Archive for the ‘loan modification programs’ Category
Fighting foreclosure in the last two years has been the number one issue for homeowners. Homeowners are losing their homes in record numbers. Therefore, how can homeowners survive foreclosure? What are the foreclosure time line and the reasons for foreclosure?
Foreclosure is a legal solution to a contract breach by the homeowner. To cure the problem both parties (bank and the homeowner) must decided upon a solution. If there is no agreement reached between the homeowner and their lender then the lender is forced to act on their own with foreclosure being the end result. Fedral government has regulations in place to protect the homeowner by requiring the lender to prove that they have tried to work with the homeowner. This can come in the form of loan programs or loan modification. Disclosures in the form of written notices will be mailed to you the homeowner regarding a possible foreclosure. .
The lender sometime use a loan servicer to help as a go between to help move the foreclosure process along. This could be a benefit as well a problem. The servicer really could stand in the way of the homeowner not getting the best deal from their lender. So if you find yourself in this position you must be careful when negotiating with your Loan Servicer. The servicers are the ones who move the file to the attorney. Recently some home owners fighting foreclosure have challenged their law suit under the legal question: has to who really own their mortgages? What they found in over 80 percent of the case the lender the mortgage note is not the one filing law suit against them. In fact in some case the note can not be established, that is why fighting foreclosure make sence for the homeowner.
What some of the reasons motivating homeowners to continue fighting foreclosure ? Well consider this : you might come out of it with a lower mortgage rate and lower payment. This fight could protect your equity or the investment that you made into the home when you purchased it and over the years.
george Haughton
http://www.articlesbase.com/mortgage-articles/fighting-foreclosure-686439.html
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http://tinyurl.com/lifelockID - he Obama administration is also doing its part to keep homeowners from foreclosure. They are putting $50 billion into a loan modification program designed to work with lenders to lower people’s mortgage payments.
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Our software solution is one of a kind. We offer you the ability to toggle between different types of services such as Loan Modification Processing, Debt Settlement Origination (Soon to be released), Mortgage CRM (Soon to be released). The capability to switch application modes, you could service your client if they are in need of a loan modification and/or debt settlement and/or mortgage refinancing. This way, your staff is capable to handle the full line of products that your business has to offer. You could take advantage of this turn-key software to lower your cost on your current investment.
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Loan Modification Sales Origination Process
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Federal Compliance Check
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-Managed Logix
888.851.8089 ext 303
info@managedlogix.com
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