Loan Modification

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Every homeowner that is possibly facing foreclosure needs to be equiped with the vital information needed to complete a successful loan modification.
Now you can learn about the loan modification process through a series of free videos.

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Or you can call usl for free loan modification advice
at 1-866-208-6325

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http://www.60MinuteLoanModification visit for a free CD on Mike Rockwood’s experience modifying 5 of his own home loans – and how you can too. Ask Mortgage Modification questions on our forums at http://www.60minuteloanmodification.com/members

For me, the housing market implosion became personal. If youre reading this article its likely that the crisis has become that way for you, too.

Never in history has so much wealth evaporated so rapidly. It became a global problem, too, as mortgage-backed securities and derivatives are traded on exchanges around the world.

Approximately 15 million Americans purchased homes at the height of the housing bubble (from 2004-2006). Today they find themselves at Ground Zero in the housing crisis. Some experts say more than 8 million homes (16%) will go into foreclosure before 2012.

Over 600,000 loans were modified in 2008. That number is expected to quadruple in 2009. The burning question on the minds of homeowners today should be, How much and how rapidly can I modify my home loan?

In 2005 I purchased a long neglected home with big dreams of rehabbing it for my own. It seemed like a sweet real estate deal and it was until the U.S. housing market collapsed. Unfortunately, by that time I had already sunk $90,000 into improvements, so I resigned myself to riding out the housing downturn. At least the home turned out lovely and my wife of 34 years was pleased.

When my income declined too much, it became clear I couldnt meet my obligations. I racked my brain for a solution: Where could I cut back? What is the absolute minimum I could pay? Do I have any stocks or investments to sell?

I Wanna talk about ME!

I have always been conservative. I take pride in working hard and dreaming big. Like most Americans, I dont expect handouts. Im proud of my ability to care for myself and raise a happy family with solid moral values and work ethic.

You get the pictureIm probably a lot like you! Salt of the earth! But I began to feel that the economy had fundamentally changed, especially the housing market, and normal homeowners were being left behind to carry the burden.

New tales of corporate excesses are revealed daily. We learned of VIP loans for Senators and platinum parachutes for executives at Countrywide; Detroits big three automakers flew into Washington on private jets to pick up their government handout; Wall Street theif Bernard Madoff admitted to cheating clients out of a cool $50Billion; and on and on! It looked like a collapsed house of cards.

Remember Blazing Saddles? It contains a scene in which Gene Wilders character describes good, traditional citizens. He says, They have unchanging values, the salt of the earth people you know morons! Thats how I felt. Thats how I still feelmoronically passive while getting robbed!

My first loan modification was absolutely torturous. I actually failed three times on it before I finally cracked the code! I read through hundreds of pages of information published by non-profits, spent hours on hold with the bank, and attended one of the first Loan Modification live events designed to assist homeowners in distress. Instead of the anticipated turnout of 200, some 2,000 people showed up. Many of them waited over 5-hours just to talk with a bank representative. It was impossible not to see the similarities to the long lines of desperate Americans in line for soup and bread during the Great Depression.

Well, it certainly shook my psyche a bit. But sometimes reality bites!

The mod that came out of that meeting saved me $686 per month and almost $194,000 over the life of the loan.! Do I have your attention now?

Needless to say, it got my attention! How often do we get the opportunity to reduce monthly expenses by $686? Most people have to get a 2nd job to earn that much and thats taxable income! And, here is the financial benefit to me:

I had gone from inept bumbler to laser-focused loan mod mercenary. I was fast, fearless and dead serious about getting the best loan modification! Now, my experiences can help you.

Learn more about the opportunity to modify your mortgage with a free CD called 60 Minute loan Modification Secrets. Get it at my site http://www.60MinuteLoanModification.com.

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US Loan Outreach Interviews Loan Modification Expert Jeff Morris. Former Ditech Executive discusses the California housing market and foreclosures. Morris talks about the mortgage relief with mortgage loan modification plans that are available for distressed homeowners.

Call Jeff Morris at 866-945-6263 or Visit http://www.USLoanOutreach.com/ for the loss mitigation and mortgage modification solutions online.

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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 7 (Excerpt)

Watch out for scams; huge fees for Loan Modifications

Important to point out folks that Velocity Financial is a full service mortgage broker, the majority of our business is writing and originating and underwriting mortgage loans for homeowners, people to buy real-estate, people to refinance their homes, people can still refinance out there, loan modifications are not for everybody, in fact they are for a small segment of the market.

Im the founder of the Modification Hotline and we put that in place to help people right now, people dont need a salesman when it comes to these loan modifications, I heard a story today from a home owner that I just couldnt believe, this person that is trying to get loan modification told them that she had to pay them $1500 a month for 4 months and by the time she was finished paying them they guaranteed her some kind of ridiculous, I just dont understand why it is like that.

Right now we need to help you get through the situation, we are here for you, we are going to do everything in our power with our national network of attorneys, who are expert negotiators, so it is important that you call.

I just want to make the distinction so it is clear for everybody, Velocity Financial is a full service mortgage firm, all things mortgage related and the concept of todays show being loan modification program is a division of something that you kind of created and had some foresight about all of these issues that are effecting not only mortgage holders but the economy at large, thus this topic and wanting to help these people.

