Here is another great article letting us know that banks DON'T want to help us. I can't tell you how many clients I talk to everyday that still think that the banks will help them. They don't understand the new plans the Gov't has rolled out. But hopefully they will understand sooner then later.
Banks urge senate to reject mortgage relief bill
Wednesday, April 29, 2009
Tuesday, April 28, 2009
Why You Need to Be Represented by a Loan Modification Attorney
This is a great article posted by a blogger here on blogspot. Definitly worth a read!
Why You Need to Be Represented by a Loan Modification Attorney
Consumers and 'so called' loss mitigation specialists are at a distinct disadvantage in the loan modification process. The reality is that most banks aren’t really willing to help you unless you have an attorney fighting for your rights. A Loan Modification Attorney is the only one who can get you the maximum results you deserve.
An Attorney Performed Loan Modification has a reported success rate in the 90th percentile when dealing with a qualified homeowner.
Attorneys usually have established alliances with the underwriters of all major lenders and understand servicer guidelines which are not typically shared with homeowners. These relationships allow them to negotiate more aggressively and get the best results possible. As a result, they are able to negotiate better loan modification terms such as reduction of interest rate, elimination of deficiencies, reduction in principal balance, and extension of terms.
Attorneys also tend to ensure their client's loan modifications are all pre-approved before they ever submit a client package to the bank.
In order to get the best outcome for your loan modification you want to be represented by the best professional, which in this case is a Loan Modification Attorney. It's the equivalent of having a CPA or Tax Attorney represent you during an IRS Tax Audit.
Why You Need to Be Represented by a Loan Modification Attorney
Consumers and 'so called' loss mitigation specialists are at a distinct disadvantage in the loan modification process. The reality is that most banks aren’t really willing to help you unless you have an attorney fighting for your rights. A Loan Modification Attorney is the only one who can get you the maximum results you deserve.
An Attorney Performed Loan Modification has a reported success rate in the 90th percentile when dealing with a qualified homeowner.
Attorneys usually have established alliances with the underwriters of all major lenders and understand servicer guidelines which are not typically shared with homeowners. These relationships allow them to negotiate more aggressively and get the best results possible. As a result, they are able to negotiate better loan modification terms such as reduction of interest rate, elimination of deficiencies, reduction in principal balance, and extension of terms.
Attorneys also tend to ensure their client's loan modifications are all pre-approved before they ever submit a client package to the bank.
In order to get the best outcome for your loan modification you want to be represented by the best professional, which in this case is a Loan Modification Attorney. It's the equivalent of having a CPA or Tax Attorney represent you during an IRS Tax Audit.
Quote of the day
“If you want to achieve widespread impact and lasting value, be bold.”
Howard Schultz (1953 – )
American entrepreneur, chairman of Starbucks
Howard Schultz (1953 – )
American entrepreneur, chairman of Starbucks
Friday, April 24, 2009
This is What Happens When You Wait Till the Last Minute
This is what happens when you wait too long before you contact me. This person didn't want our services and claimed we couldn't help her. She also told us that there was Government money ( that was free) and that will help her. I told her if she finds it let me know. 2 months later she faxed me this document (pictured below) about what her bank offered her. PLEASE read the verbiage in the first paragraph.
..."Take advantage of our generous offer." Generous offer???!!!
They raised her rates to 9.125% with a monthly payment of $2,000 ! $2,000 for a $200,000 loan? That's absolutly ridiculous!
That worst part was even after Litton offered her this "generous offer", she still didn't want to pay our attorney's to help her save the house. I brought this up simply becuase she called me the other day to let me know that she was served a notice of foreclosure. I told her I can still prevent the forclosure and possibly lower her payments, lower her interest rate, and make her current on her loan. She said she didn't have any money, she is just going to walk away from the property.
PLEASE DON'T LET THIS HAPPEN TO YOU
BE PRE-EMPTIVE AND TAKE ACTION AGAINST YOUR LENDER
..."Take advantage of our generous offer." Generous offer???!!!
They raised her rates to 9.125% with a monthly payment of $2,000 ! $2,000 for a $200,000 loan? That's absolutly ridiculous!
That worst part was even after Litton offered her this "generous offer", she still didn't want to pay our attorney's to help her save the house. I brought this up simply becuase she called me the other day to let me know that she was served a notice of foreclosure. I told her I can still prevent the forclosure and possibly lower her payments, lower her interest rate, and make her current on her loan. She said she didn't have any money, she is just going to walk away from the property.
PLEASE DON'T LET THIS HAPPEN TO YOU
BE PRE-EMPTIVE AND TAKE ACTION AGAINST YOUR LENDER
Thursday, April 23, 2009
Educate Yourself About Loan Mods.
Click on the title for some links that will educate you on whats currently going on currently in the media. I also read this great article today.
Wednesday, April 22, 2009
Loan modification and Foreclosure Article from CNN
-CNN Article about Megan Cavallari
Erin Lincke ( co-worker) tried contacting Megan Cavallari as soon as she read this article and we were already too late. Our job is tough knowing that we could actually go door to door with this Resolution program and help everyone facing foreclosure. Unfortunetly, we can't get infront of the 6 million people faciing this growing problem.
Erin Lincke ( co-worker) tried contacting Megan Cavallari as soon as she read this article and we were already too late. Our job is tough knowing that we could actually go door to door with this Resolution program and help everyone facing foreclosure. Unfortunetly, we can't get infront of the 6 million people faciing this growing problem.
Subscribe to:
Posts (Atom)
