Loan Modification

Attorney Negotiated Mortgage Modification for Home Owners. Expert Advice on Real Estate and Loan Mods. Avoid Foreclosure Scams and Fraud. Prevent Bankruptcy. Go To http://RealEstateMarketingThisWeek.com

Part 3 (Excerpt)

Beware of phishing schemes and bank scams GMACs clients hit hard

As promised just before the break, I told you to, listen in if you know anyone who has a GMAC Mortgage, this is one of those too good to be true things. Heres the thing, I have no issues what-so-ever with GMAC, thats not what Im saying, what Im saying is there is a scam of sorts that is going around. A client of ours received a letter, we did a second mortgage for this person a few years ago, they received a letter from GMAC, it looked like GMAC, it sounded like GMAC, and it said that we are willing to forgive your second mortgage of 200 and some thousand dollars in lieu of a one time payment, payable within the next 30 days, of say 20 thousand dollars.

I dont recall the exact amount or what it was. There is a phone number on there, it says loss mitigation department on it, a person assigned to this case. They called the phone number, they answered the phone as if you were calling into the loss mitigation department, and verified if you just send us this amount they will release the lien. Well it is completely false. It is absolutely not true.

These people are not going to seek you out on their own, now whether it be GMAC, today we have actually seen that one, there may be other ones out there. Folks, if you are getting stuff like this you need to verify it and you need to verify it by sources other than the information on the letter that you have received. If you get an email that says your bank account has been tapped into you need to check, chances are it is some kind of a phishing scam and this is no different.

We have gone back to identity theft through the mail and if you have been a party to this you need to verify and check into it, and you need to contact the authorities immediately for more information, if you need help with this sort of situation you are welcome to give us a call at 480 Velocity.

It is pretty amazing that that kind of thing still exists, and with the announcement by Paulson today that the fact is they are no longer willing to buy bad mortgages off the books of the banks. When you come across a phishing scam such as this one there is not a bank out there, I dont care what kind of trouble they are in, that is going to take $0.10 on the dollar to forgive a loan.

In a situation where things are going well, you are right in a situation where things are going well, and the status quo, they are going to be pursued by an attorney, that is entirely different, they are not just going to volunteer up and give you the money, its not going to happen.

Absolutely not and thats where we get back into what a loan modification is, who it benefits, and how it works and so forth, you are starting to see these wheels in motion amongst all of these banks. One of those wheels is certainly not well forgive $200,000 in debt if you write us a check for $20, 000.

And when we have talked about this Brett you and I have had many conversations in regard to what does it take? Can a person do this on their own, we will get to that a little later, but the answer is Yes. A consumer can actually do it on their own, up until very recently with the new announcements made from some of these major servicers and investors, up until then, a person trying to do it on their own would take days upon days and hours and hours on the phone not getting calls back trying to find time during the day while working to get this done and in many cases they are going to get a temporary fix.

The loss mitigation department for the bank that you have your mortgage with, their job is not to mitigate your loss its to mitigate their loss. They are out to protect the bank, thats why we use the national network of attorneys that we do, that are specialists, that have done thousands of these loan modifications, that go to bat for you. By the way folks, they are not going through the loss mitigation door that you would have to go through they are going right to the legal department, they are going to threaten suit if necessary, they are going to do discovery work, they are going to find out if there was anything that was misrepresented either by the bank or the broker and take that angle…

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A loan modification is the process of changing the terms of your current loan. Attorneys perform a 220 point Forensic Loan Audit to find federal, state and predatory violations. With these findings our attorneys can force your lender to modify your loan. The lender will modify your loan by changing your interest rate, balance of loan, delinquent fees owed, and term of loan. Our loan modifications process has a 98% success rate on qualified clients. Contact us now to for a Free Consultation.

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Technorati Tags: Bankruptcy, chase, countrywide, financial hardship, foreclosure, foreclosure sale, gmac, hardship, home eq, keep home, keep my home, keep your home, litton, loan modification, loan modification help, loan workout, loss mitigation, modify loan, mortgage help, negotiate with lender, option one, real estate owned, reduce principal, REO, short payoff, short refi, short refinance, Short sale

Loan Modification Buzz sits down with mortgage legend, Jeff Morris to get up to speed on home loan modification programs from the most popular lenders like Chase, Countrywide, Wells Fargo, WAMU, Citi and B of A. Get free loan modifying advice and more mortgage modification info online at http://www.LoanModificationBuzz.com

Former mortgage brokers, Bryan Dornan and Jeff Morris talk about the timelines for loan modifications and what to expect during the cumbersome loss mitigation process with most lending companies. Loan Modification Buzz and Morris agree that borrowers should work with a loan modification company that is sponsored by a law firm because they typically get better results negotiating with mortgage lenders for lower mortgage rates, reduced loan payments and improved fixed rate terms.

