2

Foreclosure Defense and Loan Modification Blog

UPDATE: Fannie Mae to Allow Principal Reducing Loan Modifications

Posted by Maxwell Swinney

Tuesday, April 19, 2016

Fannie Mae has announced the Fannie Mae Principal Reduction Modification Program to "assist seriously delinquent underwater borrowers to recover from home value depreciation experienced as a result of the housing crisis."We posted a blog yesterday stating that loan modifications that reduced principal for borrowers with loans insured by Fannie Mae and Freddie Mac were being considered by their regulator, the Federal Housing Finance Authority (FHFA). Since then, Fannie Mae has announced the Fannie Mae Principal Reduction Modification Program. According to their website:

Read More

Topics: loan modification, negative equity, fannie mae

What Does It Mean to Have Negative Equity in Your Home?

Posted by Maxwell Swinney

Wednesday, March 2, 2016

Home equity is how much more your home is worth than what you owe on it. Negative equity, also called being underwater or upside down, means you owe more on your mortgage loan than the home is worth. The value of a home changes based on things like supply and demand for real estate and the health of the economy.

Obviously everyone wants equity in their home. If you have enough, you have the option of selling your home for a profit. Negative equity is bad and most homeowners never anticipated having it.

Read More

Topics: loan modification, negative equity, underwater

Your Home Is Underwater, What Can You Do About It?

Posted by Maxwell Swinney

Tuesday, January 26, 2016

 

The rate of American homeowners with negative equity fell to 13.4% in the third quarter of 2015, according to real estate company Zillow. That's down one percentage point from the second quarter of 2015 and represents the 14th consecutive quarter of falling negative equity rates.

 

It's good news that the positive trend continues, but millions of homeowners remain in negative equity and in need of a solution.

Negative equity is also called being underwater or upside down, and it means that the market value of your home is less than the amount you owe on the loan. That means the home can't be sold unless you pay the difference between the home's sale price and what you owe on the loan. If you don't have that much cash, you're stuck in the home.

Read More

Topics: negative equity, underwater

Number of Homes Underwater Drops, but Still a Huge Problem

Posted by Maxwell Swinney

Wednesday, December 2, 2015

The percentage of Americans with negative equity in their homes, also known as being underwater, continued to fall in the second quarter of 2015 to 14.4%, according to a report from the real estate company Zillow. The rate of homeowners with negative equity has been dropping since the first quarter of 2012 when a high of 31.4% of homeowners were underwater. 

Read More

Topics: loan modification, housing market, negative equity

About this Blog

Amerihope Alliance Legal Services is a leading loan modification and foreclosure defense law firm with attorneys licensed in 5 states. We have helped over 7,000 homeowners fight back and keep their homes.

Click to Read Our Super Loan Mod Success Stories

Our goal is to provide valuable information to help homeowners who are trying to obtain a loan modification or to stop foreclosure. You may schedule a free consultation at any time.

Quick Answers

Do You Need To Hire A Foreclosure Attorney? Take Our 2-Minute Quiz

2015 Guide to Loan Modification

New Call-to-action 

Most Popular Articles

Downloads

Checklist of Loan Modification Documents

Guide: How to Write a  Hardship Letter  for Loan Modification

Posts by Topic

see all

Subscribe to Email Updates

Foreclosure Process Handbook

IL-foreclosure-attorney-mapDownload Your Illinois  Foreclosure Process Handbook

 

 

florida-small Download Your Florida  Foreclosure Process Handbook

 

 

new-jersey-map-smallDownload New Jersey  Foreclosure Process Handbook

 

 

New-York-SmallDownload New York  Foreclosure Process Handbook

 

 

pennsylvania-sm-attorneyDownload Pennsylvania  Foreclosure Process Handbook