Banks Fail To Modify Mortgages - Homeowners tell how firms failed to redo home loans

By Kevin G. Hall
McClatchy Newspapers

Nearly three years into the deepest U.S. housing slump in generations, lenders are modifying only a small number of problem mortgages, and rising foreclosures are retraining the economy’s recovery.

The Obama administration has stepped up pressure on lenders [...]

Nevada recently passed a bill that requires all lenders to appear for mediation prior to foreclosing on a property. The bill has now been utilized to force lenders to the mediation table before they foreclose.

The Nevada Foreclosure Mediation Program has received its first three requests for mediation as the homeowners work to save their [...]

Stephen Hoshida, Manager of National Loan Auditors’ Online Legal Portal, continues his discussion of the loan modification process in Part II of this interview series:

What factors are taken into consideration by the mortgage lender when determining whether or not a borrower qualifies for a loan?

There are a number of factors that the lender takes into [...]