Page 23 - Loan Modification News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Yet again. you can see this one coming. look, if somebody doesn't have a job, renegotiating their mortgage isn't going to help. they won't be able to pay the mortgage no matter what. >> reporter: that is absolutely right, gregg. experts say any drop in foreclosures is positive, but the recent dip should not be seen as a trend. the new figures called the reality trap, let's say the one month figure doesn't show the data. people losing jobs and many desperate homeowners are struggling through loan modifications which experts say adds up to a short term solution for a problem that is overreaching...

Compared to the previous month. while it is always good to see foreclosures go down, there is a bit of a black cloud nearby. this one month figure really doesn't speak to the rough days expected to come. that's according to experts who say the evidence shows that banks are just working through a large backlog of foreclosures. >> like the analogy of a pig and a python. the banks are currently trying to clean up what they swallowed a year ago, trying to get all of those properties processed and back into the marketplace. but there is a much bigger pig yet to be swallowed and that is the 5 millio...

So all the changes in the mortgage and health insurance industries have many of you looking for answers. cnn's help desk is the place to turn. here's our stephanie elam in new york. >> time now for the help desk where we get you answers to your financial questions. joining me this hour, greg mcbride, senior financial analyst for bankrate.com and jack goddard of moneywatch.com. gentlemen, first question comes in from david wholies in, i have never missed a mortgagor credit card payment in my life and i am having trouble modify anything loans with my mortgage lenders. they also told me i would n...

Was 164,300 that really only takes your mortgage from 853, so the sky is not falling. the big question is, how far are rates going to go up. >> kelly: exactly. and mike, as you know, a lot of people are looking at that saying, well, look, if they're inching upwards now what's going to happen when i go out there to buy and furthermore what's happening to the seller. your best advice to the seller, the buyer and perhaps the person on the brink of foreclosure and the person upside down in their home? >> well, i think the advice continues to be let's take the person first that is in trouble. that ...

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