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We publish blog articles that gives the nation and the world helpful resources, tips, how to's, trends, and best practices related to housing, foreclosure, real estate, short sales, loan modifications, mortgages, formulas, and so much more.

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Gov. Mortgage Relief Programs End Soon! What’s Next? [My Opinion]

Michael Nolen, Founder, CEO August 10, 2016 at 12:01 PM

Since the collapse of the US housing bubble in 2008, many homeowners have faced the trauma of foreclosure. As an alternative, the government created mortgage assistance programs. While the US housing market has been recovering, many homeowners still find themselves in difficult financial positions. Many are on the verge of delinquency, and some still struggling to get mortgage help.

Is an mortgage help soon to be limited or maybe coming to an end? Is it possible lenders may soon limit loan modification, short sale or deed in lieu of foreclosure programs they offer?

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Tagged Short Sale, Loan Modification, Deed in Lieu of Foreclosure, HAMP, Foreclosure, Making Home Affordable

Hundreds of Mortgage Relief and Debt Relief Operations Banned by FTC

Michael Nolen, Founder, CEO May 26, 2016 at 2:54 PM

On May 25, 2016, attorney's for the FTC's Division of Financial Protection published an announced of the FTC's list of hundreds of companies and people that they put a sequel on their misleading operations.

In this post, we'll share insight about the Federal Trade Commission's publication and some tips for shopping for a mortgage relief or debt relief company.

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Tagged Short Sale, Loan Modification, Deed in Lieu of Foreclosure, Mortgages, Foreclosure, Credit Reporting, Federal Trade Commission

The Home Value Almost Failed an Ocwen Loan Modification?

Michael Nolen, Founder, CEO May 6, 2016 at 2:31 PM

During the process of a recent mortgage assistance request with the Ocwen loan modification department, Ocwen ordered an assessment of the property to get the homeowner's home value using a broker price opinion, BPO for short.

Ocwen determined $5,000 in equity, and denied the application. The homeowner reapplied, and was approved with a $50,000 principal reduction.

In this post, I'll share this homeowners story attempting to get mortgage assistance from Ocwen Loan Servicing.

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Tagged Loan Modification, Ocwen Loan Servicing, Broker Price Opinions, Loan Modification Denied, What Next?, What Is My Home Worth?

Why We Love FHA Loan Modifications (and You Should Too!)

Michael Nolen, Founder, CEO May 6, 2016 at 2:02 PM

You may be wondering why we love a FHA loan modification programs? What's the benefit? It may seems like mortgage lenders are difficult to work with for any mortgage assistance option, so how could we possibly love it. We'll we do!

It's because FHA loan modifications can be more predictable than many other programs if you know how the program and the process works! In this post, I explain some of the key benefits behind FHA programs and why we love them!

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Tagged Loan Modification, FHA Loan Modifications

Fannie Mae to Securitize Past Non Performing Loans

Michael Nolen, Founder, CEO April 26, 2016 at 9:28 PM

Just 11 days after the Federal Housing Finance Agency announcement of the New Principal Reduction Loan Modification Program for eligible Freddie Mac and Fannie Mae mortgages, Fannie Mae announced another plan.

Now, Fannie Mae plans to begin securitizing reperforming loans, which will give them options, and may reduce the size of their mortgage portfolio. Borrowers that became current on their monthly mortgage payments with or without a mortgage loan modification program, have stabilized Fannie Mae's investment, and in return may be sold to new investors.

Securitization of Fannie Mae's reperforming mortgage loans is expected to begin in the second half of 2016.

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Tagged Loan Modification, Mortgages, Fannie Mae, Federal Housing Finance Agency

Question: Can You Get a Loan Modification After Assignment of Trust?

Michael Nolen, Founder, CEO April 25, 2016 at 12:04 PM

Recently, a Delmarva Home relief Blog subscriber asked us, “Must the loan servicer get permission from an assignment from the trust to get a loan modification”.

