Comments on: Loan Modifications: Slow Start on Modifying Home Loans

By: Darius Wells

Darius Wells — Mon, 26 Oct 2009 05:52:24 +0000

That because the lenders are not concerned with helping individual, they are just concerned with getting their collecting their funds.

By: Sundream Estate

Sundream Estate — Sun, 04 Oct 2009 04:19:07 +0000

I think that the banks are not so interested in modifications home mortgages. They do more money on the old way.

By: mark @ Self Certified Remortgage

mark @ Self Certified Remortgage — Sat, 03 Oct 2009 03:27:18 +0000

I agree with Tony. They need to make it easier for first time buyers to get onto the market. This will help the property market for sure. .-= mark @ Self Certified Remortgage´s last undefined ..If you register your site for free at =-.

By: JaysonNHS

JaysonNHS — Fri, 02 Oct 2009 17:01:38 +0000

@Mike – It’s expensive to hire and train a bunch of employees; I imagine they’re less worried because Uncle Sam is always around to help out with our money.

@San Diego Homes – I read a similar report a few months back – you’d think lenders wouldn’t waste the time and money on a modification if it’s not an effective one. People are way under on their loans and would rather walk-away then payback hundreds of thousands of dollars.

By: San Diego Homes

San Diego Homes — Fri, 02 Oct 2009 07:21:35 +0000

There was a dubious report in the Wall Street Journal today, saying that around half of all modified loans are again becoming delinquent. I'm surprised by this, but also know that not all loan modifications are particularly helpful. Banks often offer to refinance, and have been quick to lower monthly payments by using 40-year amortization, sometimes actually adding to the amount owed. The more attractive loan modifications keeps all other things equal but lowers the interest rate on the loan. I find it hard to believe that half the people would walk away from 4 percent 3-year fixed loans. .-= San Diego Homes´s last blog ..Loans Delay San Diego Home Buying =-.

By: Mike Taylor

Mike Taylor — Thu, 01 Oct 2009 13:01:25 +0000

I just don’t understand how lenders don’t just dump a ton of resources and manpower into this. It seems they just don’t want to go along with these loan mods.

By: homes for sale calif

homes for sale calif — Tue, 29 Sep 2009 07:08:29 +0000

Many lenders of loan modification has requirements that must be completed first. By the way can the mortgagee include all fees and corporate advances?

By: tony@Hawaii real estate

tony@Hawaii real estate — Mon, 28 Sep 2009 23:18:28 +0000

Too bad that so little of the stimulus done so far was actually for housing. I hope they extend the first time buyer credit and come up with other ideas to get people buying these distressed homes!