obama and loan modification latest news


Loan modification program in Phoenix helps fewer than expected

A year and a half after it began, the federal government's loan-modification program is helping fewer homeowners facing foreclosure than hoped.
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The FHA’s ‘Short Refinance’ Program: Frequently Asked Questions

Here are some answers to the most frequently asked questions about the FHA's 'Short Refinance' program.
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Rescue from foreclosure? Frustration, anger grow

When he tried to change the terms of his home loan, Michael Guzman was rejected because the bank didn't consider his joblessness a long-term hardship.
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White House to Deploy Broader Mortgage Aid- YOU DECIDE: Best Way to Stoke Economy?

The Obama administration on Tuesday will launch its most ambitious effort at reducing mortgage balances for homeowners who owe more than their homes are worth.
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Mary Bottari: Welcome Mr. President, but Laverne and Shirley Don't Work Here Anymore

MILWAUKEE. -- For many Americans Lavern and Shirley remain the enduring icons of the city of Milwaukee. Barack Obama was a teenager when the sitcom...
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ANALYSIS: Obama running out of options to aid housing market

A further downturn in the battered US housing market has put the Obama administration in a tough spot with few tools to stem foreclosures ahead of congressional elections in which Democrats face big losses.
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First Person: On Foreclosures, Who's at Fault, Banks or Homeowners?

The Associated Press reported recently that nearly half of all enrollees in the Obama administration's flagship mortgage-relief program have dropped out. A CNN Money report on Monday lauds the nation's banks, suggesting that while the government Home Affordable Modification Program is failing, banks are stepping up with their own modification terms to rescue financially strapped homeowners from ...
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Surprise! Banks help more homeowners than Obama

Remember how everyone complained that banks weren't doing enough to help troubled borrowers?
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Foreclosure program losing its punch

The president's signature foreclosure rescue plan is losing its punch, according to a federal report released Friday.
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Cali Mortgage Modifications Face Another Hurdle

California lawmakers rejected a law that would have allowed homeowners to sue banks over mortgage modification options.
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