Page 15 - Loan Modification News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Law, to qualify for a loan modification which they talked about, you have to skip payments. the banks say we can't consider you for a loan modification unless you stop paying. that's the advice, not if you stop paying we'll give you this. they're saying if you stop paying you can qualify. so there's a very fine line here. >> right but that's where the fraud comes in. i really do think it relates to what happened with the individual from chase at the bank itself that told them to skip a payment. i don't think chase soliciting them to refinance means anything or what happened at the end in terms...

Worth. it means they bought at a time when the market is different. what should those people do refinancing right now? >> the first thing they need to do is get an appraisal. they can do that a number of ways. they can go to a bank and work on a refinance loan, the process of going through that will include a bank appraisal. that may be a place to start. they can hire their appraise or. you can't refinance unless you're going tow bring in the cash to balance out so that the loan to value is not more than 100%. that is generally off the table. the owner is looking at a loan loan modification wh...

Smaller. where there were 20 people on board the commuter jet at the time. >> i was three seats back. the front of the airplane just went to the right like to this and no sound, no panic. >> the good news is nobody was hurt. >> yeah. >> bank of america and fannie mae foreclosing on a mom's home as she visited one of our nation's bravest soldiers at a military hospital in germany. her son was hurt serving with the army in iraq. she was in the middle of a loan modification. bank of america sent a letter she would finish the modification when she returned. instead, she said she found a for sale s...

Through those numbers as you have done, jenna, you realized they're talking about people that have begun loan modifications the permanent loan modification is much smaller. just over one in five homeowners who actually applied begin the process actually get a permanent reduction or permanent modification of their loanses. but what's happening now, the good news is that banks have tightened up their standards a little bit. and as a result of that they're giving out better loans. remember the old liar loans and teaser loans? this is back in the era of 2005, 6, 7, 8, that led up to the financial ...

Something about them. >> hi, this is lauren calling back in regards to your loan modification. >> i was just calling to let you know that i'll be in your area -- >> reporter: it is one of the most annoying aspects of modern life. >> those calls you used to get on your home phone, they'd call up and you'd be like hello, hello. >> reporter: youtube is brimming with complaints about those unsolicited inhuman phone calls. every night at dinnertime, marketers rev up their computers and dial countless numbers, ringing phones all over america. but after thousands of americans complained -- >> none of...