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Archive for September, 2008

Can I get a loan modification if I am not behind on payments

Good news the answer is yes. There are many lenders today that will allow a loan modification if you are not behind in payments. Although, I have been told different in many instances because you get differing information from different loss mitigation phone team employees. It is actually unbelievable the misinformation that is being passed along because of lack of training. Any time you are told information that seems questionable call back to get a different representative.

The problem, many servicers (mortgage companies) are overwhelmed with work. Work being phone calls on delinquent mortgages, loan modifications, repayment plans, short sales, deed in lieu’s, REOs and different outreach programs to help delinquent borrowers stop foreclosure. With the work load overwhelming the employees the servicers (mortgage companies) have had to hire mass amounts of employees that really get minimal training and thrown on the phone lines for support. These loss mitigation phone reps really do not intentionally give bad information they have just been under trained and put on the phones for support. There is a learning curve for this business and if they are not continually monitored by their supervisors and managers they can get in the habit of not looking up on their reference materials and “guess answers”. As you all know things change daily and there you have it misinformation about loss mitigation programs including a loan modification.

Who do I trust to stop foreclosure, if you were referred by a friend or family member that has been helped is probably your first choice. Then refer to the Better Business Bureau because there are many people that are out to give you false promises and others with no morals and taking advantage. We have helped stop foreclosure for many homeowners with loan modification plans and other loss mitigation programs available.

Back to the topic, if you are not behind in payments many lenders allow loan modifications. If you are in a case of eminent foreclosure, meaning you have or in the next 60 days will have an adjustment in your interest rate and will not be able to afford your payments, lenders will consider modifying the loan.We have had many homeowner contact us that were facing foreclosure and we were able to stop foreclosure before they were delivered foreclosure paper. You just need to know while in review for a workout the lenders loss mitigation companies will continue the foreclosure process.

Countrywide loan modification help, American Servicing loan modification help, Bank of America loan modification help, Chase loan modification help, Citi financial loan modification help, EMC loan modification help, GMAC loan modification help, Homecomings loan modification help, National City loan modification help, Option One loan modification help, Ocwen loan modification help, Saxon loan modification help, Wells Fargo loan modification help, Wilshire loan modification help, Washington Mutual loan modification help

Filed under: Can I get a loan modification if I am not behind on pay | |1 Comment

Do I need an attorney to do a Loan Modification

The long and the short is absolutely not. I have yet to find an attorney that actually worked for a lender in their loss mitigation department. If you are looking for a negotiator go to a professional that negotiates like you would go to a surgeon if you needed surgery. There are no certification nor attorneys required to work with homeowners facing foreclosure. Contact us we can help.
Here is how I see it when it comes to a loan modification with most attorneys. you contact a law firm and speak to their staff, phone operator. The case is taken by whatever means and a paralegal actually does the work. An attorney never even speaks (negotiates) with the lenders loss mitigation department. I am not saying every firm runs the same but here is something that may hit home, attorney fees. Well the choice is always yours, we do not use any scare tactics nor do we hard sell. We work with homeowners that need help and pre-qualify before we agree to take on any work. When we take a case you can rest assured that we will do exactly what we say we are going to do for you. We make no false promises and give you the facts from the start. You have to understand our negotiators came from the loss mitigation companies that they work with for you. We have on staff negotiators that worked as negotiators from some of the nations largest banks. Hire a competent professional and if it sounds too good to be true I would advise you to run. But back to the title you do not need to hire an attorney to modify your loan. I would advise to contact a reputable loan modification company, a company that can stop foreclosure and save your home.

Filed under: Do I need an attorney to do a Loan Modification | |3 Comments

New York City Tax Increase

New York Mayor Michael Bloomberg, because of his fears on the financial crisis on a global scale is also affecting New York City’s economic well being, explained on Monday he is considering raising the property tax another 7%.

Mayor Bloomberg said the tax increase, would generate in excess of $600 million in revenue in 2009, the plan will require New York City Council approval, the plan would assist the city in a bad fiscal situation.

New York City is dependent on the financial services job market: there is an estimated 10 % of its tax revenue is created from Wall Street.

In conversations with news reporters at a conference this past Monday, Mayor Bloomberg agreed that a tax increase would be extremely unpopular, and also stated that New York City really have no choice.

“I said we will look at all the different possibilities, but I think the solution is a combination of expense reduction, which nobody is going to be happy about, and revenue enhancements, which nobody is going to be happy about,” he stated while he was at John F. Kennedy International Airport, he was there for the opening of the New JetBlue airport terminal. “This is not going to be a feel-good time.”

