I have a dream - that someday all foreclosure will be reversed

Okay, the title got you right?   Well that dream is true and I am working hard with others to make it a reality! There so many people from the "Show me the Loan" group,  the auditors, lawyers, bankruptcy help group and other groups -   fighting  the rampant fraud across America. .  Hopefully by having up to date news, support groups, information share and referrals to expert help that "gets it" - we will be one step closer to reversal of all mortgage fraud and wrongful foreclosures. 

I have a twitwall and it is very useful for some things.  IN it I can promote articles that you all like and that are helpful to others.  I can track responses and group topics. 

This week I noticed that the articles I thought would be the most popular such as "Donald Trump and The Apprentice Talk Recession" or "Real Housewives Talk Foreclosure" - well those were not the most popular topics.  I put together a report gathered from stats on the blog and on shortening links as well as responses from twitter.  To me it was very surprising.   People are hungry for news. Especially if that news is affecting their personal live right now. 

Here are the 5 most visited blogposts by page view -  visited this last week!  They were not necessarily the ones that earned the most money, but apparently they were the most useful to people. 

Voided Deed of Trust: Cow and Tail - Moo! Sep 16, 2010 BIG BANK BACKS DOWN--FOR NOW; HALTS FORECLOSURE ON... Sep 14, 2010 Deeds of Trust -Invalid without Seal? Sep 12, 2010 POVERTY ? Speak for yourself Sep 16, 2010 Video report : 50% of Valley homes underwater WHAT topics do you want to see on the blog?  What will help you with talking to the neighbors or fighting your case?I have articles ranging for what to do in court, how to prepare for foreclosure to updates on our personal fight as well as news.   What do you want to see covered?

Brand new today SEPT 8 2010 New FHA Mortgage Refinance Program Aimed at 11 Million Homeowners Underwater - Real Estate Channel Global News Center

New FHA Mortgage Refinance Program Aimed at 11 Million Homeowners Underwater - Real Estate Channel Global News Center: "About 1.5 million of the 11 million U.S. homeowners who owe more on their mortgage than their home is worth could be catching a break shortly.

A new Federal Home Administration refinance program kicked off Tuesday, Sept.7.

The government has earmarked $14 billion in Troubled Asset Relief Program (TARP) funds to support the program.

The latest data from CoreLogic shows that some 11 million borrowers were in a negative equity position as of the end of June, reports DSNews.com. That equates to 23 percent of all U.S. residential properties with a mortgage."

To facilitate the refinancing of new FHA-insured loans under the program, the U.S. Department of Treasury says it will provide incentives to existing second lien holders who agree to "full or partial extinguishments" of the liens.

NOTE::: I Hope this helps more than their last help program for underwater homeowners. CHECK IT OUT FAST


photo credit: sxc.hu

FHA LAUNCHES SHORT REFI OPPORTUNITY FOR UNDERWATER HOMEOWNERS

HUDNo.10-173/U.S. Department of Housing and Urban Development (HUD): "The FHA Short Refinance option is targeted to help people who owe more on their mortgage than their home is worth - or 'underwater' - because their local markets saw large declines in home values. Originally announced in March, these changes and other programs that have been put in place will help the Administration meet its goal of stabilizing housing markets by offering a second chance to up to 3 to 4 million struggling homeowners through the end of 2012.

'We're throwing a life line out to those families who are current on their mortgage and are experiencing financial hardships because property values in their community have declined,' said FHA Commissioner David H. Stevens. 'This is another tool to help overcome the negative equity problem facing many responsible homeowners who are looking to refinance into a safer, more secure mortgage product.'

Today, FHA published a mortgagee letter to provide guidance to lenders on how to implement this new enhancement. Participation in FHA's refinance program is voluntary and requires the consent of all lien holders. To be eligible for a new loan, the homeowner must owe more on their mortgage than their home is worth and be current on their existing mortgage. The homeowner must qualify for the new loan under standard FHA underwriting requirements and have a cre------">>>>>>>> READ MORE

Modification good news maybe? Look to the future

Please retweet this blogpost if you find it helpful in learning about government mortgage homeownership and bank loan modifications

Mortgage modifications offer a bit of good news in the dour foreclosure market:

"The report said recent modifications that reduce principal balances on loans have a lower default rate than those that merely cut the interest component of monthly payments.

