Currently viewing the tag: "Making Home Affordable"
Massachusetts Court to Wells Fargo: HAMP Loan Mods are Enforceable
February 1, 2011 by CULIK LAW
Federal Judge F. Dennis Saylor, IV of the Worcester division of the United States Court for the District of Massachusetts has recently denied an attempt by Wells Fargo to dismiss homeowners’ claims against it. The issue was whether the trial loan modifications sent by Wells Fargo to homeowners were enforceable contracts. (Culik Law has a [...]
Continue Reading →Analysis of Recent Loan Mod Lawsuits Filed vs. Bank of America
December 18, 2010 by CULIK LAW
The New York Times reports that the attorneys general of both Arizona and Nevada have filed major fraud lawsuits against Bank of America, the largest mortgage servicer in the United States, for its failure to comply with loan modification requirements. The Nevada lawsuit claims that Bank of America misled vulnerable homeowners in numerous ways, including [...]
Continue Reading →Making Home Affordable provision creates new standard, new obstacle to foreclosure
September 10, 2009 by CULIK LAW
Q: What is the industry standard for how mortgage loan servicers are supposed to act with regard to foreclosure prevention? Interesting question, because the answer to that question is the standard by which Massachusetts homeowners in foreclosure should be able to measure the actions of their loan servicers – if the loan servicers don’t comply [...]
Continue Reading →Taxpayers Paying Subprime Players Billions to Fix Loan Mess (Democracy Now)
September 2, 2009 by CULIK LAW
Democracy Now! reports on how subprime lenders are receiving TARP funds under the Obama Administration’s Making Home Affordable plan to fix the loans that they originated. via Report: Taxpayers to Pay Subprime Players Billions to Fix Loan Mess.
Continue Reading →Making Home Affordable servicer report for July 2009
August 27, 2009 by CULIK LAW
The Department of Treasury released its report for July 2009 of mortgage servicers’ performance in performing loan modifications. The intent of these reports is to “shame” loan servicers into performing better. Any Massachusetts residents care to share their stories? MHA_public_report.pdf (application/pdf Object).
Continue Reading →Homeowners tell how banks failed to modify mortgages (McClatchy)
August 26, 2009 by CULIK LAW
More Kafkaesque stories of homeowners going through the loan-modification process. Homeowners tell how banks failed to modify mortgages | McClatchy.
Continue Reading →Phone numbers for Fannie Mae and Freddie Mac
July 31, 2009 by CULIK LAW
If you’re a Massachusetts homeowner having trouble getting your loan servicer to work on your loan modification or workout, check here to see if your loan is backed by Fannie Mae or Freddie Mac. Fannie/Freddie Loan Lookup Tool If it is, you can call the appropriate phone number to see if someone at Fannie or [...]
Continue Reading →July 28 (Bloomberg) — Mortgage servicers meeting with Obama administration officials pledged to step up the pace of loan modifications to keep more struggling homeowners from sliding into foreclosure, according to the U.S. Treasury. “Too many homeowners are at risk of foreclosure right now,” Treasury Secretary Timothy Geithner said in a statement today after talks [...]
Continue Reading →Despite New Programs, Few Loan Modifications
June 8, 2009 by CULIK LAW
Despite massive public outreach, the Obama Adminstration’s loan-modification programs are failing to reach many homeowners. The New York Times reports: Through many months of wrangling over the fate of the financial system, with hundreds of billions of taxpayer dollars dispensed on bailouts, distressed homeowners have waited for their own rescue amid talk that it was [...]
Continue Reading →Untitled Document "I cannot thank you enough for the stellar work you did on my Loan Modification. I tried it myself with no success. You were the expert I needed! You were friendly with me and relentless with the bank. You never lost patience nor spirit. You took it to every level necessary to win. AND WIN WE DID. The Modification you obtained cut over a thousand dollars from my monthly mortgage payment! I can keep my house!" Sincerely yours, Robert N.
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