A tax increase which would eliminate the popular 7 % tax reduction included in 2008 budget will start to arrive in quarterly statements sent in December. It will increase taxes averaging from $308 to $358 annually for residents of New York co-ops or condominiums in buildings with 11 or more units.

For homeowners of single family houses, the tax bill will average an increase of $226 in 2009, according to the New York City Independent Budget Office.

Mayor Bloomberg has in the past siad the prooperty taxes would go up the city officials said they did not want an increase until July 2010.

Looks like New York is going to feel an additional squeeze. If you need foreclosure help in New York contact us today.

Filed under: New York City Tax Increase | |No Comments

How to get a loan modification

A loan modification is one of the loss mitigation programs offered by a mortgage company to avoid foreclosure for the homeowner and mortgage company. The loan modification is an agreement between the homeowner and mortgage company that is negotiated which can change the current interest rate or mortgage term. Mortgage companies are willing to negotiate when homeowners are facing foreclosure and can not afford to reinstate their mortgage. A homeowner must prove to the lender that they had a hardship which has been cured and can now afford a modified mortgage payment. After the review and a professional case is presented a mortgage company may be reluctant to reduce the current interest rate which will reduce the mortgage payment. A term extension is also an option that will reduce monthly mortgage payments.

The purpose for the loan modification is to create a win/win situation between the homeowner and mortgage company to avoid foreclosure. The agreement that is created is put in writing and must be signed. The new terms of the loan modification are listed on the loan modification agreement.

There are steps that need to be approached methodically to be sure the information submitted properly. Before contacting the lender about a loan modification you need to understand your financial situation, your income vs. your expenses. You need to sit down with a pen and paper and figure out home much money you make each and every month. The way we figure the formula is if you are a biweekly pay employee, take two most current paycheck stubs add the net on the check together and divide by two, the number is your average biweekly income. Take your average biweekly pay and multiply by 26 (biweekly pay periods in a year). Finally divide the number by 12, the final number is your average monthly income.

We have helped many homeowners stop foreclosure with a loan modification, below are a few.

City: Burlington
State: Wisconsin
stop foreclosure in Wisconsin
County: Racine

We faced foreclosure due missed payments and bad business climate in 2006-2007.  We brought acct up to date in April, but somehow still had a negative escrow balance which needed to be made up in monthly payments.  We were also in an ARM which adjusted in Jan and again in July.  I have tried exhaustively to work w/ ASC to bring our monthly payments down to a more reasonable level w/ no resolve or help.  Now, as of June, 08, I have re-established my chiropractic clinic separate from my former partner.  We are dealing w/ poor office collections as a result of the transition of computer software billing.  I have stopped paying the mortgage due to a combination of uncooperative from ASC and unavailable funds for my personal payroll (to keep my business accts intact).  Funds to catch up w/ the deficit should be available w/in the next 1-2 months. ASC Loan modification
ASC has been the mortgage company for the past several years. Americas Servicing Company

My wife was out of work for 6 months and my income alone was 600 per month less than our outgoing expenses. I had to shuffle bills in order not to lose everything. After my wife had found a new job,  I had made a payment plan with GMAC but accidently scheduled a second auto payment on the second month the payment was due. I had called to make amends the same day I had received a foreclosure notice from the law firm assigned as the trustee. They told me they would just send my payment back. The law firm said I had until Oct. 17 to come up with the resolution before my house gets a sale date. GMAC has taken my financial information for a 2nd time and has told me I wouldn’t hear anything for 6-8 weeks. I don’t have that much time. GMAC Loan Modification

Filed under: How to get a loan modification | |4 Comments

I Need a Loan Modification

Our Purpose: We have 5 key elements

  1. Reduce homeowners loss of home or expensive plans offered by lenders
  2. Increase our save numbers and loss mitigation workouts
  3. Help homeowner reinstate (via loan modification) and remain in home
  4. Help homeowners avoid foreclosure
  5. Help homeowners preserve their credit

Many homeowners say “I Need a Loan Modification”

If you are facing foreclosure you need expert support. We have helped many homeowners stop foreclosure when they need a loan modification to save their homes.