The Loan Modification Buzz offers the latest mortgage news for loan modifications to bad credit borrowers. Save money with historic low interest rates that make mortgage relief more appealing. Also see http://www.usloanoutreach.com/

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Technorati Tags: chase, Citi, countrywide, dornan, home loan modification, jeff morris, Lenders Negotiate, loan modification, loss mitigation, mortgage relief, reduced loan payments, WAMU

Loan Modification Buzz talks with home financing experts, Jeff Morris on loan modification opportunities for struggling California Homeowners. Property values from San Diego to San Francisco continue to decline rapidly eroding home equity and refinance availability for most borrowers.

Former mortgage executive Bryan Dornan discusses the foreclosure crisis and the growing demand for California loan modifications with residents getting access to low rate mortgage relief from attorney backed loss mitigation firms.

Loan Modification Buzz, Cardiff and Morris agree that 2009 is still a good year for mortgage relief. Make sure that you work with a mortgage modification company that is associated with a real estate attorney in an effort to maximize low interest rates, and more affordable loan payments negotiated with your mortgage lender.
The Loan Modification Buzz provides the latest home financing news for loan modifications. Get free advice and more info online at http://www.LoanModificationBuzz.com

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Technorati Tags: Bryan Dornan, California, jeff morris, Loan, loss mitigation, modifications

http://HomeSavingCenter.com The failing economy and all the bad adjustable loans have really hit the homeowner right now leaving them in a position not knowing where to turn on a loan modification or foreclosure issue. This is part 2 of How to get your Loan Modified using an attorney based loan modiification company. Including a Loan Modification Success story

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Technorati Tags: loan modification, loss mitigation, stoppping foreclosure

Attorney Negotiated Home Loan Modification for Home Owners. Expert Advice on Real Estate and Mortgage. Avoid Foreclosure Scams and Fraud. Prevent Bankruptcy. Go To http://RealEstateMarketingThisWeek.com

Part 8 (Excerpt)

B of A and Countrywide pay $150M fine for deceptive mortgage practices

I have here in my hand something from the office of the attorney general Terry Goddard, this is in regard to B of A and Countrywide. The state has alleged that prior to 2008 that Countrywide used unfair and deceptive tactics in its loan originating and servicing activity and placed borrowers in structurally unfair and unaffordable loans. These are not my words folks this is from the office of Terry Goddard the Attorney General of Arizona

They are talking about lowering peoples rates for the first year only. Look a good loan modification, you dont need a 12 month reprieve if you are 2, 3, or 4 months behind on your mortgage, it is going to take a little bit more than 12 months to get back on your feet.

I was going to say what an important point that you are making is because the announcement today by Paulson regarding the money not being used to buy these bad mortgages any longer, because of Barney Franks comments about how banks need to do more to help avoid foreclosures for mortgagees, what that really is amounting to for me as someone who studies the financial marketplace every single day as part of my profession, what that really amounts to is banks being able to set terms, and the short term reprieves, and the importance of what you are doing right now is critical for people to understand.

You are ahead of the curve, you go to the bank for these modification purposes, you take the proactive steps to make the terms suitable for you, my point is if the bank, by Terry Goddards letter, already has asserted that they have made some type of poor judgment in the way that they treated their mortgagees or the people that they gave loans to, why would you then go back to that bank as the owner of that mortgage and try to negotiate with them on your own? Why then would you have the trust in them that it was going to work to your best possible out come? I find that to be absurd.

You are absolutely right; they have essentially admitted to it, they have a $150,000,000 settlement. I just want to throw one more thing out there, they have a $150,000,000 bill that they have to pay because, according to the Attorney General, deceptive business practices, a hundred and fifty million dollar check that they have to write, somebody is going to have to make that up.

And that is a good point, the point of this would be to take this action yourself prior to these banking institutions making the decisions on your behalf, theyve already done this, they have already made those decisions on your behalf, whether or not you knew exactly what type of loan program you were getting involved with when you took out the loan and all of that.

If you find yourself in a position of not being able to maintain your existing mortgage payment under the terms that you have been issued by the bank, modification is something you should consider, you make the terms going forward, you should use the professional expertise and the negotiating abilities of these attorneys that specialize in this area and make this work for you before the rules are placed at your feet yet again.

