Journalism in the Public Interest

Articles Tagged With “Loan Modification”

Profiles: Shoddy Bank Practices Continue Even After Mortgage Mods

Many homeowners have received a mortgage modification only to find themselves once again at risk of foreclosure because of errors by their mortgage company. ProPublica investigated six of these cases.

Even After Mortgage Modification, Shoddy Bank Practices Hurt Homeowners

Many homeowners have been granted a hard-fought mortgage modification only to have their mortgage company effectively pull a bait and switch.

Lawsuit Reveals How a Middleman Is Blocking Mortgage Modifications for Homeowners

The suit is a window into a broken system where even though the actual investors, when asked, say they want to allow mortgage modifications, the bank that acts as their representative has refused to allow them.

Fannie and Freddie’s Regulator Opposes Reducing Mortgages for Struggling Homeowners

The regulator for the government-controlled mortgage giants won’t let them trim loans for homeowners who owe more than their home is worth.

Banks Modifying Tiny Percentage of Mortgages in Need

Data show that modifications are just as rare as they were before the government’s mortgage program launched 19 months ago.

New York State Foreclosure Mediation Shows Glimmers of Hope in Helping Homeowners

New York is requiring banks to sit down with homeowners before foreclosing. And it’s slowly starting to pay off.

BofA Blames Investors for Lack of Loan Modifications, But Evidence Points Elsewhere

Bank of America’s top mortgage official plans to testify today that investors are stopping the bank from making more loan mods. It’s not true.

Gov’t Has Spent Small Fraction of $50 Billion Pledged for Loan Mods

Data obtained by ProPublica show how much has gone to each mortgage servicer in the government’s foreclosure prevention program.

Despite Praise From Banks, Treasury, In-House Loan Mods Provide Less Help to Homeowners

Banks’ own modifications typically reduce monthly payments by half as much as those made in the government program, making homeowners twice as likely to fall behind again after a modification.

The Government’s Incredible Shrinking Mortgage Mod Program

The U.S. government's effort to help struggling homeowners from defaulting on their mortgages is approaching a standstill, and the number of homeowners in ongoing mortgage modifications could start shrinking.

Q&A: Putting the Foreclosure Paperwork Scandal in Perspective

Robo-signing’s just small component of a larger mess made by servicers, according to consumer advocates and attorneys for homeowners. One expert explains how the process should’ve looked.

Mod Program Falling Short of Govt’s Vague Goals

The government's mortgage modification is on pace to fall short of even the administration's vague goals, while details on why homeowners are being disqualified from the program raise questions.

Homeowner Tips for Getting Loan Modifications

Homeowners dealing with the load modification process offer some tips to make sure others can succeed.  

Loan Mod Profiles: For Some, a Modification

Permanent loan modifications can save homeowners from foreclosure, but for some, the help does not go far enough.

Loan Mod Profiles: In Trial Limbo

Extended trial periods delay answers and cause problems for homeowners looking for mortgage modifications.

Profiled Homeowner Gets a Mortgage Modification

Wells Fargo has finally given a loan modification to a long-frustrated homeowner who had feared foreclosure.

ProPublica Roundtable on the Loan Mod Program

A discussion by ProPublica reporters about the experiences of three people in varying stages of the loan modification process.

Loan Mod Profiles: Fed Up, Giving Up

A Baltimore homeowner tells why he walked away from his home rather than continue to deal with the loan modification program.

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