http://www.loanmitigationadvocates.com The Path to Preserving your Home Ownership Wed, 22 Jun 2011 21:29:07 +0000 http://backend.userland.com/rss092 en On September 30, 2011, the high balance loan limits are set to expire.  Currently, for “high cost” areas, the high balance loan limit is set at $729,750.  This limit was originally established as part of the Economic Stimulus package of 2008. This amount will be adjusted down to $625,500 for ... http://www.loanmitigationadvocates.com/2011/06/high-balance-loan-limits-set-to-expire/ [caption id="attachment_250" align="alignnone" width="280" caption="Are you using a legit loan modification company?"][/caption] Here’s a big news flash for consumers.  Did you know that as of January 1, 2011 all companies performing Loan Modifications must have a Mortgage Loan Originator (MLO) endorsement in order to legally operate?  Prior to this, only a ... http://www.loanmitigationadvocates.com/2010/12/are-you-using-a-legal-loan-modification-company/ Bankrate.com  conducts a weekly national survey on the interest rates for the five most common consumer banking products.  Here’s the outcome for 11/18/2010: 30 Year Fixed Rate: 4.62 percent 15 Year Fixed Rate: 4.02 percent 5/1 ARM (Adjustable): 3.71 percent  According to the Mortgage Bankers Association: The financial markets globally have been impacted by a highly negative ... http://www.loanmitigationadvocates.com/2010/11/mortgage-rate-update-ending-111810/ Three months have passed since the tax credit expired, and the housing market does not appear to be showing signs of a speedy recovery. Inventory numbers are increasing and it appears that despite record low interest rates, demand is not robust.  The Tri-Valley area, the area in which we specialize ... http://www.loanmitigationadvocates.com/2010/09/trial-modification-success-think-again/ Bankrate.com  conducts a weekly national survey on the interest rates for the five most common consumer banking products.  Here’s the outcome for 8/19/2010: 30 Year Fixed Rate: 4.63 percent 30 Year Fixed Rate Jumbo: 5.26 percent 15 Year Fixed Rate: 4.11 percent 5/1 ARM (Adjustable): 3.95 percent 1 Year ARM (Adjustable): 4.80 percent  According to the Mortgage Bankers ... http://www.loanmitigationadvocates.com/2010/08/mortgage-rate-update-ending-8192010/ At Loan Modification Advocates, we have seen a steady increase in our ability to push loan modifications through to success.  The Treasury Department recently came out with statistics that showed more than 299,000 homeowners received permanent loan modifications as of last month. That equates to around 25% of the 1.2 ... http://www.loanmitigationadvocates.com/2010/05/are-loan-modification-success-stories-increasing-or-decreasing/ Bankrate.com conducts a weekly national survey on the interest rates for the five most common consumer banking products.  Here’s this week’s outcome: 30 Year Fixed Rate: 5.12 percent 30 Year Fixed Rate Jumbo: 5.94 percent 15 Year Fixed Rate: 4.49 percent 5/1 ARM (Adjustable): 4.31 percent 1 Year ARM (Adjustable): 4.91 percent  Mortgage applications rose. Applications for new purchases ... http://www.loanmitigationadvocates.com/2010/05/mortgage-rate-update-ending-050610/ At Loan Mitigation Advocates we take pride in trying to help our clients preserve their home ownership.  Loan modification is the preferred method to resolving a homeowner’s hardship.  However, there are times when someone’s situation cannot be resolved through loan modification and the only possible solution may be to short ... http://www.loanmitigationadvocates.com/2010/02/foreclosure-or-short-sale-complete-think-again/ Bankrate.com conducts a weekly national survey on the interest rates for the five most common consumer banking products.  Here’s this week’s outcome: 30 Year Fixed Rate: 5.15 percent 30 Year Fixed Rate Jumbo: 5.93 percent 15 Year Fixed Rate: 4.56 percent 5/1 ARM (Adjustable): 4.63 percent 1 Year ARM (Adjustable): 4.92 percent  Mortgage applications rose compared to a ... http://www.loanmitigationadvocates.com/2010/01/mortgage-rate-update-ending-012010/ The government is not happy with the results from its foreclosure-prevention efforts.  Mortgage companies are not doing enough to help homeowners avoid losing their homes.  The Obama administration has vowed to spend the next several weeks to increase the pressure on the mortgage industry. In a recent Associated Press article on ... http://www.loanmitigationadvocates.com/2009/12/mortgage-industry-to-receive-pressure-from-the-obama-administration/