In this post, I’ll explain what an assignment of trust is when you have a mortgage loan, and getting a mortgage modification after your deed in sold to another mortgage investor in the secondary market.

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Tagged Loan Modification, Subscriber Questions

Question: Can I Get a Loan Modification on a Rental Property?

Michael Nolen, Founder, CEO April 22, 2016 at 12:00 PM

Recently, we were asked a question from a Delmarva Home Relief blog subscriber if you could get a loan modification on a rental property. Simply, yes you can!

In this post, I'll answer our subscribers question and provide some tips for applying for a mortgage modification program when you own a rental property.

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Tagged Loan Modification, Subscriber Questions

New 2016 FHFA Loan Modification Gives Principal Reduction!

Michael Nolen, Founder, CEO April 20, 2016 at 1:00 PM

The Federal Housing Finance Agency (FHFA) announced on April 14, 2016 new Freddie Mac and Fannie Mae loan modification guidelines for mortgages owned or guaranteed by Freddie Mac or Fannie Mae.

This one time Freddie Mac and Fannie Mae loan modification program gives eligible borrowers a principal reduction on their underwater loan and a last opportunity to avoid foreclosure before government programs expire in 2016.

In this post, I share details about this new principal reduction modification program.

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Tagged Short Sale, Loan Modification, Deed in Lieu of Foreclosure

Disabled Woment Fights for Loan Modification in Salisbury, MD!

Michael Nolen, Founder, CEO April 19, 2016 at 3:57 PM

On Monday, April 19th, Michael Nolen of Delmarva Home Relief was contacted by the Daily Times for an article about a disabled women in Salisbury, MD fighting to keep her home and information about foreclosures in Maryland and the home loan modification process. 

Many homeowners still are having trouble getting through the process. You can read more about Salisbury, MD resident, Joana Weaver and here fight to keep the only home she has ever known and ever wants to know in this blog post.

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Tagged Short Sale, Loan Modification, Deed in Lieu of Foreclosure, Salisbury MD Real Estate, Maryland Foreclosure Process

Loan Modification Before Short Sale: 5 Things You Need to Know!

Michael Nolen, Founder, CEO April 5, 2016 at 1:00 PM

Many homeowners don’t realize that before applying for a short sale, you may need to apply for a loan modification. You may not have any choice depending on your mortgage investor, financial hardship, and a variety of other factors. If you, your real estate agent, or negotiator ignores it, you could add a few extra months to your review.

In this post, I’ll explain the 5 most common reasons a homeowner may be reviewed for a home retention option before a non retention option, and best practices to prepare for a mortgage assistance application and avoiding common delays.

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Tagged Loss Mitigation, Short Sale, Loan Modification, Foreclosure Alternatives

Top 5 Readers Blog Picks for March 2016

Michael Nolen, Founder, CEO April 4, 2016 at 1:00 PM

Delmarva Home Relief's Blog is all about educating our readers and the world about topics related to housing and finance. In March, we published over 30 new topics. From helpful first time home buyer tips to comparing the differences between government and lender specific in house loan modification programs, our readers choose these 5 blog articles as the most interesting and helpful.

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Tagged Loan Modification, Real Estate, Mortgages, Buying a Home, Buying a Condo, Renting Vs Buying a Home, What Is My Home Worth?, Credit Reporting

What is a Loan Forbearance with a Loan Modification? [FAQ]

Michael Nolen, Founder, CEO March 30, 2016 at 9:00 AM

Since your financial hardship started, you’ve been gathering all of the possible options and programs that could help you get a more affordable mortgage payment or stop a foreclosure sale.

Many mortgage lenders send letters letting you know that you can apply for a mortgage modification and they include a list of possible options, like government modification programs, lender specific programs, repayment plans and other agreements.

You may be asking yourself, "What is a forbearance agreement and how does it work?" If you apply for a loan modification, you may be offered this type of agreement.

In this post, I’ll help you better understand this temporary agreement that could help you with your financial hardship.

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Tagged Loss Mitigation, Loan Modification, Foreclosure Alternatives

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