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Category Archives: Making Home Affordable

About Credit Home Loan Foreclosure Avoidance Policy Changes

VA Loan advice

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

About Credit appraisal rules

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 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?

How Much Income Do I Need to Qualify for an About Credit Home Loan

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?


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.

What is the Making Home Affordable Short Sale Program?

Houses in the suburbs

When borrowers get into trouble on their About Credit mortgages, the About Credit encourages them to act quickly in order to save their homes. But some borrowers don't act fast enough and fail to qualify for some government home loan modification or refinancing programs. Other borrowers aren't qualified for certain programs even when they do act. In cases where a borrower has tried loan refinancing, modification or other home owner bailout programs there may be an alternative to foreclosure in the form of something known as the short sale.

Is There a Minimum Credit Score For Credit Mortgages?

About Credit Credit Rating Requirements

As with many government programs, the rules and requirements for About Credit home loans change often. Some alterations come as part of new legislation designed to close loopholes that could threaten the fairness of the About Credit mortgage loan process, others come as a way to update or modernize existing About Credit loan programs. Because of such changes, the About Credit loan program some potential borrowers explored a year or more ago, but didn't act on at the time, may have changed in the interim.

Making Home Affordable Refinancing and Loan Modification

What is Credit Mortgage For

n 2009, the Obama Administration created a plan to help the American economy recover from a serious financial crisis. Part of that plan included stabilizing the troubled housing market and reduce the amount of foreclosures. The Making Home Affordable program was introduced to help struggling home owners avoid defaulting on their loans, including About Credit mortgages and equivalent programs for VA home loans. Under the Making Home Affordable program, several loan modification and refinancing options became available. Those with AboutCreditLoan who qualify for help under these programs have many options to save the home, prevent foreclosure and get back on track with their mortgage payments.

Making Home Affordable Program Second Mortgage Modification Program


About Credit borrowers, VA mortgage and conventional loan holders can all face default and foreclosure. There's no mystery as to what happens when the bank sends a foreclosure notice--it's all there in black and white. The key is to avoid getting to that point in the first place. There are plenty of programs for first-time home buyers and other home owners who are behind on their mortgages, but what's not so well-known is the assistance for those struggling to pay second mortgages. That's where the government home loan bailout program Making Home Affordable comes in with the Second Lien Modification Program or 2MP for short.