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Do I Qualify For A Loan Modification
[July 30, 2008]   by Foreclosure Help
Filed under: Do I Qualify For A Loan Modification

Do I Qualify for a Loan Modification

In many instances a homeowner is set up on a repayment plan (forbearance) plan prior to completing a loan modification which allows a servicer (mortgage company) to monitor the financial condition of a homeowner during the special forbearance period to be sure the homeowner will be able to make the payments to the lender. There are vital documents required that are reviewed by a mortgage company

Hardship Letter:
To meet the requirements for a loan modification homeowners must have a compelling hardship. The hardship must be documented and given as many facts as possible to support your case. A is very subjective and pretty much a requirement in the course of getting a loan modification. There are a few adversities that are considered charitable and do not meet the criteria quitting a job or reducing the amount of hours worked are typically unacceptable. The adversities are documented and if there is an additional non-payment the homeowners can not use the same reason for non-payment otherwise their previous adversities was really not over and in many instances the homeowners are not allowed a loan modification.

Financial Statement:
This is used to verify the homeowners ability to pay. This is usually the first form reviewed by the lenders mediator. This form must clearly indicate monthly wages and expenses as well as current assets and liabilities. This is what makes and breaks the entire loan modification review. This form also shows whether or not the homeowner will be able to make payments if the loan is modified. There must be a surplus wages at the end of the loan modification or else the plan will be denied. The plan must be affordable. If a homeowner is severely over-leveraged with debt there is little chance that a loan modification will cure the delinquency. Monthly expenses are reviewed to determine what bills are necessary and what are unnecessary. Necessary expenses are food, utilities and gas and an example of unnecessary are entertainment expenses, expensive phone plans and unsecured debt. Household expenses loan payments, utilities, and taxes take up most of the monthly budget. Do not make operating costs look unreasonable will be a red flag to get further detail. The negotiators will always look for assets that can be liquidated.

Proof of Salary:
The proof of wages is usually a paycheck stub, a P&L Profit and Loss Statement if self employed, or checking account report showing paycheck deposits. The proof of wages is required to prove the homeowner has steady wages. The homeowner must also give frequency of wages. The proof of wages must correspond with the wages shown on the financial report. Resolve any discrepancies

 

Loan Modifications can Stop Foreclosure
[July 28, 2008]   by Foreclosure Help
Filed under: Loan Modifications can Stop Foreclosure

If you are facing foreclosure a loan modification can stop foreclosure once the agreement has been approved. We have a high rate of workouts that end up being a loan modification because of our experience working on the side of the lender for many years. We have the experience it takes to set you up for a loan modification and in many cases when you are current (lender specific). We know the process because we worked for lenders in their loss mitigation department. We know how they work and how they set many homeowners up on plans they can not afford. Do not let that happen to you contact the professionals in the business. Below are a few homeowners that have contacted us for loan modification help.

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City: Baltimore
State: Maryland
Zip Code: 21206
County: usa

Stop Foreclosure in Baltimore

We had some mishap, since 2007, my wife lost her mother, which she had to stop working to care for her. After her mother death she was not handling it very well. She started a new job and had to quit because she was having carbuncle tunnel symptoms in both her hands which require injection and wearing hand brace to help with the pain. Now she might require surgery in order for her to take on a full time job again. So have been really trying to avoid foreclosure, we almost lost our home early this year, but was able to acquire the back payment from my 401k. But we still need her to reduce our payments which would help us allot before the rates increase on our Adjustment payment. We really need your help in getting back on our feet with worries about our home, our debts to pay are slow or not all because we now face, high prices or gas, electric bill, water bill and car insurance. We are holding steady,but struggling making our mortgage payment, which other things are suffering. need help to keep our home and avoid foreclosure

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City: Yorba Linda
State: California
Zip Code: 92886
County: Orange County Foreclosure

