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Posts Tagged ‘loan modification’

Did You Receive An Eviction Notice? Don’t Do Anything Until You Read This.

November 22nd, 2018 Comments off

Recently, Monique had the following question about an Eviction Process:

“I have six months not paying my mortgage, and I am worried about it. My question is if the sheriff can take me out with my family anytime now?”

Answer: It will depend in your state. Some states are under a Judicial foreclosure and others under a Non-Judicial foreclosure system. You may want to understand the Foreclosure Process and the Eviction Laws of your state. Look at foreclosurelaw.org

First of all, check the following points that are very common in a FORECLOSURE PROCESS for many states, although every state use to change the names for each one:

1. In Default.- (30 to 90 days late)

2.- NOTICE OF DEFAULT: At 90 days without making a mortgage payment, you will receive from your lender a notification called in many states as Notice of Default. It will say that your lender will send your home for sale if you don?t pay what you owe.

3.- NOTICE OF SALE: Generally at 120 days late on your mortgage, a Notice of Sale will arrive at your home from a lawyer or a trustee telling you what day and what place will be the auction of your home. You still have the option to negotiate your situation.

4.- FORECLOSURE: After receiving the Notice of Sale your home will be sold in a public auction from two to eighteen months later, depending in your state. This entire period any homeowner can legally continue living into the property without making payments.

5.- PERIOD OF REINSTATEMENT: If your house was foreclosed, you still have a chance to find a loan to buy this property again. For this intention, many states allow you to have a Reinstatement Period on which you can also stay making no payments covered by law. NON-JUDICIAL system states dont have this rule.

6.- EVICTION: Following the foreclosure sale, or the end of the reinstatement period, you will be reached by the new title-holder of the property asking you to leave the property. If the property was bought back by the same lender, they may give you some money to leave the property clean and in good condition (this is called Cash for Key). If you don’t leave, after 30 or 45 days they can start an EVICTION PROCESS AT COURT. The Judge will send you an EVICTION NOTICE including the date when you must leave. If you dont leave that day, the sheriff will go to the property to take you out and change the locks. If they lock the doors with your belongings inside, you cannot take them out anymore.

Don’t forget you have legal rights. Homeowners can stay rent free into their home until receiving an official notice from court. See your eviction laws.

NOT EVEN A SHERIFF CAN TAKE ANY HOMEOWNER OUT FROM HIS HOME WITHOUT THIS NOTICE FROM COURT.

There are a lot of states allowing homeowners to stay into the property up 18 months without making payments to their mortgage. You need to check the laws of your state.

YOU WANT TO AVOID FORECLOSURE. Learn how to do it.

Specifications: You have to understand I?m not an accountant, or a lawyer, or a tax analyst giving you tax, financial or legal advice. These suggestions are not a substitution for the outlook of a knowledgeable attorney. Nevertheless I?m a Financial Instructor in Arizona doing Business Coaching, Marketing Coaching, Real Estate investments, Credit Repair, Foreclosure Prevention, Residential and Commercial Loans, Mortgage Training and Origination since 2002, I dont declare Im giving legal guidance in this piece of writing to your exact circumstances. This writing was created to inform homeowners in mortgage stress. This writing should be not interpreted to be legal advice for your own conditions. This writing is only for individual information. Under no conditions this article should be understood as a legal advice to market, purchase or keep any house.

About the Author:

Credit Issues and Loan Modification

May 24th, 2018 Comments off

For people, who owe higher mortgage payments, a loan modification program comes as a blessing. In fact, individuals, who are on the brink of home foreclosures, can also relieve themselves from further misery by applying for a home loan modification program.

There may be credit ramifications during the foreclosure process.

The banks do not grant much mercy to those who do not pay their loans back. Especially when you are paying all of your other bills and leaving the mortgage out.

Those with higher credit ratings can expect a fall in their ranking, if they repay late say by 30 days or maybe even further to get a modification on their loans. This can lower their credit ratings by hundreds of points.

A reduction in your credit may jeopardize your chances of getting favorable credit rates in the future.

The good news is a loan modification may help you lower your monthly household bill.

With a reduction in housing payment, and lowered household payments a loan modification can help you get your finances back on track and lower your outstanding balance without defaulting.

A late payment does not have the long term credit implications like a short sale or credit counseling.

Save your home and prevent your credit from being destroyed. Avoid foreclosure and consult with your loan modification representative to help you get qualified for loan modification and discuss the pros and cons. Make sure that you properly research the loan modification company that you plan on working with. Some important documents to gather include, your last two years tax returns, w-2s for the last two years, recent bank statements, last two pay stubs, a hardship letter and a financial statement that lists all of your monthly expenses minus your monthly income.

Modified Mortgage Solutions are experts in loan modification processing, and an authority in loan modification processing questions.Please contact us with any questions www.modifiedmortgagesolutions.com

If I Am Not in Foreclosure, Do I Need a Forensic Loan Review?

October 8th, 2014 Comments off

A Forensic Loan Audit helps with commercial loans as well as a residential loan. If you have been turned down for a loan mod then contact a Tila Solutions Consultant. You do not have to wait to do an audit as a means to stop foreclosure. Get it before foreclosure even begins! If you are nearing or are in foreclosure, a Tila Consultant can help. They can also help people who are current on their loans or those with investment properties.

Banks operate to make money and they treat you well as long as you are helping them to make money. If you aren’t, then you are “not their kind of client”. The only relationship you ever will have with the bank is based upon how well you give them the money that you agreed to. The lender does not consider any financial hardship as a good reason to give you a loan modification-mostly they ask for a “hardship letter” to see if you have recovered and thus maybe give them money again. Their only interest is in seeing the loan they gave you resulting in a monthly payment made on time.

