How People Voted
 |
 |
50% For, 50% Against
Take Action
  |
Alert Your Friends and Colleagues |
  |
Write Your Representative in Congress |
| Save & Share | |
 |
del.icio.us |
 |
Digg |
 |
|
 |
|
 |
|
 |
Yahoo! |
H.R. 5579, The Emergency Mortgage Loan Modification Act of 2008
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
Revision History 
Below is the revision history of this article.
(Learn how to edit the WashingtonWatch.com wiki.)
(Latest | Earliest)
To look at a past version, click on its date. To compare any two versions, select their radio buttons and click on "Compare Selected Versions." To compare a past version with the current version, click on (cur). To compare a version with the preceding version, click on (last).
Cost per :
Learn More
RSS Feeds for This Bill
Keep yourself updated on user contributions and debates about this bill! (Learn more about RSS.)
Visitor Comments
Stephanie Anderson
April 14, 2008, 12:18pm (report abuse)For this bill, Congress should get companies such as MIZNA (loanmod.com) more involved because they are on the front lines of this housing crisis and MIZNA is doing an excellent job in dealing with loan modifications and all the issues that arise with them.
Jennifer Lutz
May 12, 2008, 4:41pm (report abuse)This type of legislation is a step in the right direction. I'm sure companies like MIZNA (loanmod.com) will benefit from these efforts. They guided me through the loan modification process.
Susan Williams
July 11, 2008, 7:12pm (report abuse)It is about time that the government is doing something about this mortgage crisis. I was able to educate myself about loan modifications at (www.modify.be)
They answered all the questions I had and pointed me in the right direction to get help.
bobby rocket
August 7, 2008, 12:53am (report abuse)I used a company by the name of professional loan modifications. www.proloanmods.com they were able to do what 80 loan officers couldn't and got me a 6.5% fixed rate instead of the 11% arm I was on. I would recommend them to everyone.
Maxine Kilpatrick
September 3, 2008, 5:43pm (report abuse)After researching all the companies, I also tried using www.proloanmods.com I was in the same situation as Mr. Rocket. I had a 10.75% rate. I'm now at a 6.0% fixed rate and I'm not afraid of losing my house anymore. The people over at www.proloanmods.com were amazing. They listened to me and understood what I was going through. In the end, they were very affordable. I'm glad I did my research on them, it paid off!
Joel Johnson
September 11, 2008, 1:51am (report abuse)I think this pretty much sums up the state of affairs when it comes to the real estate market and home foreclosures. Home foreclosures are on the rise still, as those who were able to hold out are starting to feel the pressure of the slowing economy. With the recent debacle at the federal level concerning Fanny Mae and Freddy Mac... this is going to be an issue for a long time coming. Now the mortgage companies are in so deep that it will take a long time for these lending institutions to recover. Check out some other organizations that have felt the pain Organizations Not even the wealthy are immune to the gradual slowing of the economy. Take a look at some of the recent news about other people involved. Or the latest news! But we would
never be in this mess if people weren't overspending their means.
Carl Morgan
September 13, 2008, 2:24pm (report abuse)GMA Modification (www.gmamodification.com) was awesome! They negotiated $9000 worth of attorney fees and late charges off my deed in lieu.
Sonia Milson
September 13, 2008, 2:27pm (report abuse)Yes I went with www.gmamodification.com too, they were great, got me down from an 11.75% to a 6.00% fixed. I though I was going to lose my house, but this service was the only reason I didnt.
Mortgage Modification
September 15, 2008, 7:45pm (report abuse)We actually have a nice, simple to understand, run down of modification proceedings and methods at our Mortgage Modification website in the services section. You can get a pretty good idea if the company you're going with is good or not by checking to make sure the use similar methods.
Sorry didn't put link
September 15, 2008, 7:47pm (report abuse)We actually have a nice, simple to understand, run down of modification proceedings and methods at our < a href="http://www.loanmortgagemodification.com">Mortgage Modification website in the services section. You can get a pretty good idea if the company you're going with is good or not by checking to make sure the use similar methods. Again the site is www.loanmortgagemodification.com
FELY
September 23, 2008, 11:56am (report abuse)I want to know the requirements for loan modification. I called my lender but they are not very helpful with my situation. Do I have to miss payments in order for the to modify my loan?
nerissa
October 14, 2008, 11:48pm (report abuse)I want to know the requirement for loan modification and about how much approximately it cost in legal fee?
Stacy in Texas
October 15, 2008, 5:42pm (report abuse)I just contacted Advanced Loan Modification based in California and they are currently working on my mortgage modification. I had to pay 1495.00 up front and will have to pay 1495.00 when it is completed. I am hoping that all goes well as I also got into my home during the sub-prime lending craze. My intrest rate is over 11% and I am hoping that this will help me!
Barney McMurray
October 22, 2008, 1:48pm (report abuse)wow I used www.proloanmods.com I had a 9.25% rate they got me 5.9% fixed and charged me $1950. Did I get a good deal? Im now saving $600 a month but with all these talks of other companies it has me wondering if I could have gotten a better deal
Krystal Covington
October 28, 2008, 4:20pm (report abuse)I used www.creditmodamerica.com in Florida and they got me a 4% rate, and it only cost me $1395! BEAT THAT!!!!!! LOL Oh yea, Chris was my rep...he was awesome!
Janice
October 29, 2008, 11:48am (report abuse)Should I pay fee's up front for modifaction? I'm not sure who to trust
bob
November 6, 2008, 11:04am (report abuse)This bill isn't anywhere near enough. It should require that servicers refinance all ARM loans including investors and second homes to a 30 year fixed. anyone who doesn't think this mess will be cleared up in 5 years isn't paying attention.
Maria
November 16, 2008, 9:20pm (report abuse)don't be so quick to sign up without considering doing a forensic loan audit with U.S. Lender Audit.Their website is www.uslenderaudit.com and by far they provide the best audit, uncovering violations and much more used as a much more powerful negotiating tool for loan modifications, and loan settlement.Borrowers don't realize that many lenders are trying to hide their mistakes, so many borrowers who may not know the difference, sign up for loan modification, and when you look at the fine line printing, a borrower may be waiving their rights to a better loan modification or even a loan settlement.You guys really need to check these guys out. Their report uncovers so much. And, there are those other companies that are making claim to do similar services, but after my research and learning about so many attorneys giving accolades to their services.They may cost a little more,but it's worth every penny whenyou have that much more that could be uncovered and potentially save thousands.
Dave from LA
November 21, 2008, 1:41am (report abuse)I went to http://www.loanmodassistant.com
It was $199 and guaranteed. The government says that make sure you get a guarantee and I don't think it can be beat ever.
I was with U.S. Bank on my 1st and 2nd mortgage. went from a 12.75 on 1st and 13 on 2nd to 6.% on both loans. I saved $812 each month. I hope this helps someone.
James
November 23, 2008, 8:46am (report abuse)Get a forensic audit before you agree to a modification. I had mine done at www.nationalloanaudits.com. They found TILA violations and referred me to an attorney who is handling my case on contingency.
Gavin from florida
December 6, 2008, 3:30pm (report abuse)I have found that the best mitigation out there is at Mortgage Mitigagtion services at loanmitigationonline.com or call mike at 866-578-2025 x-107 He help me stop my foreclosure and got me a better payment that fit my budget and he got most of my late payments removed from my credit report.
Tracy
December 22, 2008, 10:55pm (report abuse)I am an actual homeowner, not like these other sale people trying to use this space as free advertising. Here is an email for you pbakervp@yahoo.com, if he can help you, you'll actually receive what others only talk about.