Wells Fargo reported that the number of mortgage modifications that are currently active in their folder is now over 740,000.

These figures are from late February and from January to February alone, the number rose from 733,180 to 740,359. These numbers include any modifications that are still in progress as well as completed ones from January 2009 to February 2012.

Officials also stated that they advised nearly 80 percent of homeowners that were at risk, to seek help and over half of these people were able to avoid foreclosure. They also stated that they have helped many to receive loans that allowed them to purchase or refinance a home.

If you or a loved one has been having trouble making the mortgage payment on your home, you need representation on your side that can explain how modification can help you avoid foreclosure. Contact the Maryland mortgage modification lawyers of Chaifetz & Coyle, P.C., by calling  443-546-4608 today.

A federal judge has now made a $1 billion settlement in order to help homeowners that have become victims of fraudulent foreclosures in Maryland.

The Maryland judge has joined with 48 other states in a $25 billion settlement that states that banks have been practicing illegal procedures when it come to foreclosures. The settlement states that five large services were guilty of issuing foreclosures too soon.

These five services include Bank of America, JPMorgan Chase& Co., Citigroup Inc., Ally Financial Inc. and Wells Fargo & Co. The federal judge stated, With the force of law and the federal courts now behind this settlement we can get down to the business of helping distressed Maryland homeowners." The state of Maryland will receive nearly $1 billion from this settlement. 

If you or a loved one are falling behind on your mortgage payments and you would like to discuss your financial options with experieneced representation, contact the Maryland mortgage modification lawyers of Chaifetz & Coyle, P.C., by calling 443-546-4608.

Maryland mortgage modification lawyers of Chaifetz & Coyle, P.C. are thrilled to announce the "Shop Maryland Energy Weekend" beginning Friday.

Beginning at midnight on Friday, there will be tax-free deals on select Energy Star appliances and products sold throughout Maryland.  This annual tax-free weekend will help consumers save on initial purchases and energy bills for the future. Appliances such as washers, refrigerators, heat pumps, air conditioners, and furnaces will be part of the tax-free deals.

The tax-free deals run from midnight on Friday to midnight on Monday.  The Energy Star label is on a list of appliances to mark the ones that reduce the emissions of greenhouse gases and pollutants that can destroy the environment from poor use of energy. 

For more information, visit www.wbaltv.com 

Maryland's delinquency rates on residential mortgages increased 9.46%, 37 points higher than it was for the first quarter. Loans in the foreclosure process also rose 14%, according to the Mortgage Bankers Association. Delinquency rates for ARMs and FRMs, as well as FHA and VA loans also increased between April and August. Maryland has been ranked ninth in delinquencies and twenty-third in starting foreclosures. Mississippi is currently the state with the most delinquences and Nevada has the highest rate of starting foreclosures.

However, loans on which foreclosure has started was down 10 basis points and foreclosure start rates for prime ARMs were also down 47 points.

If you are facing the foreclosure of your home due to late mortgage payments, contact the Maryland mortgage modification lawyers of Chaifetz & Coyle, P.C. at 443-546-4608.

Recent news has indicated that the foreclosure mediation program that was implemented by Governor Martin O'Malley in December 2009 has not met the expectations of homeowners, and many are still struggling to keep their homes.

The program was designed to enable lenders to be more flexible with homeowners so that they may be able to modify their mortgages and retain their homes. However, since being implemented, the program has only helped 100 homeowners keep their homes by modifying their mortgages.

Lenders have blamed homeowners for having their houses foreclosed on because they say that many homeowners fail to meet with them or fill out the proper paperwork. Homeowners, on the other hand, are blaming lenders, saying that they rarely stay in contact.

If you are in jeopardy of losing your home, please contact the Maryland mortgage modification lawyers of Chaifetz & Coyle, P.C., at 443-546-4608, to learn how we can help you.

The U.S. Department of Housing and Urban Development recently announced that they would soon be implementing the Emergency Homeowners' Loan Program (EHLP), which will give out $1 billion, in total, to homeowners who are struggling to keep their homes.

Under EHLP, homeowners who have experienced a decrease in income will receive up to $50,000 to help pay their mortgage or have their mortgage paid for two years, whichever comes first. This program is part of new financial reform legislation and will be similar to a past program, called the Making Homes Affordable Program.

The program will be offered in several states throughout the country. In states such as Maryland, similar programs have already been implemented.

If you or someone you love is having difficulty paying a mortgage, please contact the Maryland mortgage modification lawyers of Chaifetz & Coyle, P.C., at 443-546-4608 to discuss your options.