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 Permanent Modifications Approaching 700k
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 Permanent Modifications Approaching 700k
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 Permanent Modifications Approaching 700k

June 10, 2011 (Jeff Alan)

The Treasury Department reports that a total of 699,053 permanent loan modifications have been started under the government’s Home Affordable Modification Program (HAMP) through the end of April, 2011. Permanent modifications in April numbered 28,867, which was less than the 36,827 recorded in March of 2011, but was in-line with the programs average for the last six months.

Mortgage servicers reported 29,011 new trial modifications were started in April bringing the total amount of homeowners in active trial modifications to 135,041 according to the Treasury’s Program Performance Report.

Homeowners who have received HAMP first lien permanent loan modifications have saved a total of $6.3 billion since the inception of HAMP in April 2009. The median savings for borrowers with active modifications is $526.06 which was 37% less than what their payment was before their loan modification.

Seventy-nine percent of homeowners who started trial modifications were at least 60 days or later delinquent at the start of the trial with the rest being up to 59 days late or current but in imminent default.

Homeowners who are in active permanent loan modifications gave the following primary reasons for their hardship:

– 60.7% experienced loss of income (curtailment of employment or unemployment)
– 11.4% reported excessive obligations
– 2.8% reported an illness to the principal borrower

Active permanent modifications by type were:

– 100% interest rate reduction
– 9.5% term extension
– 30.5% principal forbearance

Since June 2010, the average length of a trial modification was 3.5 months, down from 5.2 months for trials started before June 2010. Since that time, a larger percentage of trial modifications have also been converted to permanent modifications with 70 percent now being converted.

Since HAMP started, the total number of trial modifications numbered 1,588,034, with now less than half, 753,041, being canceled.

California continued to have the highest percentage of HAMP loan modifications, accounting for 24.0 percent of total activity. California to date has tallied 145,599 total HAMP permanent loan modifications.

Bank of America has had the most loan modifications with 155,636 total active modifications, followed by JPMorgan Chase with 104,970, and Wells Fargo Bank with 99,051 total active modifications.

Tags: Making Home Affordable, HAMP, loan modifications, trial modifications, permanent modifications, mortgage payment reductions, median payment reduction

Source:
Treasury Department

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

June 10, 2011 (Jeff Alan)

The Treasury Department reports that a total of 699,053 permanent loan modifications have been started under the government’s Home Affordable Modification Program (HAMP) through the end of April, 2011. Permanent modifications in April numbered 28,867, which was less than the 36,827 recorded in March of 2011, but was in-line with the programs average for the last six months.

Mortgage servicers reported 29,011 new trial modifications were started in April bringing the total amount of homeowners in active trial modifications to 135,041 according to the Treasury’s Program Performance Report.

Homeowners who have received HAMP first lien permanent loan modifications have saved a total of $6.3 billion since the inception of HAMP in April 2009. The median savings for borrowers with active modifications is $526.06 which was 37% less than what their payment was before their loan modification.

Seventy-nine percent of homeowners who started trial modifications were at least 60 days or later delinquent at the start of the trial with the rest being up to 59 days late or current but in imminent default.

Homeowners who are in active permanent loan modifications gave the following primary reasons for their hardship:

– 60.7% experienced loss of income (curtailment of employment or unemployment)
– 11.4% reported excessive obligations
– 2.8% reported an illness to the principal borrower

Active permanent modifications by type were:

– 100% interest rate reduction
– 9.5% term extension
– 30.5% principal forbearance

Since June 2010, the average length of a trial modification was 3.5 months, down from 5.2 months for trials started before June 2010. Since that time, a larger percentage of trial modifications have also been converted to permanent modifications with 70 percent now being converted.

Since HAMP started, the total number of trial modifications numbered 1,588,034, with now less than half, 753,041, being canceled.

California continued to have the highest percentage of HAMP loan modifications, accounting for 24.0 percent of total activity. California to date has tallied 145,599 total HAMP permanent loan modifications.

Bank of America has had the most loan modifications with 155,636 total active modifications, followed by JPMorgan Chase with 104,970, and Wells Fargo Bank with 99,051 total active modifications.

Tags: Making Home Affordable, HAMP, loan modifications, trial modifications, permanent modifications, mortgage payment reductions, median payment reduction

Source:
Treasury Department

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

June 10, 2011 (Jeff Alan)

The Treasury Department reports that a total of 699,053 permanent loan modifications have been started under the government’s Home Affordable Modification Program (HAMP) through the end of April, 2011. Permanent modifications in April numbered 28,867, which was less than the 36,827 recorded in March of 2011, but was in-line with the programs average for the last six months.

Mortgage servicers reported 29,011 new trial modifications were started in April bringing the total amount of homeowners in active trial modifications to 135,041 according to the Treasury’s Program Performance Report.

Homeowners who have received HAMP first lien permanent loan modifications have saved a total of $6.3 billion since the inception of HAMP in April 2009. The median savings for borrowers with active modifications is $526.06 which was 37% less than what their payment was before their loan modification.

Seventy-nine percent of homeowners who started trial modifications were at least 60 days or later delinquent at the start of the trial with the rest being up to 59 days late or current but in imminent default.

Homeowners who are in active permanent loan modifications gave the following primary reasons for their hardship:

– 60.7% experienced loss of income (curtailment of employment or unemployment)
– 11.4% reported excessive obligations
– 2.8% reported an illness to the principal borrower

Active permanent modifications by type were:

– 100% interest rate reduction
– 9.5% term extension
– 30.5% principal forbearance

Since June 2010, the average length of a trial modification was 3.5 months, down from 5.2 months for trials started before June 2010. Since that time, a larger percentage of trial modifications have also been converted to permanent modifications with 70 percent now being converted.

Since HAMP started, the total number of trial modifications numbered 1,588,034, with now less than half, 753,041, being canceled.

California continued to have the highest percentage of HAMP loan modifications, accounting for 24.0 percent of total activity. California to date has tallied 145,599 total HAMP permanent loan modifications.

Bank of America has had the most loan modifications with 155,636 total active modifications, followed by JPMorgan Chase with 104,970, and Wells Fargo Bank with 99,051 total active modifications.

Tags: Making Home Affordable, HAMP, loan modifications, trial modifications, permanent modifications, mortgage payment reductions, median payment reduction

Source:
Treasury Department

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