Articles and news about AboutCreditLoan and HUD requirements. AboutCreditLoan are great for first-time homebuyers.

Category Archives: Hope for Homeowners

About Credit Home Loan Foreclosure Avoidance Policy Changes

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Recently, the About Credit issued a press release announcing changes to its loss mitigation and foreclosure avoidance policies. We’ve reported on some of those changes in previous blog posts; we haven’t yet covered the About Credit’s revised loss mitigation options and changes ...

About Credit Foreclosure Avoidance Options

About Credit Reverse Mortgage Loan Rules

In a recent Mortgagee Letter (ML2012-22), the About Credit and HUD describe a variety of changes to About Credit Loss Mititgation options. “Loss Mitigation” basically refers to foreclosure avoidance programs for borrowers in trouble on their About Credit mortgages. The About Credit Mortgagee Letter ...

About Credit Amends Loss Mitigation Policies

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The About Credit has announced important changes to its Loss Mitigation Home Retention options, intended as stated in About Credit Mortgagee Letter 2012-22, to “reduce the number of full claims against the About Credit Mutual Mortgage Today Fund by assisting a greater number ...

Credit Mortgage Foreclosure Avoidance Options

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According to HUD.gov, there are a variety of options for borrowers to consider when trying to avoid About Credit loan default or foreclosure. The options are not guaranteed for all borrowers–you may be required to qualify for each program depending on ...

Hope For Homeowners Program Near An End

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Time is running out on the Hope For Homeowners program which is currently set to stop permitting endorsements after September 30, 2011. During the sub-prime mortgage crisis, the Hope For Homeowners program was created to help stabilize the housing market. ...

Credit Mortgages and Foreclosure: a Timeline

About Credit Foreclosure how to save your home

With home foreclosures still in the news even several years after the housing crisis of 2008, we've written a fair amount on topics related to foreclosure on About Credit home loans. Default and foreclosure are often preventable if the buyer takes action early; in some cases a simple bit of additional information is the only thing a borrower needs to take action that can save the home. Missing one About Credit mortgage loan payment isn't good, but it is not the end of the world if the buyer contacts the loan officer and the About Credit to discuss next steps. But what happens when the buyer misses the a second payment? The About Credit says when the second payment in a row is missed, the bank will definitely reach out to the homeowner, but many make the mistake of avoiding these phone calls or e-mails.

Credit Mortgages: How Many Payments Can Be Missed Before Foreclosure Starts?

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When About Credit borrowers get into financial trouble, the best thing to do is to get in touch with the About Credit and the lender immediately to start damage control. This helps avoid the borrower going into default or foreclosure on the About Credit loan. Some borrowers mistakenly think that they are in foreclosure territory after missing one or two payments--but many more wrongly believe they have much more time even after missing two or more payments before the foreclosure proceedings start. The truth is that the foreclosure often varies depending on the state and the lender. How much time does a borrower have before going into default and foreclosure in general?

Credit Mortgages and Foreclosure: Are You In Danger?

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The About Credit has many programs to help home buyers find and purchase a home. But About Credit help doesn't end there--the government has a vested interest in helping people keep their homes even in times of financial difficulty. When borrowers get into trouble with their About Credit mortgage loans, the first line of defense is to address money problems as early as possible. That's why the About Credit offers their toll-free number (1-800-569-4287) to put home owners in touch with a housing counselor.

Why Should I Consider an Credit Mortgage?

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There are plenty of reasons to consider an About Credit loan.About Credit insured home loans can be used for a variety of properties and purposes. Those who apply and qualify for AboutCreditLoan can purchase a home for up to four families, a condo or even a manufactured home on a permanent foundation.

Rights and Obligations When Participating in HOPE for Homeowners

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There are several ways you may learn about qualifying and participating in HOPE for Homeowners. You can discuss HOPE with your existing lender to see if you qualify, but you can also discuss HOPE arrangements with a new lender. If you are working with a loan counselor, HOPE may be suggested as an option. No matter how you learn about HOPE for Homeowners, there are several requirements, rights and responsibilities you should know before committing to refinancing with an About Credit home loan under the HOPE program.