The House of Representatives will begin overhauling the Hope for Homeowners Program the first week of February.
 
This program was launched in the Summer of 2008 and was meant to help approximately 400k homeowenrs refinance. To date, however, the program has only received 450 applications with 25 closed loans. A poor testament to the program’s efficacy. 
 
The House will attempt [...]

Loan modifications are often used to generically describe several things that happen with mortgages. In fact, repayment plans are often called Loan Modifications.
The best example of this are the Hope Now Loan Modifications. These are really repayment plans designed to help borrowers catch up on their arrearages.
Approximately 70% of these repayment plans (erroneously called Loan modifications) re-default. This [...]

In an effort to stem foreclosures, the Fed announced today that it may come to the aid of some troubled borrowers by requiring loan servicers to modify Fed-owned and Fed-controlled mortgages.
Specifically, The Fed will put pressure on 1) loan servicers of mortgages that the Fed wholly owns and 2) loan servicers of mortgages that the Fed partially owns (because the mortgages are part of a MBS or CDO).  
The Fed can do this [...]

Property taxes are locked-in at the time you purchase your house and are based on the purchase price, and many troubled homeowners purchased their houses during the rise or at the height of the real estate market. 

Approximately 60% of homeowners in the U.S. are paying property taxes that are no longer commensurate with current property values. In light [...]

Here is a link to an Associated Press article that offers tips for renters when the landlord faces foreclosure:
http://www.cnbc.com/id/28392662/