Thats correct, a year and a half ago I was approached by someone that I respected very much in the industry, asked me to get involved with the loss mitigation process and I essentially declined the offer, once I reanalyzed that a number of people calling us needed loan modifications. We did do some research and found the debt advisory alliance with a gentlemen that I have know for years, and he had already put together the national network of attorneys, so we are working with these people who have done thousands of these loan modifications.

We are the affiliate, we are doing the discovery and due diligence, they are taking care of the expert negotiations, thats not my job, that is not what we are good at, what we are good at is putting together a case that will get modified the best for you, and your kids and everything else to keep all of you in place…

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http://www.casimod.com

True loan modification software with all the options you will ever need. Casi Mod software is designed to maximize your performance. See how simple it is to create to create modification terms. To learn more visit http://www.casimod.com

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http://www.60minuteloanmodification.com – LOAN MODIFICATION: IS IT RIGHT FOR ME? I have a free 60-Minute Loan Modification CD that teaches you how I modified 6 of my own mortgages and now teach others to do the same. Follow the link above.

WHO QUALIFIES FOR LOAN MODIFICATIONS?

First:

You must have a genuine hardship. This can be a loss of employment, a rate increase, a decrease in property value, or other hardship which has made it difficult to make their monthly payments. You must be willing to write a hardship letter as part of the application process.

Second:

You must have made the decision to keep your home. You have to be sure that you want to absolutely keep your home and you will continue to stay current on the new monthly mortgage payments, once negotiated.

Third:

You must be able to afford the new terms of the modification – the monthly payments.
FREE LOAN MODIFICATION FORUM:
http://www.60minuteloanmodification.com/members

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Home Loan Modification video showing our Loan Modification Software that we name Simple Home Loan Modification which is loan mod software designed to help Home Owners save their home with valuable tips and feedback that helps them prepare the Hardship Letter and Loan Modification Packet

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http://www.60minuteloanmodification.com – LOAN MODIFICATION: IS IT RIGHT FOR ME? I have a free 60 Minute Loan Modification CD that teaches you how I modified 6 of my own mortgages and now teach others to do the same. Follow the link above.

IS A LOAN MODIFICAITON A REFINANCE?

No. Refinancing is not a great option right now. Its slow, expensive, and time consuming. Loan Modification is MUCH easier and offers more opportunity.

Here is why: If you have very little or no equity in your home, or if you have missed a payment in the past 12 months, or if you have bad credit, refinancing would not be an option for you. With a loan modification we can lower the payment and interest rate even with negative equity, missed payments, and/or bad credit.

FREE LOAN MODIFICATION FORUM:
http://www.60minuteloanmodification.com/members

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http://www.60minuteloanmodification.com – FREE Loan Mod Secrets CD shows how I modified loans on all 5 of my homes.

LOAN MODIFICATION
Empty Houses, Falling Prices & HUGE Opportunity

The worst of times ALWAYS opens up huge opportunities for smart people who arent controlled by their emotions.

Its your home, so of course it IS emotional, but lets look at the facts:

1 Three times as many homes are vacant in the U.S. right now compared with just 2 years ago.

2 Five million homes are facing foreclosure

3 Home values are dropping like flies everywhere

At the same time, heres what ELSE is going on:

Hundreds of billions (and eventually maybe trillions) of dollars are literally being tossed around to try to fix this mess you and I are both caught up in

while sleazy real estate vultures are perched on the hills ready to swoop down on struggling
homeowners, taking their deeds and leaving them homeless and broke.

This is not melodrama. This is happening in your neighborhood right now.

So what do you do?

Smart homeowners are making decisions VERY carefully—and theyre taking their time.

Theyre not running away, declaring bankruptcy, or giving up their deed to the first fast-talking
guy in a tweed coat.

Smart homeowners are modifying their home loans before they do ANYTHING.

Why? Because its easy, its fast, and itll cost you next to nothing. Best case scenario, you get to keep your home with great terms, and you come out of this downturn on top of your game. Worst case scenario? You buy yourself five years to think about what to do next.

Either way, its a no brainer. Loan modifications are the sweetest offer available to struggling homeowners like you and me.

Ask yourself this:

How long do you think this is going to last? How long do you think banks are just going to roll over and
let you change your mortgage, just because?

You need to take action now!

FREE LOAN MOD QUICKSTART CD
http://www.60minuteloanmodification.com/products

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http://www.60minuteloanmod.com – LOAN MODIFICATION: IS IT RIGHT FOR ME? I have a free 60 Minute Loan Modification CD that teaches you how I modified 6 of my own mortgages and now teach others to do the same. Follow the link above.

LOAN MODIFICATION & DEBT TO INCOME RATIO

Debt to income ratio is most important, but lenders also look at your household disposable income.

D.T.I.R. is calculated by adding up all your car payments, minimum credit card payments, installment loan payments, and your house payment using the modified ideal loan payment) plus property tax and insurance. That is the Debt part. The Income part is your gross monthly income.

So if your monthly debt service comes to $3000, and your income is $6000, your DTIR is $3000/$6000 or 50%. That is the most critical number. As a general rule, lenders are looking at 50% or lower but there are even exceptions to that.

FREE LOAN MODIFICATION FORUM:
http://www.60minuteloanmodification.com/members

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