HUD: Robo-signing settlement to accelerate principal reductions

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HUD: Robo-signing settlement to accelerate principal reductions NEW YORK (CNNMoney) – Bank of America will significantly slash mortgage balances for as many as 200,000 borrowers. As part of the billion settlement reached between the five major mortgage.

HUD: Robo-signing settlement to accelerate principal reductions HR 1856 hud: robo-signing settlement to accelerate principal reductions Because of the complexity of the mortgage market and this agreement, which will span a three-year period, in some cases Ocwen will contact borrowers directly regarding principal reductions. However, borrowers should contact Ocwen to obtain more information about principal reductions and whether they qualify under terms of this settlement.Tax preparation.

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[ad#inman-news] By Inman News: The government’s $25 billion settlement with the nation’s five biggest mortgage servicers over so-called "robo-signing" practices could boost short sales, as loan.

 · If a loan modification, including principal reduction, is projected to cost the creditor or investor less than foreclosure, the creditor will earn more on that loan. In other words, this.

Robo-Signing Mortgage Fraud Lawsuit Results in a Quiet Title & Mortgage Free House HUD secretary says some homeowners received $100K+ in principal reductions By Justin T. Hilley May 8, 2012 12:12pm Some families living in the most deeply underwater states such as Nevada and California are receiving principal reductions exceeding $100,000 from the mortgage servicing settlement, Department of Housing and urban development secretary shaun Donovan said before [.]

 · The Notice of Intent to Accelerate is warning you that’s what will happen if you don’t “cure the default” within a certain amount of time. But it also tells you that you have the right to cure the default and avoid acceleration and foreclosure by reinstating your loan by paying them for all your missed payments, plus fees .

 · Servicers will “only receive credit for the portion of the principal reduction that they themselves pay for, not for the portion covered by incentives in the program,” HUD said.

New Initiatives Connect Homeowners to Foreclosure Prevention Programs. Written by: admin.. expanded principal reduction through the national mortgage settlement and tripled principal reduction incentives in. and experts to solicit ideas on how to accelerate the housing recovery and help.

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