Do I qualify for a loan modification? - it depends below are some of the requirements

Acceptable Reasons for default:

Unacceptable Reasons for default:

Filed under: I need a loan modification | |6 Comments

Loan Modification with Ocwen

If you are facing foreclosure with Ocwen we can help stop foreclosure fast. We have many options to stop foreclosure and offer a loan modification with Ocwen.

below are homeowners we have helped stop foreclosure

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City: N. Las Vegas
State: Nevada
foreclosure help in Las Vegas
County: Clark

I have a home base online business that was doing particularly well up until several months ago, but since the economy fell so did my online sales.  I have been taking up loans to pay for my mortgage until I bleed the loans dry. I now have roommates that help with some of my payments but I still am coming up short.  My primary mrtgage company is American Serving Company which I owe about $235,000 and I second mortgage company is Ocwen about $55,000. I need Ocwen loan modification assistance and American Servicing Loan modification assistance

My wife has had 12 opperations since Jan. I was laid off for a short time.She is on Social Security Disability and draws 624.00 a month.She has used her drug insurance up for the year. Her meds are 100.00 a week. I draw 439.00 a week . Our payment is 834.00. We fell behind and they told me they were in process of a loan modification.They told me in June dont send any payments till you hear from us. Every time i talked to someone they would say its processing. I sent all financial statements and hardship letter to them. The next thing i know im served forecloseure papers. I go to a hearing and they set a sell date. The loan modification company is OCWEN. I refinanced in 2005. They have been very unresonable since they bought my loan. FORECLOSURE HELP

Filed under: Loan Modification with Ocwen | , , , , , , , , , , |3 Comments

what is a loan modification

Several families in the US today are facing problems with their housing loans. There is nothing bitter than our dream house turned into our worst nightmare. Compounding interest rates, high monthly amortization, and unreasonable payment terms are the common issues why they are facing these issues. Loan modification provides the solution for families in trouble with their housing loans. Settlements such as adjustment of interest rate, change in monthly payment and extension of payment term are the common things done. All these are done to prevent foreclosure of a property.

The increasing numbers of the same issue caused the government to be alarmed. They encourage lenders to offer loan modification to homeowners making it beneficial for both since foreclosure can be expensive. Formerly, this settlement was only done when a homeowner is delinquent with the payments. But today a lender offers this settlement to its members who may face possible delinquencies in payment.

The good thing about loan modification is the continued trust of the lender to the homeowner. Lenders allow homeowners to modify payments terms agreed that the homeowner can settle the account on or before the due date. Satisfied lenders can guarantee the lowering of monthly payment or extension of loan term. Through this, homeowners can now pay their dues with what they can afford without having to fear of losing their hardly earned investment.

Before applying for a loan modification a homeowner should at least know the policies involved. Applying for the right loan modification plan will result to a good investment. Homeowners should be prepared with the necessary documents to present to their lenders for fast approval of application. However not all our granted with this settlement since others do not qualify. To resolve, they sell their houses and make settlements with their lenders.

There are plenty of private organizations today dedicated to helping homeowners understand the benefits of loan modification With their expertise they can easily help homeowners settle their accounts with their lenders through loan modification They require fees for their assistance, but this sounds better than losing a home.

If you need foreclosure help contact us today we are the company that knows the business and interested in saving your home from foreclosure. Below are contact from homeowners we have helped.

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City: Denver
State: Colorado
stop foreclosure in Denver
County: Denver

i own this home with another owner as well we rent this home out however due to the fact that many renters are having difficulties paying rent we have had so many people in and out this has put us so far behind with the mortgage it’s actually my deceased parents home i had to add the other co owner on in order for me to receive the mortgage loan now my co owner went into bankruptcy about 3 years ago and we thought that the home was placed on there as well however we found out that its not which is another reason we did not pay mortgage, i really would like to keep the home however the mortgage company has given us so many chances to get it together that now there sick of us so there has been a threat to foreclose on the home or other obligations that they came up with which i don’t know that we can afford that at this time im just looking for answers as to where i need to go from here if i decide to sell i would like to get a profit out of it i think i owe about 30000 if i decide to keep would like the payments to go down also i need to pay the taxes and homeowners insurance on this property.  If we sell do you think we may receive any profit if we keep do you think we can get the mortgage payments lowered?If you can assist me please contact me as soon as possible. help with mortgage payments

City: Dallas
State: Texas
Stop foreclosure in Dallas
County: Dallas

Everything was fine until an unexpected court cost appeared and we also lost one major transportation which forced 2 members of the household to leave their jobs and now we had one source of income for a long time. Our situation changed in that one of us has recently got a job closer to home and the insurance company for the person who wrecked our transportation has reimbursed us enough to purchase another car which now allows us to get around and to our jobs. Our mortgage company is Litton Loan Servicing saving home from foreclosure

