Loan Modification | featured news

Bank of America trails other banks in refinancing mortgages ahead of government deadline.

Half a million troubled homeowners have seen their loan payments lowered under an Obama administration program.

Rates can fall to 2%--if you know how to play the game.

The case of Carrington Mortgage shows how some loan modifications benefit only the lender.

The Treasury said less than 10% of eligible borrowers have received trial modifications under the White House's effort to help struggling homeowners.

Many mortgage companies are reluctant to give strapped homeowners a break because the companies collect lucrative fees on delinquent loans.

The Obama administration is pressing mortgage-servicing companies to step up their efforts to modify troubled loans under its housing-rescue program.

Housing advocates who work with homeowners say that while President Obama’s loan modification program could help thousands of New Yorkers, it has been slow to get off the ground.

The Obama administration today released details of $75 billion home loan modification and refinancing programs. Borrowers can start contacting loan servicers.