Tony Delgado & Melissa Martinez's Page

Do you ever wonder why it's so hard to get a loan modification? Or wonder why there are so many reports that the government program set up to help people accomplish them isn't working?

Here's one reason:

A new study conducted by the National Consumer Law Center (NCLC) revealed that servicers make more money when a loan goes into foreclosure than if it is modified.

According to the report, Mortgage servicers (companies that collect monthly mortgage payments and distribute them to investors) fo… Continue

There is a lot of talk about extending the first time home buyer tax credit. Some are pushing to implement a credit for anyone that buys a home. There are income limitations in both plans.

The question that continues to come up is "does the credit actually help the housing market." To some extent, yes.

Reports say that 1.4 million buyers took advantage of the tax break so far. NAR (National Association of Realtors) estimates that the extension will create 350,000 additional sales over the next… Continue

Foreclosure rates dropped in Pinellas County compared to last years numbers.There was a 5.7 percent drop year-over-year with 1,944 filings representing one in 257 homes in some form of foreclosure. Foreclosures were up nearly 18 percent nationwide.

The August report from Realty Trac shows that there is still an ample supply of properties filing the foreclosure pipeline even when the outflow of bank-owned REO properties onto the resale market is being more carefully regulated. After hitting a hi… Continue