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we need foreclosure help

If you are facing foreclosure and want to save or sell your home we can help. Our company only focuses on helping stop foreclosure and saving homes. We have had so many requests to help stop foreclosure and sell fast we have found a company that can help. We looked far and wide to find a reputable company that can offers short sale help and found one. So no matter if you want to sell or save your home we can help. We know the stress that goes along with foreclosure. Everyone is bombarding you with calls, your creditors and other people in your area calling and stopping by your home. It is a crazy time and you need experience. We can help if you have had a hardship in your life but you have recovered from your hardship contact us for foreclosure help. Below are contacts that we have begun helping to stop foreclosure.

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City: San Antonio
State: Texas
stop foreclosure in San Antonio
County: Bexar

My husband was unemployed for about a month or so last year. I was only making 10.00 an hour and had to keep our son in daycare so, between daycare, car, house payment etc. we were unable to make all of our payments. We were keeping our mortgage company up to date on our progress. I called 2 weeks ago and explained a payment was on the way and that I would try to call the following week but, I was working late and they closed at 4pm PST. We get a financial form. I called to make sure they had gotten the payment we set and was informed that the following week we were put in a foreclosure status and the payment we sent would most likely be sent back. I’ve requested the amount to reinstate our loan but,we won’t get it until Friday. We can come up w/between 3000-3500.00 to help bring out balance current but, the person I spoke to said that it probably would not be enough. We can now keep our payments up to date if they would just reinstate our loan. We feel that almost half of the back balance should be enough to in the very least reinstate the loan and make payment arrangements. Any help would be appreciated.  our lender is Wilshire Credit Corporation. Our situation has changed. my husband has been given a promotion, I’ve gotten a better paying job, we are promised yearly raises and our day care expenses will start to go down in October and then again in March when Our daughter turns 1. We are on the road to getting completely back on our feet but, taking our house or ALL of our money will only put us back to where we were a year ago.  IF you can help us work out an agreement w/Wilshire where we can give them 3000.00 and make small extra payments(about 50.00 a month)to make up the additional 3000-3500.00 until our situation gets better (raises kick in etc)and we can put more money towards the back payment.  THey have offered payments of 1400 a month or more for this but, we couldn’t make the 900.00 of our usual payments, how could we come up w/1400.00 a month? we are more than willing to make our payments in full and on time but, we cannot come up w/that much every month for a back payment. I hope you can help stop foreclosure with Wilshire.

City: Las Vegas
State: Nevada
stop foreclosure in Las Vegas
County: Clark

I had an arm that adjusted from 6.5% to now 12.5%. I was working overtime in the medical profession but i have since lost 2 days a pay period in overtime that has cut my monthly income. I am also going through a divorce. I have lost 2 days of overtime every two weeks and a pending divorce has left me with more responsibilities. Can you offer a loan modification while in bankruptcy

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Countrywide Foreclosure Help

If you feel like you have been victimized by your lender, you need help immediately. We see many cases like these below everyday and lenders in many instances provide new affordable mortgages. If the foreclosure process has already started, we can help stop foreclosure. There are companies like ours, who specialize in foreclosure assistance with the lenders can provide help nationwide. No matter what you decide, make sure you get help immediately before you lose your home. Below are some case that we provide foreclosure help with Countrywide.

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City: Orlando
State: Florida
foreclosure help in Orlando
County: Orange

I am in foreclosure and they will be setting a date within 30 to 60 days, I am upside down on the property.
I got behind because of bills and an accident that happened which had to get the money to pay, I need loan modification assistance, Countrywide is foreclosing on me and not offering a loan modification

City: Fairfield
State: California
stop foreclosure in California
County: Solano

I am submitting this for my mother, but I do know that the paper has been taped to the door and the date has been set.  My mother is a widow and is currently using the home to house foster children ward of the State. It is a big mess and she really need to do something fast otherwise lose her home.