But most banks don't trim the overall balance when they modify loans, according to the report. Only one in five modifications reduced the loan amount, with 70 percent of those studied in this year's first quarter actually increasing the total by adding service charges and late payments to the loan balance, the report said.

However, through adjustments of interest rates, about 89 percent of first-quarter modifications involved some reduction in monthly payments, the report said. Nearly 78 percent cut payments 10 percent or more.

But the absence of loan-balance reduction in most modifications will hamper future foreclosure prevention efforts, the report said. The authors noted that home prices have declined more than 30 percent from their 2006 peak, and nearly one-quarter of homeowners owe more than their homes are worth."

READ ENTIRE ARTICLE BY CLICKING TITLE LINK:

EDITOR NOTE: Banks are opposed and rarely reduce the principle. Up until recently there has been MAJOR opposition to reducing principle. In Arizona many property values are at 1/4 of what they were in 2006. There are new programs that have about a 20% success rate in lowering the principle without going through bankruptcy. The qualifications are high and I will be blogging on the newer programs very soon.

Until then here are the rankings for underwater and drowning homeowners according to Corelogic!

Top 10 states with highest share of negative equity mortgages
1. Nevada (68 percent of 592,000 mortgages)
2. Arizona (50 percent of 1.3 million mortgages)
3. Florida (46 percent of 4.5 million mortgages)
4. Michigan (38 percent of 1.4 million mortgages)
5. California (33 percent of 6.9 million mortgages)
6. Georgia (28 percent of 1.6 million mortgages)
7. Idaho (24 percent of 243,000 mortgages)
8. Virginia (23 percent of 1.2 million mortgages)
9. Maryland (22 percent of 1.4 million mortgages)
10. Utah (20 percent of 470,000 mortgages)

Foreclosures drop, but new delinquencies rise - MarketWatch

Foreclosures drop, but new delinquencies rise - MarketWatch:

"It will take a strong recovery in employment for there to be a permanent improvement in delinquencies, he said.

'Only when we see a consistent increase in employment will we see an increase in sales and starts, and a sustained improvement in the delinquency numbers. Until we see the increase in the number of households that comes with an increase in the number of paychecks, all measures of the health of the housing industry will continue to be weak,' Brinkmann said.

The combined percentage of loans in foreclosure or at least one payment past due was 13.97% on a non-seasonally adjusted basis in the second quarter, down from 14.01% in the first quarter, according to the MBA report. In the second quarter of 2009, the percentage was 13.16%."

>>>Read article in entirety by clicking on title link:

Please retweet this blogpost if you find it helpful in learning about government mortgage homeownership and bank loan modifications

Loan Value Group - Incentives for Borrowers

Loan Value Group - Incentives for Borrowers

If you are undwater on your home with negative equity, you may want to check out this program. My Sister let me know about this and it sounds intriquing. As always, check with your financial guru to see if this is something that will benefit you.

Here are some excerpts from the site follwed by media coverage of LVG:

According to the media press report LVG is basically working with you and the lender to make things a little more equitable for you. It 's goal is to prevent strategic defaults, where people walk away from the home due to the home's negative value. I would still rather see bank's address property values as some have promised to do, or see homeowners fight for their rights as most home loans are fraud filled.

Here's how RH Reward works:

1. The eligible homeowner with negative equity is presented with an initial RH Reward amount.

2. To keep their RH Reward status active, the homeowner makes their full and timely mortgage payments.

3. For a fixed period of time following enrollment, an additional amount of money will be added to the initial RH Reward amount for each month the homeowner maintains active status.

4. Once the mortgage balance is paid in full either by sale of home, refinance of home, or paying off the mortgage, the homeowner can withdraw the entire RH Reward amount.

Loan Value Group - LVG Media Coverage

I hope this helps some of you out there, and if you have any experience with this group, please leave a comment or email at alrady40@yahoo.com . Have a great day!