Do You Need Help ?

 See If  You Qulife For A Loan Modification Program

As of 06/20/2010

As of April 1 2010 the banks now set you up on 6 payments before they will send you a new NOTE and MORTGAGE so banks get it out in 30 days but if they don't you need to keep paying your PAYMENT that they set you up on in till your new paper work comes from them and MAKE SURE YOU PAY IT
on the day it was set for the first 6 payments .....

The banks now send you a letter letting you know that they have your docs and how long it could take for them to look them over

What the banks for for is.

1 30 days pay stubs

2. 30 days bank statements

3. 2009 1040 tax return

4. light bill or gas bill

5 ID

6. mortgage statement

7. tax bill

8. proof that you home has insurance and how much it cost

Of 12/10/2009

The banks have help 750.000. home owners with loan modifications by lowing there payment by 30% or more.

But there are still so many more to help that the banks are still so far behind that some people are just walking out

of there homes and living out in the streets .

 Now the government  is walking in to the banks to make sure that they are doing as much as they can to help out in are hard time

as they have been getting help from the tax payers to modify loans to help us save are homes.

 Do you need help? are you behind in your payments? Or are you living pay check to pay check?

As of 11/30/2009

WASHINGTON – The Obama administration, battling a foreclosure crisis that shows no signs

of relenting, will step up pressure on mortgage companies to do more to help people remain in their

 homes, officials said Saturday.

The administration will announce its expanded program on Monday, Treasury spokeswoman Meg Reilly said.

"We are taking additional steps to enhance servicer transparency and accountability," Reilly said.

She said the goal was to increase the rate that troubled home loans were converted into new loans

with lower monthly payments.

Industry officials said the new effort would include increased pressure on mortgage companies to

accelerate loan modifications by highlighting firms that are lagging in that area.

The Treasury is also expected to announce that it will wait until the loan modifications are

permanent before paying cash incentives to mortgage companies that lower loan payments.

Under the $75 billion Treasury program, companies that agree to lower payments for troubled

borrowers collect $1,000 initially from the government for each loan, followed by $1,000 annually

for up to three years.

The government support, which is provided from the $700 billion financial bailout program, is aimed

 at providing cash incentives for mortgage providers to accept smaller mortgage payments rather

 than foreclosing on homes.

The program has come under heavy criticism for failing to do enough to attack a tidal wave of

foreclosures. Analysts said the foreclosure crisis is likely to persist well into next year as high

 unemployment pushes more people out of their homes.

Rising foreclosures depress home prices and threaten the sustainability of the fledgling economic recovery.

A report last week from the Mortgage Bankers Association found that 14 percent of homeowners

 with mortgages were either behind on payments or in foreclosure at the end of September, a record

 level for the ninth straight quarter.

The Congressional Oversight Panel, a committee that monitors spending under Treasury's bailout program,

 concluded in a report last month that foreclosures are now threatening families who took out conventional,

fixed-rate mortgages and put down payments of 10 to 20 percent on homes that would have been within

their means in a normal market.

Treasury's program, known as the Home Affordable Modification Program, "is targeted at the

 housing crisis as it existed six months ago, rather than as it exists right now," the report said.

Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable,

said the industry supported many of the changes Treasury was proposing.

But he said the foreclosure problem, which began with heavy defaults on subprime mortgages,

was expanding to more traditional types of mortgages because of unemployment which has now hit a

 26-year high of 10.2 percent.

"The subprime problem has regrettably morphed into an unemployment problem," Talbott said.

He said there was no government program to help the unemployed who are in danger of losing their

 homes but "many private lenders are modifying loans for the unemployed on their own."

Treasury's Reilly said the expanded program would, among other steps, make more aid available

 not intended, and should not be regarded, as financial or legal advice. We attempt to ensure that the material contained

on the web-site is accurate and complete at the date first published, howeveryou should recognize that information

contained on this web-site may become out of date over time. Readers who have particular questions real estate

financing or foreclosure, or who believe they require legal counsel, should seek the advice of an attorney.

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