City: Fairfield
State: California
County: Solano

In June I got a divorce and my spouse no longer assisted with paying the mortgage.  I spent countless phone calls, faxs, letters with my lender trying to modify, refi, and/or defer payment to prevent foreclosure.  I have steady income–at the same company for 8.5 years. CountryWide Loan modification help

City: Denver
State: Colorado
stop foreclosure in Denver
County: Denver

We have an adjustable rate and we have missed one payment that originated in March. We have paid since. Anyway, we can’t continue to pay this rate. We have tried loan modification ourselves with Countrywide and were denied for no real reason. We tried refinancing with Chase, were approved, but with no luck because property values. Now we don’t know what to do. Every company has said they can help, but seem like scam artisits. We have had hardships due to the economy and a ballon rate mortgage

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Wells Fargo foreclosure help

If you feel like you have been victimized by your lender, you need help immediately. We see many cases like these below everyday and lenders in many instances provide new affordable mortgages. If the foreclosure process has already started, we can help stop foreclosure. There are companies like ours, who specialize in foreclosure assistance with the lenders can provide help nationwide. No matter what you decide, make sure you get help immediately before you lose your home. Below are some case that we provide foreclosure help with Wells Fargo.

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City: Danville
State: Virginia
County: Pennsylvania
Stop foreclosure in Virginia

we are trying to lower our monthly payment and haven’t been able to refinance our home it went adjustable in April. our interest rate was at 7.25 at a monthly payment of $1768.55 and went up to a 9.25 at a payment of $2021. my husband is the only one working and was making $2400. a month so you can see how we fell behind. He recently got a new job with the department of corrections and now is making $3839. a month but we are behind $6848.45 and need help we love our home would not want to lose it, so if you can please help us we do not know who else to go to. We need foreclosure help with Wells Fargo.

City: Phoenix
State: Arizona
County: MARICOPA
Foreclosure help in Phoenix

I have a renter property that is costing me $600.00 negative cash flow each month, I no longer can afford to keep that property. outstanding debt that my wife and I are trying to payoff, daughter attending college. The most disturbing thing is the property value in the Phoenix area has dropped dramatically. My Home received an  appraisal of $1,080,000 ~ year ago, now according to zillow the home is value @ $606,000 not to mention I’m paying ~$5120.00 month for he 1st mortgage. The Line of Credit company is working with me on the second …lowing the interest rate for ~ 18 months..without using a FICO score. Now they have a clue!!!! Help stop my foreclosure

City: Spring
State: Texas
County: Harris
foreclosure help in Houston

I need a loan modification with Wells Fargo, fell behind due to legal expenses in custody battle for child that I was forced into this year. This is the second time I have fell behind; the first time was due to unexpected medical expenses. I am in a repayment plan with Wells Fargo to get caught up but am not able to meet the payments until next month due to finishing up this custody battle.  The custody case is now over and I want to get caught up on the mortgage but the mortgagor is telling me if I miss a payment they will foreclose. Avoid foreclosure in Texas

City: Azusa
State: CA
County: Los Angeles
foreclosure help in Los Angeles

I had a divorce, and getting no support from my ex-husband, and I have 2 kids… My only source of income is internet sales of craft trims which is not doing very well at the moment. I have already received a notice of default.  I paid 96,000 down for this house. I am paying 3,000+ for the first mortgage and around $250 for the second which is still ok. I requested Loan Modification as early as July 21, at that time I already missed one payment. I didnt get anything, and then they had me resubmit the forms first week of August and then another one middle of August. Today they told me I am denied from getting a loan modification or forbearance. Wells Fargo Home Mortgage stop foreclosure

City: Lexington
State: Ohio
County: Richland
foreclosure help in Ohio

It is a rental property.  During the year of 2007 I had renters that did not pay rent for about 6 months and as a result I fell behind.  I was on a repayment plan with Wells Fargo but in Dec of 2007 they claimed that I did not make a payment but I had but they did not withdrawal it from my account and when I contacted them they basicly said there was nothing they could do.  Then in Feb of 08 I got a Foreclosure notice.  I contacted a company that was suppose to help but they have not anything but take $790.00 dollars from me.  I have renters in there paying $800 a month.  need Wells Fargo Foreclosure Help Ohio

City: Virginia Beach
State: Virginia
Stop Foreclosure in Virginia Beach
County: Virginia Beach

I had a loss of income and became behind on my mortgage.  I keep paying them, but by time I pay them 1 payment I am within a week due for my next payment so therefore remain 3 months behind all month until the end of the month and then a peyment is made.  I have to tried out the step to modify my loan with Wells Fargo and they tell me do not make any payments until decision is made.  I still think I am going to send in payments because I have researched on the internet and do not see anywhere any good news about a loan mod.  I am scared they will foreclose on me on the 27th due to me not have the full $4121.02.  I have $1500.00 of it but just cant get more than that right now. Help me stop foreclosure with Wells Fargo

Filed under: Wells Fargo foreclosure help | , , , , , , , , , , , , , , , , , , |4 Comments

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