Based on Dodd Frank regulations, access to mortgages for people of all ages is constrained by the ATR Rule. This rule requires that a borrower must demonstrate the ability to repay the mortgage. We no longer have the easy to qualify mortgage t
For the past several years, all the talk has been about avoiding foreclosure with loan modifications and short sales for underwater properties with distressed financial situations. One area that has been over looked or maybe just absent from the headlines
In a July post, I briefly explained forbearance as it relates to the Loan Modification process. I suggested caution and thorough consideration when your lender makes this a requirement of your requested Loan Modification. I also noted that even if y
The Loan Modification process can be tricky. I personally do not endorse modifications because I do not believe that they are fair or equitable for the borrowers. Having said that, the process is fraught with risk and you need to understand wh
People often complain about the difficulty in obtaining a modification of their loan to achieve a more affordable payment. The fundamental problem that exists is that your mortgage lender that you make monthly mortgage payments to is oft