 yrs. ago ) - they say I can only qualify for a re-payment plan - after 4 months of being told I WOULD qualify for a loan modification.-but that they are backed up and please be patient...so now we are 4 months FURTHER in the hole with Countrywide. Their c.s. in the HOPE dept. is terrible and you can never get in touch with negotiators - plus - they wouldnt accept any payments during this whole fiasco. We are in desperate need of help. I have tried everything. We are now almost 12 months behind.-I called weekly touching in during this wait - and was told everything was OK - now we face foreclosure...PLEASE help.

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

Jeff — Wed, 27 Feb 2008 13:00:00 GMT

I hear what everyone is saying. I'm a R.E. Investor and have 3 properties in foreclosure. I've tried to refinance before this happened 6 months into the loan when we knew we were going to fall behind. My credit was great as well as my income, but they would not refinance because they said they don't do investment properties any more. I have 3 renters that pay $1,050.00 a month and the mortgages are $2,000.00 if they give me 6.5% to 7.5% we can manage, but they would rather have the properties. We are going to give them back the properties by Deed in Leu.. No other choice, and it might save them from coming after you for balances..

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

kateiek — Fri, 11 Jan 2008 13:00:00 GMT

I have been going in circles with EMC for 3 weeks because I am 1 1/2 months behind and first I was told I could defer a payment to catch up, then told because my loan isn't a year old I can't, then I was told I could modify it, then told I can't for the same reason,I offerred to make a full and partial payment and was told they would only accept full payment for the month and a half I'm behind. What's with EMC? They contradict themselves constantly and drive us poor suckers nuts!

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

Darryl — Mon, 03 Dec 2007 13:00:00 GMT

I heard that HUD or FHA offers a certification program for those interested in doing loan modifications, this is correct? What should I do? Who should I be contacting?

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

Ron — Fri, 31 Aug 2007 11:00:00 GMT

Will morgage companies take less than the balance in a full pay-off of a subprime mortgage? How can I negogiate it?

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

liz — Sun, 01 Jul 2007 11:00:00 GMT

I'm on a 2 yr interest only ARM which will end soon. I am unable to refinance because my loan is up-side down. What can I do? I don't want to end up foreclosing!!

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

Eliseo — Thu, 22 Mar 2007 11:00:00 GMT

Continuation from the prior statement . . . I understand the HUD guidelines but I can see that the lenders do not or does not want to understand and comply with them. We are trying to be of a service to them by bringing them relief of a bad note on their books and relief to the homeowner that has fallen into a distressful situation. Does anyone have any answers or solutions on this matter to have success in negotiating with the lenders?

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

Eliseo — Thu, 22 Mar 2007 11:00:00 GMT

I am a private investor and I have run into the same problems regarding "short sale negotiations" with the lenders. The are few lenders that are cooperative in short sales and all the other lenders are being hard nose about. It's funny, when I first started to work on a short sale with the lender, I ask the LMD Rep if they are willing to entertain a short sale with me and they say yes!

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

david — Sat, 01 Jul 2006 11:00:00 GMT

The reason mortgage lenders can do as they please is the same reason pharmacutical companys can charge what they want to for medicine. One word, lobbyists. They pay the government to keep thier guidelines to a minimum. Wake up people, it will never change. Money talks.

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

Anonymous — Tue, 20 Sep 2005 11:00:00 GMT

How does one become a Loss Mitigation Specialist in the State of Virginia?

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

Chris & Susan — Wed, 24 Aug 2005 11:00:00 GMT

My husband was laid off work five months. He finally got on a direct position with a good company. We became behind four house payments. We kept in constant contact with EMC our lenders. They said once Chris got a job they would tact the house payments onto the loan, but actually what they did was double our house payments. We have two two. We have two girls in school and are behind in bills. How can we stop this without losing our home. We are first time buyers.

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

mary — Fri, 01 Jul 2005 11:00:00 GMT

I reside in louisiana and interested in becoming a loss mitigation specialist. What I need to do?

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

Johnston — Tue, 28 Jun 2005 11:00:00 GMT

Whats a short sale? Im familiar with the term in stocks, but not real estate or mortgages. Thanks.

RE:HUD Pushes Mortgage Lenders To Avoid Foreclosure Losses

Pat F — Wed, 22 Jun 2005 11:00:00 GMT

Im guessing lenders simply dont care what HUD tries to enforce. Im a private investor that works in short sales, and the new trend among lenders is to get 90% of total accrued debt or 100% of the appraisal price. This kills any chance of a sale, and the lender takes it back to sell sometimes a year down the road at even greater losses. Any idea when HUD might actually do something about the foreclosure epidemic and make lenders face the music?