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HAMP Hits 600k Loan Mods
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
HAMP Hits 600k Loan Mods
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
HAMP Hits 600k Loan Mods

March 8, 2011 (Shirley Allen)
mortgage-train-image
What was first perceived as a Mack truck barreling down the foreclosure highway, the government’s Home Affordable Modification Program (HAMP) has turned out to be the little train that could. Originally forecast to save between 7 and 8 million homeowners from foreclosure, later reduced to 3 to 4 million, HAMP has now surpassed 600k permanent loan modifications and is expected to end with about 1.3 million loans modified when the program expires December 31, 2012.

The Treasury Department reports that HAMP has been running fairly steady over the past six months, with roughly equal numbers of trial modifications begun and permanent modifications granted. New trial modifications have been averaging about 27,000 a month, while those graduating to permanent modifications have been running around 29,000.

That is a far cry from a year ago when as many as 150,000 borrowers a month overwhelmed the program. However in the spring of last year, the Treasury Department announced new rules which required a stronger proof of eligibility before borrowers could begin trial modifications.

The lower volume of applications allowed mortgage servicers to gradually work their way through the backlog of existing trial modifications, of which approximately 44 percent eventually moved on to permanent modifications.

According to the January performance report, there are currently about 145,000 trials underway. January itself was almost right on the previous six months average with 27,000 new trial modifications begun and roughly 28,000 permanent modifications granted.

At that rate, approximately 1.3 million permanent modifications, or about one-third of what was predicted, will be completed. However, HAMP is one of the programs on the House Republicans chopping block and it is not clear if it will survive.

Tags: HAMP, loan modification, mortgage servicers, trial modifications, permanent modifications

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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
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March 8, 2011 (Shirley Allen)
mortgage-train-image
What was first perceived as a Mack truck barreling down the foreclosure highway, the government’s Home Affordable Modification Program (HAMP) has turned out to be the little train that could. Originally forecast to save between 7 and 8 million homeowners from foreclosure, later reduced to 3 to 4 million, HAMP has now surpassed 600k permanent loan modifications and is expected to end with about 1.3 million loans modified when the program expires December 31, 2012.

The Treasury Department reports that HAMP has been running fairly steady over the past six months, with roughly equal numbers of trial modifications begun and permanent modifications granted. New trial modifications have been averaging about 27,000 a month, while those graduating to permanent modifications have been running around 29,000.

That is a far cry from a year ago when as many as 150,000 borrowers a month overwhelmed the program. However in the spring of last year, the Treasury Department announced new rules which required a stronger proof of eligibility before borrowers could begin trial modifications.

The lower volume of applications allowed mortgage servicers to gradually work their way through the backlog of existing trial modifications, of which approximately 44 percent eventually moved on to permanent modifications.

According to the January performance report, there are currently about 145,000 trials underway. January itself was almost right on the previous six months average with 27,000 new trial modifications begun and roughly 28,000 permanent modifications granted.

At that rate, approximately 1.3 million permanent modifications, or about one-third of what was predicted, will be completed. However, HAMP is one of the programs on the House Republicans chopping block and it is not clear if it will survive.

Tags: HAMP, loan modification, mortgage servicers, trial modifications, permanent modifications

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

March 8, 2011 (Shirley Allen)
mortgage-train-image
What was first perceived as a Mack truck barreling down the foreclosure highway, the government’s Home Affordable Modification Program (HAMP) has turned out to be the little train that could. Originally forecast to save between 7 and 8 million homeowners from foreclosure, later reduced to 3 to 4 million, HAMP has now surpassed 600k permanent loan modifications and is expected to end with about 1.3 million loans modified when the program expires December 31, 2012.

The Treasury Department reports that HAMP has been running fairly steady over the past six months, with roughly equal numbers of trial modifications begun and permanent modifications granted. New trial modifications have been averaging about 27,000 a month, while those graduating to permanent modifications have been running around 29,000.

That is a far cry from a year ago when as many as 150,000 borrowers a month overwhelmed the program. However in the spring of last year, the Treasury Department announced new rules which required a stronger proof of eligibility before borrowers could begin trial modifications.

The lower volume of applications allowed mortgage servicers to gradually work their way through the backlog of existing trial modifications, of which approximately 44 percent eventually moved on to permanent modifications.

According to the January performance report, there are currently about 145,000 trials underway. January itself was almost right on the previous six months average with 27,000 new trial modifications begun and roughly 28,000 permanent modifications granted.

At that rate, approximately 1.3 million permanent modifications, or about one-third of what was predicted, will be completed. However, HAMP is one of the programs on the House Republicans chopping block and it is not clear if it will survive.

Tags: HAMP, loan modification, mortgage servicers, trial modifications, permanent modifications

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS