May 26, 2010

New HAMP Guidelines Take Effect June 1, 2010

The federal government provided new Home Affordable Modification Program (HAMP) outreach and communication guidelines for foreclosure actions while evaluating the borrower.  These guidelines provide additional protection […]
May 19, 2010

FHA’s new principal reduction program

A new program issued by the Federal Housing Administration (FHA) requires lenders to reduce the principal by at least 10% for qualified borrowers.  Borrowers can qualify […]
May 17, 2010

New Mortgage Program for Unemployed

The Home Affordable Unemployment Program (UP) takes effect July 1, 2010, offering eligible unemployed borrowers an option to temporarily reduce or suspend mortgage payments for a […]
May 10, 2010

60 Minutes Special: Walking Away

The incidence of negative equity in properties is unmatched in history. 65% of residences in Nevada are drowning and the water continues to rise.  See the […]