Stop Foreclosure in California

Bought house paid 136,500.00 with 33,000.00 down have about 108,000.00 current payoff. My loan started with an ARM loan at 8.50% and has reseted twice and now is 12.25%. I was lated once in two years and wanted to refinance but was told I was late three times. after my rate jumped my payments started to be late since I was at the top of my ability to pay at the beginning. I have contacted my mortgage co. many times with no help to get to a fix rate. I have at least 30,000.00 equity Im close to losing and I just cant add more a month to catch up my loan at this payment. In the past two months I have been on short term disability due to health and only getting 70% of my pay. Please help me get a loan modification with Homecomings Financial

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City: Monrovia
State: CA
Zip Code: 91016
County: Los Angeles

Foreclosure help in Los Angeles

Bought home from financially troubled family, with the intent of moving in with my girlfriend, who had to sell her home first before she could move.  Our relationship ended, and I was left with the home myself - so I decided to let the distressed family stay as long as they made payments.  They did, for awhile, and then the main earner had health problems, I ate thru my savings trying to keep up with payments, so much so that I did not have enough money for lawyer, or so I thought.  Now I am past the point of evicting them, and the auction date is a week and a half away. As stated, made premature plans for the future with my girlfriend, and then was left holding the entire mortgage in my name.  Also, lost my job and was without employment for a number of months, so I ate thru my savings.

 

Foreclosure Assistance with new Bill
[July 25, 2008]   by Foreclosure Help
Filed under: Governement Bill for Foreclosure Assistance

Bill is more fluff than support

The House of Representatives has pushed through a bill to assist 400,000 homeowners fighting to keep our of foreclosure and allow two mortgage companies Fannie Mae and Freddie Mac get government backing with funds to Stop Foreclosure.

Just this past Wednesday, President Bush was threatening to hold up the bill because of a provision that would hand ovder $3.9 billion to areas victimized by the housing crisis.

The White House press secretary Dana Perino said to reporters that President Bush will agree to the bill. She stated “We believe this is not the time for a prolonged veto fight,”.

Excerpts from The bill:

Bush support the bill that gives funds to Fannie Mae and Freddie MAC, which are major players in the U.S. housing market, but he is aginast the $3.9-billion because the lenders will be helped and not the homeowners.

Perino stated “The positive aspects of the bill are needed now to increase confidence and stability in the housing and financial markets,”. “While we have concerns with other aspects of the bill, it is important that the new authorities are put in place promptly,” this done before the summer break for the politicians.

The bill frees up money for homeowners that will allow refinancing into governement backed loans and avoid the foreclosure process. This will help some homeowners that are current but if in default the bill will not assist.

The bill will put a strangle hold lending by the the two companies, Fannie Mae and Freddie Mac tightening the loan approvals. If you need loan modification help we are here for you.

 

Loan Modification Assistance
by Foreclosure Help
Filed under: Loan Modification Assistance

Need Loan Modification Help? We have the experience needed to succeed.

The declared income housing loans are no longer offered by Fannie Mae and Freddie Mac to stop the suffering of more more defaults. Now consumers must qualify with full documentation and won ‘t be able to qualify because of debt to income ratio, no more stated income deals. This will affect more than 71% of California and Florida homeowners needing to refinance their Adjustable Rate Mortgage, as well as many other homeowners throughout the country.

With so many people rate adjustments this year can only work with their lender or foreclosure and we are here to offer loan modification help. The problem is, in many cases these people have no access to their lenders or even to hear their demands until they are in foreclosure. One of the biggest wholesale lenders INDY MAC BANK only is now being run by the FDIC as well as the others facing major defaults in their portfolios, the option of ARM’s as well as subprime loans are due to increase as much as 5.00 % in the near future. Countrywide Bank (Countrywide Loan Modification Assistance), Wells Fargo (Wells Fargo Loan Modification Assistance), EMC (EMC Loan Modification Assistance), Washington Mutual (Washington Mutual Loan Modification Assistance), Ocwen Mortgage Company (Ocwen Loan Modification Assistance), Option One (Option One Loan Modification Assistance) to name a few, all the troubled times before, if they haven’t had enough.

