950,000 Mortgages Modified
Hope Now, an alliance of mortgage servicers, counselors and investors, said this week that the mortgage industry completed nearly 950,000 mortgage modifications in 2008.
But there are questions lingering about just how effective those modifications have been: A separate report from the Office of the Comptroller of the Currency and the Office of Thrift Supervision found [...]
Maryland program to stave off foreclosures
Homeowners fearful of losing their homes because of looming defaults and foreclosures could get help through a new state initiative.
Called Homeowners Preserving Equity, the HOPE program offers a commitment of $100 million in private capital to help about 500 homeowners to refinance and switch adjustable-rate mortgages to fixed-rate mortgages.
The state also plans to use $10 [...]
