Download or read book Homeownership Preservation Federal Efforts to Combat Foreclosure Rescue Schemes are Underway but Improved Planning Elements Could Enhance Progress written by and published by DIANE Publishing. This book was released on with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Homeownership Preservation written by U.s. Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-08-11 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most devastating aspects of the current financial crisis for homeowners is the prospect of losing their homes to foreclosure, and many homeowners have fallen victim to foreclosure rescue and loan modification schemes. In 2009, the administration created the Financial Fraud Enforcement Task Force (FFETF), which is led by the Department of Justice (DOJ), to combat these and other financial crimes. This report examines (1) the nature and prevalence of these schemes, (2) federal efforts coordinated to combat these schemes and other major efforts, and (3) factors that may affect federal efforts success in combating these schemes. To address these objectives, GAO obtained information from federal agencies participating in the FFETF and interviewed representatives of five states with high exposure to potential foreclosures and nonprofit organizations undertaking related activities.
Download or read book Homeownership Preservation Federal Efforts to Combat Foreclosure Rescue Schemes Are Under Way But Improved Planning Elements Could Enhance Progress written by United States. Government Accountability Office and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Homeownership preservation written by United States. Government Accountability Office and published by . This book was released on 2010 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Preserving Home Ownership written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Foreclosure Rescue Schemes and Federal Efforts to Address Them written by Donald M. Joslin and published by Nova Science Publishers. This book was released on 2014-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In July 2010, GAO reported on federal efforts to combat foreclosure rescue schemes - schemes that promise but do not deliver foreclosure prevention assistance. Subsequently, the Dodd-Frank Wall Street Reform and Consumer Protection Act required GAO to study interagency efforts to crack down on these schemes. This book updates GAOs 2010 report and examines the available information about the prevalence and nature of foreclosure rescue schemes, and the status and scope of the federal governments multi-agency effort and other major initiatives to combat them.
Download or read book Foreclosure Assistance Packet written by U. S. U.S. Congress and published by CreateSpace. This book was released on 2015-04-17 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The foreclosure rate in the United States has been rising rapidly since the middle of 2006. Losing a home to foreclosure can hurt homeowners in many ways; for example, homeowners who have been through a foreclosure may have difficulty finding a new place to live or obtaining a loan in the future. Furthermore, concentrated foreclosures can drag down nearby home prices, and large numbers of abandoned properties can negatively affect communities. Finally, the increase in foreclosures may destabilize the housing market, which could in turn negatively impact the economy as a whole. Because of the many negative consequences associated with rising foreclosure rates, there is a broad consensus that the government should explore efforts to prevent further increases in foreclosures and help more families preserve homeownership. Several federal, state, and local foreclosure prevention initiatives have been launched to date These programs include the expired FHA Secure program and the Hope for Homeowners program, both of which allowed troubled borrowers to refinance their loans into new mortgages backed by the Federal Housing Administration (FHA); a loan modification program set up by Fannie Mae and Freddie Mac for mortgages held by those institutions; and a program put in place by the Federal Deposit Insurance Corporation (FDIC) to help troubled borrowers with loans that had been owned by IndyMac Bank before it was taken over by the FDIC. Several states and localities have initiated their own foreclosure prevention efforts, as have private companies including Bank of America, JP Morgan Chase, and Citigroup. A voluntary alliance of mortgage lenders, servicers, investors, and housing counselors has also formed the HOPE NOW Alliance to reach out to troubled borrowers. On February 18, 2009, President Obama announced the Homeowner Affordability and Stability plan, which aims to modify the loans of borrowers who are in danger of default or foreclosure. On February 23, 2009, Representative John Conyers introduced H.R. 1106, the Helping Families Save Their Homes Act of 2009. This bill would make changes to the Hope for Homeowners program, amend bankruptcy law to allow judges to modify mortgages on primary residences, and establish a safe harbor for servicers who engage in certain loan modifications. While many observers agree that more needs to be done to prevent foreclosures, there are several challenges associated with foreclosure mitigation plans. These challenges include implementation issues, such as deciding who has the authority to make mortgage modifications, developing the capacity to complete widespread modifications, and assessing the possibility that homeowners with modified loans will nevertheless default again in the future. Other challenges are related to the perception of fairness, the problem of inadvertently providing incentives for borrowers to default, and the possibility of setting an unwanted precedent for future mortgage lending. This report describes the consequences of foreclosure on homeowners, outlines recent foreclosure prevention plans implemented by the government and private organizations, and discusses the challenges associated with foreclosure prevention.
Download or read book Foreclosure Prevention and Intervention written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 2008 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Preserving Homeownership written by Katie Jones and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This report describes the consequences of foreclosure on homeowners, outlines recent foreclosure prevention plans implemented by the government and private organizations, and discusses the challenges associated with foreclosure prevention.
Download or read book Helping Homeowners Harmed by Foreclosures written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Housing, Transportation, and Community Development and published by . This book was released on 2013 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Help for Homeowners Facing Foreclosure written by sylvia black and published by Sylvia Black. This book was released on 2020-01-28 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you have been laid off or are facing unemployment, you can keep your home - - if you know the right steps to take. If your family is facing any of these changes and cannot pay your bills, now is the time to look closely at what you owe and what you earn, eliminating unnecessary spending and reaching out for help if you still cannot meet your financial obligations. Taking action now can help you protect your family from the loss of your home. And Affordable Homes and Apartments can help. First and foremost, if you can keep your mortgage current, do so. However, if you find that you are unable to make your mortgage payments, you may qualify for programs that you may not know about. Even for the unemployed and senior citizerns and those with bad credit may qualify for many of these programs never before thought of. This book will give you information you need to help you save your home from foreclosure. The information contained herein is for informational purposes only and Affordable Homes and Apartments cannot guarantee approval of any program listed herein. The sooner you call; the sooner help is available. We buy houses for cash. so if you haven't been able to get the help you need or want give Affordable Homes and Apartments a call we may be able to purchase your home and help you save your home and your credit. The contents of this book are being provided for informational purposes only. It is not intended to provide legal advice and should not substitute for the advice of an experienced real estate attorney. Also, the links and references to web sites and organizations are provided for informational purposes only. Affordable Homes and Apartments do not endorse any specific organization or web site and does not suggest that one source should be utilized to the exclusion of another and cannot guarantee approval.
Download or read book Single Family Housing written by Davi M. D'Agostino and published by DIANE Publishing. This book was released on 2002-02 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses opportunities to reduce the time necessary to sell foreclosed properties & minimize costs to the Fed. gov't. Fed. programs in HUD, the FHA, the VA, & the USDAs Rural Housing Service promote mortgage financing. Congress has also chartered Fannie Mae & Freddie Mac to facilitate mortgage lending & to promote homeownership opportunities. This report: provides an overview of the foreclosure process as estab. by state laws & org. procedures; compares & contrasts the org's' approaches to managing, selling & establishing title to foreclosed properties; & provides comparative data on the time that it takes the org. to acquire & sell foreclosed properties & describe potential reasons for any differences in these time frames. Illus.
Download or read book Strengthening Our Economy written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Preserving Home Ownership written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Preserving Homeownership written by and published by . This book was released on 2016 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Preserving Home Ownership written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Foreclosure Mitigation written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-01-05 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foreclosure Mitigation: Agencies Could Improve Effectiveness of Federal Efforts with Additional Data Collection and Analysis