If a consumer needs help and the bank refuses to listen to what needs to be done (which is very common) we have the ability to step in and give the homeowner foreclosure help and the ability to stop foreclosure!

Most banks are not to talk to you, unless you are 3-4 months or more on your mortgage and by this time your credit is shot and you can never secured loan at a reasonable interest rate again. Loan modification companies are crawling out of the wood work to your money and not qualified to help.

The problem is the mortgage company/servicers are overwhelmed with defaulted loans. They are understaffed and the staff, she is overwhelmed these days and it’s to get worse. I have a friend that still works at in the Loss Mitigation Department at Ocwen and he claims to be burned out.

Work with a company that has been around for a long time because we know the business. We did not learn the business at a weekend loss mitigation training event or through a loss mitigation manual. We were in the trenches working as loss mitigators in the bank.

We offer the best Loan Modification Assistance available.

 

Pets facing foreclosure
[July 24, 2008]   by Foreclosure Help
Filed under: pets facing foreclosure

Foreclosure Pets

The informative Cat story

Cats are mostly said to be peaceful pets. Many people believe that if a cat is provided with food, drink, and a resting place then it will stay tame and warm to its owners while exhibiting the typical feline liberty.

Not all cats are alike. Cats have distinct personalities, just like men. One cat might be cuddlesome and easygoing, and on the other hand another cat might be so temperamental that the owners give up sleep because the cat is consistently bouncing off the walls. provided that it is suitable to the owners, there is not a difficulty regarding varying personalities amongst cats.

One personality attribute that majority owners aren’t willing to compromise with is aggressive tendencies within cats. Dogs can escape with such personalities as some owners essentially want a dog to be mean and able to scare people. Cats, conversely, are normally brought into a home so as to protect the family. consequently, fierceness is not a attribute that cat owners search for.

Aggressive cats can bring about a reasonable bit of harm because of their speediness and nimbleness very rapidly.

mostly cats become fierce due to some or the other type of mistreatment. Felines that have been besieged by a brutal 0preceding owner might turn aggressive as a part of self-protection.

What to do if your cat is getting agitated? Initially, begin going through books on cat behavior. Cats will give signs which will indicate the time for you to back off. Be kind and show compassion in order that your pet learns to have trust in you, and spend quality playing time together to augment your relationship.

Pets Facing Foreclosure

Loan modification help

 

Loan Modification Options
[July 23, 2008]   by Foreclosure Help
Filed under: loan modification help, loan modification options

Loan Modification Options

We offer the best loan modification programs available and we will fight for you as a negotiators to stop your foreclosure. We have helped many homeowners stop foreclosure with many of the nations largest lenders. If you can afford your home and have had a hardship that is now over and want to get back on track contact us today for loan modification help.

Options available for loan modification:

A loan modification is the changing of one or more of the original mortgage terms in order to help homeowners bring a defaulted loan current to prevent foreclosure. Loan modification options are:

If you need loan modification help contact us so we can help save your home. We can help stop foreclosure

 

How to qualify for a Loan Modification
by Foreclosure Help
Filed under: qualify for a loan modification

Do I qualify for a loan modification

In many instances a homeowner is set up on a forbearance plan prior to completing loan modification which allows a mortgage company to monitor the financial condition of a homeowner during the special forbearance period to be sure the homeowner will be able to make payments to the lender. There are important documents required that are reviewed by a mortgage company.

Hardship Letter:

To qualify for a loan modification homeowner must have a valid hardship. The hardship must be documented and given as many details as possible to support your case. A hardship letter is very subjective and pretty much a formality in the process of getting a mortgage modification. There are a few hardships that are considered voluntary and do not qualify, quitting a job or reducing the amount of hours worked are typically not accepted. The hardships are documented and if there is an additional default the homeowner can not use the same reason for default otherwise their previous hardship was really not over and in many instances the |homeowner is denied a loan modification.

