Homeowner is "Unlogged" by Bank of America/Countrywide

When does it end. In a previous post at debthelp.tv I wrote about America's Servicing Company aka Wells Fargo's home retention representative refusing to let a homeowner pre-qualify for a federal government approved modification program. This time, a homeowner was "unlogged"Recently, I was asked to assist a friend with a Countrywide/Bank of America home loan modification. With my assistance, Mike (name changed for security) was approved for a 3 month pre-trial home loan modification under the Making Homes Affordable aka Home Affordable Modification Plan aka HAMP. The HAMP program let’s homeowners enter into a temporary 3 month lower payment trial period. During the trial period the homeowner sends the lender the required financial documentation in order to get a permanent modification. The...

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Accidental Landlord's : A Good Solution For Tough Times

People all over are looking for ways to survive during this economic crunch. What can property owners do if they can't sell their house? They can rent out the house or rooms in the house. Often these homeowner, now accidental landlords, end up moving into a cheap apartment while there home is rented. Time magazine has a good introductory article on this phenomenon. The author notes that this can save homeowners' in a cash crunch. Even though being a landlord is not an easy path, in times like this it can make perfect sense.Our future posts will talk more about Accidental Landlords and give tips for the best strategies. Read the entire article here: Accidental Landlords: Renting What Won't S...

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