Yesterday Freddie Mac released a fixed rate mortgage report witch shows slight increase in it. prompting further hope of a recovery.This week thirty year fixed rate mortgages were up by .02 percent , while 15 -year mortgages climb up by .01 percent.
All expert believe that thiscould prompt a rise in mortgage applications, as consumers start to believe in market to take out new credit. However ,borrowers are are still warned to make mortgage – related decision with care. They explained more on that the rise could prompt many homeowners to refinance or take out new loans, which could slow down the application process.
Many lenders are also retightening their policies, requiring more documentation to guard against unstable borrowers. President Obama’s $50-billion mortgage aid program, which was recently expanded to include foreclosure prevention measures, is also expected to boost the lending market.
According to the Associated Press, the new measures will make it easier to sell homes with values lower than the mortgage, and to transfer homeownership to the lender.
For more information on mortgage modification, mortgage loan modification click here
Loss Mitigation & Mortgage Loan Modification Attorney Blog 
May 20, 2009 at 11:05 pm
Helpful tip!
Anyone who needs assistance with Loan Modifications or Bankruptcy.
Associates are composed of legal and real estate professionals who will analyze your financial situation and find a solution for you! I hear that they are very quick and really do help steer you in the right direction.
June 6, 2009 at 6:07 pm
Very pleased to here that mortgage modification is on the rise.
January 15, 2010 at 7:55 pm
In order to achieve a home mortgage loan modification, you will need to meet certain criteria. Thankfully, these criteria are not outrageous or very difficult to attain.
You can qualify even if:
– You have the Notice of default. You can stop your foreclosure.
– You have the date of the Trustee Sale. You can stop the sale.
– You have primary residence, second home, investment property, land or commercial property. ( Yes, you can modify your loan for these properties as well )
– You are NOT behind your current mortgage!
You can qualify if you have bad credit or no credit at all, your home lost all of its equity, you locked into an interest only mortgage or if you are currently dealing with financial hardship.
Contact with a professional to see your options. There are many, many ways to save your home at this moment.
I hope it helps.