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Category Archives: Mortgage Modification

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Report: Homeowners Facing Foreclosure Get Little Help From HAMP

By Jacobs Legal |

The Home Affordable Modification Program, or HAMP, was introduced by the Obama Administration in 2009 as a lifeline for homeowners who were drowning. It was supposed to give some 4 million struggling homeowners the opportunity to hang on to their homes by offering them reduced monthly mortgages through loan modification. But according to a… Read More »

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Expensive Home Sales Skew Housing Market Figures

By Jacobs Legal |

When we talk about the housing market recovery, many sources cite small but steady growth. However, there is reason to believe those figures are skewed by the higher-end market – specifically, those homes belonging to the top one percent. A recent report by Redfin, a California-based real estate researcher, shows that while sales of… Read More »

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Working Poor Get Poorer, Top 0.1 Percent Get Richer

By Jacobs Legal |

Long-perpetuated is the belief that poor people deserve their station. If they had only studied more, worked harder, sacrificed a greater deal, they wouldn’t be where they are now. Of course, this view negates the very real fact that poverty is cyclical, and the divide between rich and poor has grown exponentially in recent… Read More »

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Report: 1 in 5 Homes Still Underwater

By Jacobs Legal |

For all the talk of economic improvements, it’s worth pointing out that, according to the latest figures from Zillow, 1 out of every 5 homes in the country is still underwater. These are homes where the owner has negative equity, meaning the borrower owes more on the mortgage than what the property is worth…. Read More »

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Miami Mortgage Modification: Principal Reduction Most Likely to be Successful

By Jacobs Legal |

A principal reduction is the most effective type of home loan modification in Miami and elsewhere, DSNews is reporting. Among three modification options — principal reduction, rate reduction or capitalization — a reduction in principal was the least likely to lead to re-default within 12 months, according to a report released by Amherst Securities…. Read More »

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Miami Loan Modification Attorneys Were Right: 1 in 3 Homeowners Still Underwater

By Jacobs Legal |

Despite all the talk about the economy turning a leaf, our Miami loan modification lawyers were right on the mark: Most U.S. homeowners are still drowning. Seeking a Miami loan modification is one life raft that homeowners can grab hold of. Those with Ocwen home loans in Miami are at a special advantage in… Read More »

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Miami Foreclosure Watch: Will Ocwen’s Loan Modification Program Work?

By Jacobs Legal |

Miami foreclosure attorneys have been closely following the developments with regard to Ocwen Loan Servicing’s updated approach to dealing with underwater mortgages. Many have been hailing Ocwen’s loan modification in Miami and across the country as a novel way of addressing the crisis. Our Miami loan modification attorneys have experience in handling Ocwen loan… Read More »

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Miami Foreclosure Attorneys Discuss Ocwen Loan Modifications

By Jacobs Legal |

Miami foreclosure attorneys know that there have always been alternatives to foreclosure, but it required a financial institution that was at least willing to try to work with you. For the last few years, it’s been tough to wrangle that kind of cooperation. But now, Ocwen Loan Servicing is formally rolling out its Shared… Read More »

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Ocwen Loan Servicing Discusses Miami Loan Modifications

By Jacobs Legal |

At a roundtable discussion that included officials from top federal agencies, Ocwen Loan Servicing discussed its efforts at mortgage loan modifications in Miami and beyond. Our Miami loan modification attorneys have negotiated several cases on behalf of clients whose loans were held by Ocwen, and were able to establish their principal payments at a… Read More »

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Ocwen Loan Modifications in Miami: Can Be Good Deal, Consult First With Attorney

By Jacobs Legal |

Ocwen loan modifications have been getting a great deal of media attention in recent weeks, and our Miami foreclosure attorneys wish to parse some of the details of why. First, if you are underwater on a loan that is serviced by Ocwen Loan Servicing and are trying to avoid a Miami foreclosure, you need… Read More »

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