mortgage modification | firsttuesday Journal

Form-of-the-Week: Agreement to Modify a Promissory Note, and Modification of the Promissory Note — Forms 426 and 425

by Amy Platero | Dec 7, 2023 | Finance, Forms, Loan Products, Mortgages, Real Estate | 0

These forms are used by a holder of a mortgage, their servicing agent or broker when arranging the modification of the mortgage note, to set forth the terms sought in the modification effort, to evidence the modification of the original note and state the change in terms of the note.

POLL: Of your buyers who take title subject to an existing mortgage, how often does the lender call the loan due or demand fees and modification of rates on an assumption?

by ft Editorial Staff | May 31, 2022 | Reader Polls, Real Estate | 0

This week’s poll asks readers to weigh in on all things existing mortgage. Share your experiences with us!

The coming surge in mortgage modification defaults

by Benjamin J. Smith | Jul 19, 2021 | Mortgages, Real Estate | 0

This article forecasts a surge in mortgage modifications in the wake of the coming expiration of foreclosure moratoriums — which will in turn lead to a rise in re-defaulting borrowers.

May a homeowner stop foreclosure proceedings resulting from a default caused by the owner’s participation in a forbearance agreement?

by Benjamin J. Smith | Oct 28, 2019 | Real Estate, Recent Case Decisions | 0

Moore v. Wells Fargo Bank, N.A. Facts: A homeowner who is unable to afford their monthly mortgage...

May a mortgage holder demand an owner pay portions of the mortgage deferred under a mortgage modification when the owner defaults on the modified mortgage?

by Benjamin J. Smith | Aug 19, 2019 | Real Estate, Recent Case Decisions | 0

Taniguchi v. Restoration Homes, Inc. Facts: A property owner defaults on their mortgage and their...

May a lender prevent a homeowner from curing a mortgage default outside of a mortgage modification?

by Oscar Alvarez | Jan 23, 2019 | Finance, Laws and Regulations, Real Estate, Recent Case Decisions | 1

Turner v. Seterus, Inc. Facts: A homeowner experiences financial difficulties after losing their...

Is a mortgage holder required to provide a single point of contact to a borrower seeking a mortgage modification?

by ft Editorial Staff | Apr 30, 2018 | Finance, Laws and Regulations, Real Estate, Recent Case Decisions | 0

Conroy v. Wells Fargo Bank, N.A. Facts: After refinancing a residential mortgage secured by a...

FHFA introduces overdue program for underwater homeowners

by Sarah Kolvas | Jul 18, 2016 | Finance, Real Estate | 0

See why the new principal reduction program is unlikely to help California homeowners.

Is an owner entitled to money losses for wrongful foreclosure caused by a misrepresentation made in a mortgage modification agreement?

by Amy Thomas | Jun 22, 2015 | Recent Case Decisions | 0

An owner enters into a permanent mortgage modification agreement with a mortgage holder. The mortgage holder issues a statement stating it will no longer honor the agreement.

Is a verbal agreement to postpone a sale enforceable against foreclosure?

by Amy Thomas | Jun 19, 2015 | Recent Case Decisions | 0

A homeowner and mortgage holder verbally agree to postpone a trustee’s sale while negotiating a mortgage modification.

Changing the terms of a mortgage

by ft Editorial Staff | Oct 7, 2014 | Feature Articles, Finance, Real Estate | 2

The basics of negotiating to modify the terms of a mortgage.

Pushing and shoving the banks into compliance

by Matthew Shade | Oct 16, 2013 | Real Estate | 0

On Wednesday, October 2, New York Attorney General, Eric Schneiderman, filed a lawsuit against Wells Fargo.

The reverse eminent domain saga continues…

by ft Editorial Staff | Sep 23, 2013 | Real Estate | 0

The city council in Richmond, California, is forging ahead with their reverse eminent domain...

Reports suggest FHFA killed cramdowns without cause

by Sarah Cantino | May 18, 2012 | Real Estate | 2

A recent letter from Congress to the Acting Director of the Federal Housing Finance Agency (FHFA)...

Mortgage modification showdown: Interest rate reductions v. Principal cramdowns

by ft Editorial Staff | Nov 11, 2010 | Feature Articles, Real Estate | 7

This article covers efficacy of mortgage modifications and why lenders are hesitant to grant them.

HAMP is losing participants

by ft Editorial Staff | Jul 7, 2010 | Real Estate | 9

The administration implemented the $75 billion Home Affordable Modification Program (HAMP) to lower a homeowner’s monthly mortgage payment by reducing their interest rates to as low as 2% for five years and extending the loan...