Posts Tagged ‘short sale’
First Public Event - loan modification, Short Sale, Foreclosure, Tax & Legal Ramificaiton. Free Homeowner Workshop: April 18, 2009 - Saturday - San Jose www.RescueCaHome.com or Call 408-930-1200.
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loan modifications are all the rage, even if you aren’t behind on your mortgage you may be able to get you loan modified by a law firm that has a 97% success rate in doing them. If you are behind a loan mod can save your home from foreclosure.
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http://www.60minuteloanmodification.com loan modification expert Mike Rockwood says he will pursue more aggressive loan modifications for his clients in light of Pres. Obama’s statement on loan modifications. Rockwood says that means he will push for lower interest rates and even principal reductions for clients.
For a free CD on Author Mike Rockwood’s experience modifying 5 of his own home loans - and how you can too - please visit our Website at http://www.60minuteloanmodification.com
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(Click “More Info” to see full video script!)
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.
So much power and so little accountability! These lenders have dirty secrets that they wish you did not know. Knowing these will help you negotiate a better modification and KEEP YOUR HOME!
There are no rules!
By that I mean that street-smart homeowners should get on the bleeding-edge of this loan mod frenzy. The pioneers are getting extraordinary values. Whenever a big trend overwhelms and industry there is tremendous advantage that goes to the innovative and courageous. For many months I have been advising clients to pursue an aggressive loan mod solution, even when prospects seemed dire. I have been amazed at the results.
So, be brave, be intelligent and be diligent. You will prevailat least for now.
Most fees are bogus.
When you look at the amount a lender claims you owe them, you might be surprised at how large that number is. If you miss 4 payments of $1000 each, why don’t you owe $4000? The answer is late fees and penalties. The problem is that all of these types of fees have to be justifiable, and completely spelled out.
Most loans have RESPA and TILA violations.
Up to 70% of the loans currently in effect have RESPA and TILA violations. This means that the Real Estate Standards and Procedures Act and/or the Truth in Lending Act was violated when your loan was originated. This gives you recourse up to and including the hypothetical invalidation of the loan itself! Talk about leverage when attempting to negotiate!
You have a right to a timely and thorough response to your written inquiries. Banks wish you never heard of a Qualified Written Request.
Under Section 6 of RESPA is a requirement that lenders must acknowledge your inquiry within 20 days and respond thoroughly to your inquiries within 60 days. This request for a modification, there is a way to hold their feet to the fire. By sending a qualified written requestsuch as your hardship letter, request for additional concessions and request for itemization of feesyou force the banks to respond in a timely manner. This gets you priority in an overworked/ understaffed loss mit department.
Principal Reductions Are Possible.
Yes, it is true that principal reductions are the most difficult thing to achieve when negotiating a loan mod. Some banks however, would have you believe that they simply are not possible. That is a lie.
My clients have successfully negotiated principal reductions, even for investment property. The key is to have an intelligent proposal and be bold and persistent.
The first offer is always unacceptable!
Most people attempting to do their own loan modification are uninformed. Most own only one home, and haven’t had a lot of opportunity to hone their skills at modification. The lenders know this. They rely on it.
When you receive your modification offer, you must remember that it is the minimum that the lender is able/willing to do. They are driven to minimize THEIR loss, not yours! Ask for additional concessions in a Qualified Written Request very shortly after getting your mod offer.
For more info visit me at http://www.60MinuteLoanModification.com
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Freedmont Mortgage CEO Carl Delmont explains how popular “loan modification” programs are often scams that are too good to be true, and how “short-selling” your home could give your bank the ability to garnish your wages.
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Commercial Loan Modification
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877-227-2000 ext. 5
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Focused on empowering agents to deliver flexible loan modification solutions to the Commercial real estate market.
Look around Most buildings are upside down in this distressed market place.
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Song: Right Here, Right Now - Fatboy Slim
Duration : 0:2:54
http://www.firstloanadvice.com
The main goal of this video series is help you negotiate a successful loan modification with your lender, however there is no guarantee your lender will modify your loan.
You could fall into one of the following categories: Short Refinance, Forbearance
Agreement, Repayment plan, Deed in Lieu of Foreclosure, Short Sale and/or Cash for Keys. Please visit our website and download a copy of terms and definitions.
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http://www.firstloanadvice.com A loan modification is when the lender modifies your current mortgage in order to work with you because of a hardship. The purpose is to help make your loan more affordable. Usually it is in the form of a rate reduction and fixing the rate for a certain amount of time. In the past this was only used when a borrower was delinquent and suffered a hardship such as a job loss, divorce, illness etc. Now borrowers can obtain mortgage help from their lender for unaffordable rate adjustments on adjustable rate mortgages.
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http://www.firstloanadvice.com At UpsideDownFlorida, we work with your lender(s) to accept a loan modification so you can get a low fixed payment you can afford, avoid foreclosure and truly enjoy the benefits of home ownership. For all the homeowners who are upside down and can no longer make their mortgage payment (because of either a job loss, divorce, or an option ARM that’s resetting higher), up to now the only option was letting the bank foreclose and walking away.
Let UpsideDownFlorida help you stay in your home with payments you can afford.
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Lenders do not want your home or the hassles and costs ociated with foreclosure. Global Mortgage Financials are experts at negotiating with your bank or lender.
for more info visit: www.gmfinancials.com
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