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

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The Banks Loose Mortgage Documents


Due to the banks mishandling and losing mortgage documents, a homeowner in New Jersey is not going to lose his home to foreclosure.  A judge has thrown his case out because Countrywide supposedly sold the loan to Bank of New York. However, Countrywide never gave them the original Note that supported the transfer of the mortgage. Countrywide stated that they had the note but then at the same time they stated that they could not provide the evidence to support this statement. They requested that the note be thrown out. This is another problem banks have to face in regards to the foreclosure process.