We talk about people doing this on there own, what I see being the problem is they are going to send you out a packet of paperwork, maybe email it to you or fax it. I have seen the paperwork that they send out, it is more than 36 pages of legalese, once it goes back it is going to sit in front of the loss mitigation department in a stack, Ive seen the stacks, literally thousands of cases sitting there waiting to be reviewed by someone who may very well not be qualified to make a real decision, in my opinion using the loss mitigation department at the bank you may be dealing with a clerk that was answering sales calls for someone else two months ago.

Versus going to the legal department and dealing with those individuals directly. There is no doubt you absolutely have to use professionals, you need to put your head on the pillow and turn this over to somebody who knows what they are doing, an expert negotiator, a paid attorney that does this for a living, put your head on your pillow and keep your family safe in your home…

Duration : 0:6:10

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Facing Foreclosure on Your Real Estate Mortgage, Short Sale & Loan Modification are Alternatives. Hire an Expert Short Sale Negotiator, Experienced Real Estate Agent. Go To http://RealEstateMarketingThisWeek.com

Part 3 (Excerpt)

Short Sale Objections, Advantages and Hardship Letters; Keeping the Home Owner in the Home helps fight vandalism

One of the things I mentioned at the beginning of the last segment is this special allotment of funds that we received from one of our mortgage banks that we currently have available, a 30 year fixed, no pre payment penalty this is the real deal just what youre looking for a 4.875% interest rate with an APR of 4.95% and that is available we do have people at the office right now if you have questions in regard to that they can answer them for you. You would call 480-Velocity

Michael, I have some clients who are buyers that would love that rate. Is that available to buyers as well? Actually, yes its that rate is for a no cash out refinance, no higher than 80% LTV, they have to have perfect credit to hit this number but even in some cases, well with this particular loan there are some closing costs, but one of the things we have available too is a no cost option and that interest rate is for people who are doing the purchase or refinancing and that rate is only 5.5%. The interest rate is 5.5% and the APR is 5.5% so that is for purchase money as well.

Were back talking here with Jeri League and Kalyn Roberts, were talking about the objections to doing short sales, there is another one you wanted to point out Jeri?

Yes, one more objection that people often have when we talk to them about their particular situation is that people feel that they have to be behind on their mortgage payment in order for a bank to consider a short sale and that is not true, the bank analyses everyones entire situation, we have people write a hardship letter, they want to see your financials and there is an entire situation not just being behind on your mortgage payment.

Your hardship may be that youre being relocated by your employer and you simply cant sell your home for what you owe on it due to todays market conditions. The banks will definitely look at that.
People think that the key is that you have to be late but that is not the case. That is really good to know, so we talked about the objections or the pitfalls rather what about the advantages to doing a short sale?

The biggest advantages to doing a short sale are: that its less impactful on your credit typically than a foreclosure and one of the most exciting benefits is that we can often extend the foreclosure and keep you in your house longer. In Arizona banks have a right to start a foreclosure as soon as youre over 30 days late on one mortgage payment. In todays current economic situation most banks are not starting that process for three to six months, but again that is most banks. They can start after one month.

Yes, but once they start the foreclosure process its a 90 day process in Arizona. So you will get a notice that says basically you have 90 days to come current with the note or to move and they are taking your house and selling it in 90 days. Now once we start the short sale process many times we can extend that foreclosure date.

I have personally done one that we had the home owner in for almost a year from when they stopped making their mortgage payments. Its not uncommon to be two or three months past the original foreclosure date that they gave you which of course gives people a lot longer time to decide what they are going to do, especially if its a family, they are not in such a rush to move, they can keep their kids in the same school district, there are so many reasons that that is a good advantage.

So Kalyn the truth is that homes that are occupied generally are better off and easier to sell than vacant homes right? So long as people are in the house and taking care of the house, if the house looks lived in but not trashed. What youre saying is lenders would just as soon leave them in the house then to have it vacant and potentially vandalized.

Definitely, the lenders prefer to have somebody living in there because they are taking care of the home, like you just said when the homes are vacant there is a high risk of them being vandalized, unfortunately and the worse the economic situation in the country gets the higher the vandalism rate on homes goes. In fact we were talking with a realtor in our office who typically takes listings in some of the lower income areas in town and they are going to stop putting signs on vacant listing because they are getting vandalized so much.

