modifications

If you have a payment option ARM, or possibly some other types of ARMs, that are underwater, you may get a letter from Bank of America starting in May to alert you about a new mortgage modification program that will include a reduction in principal. The program will only focus on a certain class of...

The idea behind the $75 billion Home Affordable Mortgage Program is to give homeowners facing foreclosure a means to get lower monthly payments and stay in their houses. The participants must successfully complete a trial period and provide additional documentation to prove that they're able to...

While Obama's housing rescue efforts got off to a slow start, there appear to be some signs of a housing recovery. But growing unemployment and looming foreclosures could quickly put a damper on these tender green shoots. First the positive signs. Some big cities showed substantial improvement in...

U.S. foreclosure filings continue to rise, proving that job losses and falling property prices are overpowering any attempt by the government to modify loans and keep people in their homes. For the fourth straight month, foreclosures topped 300,000 as more than 336,000 homes reported foreclosure...

Federal law enforcement agencies, state investigators and prosecutors, civil enforcement authorities, and the private sector banded together today to protect homeowners from criminals operating foreclosure or loan modification schemes. This new, coordinated effort will improve fraud investigations,...