Where to get foreclosure help – All the Links you need!
2009/04/22, 5:53 pm
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With all the dubious assistance programs and out-right scams preying on home owners facing foreclosure, it can be difficult to find legitimate help.

Here’s a list of programs that are either operated by the U.S. government or have its seal of approval:

  • Call (888) 995-HOPE, the Homeowner’s HOPE Hotline to reach a nonprofit, HUD-approved counselor through HOPE NOW, a cooperative effort of mortgage counselors and lenders to assist homeowners.
  • The Controller of the Currency’s consumer information site for banking-related questions is

Source: Controller of the Currency (04/21/2009)


Loan servicers hiring to meet rescue effort
2009/04/09, 6:00 pm
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Mortgage servicing firms are polishing their collection pitches, as the Obama Administration foreclosure rescue program swings into high gear.

The program, which was announced in early March, is aimed at homeowners who are current on their mortgages but have been unable to refinance because of falling home prices. The mortgages must be backed by Fannie Mae and Freddie Mac.

Fannie Mae says it received “several thousand” applications on Monday, the day its computer systems began accepting applications.

Because the plan rewards mortgage servicing firms for each successful foreclosure rescue, it is creating a need for thousands of savvy employees at the servicing firms. The firms report that they are recruiting and training as fast as they can.

“You’ve got a situation in the industry where all of the trained, experienced collectors — the resolution consultants – anybody who’s out there with training, they’re hired. They’re sopped up,” Paul Koches, general counsel at servicing firm Ocwen Financial Corp., said. “There is an unprecedented demand. So we’ve got to go out there and find people who don’t have that training background.”

Source: Washington Post, Carrick Mollenkamp (04/08/2009)