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(818) 812-6159
OUR PROMISE TO YOU AS A CLIENT
1. Assistance in preparation of a loan modification request package
2. Assist Client in the preparation and drafting of a hardship letter to the Lender;
3. Submission of the Net Present Value Test (NPV Test) according to the guidelines of the Making Homes Affordable Program.
4. Electronic submission of Loan Modification / Loss Mitigation package submitted ELECTRONICALL VIA LOSS MITIGATION WEBSITE PORTAL. DIRECTLY TO LENDER.
5. Transmittal of the loan modification package request based on information provided by Client,
6. IMMEDIATE “Confirmation” Acknowleding receipt of Modification documents.
7. Upon submitting your modification request via the DMM Loss Mitigation Portal Website, your modification request will be deemed completed.
8. As a courtesy to you we will continue to monitor the progress of the loan modification through the Loss Mitigation Portal website.
9. We forword via email copies of all communications between attorney and lender twice monthly.

Once Attorney submits your Loan Modification Package to your Lender(s), any forbearance/modification agreement offered to Client by Lender, thereafter, will be deemed to have been generated by Attorneys work product and WHETHER YOU ACCEPT THOSE TERMS, REJECT THOSE TERMS FOLLOWING ACCEPTANCE, AND/OR REFUSE TO EXECUTE MODIFICATION DOCUMENTS CONSISTENT WITH THE MODIFICATION OFFER, THE PAPERWORK IS SENT TO YOU DIRECTLY, AND NOT DIRECTLY TO THE ATTORNEY, BY THE LENDER(S).

DISCLOSURES

OUR FEE POLICY FOR LOAN MODIFICATION / FORECLOSURE WORK
In light of the recent enactment of California SB 94 on October 12, 2009, our firm will no longer require an advance retainer fee deposit for all new clients for loan modification / foreclosure assistance work that involves California residential properties (comprising of 1-4 units).

ADDITIONAL DISCLOSURE
All clients, existing or prospective, are hereby advised that there may be a number of existing non-profit loan modification counseling agencies that may offer you similar services, at no charge, that our firm is offering, although of course, the level of their services, experience, expertise and/or commitment to your case matter may vary from ours, as we are not certain if such agencies actually employ attorneys (with similar background and experience) to work on your case file. Nevertheless, operating in accordance with our ethical guidelines and principles, we fully provide this full disclosure to you now.

Further, although our attorneys have much experience in real estate law, mortgage finance, loan underwriting and debtor/creditor issues (including bankruptcy) and while we may be reasonably confident in the level of our services, PLEASE DO NOTE THAT WE CANNOT GUARANTEE ANY RESULT OR OUTCOME. We value every client, and we understand the difficulties that many current homeowners are now experiencing, and we only want our prospective clients to proceed on an informed basis.

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Technorati Tags: Bankruptcy, foreclosure, loan modification, loss mitigation, refinance, save my home, Short sale

http://www.ncacreditrepair.com/loan-modification-program.html Loan Modification – This is when your loan is restructured with your current lender. This option not only improves your credit, it is also the best way to keep your property. With this option, our goal is to significantly reduce your mortgage payment by achieving one or more of the following things:

Rate reduction
Rate locks
Principal reduction
Forgiveness of late defaulted payments

Short Refinance – This restructuring plan encourages clients to refinance, typically with another lender. To help qualify the homeowner, the current lender would issue a shorter payoff amount in order for a homeowner to obtain a loan based on current lending guidelines.

Short Sales – If the homeowners hardship is very extensive sometimes the only way out is to sell the home and be rid of the burden altogether. In a short sale, the negative equity in the property is forgiven by the lender in order for a sale to occur at market price. One of the many real estate professionals at Diamond Consulting will be available to list/show the property and work with the attorney to submit offers to the lender.

A Deed in Leiu of Foreclosure – A potential option negotiated by the attorneys, a deed in lieu is when a client avoids foreclosure by deeding back the home to the lender in exchange for the release of all obligations under the mortgage. Both sides must enter into the agreement voluntarily and in good faith.

Cash For Keys – In most foreclosure cases, homes are left damaged and in disarray. The high cost of restoring these distressed properties pushes lenders to explore other options such as cash-for-keys. This is where the lender issues cash in exchange for a home in good standing, and or in clean condition.

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Experience, Experience, Experience! We can’t say it enough! We have over 40 years experience negotiating with lenders. Our team of Real Estate Professionals, Mortgage Consultants, Loss Mitigation Specialist and Real Estate attorney’s leverage their experience into getting you a solution to our mortgage problems. In addition, we have established relationships with almost ALL the major lenders/banks/credit unions which helps make your process Fast and Easy. Most importantly, we guide you through all phases of the process and keep you informed on the status of your solution. Call us Now 1-866-60-MODIFY for help with your mortgage problems today!

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