Loan Modifications Deed-in-Lieu of Foreclosure

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist... more +
Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -
News & Analysis as of

California Retroactively Extends Mortgage Debt Forgiveness Tax Relief, But Only For 2013

At the end of July, the California state legislature enacted an extension of its modified conformity to federal mortgage debt forgiveness tax relief for 1 year, through 2013. The law allows exclusion of income realized as a...more

Fannie Mae Issues Numerous Servicing Guide Announcements

Over the past week, Fannie Mae has announced numerous servicing policy changes through a series of Servicing Guide Announcements. In SVC-2013-25, Fannie Mae updated allowable bankruptcy attorney and foreclosure attorney fees,...more

Top 7 Tips To Avoid Foreclosure

7 steps distressed homeowners can take to avoid the foreclosure of their home. Options include: 1. Loan modification 2. Refinancing 3. Litigation 4. Chapter 13 bankruptcy 5. Chapter 7 bankruptcy 6. Short sale,...more

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