Looks like March 2014 came in like a lion and out like a lamb. Well, maybe not weather wise but definitely on the loan modification front. In March, I received notification of eleven loans that were approved to begin a trial payment for a loan modification, one loan approved for a forbearance plan, one loan for a moratorium, and executed three permanent loan modification documents. Could this mean that the new Consumer Financial Protection Bureau (CFPB) Regulations are helping both in getting loans reviewed in a timelier manner and with positive outcomes? I hope so; here’s to new beginnings!
Deborah Wheeler is a Foreclosure Prevention & Intervention Counselor at HOMEteam. She has had over 10 years experience as a loan originator and has worked helping homeowners with home retention and liquidation options for 6 years. She is a certified Foreclosure Intervention and Default Counselor and has help many homeowners achieve positive outcomes by reducing their monthly mortgage payments.