Tag Archives: loan modification
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In an earlier blog published 10-30-12, we tracked some of the developments in the so-called “historic” National Mortgage Settlement (NMS) with Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally which was announced in February, 2012. To review: The NMS encouraged these five ”bad actors” to reach out and actively solicit homeowners for loan modifications,… Read More »
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A recent bankruptcy court decision illustrates a common forbearance problem. After missing three consecutive mortgage payments, debtors entered into a Mortgage Forbearance Plan (MFP) with their lender. The plan provided for reduced mortgage payments for six months. The court found that “the parties anticipated that at the end of the six months, the lender would… Read More »
