principal
It's been well-reported that mortgage loan modifications are moving like molasses at big banks. But a little company called Ocwen Financial is using behavioral science to remove the stumbling blocks that get in the way of people trying to keep their homes.
Mortgage loan modifications: More banks offering reduction in principal
10:30AM 12/22/2009
Many economists have long maintained that the only way for mortgage loan modifications to really work is for banks to reduce the actual principal rather than just the interest payments, which tend to simply prolong the torture for many and increase the amount they owe. Getting most lending...
Mortgage modification program isn't stopping homeowner defaults
11:00AM 12/06/2009
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...
How I Spent My Tax Rebate: Paid extra on my mortgage
2:30PM 5/15/2008
Some have asked me what's the best use for the $1,200 tax rebate (families with kids get more). That was an easy answer for me personally -- I paid extra on my mortgage principal. You probably realize that each time you make the payment on a 30-year mortgage only a small portion goes toward...
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