Financial Statement:

The financials are used to determine the homeowners ability to pay. This is usually the first form reviewed by the mortgage company negotiator. This document must clearly indicate monthly income and expenses as well as current assets and liabilities. This is what makes and breaks the entire loan modification review. This document also shows whether or not the mortgagor will be able to make payments if the mortgage is modified. There must be a surplus income at the end of the loan modification or else the plan will be denied. The plan must be affordable. If a homeowner is severely over-leveraged with debt there is little chance that a loan modification will cure the delinquency. Monthly expenses are reviewed to determine what bills are necessary and what are unnecessary. Necessary expenses are food, utilities and gas and an example of unnecessary are entertainment expenses, expensive phone plans and unsecured debt. Household expenses mortgage payments, utilities, and taxes take up most of the monthly budget. Do not make expenses look unreasonable will be a red flag to get further detail. The negotiators will always look for assets that can be liquidated.

Proof of Income:

The proof of income is usually a paycheck stub, a P&L Profit and Loss Statement if self employed, or checking account statement showing paycheck deposits. The proof of earnings is required to prove the homeowner has steady income. The mortgagor must also give frequency of pay. The proof of income must correspond with the income shown on the financial statement. Resolve any discrepancies

Part One in our Loan Modification Help series

 

interest rate getting ready to go up with American Services
[July 22, 2008]   by Foreclosure Help
Filed under: interest rate going up

If you are facing a rate adjustment with American Services do not go it alone. We have helped many homeowners that are facing a rate adjustment get a loan modification. We offer loan modification help but if you are not able to afford your payment whether out of work or what ever reason we are working with a reputable company that can stop foreclosure with a short sale. We do not help with short sales we focus on saving homes from foreclosure. Contact us if you need loan modification help and we will jump into action for you. Do not go it alone and have the mortgage company set you up on a plan you can not afford.

 

Can my foreclosure be stopped
[July 21, 2008]   by Foreclosure Help
Filed under: Can foreclosure be stopped

We get that question many times everyday and the only way to answer that question is to contact us. We will go over your financial situation and requirement and assist you in making an informed decision. We have helped stop foreclosure nationwide and want to help you also. If you have had a financial hardship but now back on track we have in many instances gotten a loan modification for many homeowners in foreclosure. If you need loan modification help we can help stop foreclosure with a loan modification. If you just want to sell because you can no longer afford and your home or just tired we have found a company that can offer short sale help. Before you make any decisions contact us and we will give you the opportunity to make an educated decision about your potential foreclosure.

 

Loan Modification with Ocwen
[July 16, 2008]   by Foreclosure Help
Filed under: Loan Modification Help with Ocwen

If you are facing foreclosure with Ocwen Mortgage we can help. We have helped many homeowners save their homes from foreclosure with a loan modification with Ocwen Mortgage. We are very interested in stopping your foreclosure with Ocwen and we all lose if there is a sheriff sale or auction on your home. We have helped many homeowners stop foreclosure with Ocwen and urge you to contact the professionals in foreclosure help with Ocwen Mortgage. Do not trust just anyone with your home to stop foreclosure. If you can no longer afford your home we have found a reputable company to offer short sale help. Below are homeowners that have contacted us foreclosure help.

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Stop foreclosure in Los Angeles

I have been approved for the mod program @5% for 30 yrs I had a neg am loan that was a 40 yr loan that peaked 110% so my payments went to 2668.00 to 7889.00 a mo. I wanted the bank to make the loan a 40 yr @ 5% so my payment would be even lower. Ocwen already received my new loan papers but I haven’t sent them back b/c I want them to offer me a option of extending the life of the loan from 30yrs to 40 yrs. Also I wanted them to pay my property taxes that are a year late at the back end of the loan. I need a  Loan Modification with Ocwen

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Stop Foreclosure in Miami

I am currently in a pay back program with mortgage company.  I have about 6 years remaining on mortgage.  The payments I am currently making to save home are hard to make.  I would like to refinance to 15 yr mortgage to help us to straightened out. Ocwen Mortgage.  yes we can make mortgage payments.  We had several things happen over the last 2 years that caused us to get behind on mortgage.  foreclosure help with Ocwen

 
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