Entries by dlewis

LOAN MODIFICATION FAILURE: WHAT YOUR LENDER ISN’T TELLING YOU ABOUT “NPV” AND PRINCIPAL REDUCTIONS (PART 1 OF 3)

Loan modifications have been big news (not all good) over the past few years as the government has fully instituted the Home Affordable Modification Program (HAMP). Although HAMP has thus far been an unmitigated failure, it was originally intended to provide financial incentives for lenders to lower interest rates, extend maturity dates and reduce principal […]

LENDERS ARE GOING AFTER BORROWERS POST-SHORT SALE

Financially distressed borrowers may think that a foreclosure or a short sale means their mortgage troubles are over. That’s simply not the case. The Washington Post reported last week that “over the past year, lenders have become much more aggressive in trying to recoup money lost in foreclosures and other distressed sales [e.g. short sales], […]