Monday, August 8, 2011

More Seller Get Loan Modification and Seems to be Helping

In June, the Home Affordable Modification Program helped 657,044 home owners avoid foreclosure through permanent loan modifications — that’s up from 633,459 in May, according to Treasury Department statistics released Friday.

However, while the number has grown, the numbers still fall short of the initial goal to help 3 million to 4 million borrowers through HAMP, which since 2009 has reduced mortgage payments to help borrowers avoid foreclosure. For more information you can check out the Home Foreclosure Fighter program. Just Call Now: 877-846-2701

For underwater sellers, the ones who owe more on their mortgages than their home is currently worth — about 7000 have participated in a Load Modification, which is up from 4,911 last month, the Treasury Department reported late last week. For borrowers who qualified to have their loan balances reduced, they’ve seen median principal reductions of $67,751, or 30.7 percent. Many people are buying bank out property, you can give it a try - 7 Day FREE Trial

We continue to see a slight improvement in home prices and a decline in mortgage defaults as our foreclosure programs reach more borrowers upstream in the process,, Housing and Urban Development assistant secretary. “But we have much more work to do to help the market recover and to reach the many households there and across the nation who still face trouble."

Young Generation Hit Hard by Recession

The recession has hit the younger generation hard and is forcing them to delay many major life changes and purchases, according to a new survey. About 44 percent of Millennials — people aged 18 to 29 — say they will have to delay buying a home due to economic factors, according to a survey conducted by The Polling Co. Inc./WomanTrend.

About 75 percent say they have or will delay a major life change or purchase due to economic factors, and 30 percent say the bad economy has prompted them to delay changing jobs or cities. What’s more, nearly 25 percent say they will delay starting a family, and 18 percent say they will delay getting married. There is a great opportunity to profit from the recession. The foreclosure market can be lucrative. You can Find Foreclosures Nationwide with one click.

Such delays by the younger generation has started to affect household formation. Many young professionals are moving back in with their parents to curb costs, which has caused household to grow in recent years after facing decades of declines. If information is needed regarding a loan modification you can Call Now: 877-846-2701

"The impact of the poor economy, in human terms, has been devastating. This is especially true for young Americans, whose lives have been interrupted and dreams put on hold due to the lack of economic opportunity," says Paul T. Conway, president of Generation Opportunity.

Will the S&P Downgrade Affect Interest Rates?

Standard & Poor downgraded the U.S.'s credit rating on Friday, despite Congress reaching a deal in the final hours on the debt ceiling crisis last week. And now many of your customers may be asking: What does this mean for interest rates?

“The impact on your wallet of the Standard & Poor's downgrade of the nation's credit rating is similar to what would happen if your own credit score declined:The fact is more insurance and better coverage is important. You can Call Now: 877-639-0067

The cost of borrowing money is likely to go up,” the Washington Post explained in the after the downgraded the U.S.'s top-notch AAA credit rating for the first time in history, moving it down to AA+; the rating reflects a downgrade in S&;P’s confidence in the U.S. government’s ability to repay its debts over time. It’s not clear, however, whether S&P’s downgrade will instantly effect rates, analysts say. At the same time, why worry? Take advantage of Daily deals on the city's best stuff only from Groupon. Restaurants, spas, events & more, 50%-90% off!

The 10-year Treasury note is considered the basis for all other interest rates. And “the downgrade could increase the yields on those bonds, forcing the government to spend more to borrow the same amount of money,” the Washington Post article notes. If you need information on loan modifications simply Call Now: 877-846-2701 “Many consumer loans, such as mortgages, are linked to the yield on Treasurys and therefore would also rise.”