According to records HAMP has failed at generating the initial guaranteed 3 to 4 million permanent loan modifications. Actually HAMP has surpassed its one millionth trial or permanent mortgage modification between June 2010 and July 2012. The Treasury reports that 770,834 borrowers either did not qualify for the program during that period, or failed to finish a 90 day trial. Additionally, 229,185 permanent modifications redefaulted after making the first three consecutive monthly payments…

Bank of America is Offering To Pay Off Second Mortgages?|Carson|  Leesa Hammond

As part of the National Mortgage Settlement, Bank of America announced on Friday that it is in the process of  mailing approximately 150,000 letters to their pre-qualified homeowners offering to cancel their second mortgage.  The intention of Bank of America is to help improve the financial position of the homeowner by decreasing their monthly payment obligations and potentially creating an equity…

Is a Loan Modification Right For You? | Carson | Short Sale | Leesa Hammond

Have the circumstances in your life changed whereby you can’t make the payments? Job layoffs, reduced hours which equates to reduce pay?  Now, you can’t afford your mortgage payments and you are desperate for a solution.

The interesting fact is the banks and the federal government would love for you to believe that a loan modification is the end all to put you back on track to stabilizing your…

Homeowner Tax Fairness Act | Short Sale | Carson | Leesa Hammond

Since 2007, homeowners whose banks have forgiven unpaid mortgage loan debt after a short sale, principal reduction or foreclosure have not had to count that money as income on their tax returns.

It’s meant savings of thousands of dollars on the so-called “phantom income” depending on the amount of debt canceled and a person’s tax bracket.

But the Mortgage Forgiveness Debt…

99% of Loan Modification Transfer Title…

The basic reality that needs to be understood by a homeowner is that when ANY paperwork is done on or for a loan modification there is a 99% chance that there will either be a short sale or a foreclosure.

The reason why?

Simple, other than the 1% that hit the lottery or the homeowner that gets a full rewrite or recast or alternatively a possible balance reduction on their existing loan terms, they won’t!

It is just basic…