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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Mortgage Notes are Being Misplaced


A new problem has come to the fore front for major banks. Banks are being scrutinized because it has come out that numerous promissory notes have been misplaced. It has also been stated that there have been countless mortgage documents lost due to the mortgage frenzy from 2005 to 2007. This affects all the properties that are in the foreclosure process. There was a foreclosure freeze due to the "robo-signing." However, the freeze has been lifted and the banks are continuing to foreclose on properties.  Nevertheless government officials are meeting to determine a way to fix the problem. However, they are not going to have a solution until the end of the year.