When a homeowner is rejected for a loan modification by his lender, a Forensic Loan Review is the critical first step that he or she should take to resolve the situation. A homeowner does not have to wait until he needs to stop foreclosure to get a Loan Audit done. In fact, the wise homeowner does not approach his lender to request a loan mod until he has his forensic loan audit completed.

What is interesting is that a violation-free loan, normally can withstand any hard times you may experience during the life of the loan.

Tila Solutions is an Audit Company that investigates loans. If you have a predatory loan, you will need a Forensic Loan Audit. If you feel that there was any kind of “oddities” or pressuring to get you into that loan, then you should have it audited.

There is a large body of laws that were passed to help prevent you from getting a predatory loan – which is a loan that heads you straight to foreclosure. Do you remember the day you got your loan? Do you recall reference to TILA, RESPA, HOEPA and ECOA? These are the laws that guide lenders and ensure they give you a loan that is in your best interest – they help prevent you from getting a predatory loan. They make sure you understand what you are getting before you sign, and give you a choice to rescind. Also, Tila Examiners often find fraud in these loans.

Tila Solutions Examiners will methodically go through your loan and locate all the violations and as you can imagine, your lender then loses much firepower against you! He no longer has the ability to pursue other money-making routes if the loan contains federal violations or fraud.

A Mortgage Audit also called a Forensic Loan Review or Forensic Loan Audit is an actual investigation or a detailed examination of the loan that the lender created issued to you. The audit is done to find all the Federal Laws that the banker violated.

Homeowners cannot forget that it was their lenders who lied to them when they gave them the loan, and it is their lenders who are still lying to them. Tila Negotiators work on behalf of the homeowner to make sure that you get your loan modification.

Once the Forensic Loan Audit is completed, you need somebody on your side who can get something done with it! Some lenders, who often seem to operate above the law, have actually told homeowners that the Forensics will do them no good and that the homeowners just wasted their money! This is completely false. There are thousands of reports of bankers pushing borrowers around and misleading them all over the internet – Tila Negotiators know how to get you the best possible result and avoid all those misconceptions.

There is a homeowner hotline at Tila Solutions that you can call. Their consultants will interview you and help you identify whether or not you should get your loan investigated. Some reports are saying that as many as 6 million homeowners today have a predatory loan. A Tila Solutions Consultant can help you determine if your loan is in need of a Forensic Loan Audit. They can help you determine if the Forensic Audit may help stop foreclosure, avoid foreclosure or just ensure that you do get that loan mod.

That is why Tila Solutions offers a free service to help negotiate new terms on your behalf you’re your investigation is completed.

You can save your home with a Forensic Loan Review! Call a Tila Solutions Consultant at 1 — 3 0 7 — 4 5 9 — 0 2 3 2. The Tila Solutions website is amassed with information and solutions. Visit http://www.tilasolutions.com/ for a Forensic Loan Audit and the free negotiation service offered by Tila Solutions.

Tags: Mortgage Audit, Forensic Loan Audit, Stop Foreclosure, Tila Solutions, Tila, Forensic Loan Review, predatory loan, loan mod foreclosure, mortgage fraud, Loan modification, foreclosure information, short sale, 2 stop foreclosure, Fraud, Loan Modification

Your Lender is Not Your Friend

August 7th, 2014 Comments off

Once you have missed a payment the lender is not your friend.  Missed payments equal more money for the lender.  The more the lender gets, the happier he is.  The best way for the lender to get more money out of you is to increase your monthly payment through accrued interest from late payments or missed payments, late fees and penalties.  It is a real money maker for the lender.  This has always been a fact and all homeowners know it and accept it.

Where the problem currently lies is that the homeowner has been led to believe by both government campaigns and lender lies that the lender is actually going to help him – the homeowner, who has fallen behind.  The lender is not going to help you – unless there’s money to be made in it for him.  Enough money to make it worth his while – and that means he will actually pretend to help you.  In fact, the lender will just string you along with false promises and pretenses for months and months and months, finally you’ll end up in foreclosure and possibly lose your home to public auction.

You, the homeowner have always been nothing more than a loan number to the lending institutions.  Sadly, that’s all you’ll ever be.  They’re not particularly moved by the fact that your child has special needs, or your mother needs extra care.  They don’t really care that your spouse lost their job, or that the home has been in your family for six generations. In fact they have no interest in any of the aspects of your life.  The equation is simple:  Your money or your home.

What matters is that your loan number has fallen behind and now you are on the very-profitable-for-the-lender road to foreclosure.  Soon they will either get a large, normally uncontested “chunk of change” from you-who-represents-your-loan-number, or they’ll get your house – which secures your loan number.

Sure, they have seemingly courteous people on the phone (well some of them do, others use call centers in India or hire brutes to scare, manipulate and threaten you), all who say “stop making your payment and we’ll get you a loan mod,” or “we can’t help you until you are three payments behind,” or we have you in the system for a loan mod, now it will take only 4 months to get you a mod (of course it actually turns out to be 13 to 18 months because they are always losing your paperwork).

Why does a process as simple as a loan mod take so long?  Because every missed payment is more money for the lender.  Did you know that almost half the homeowners manage somehow to cure their default amount to prevent foreclosure from starting?  Sure, but they wiped out every financial resource the homeowner had, and once again, he can’t make his monthly payment!

The homeowner is back in default and on the road to foreclosure in no time at all.  Meanwhile the lender made a nice sum and gets to go for round two.  The only route left to save the home is bankruptcy – most homeowners think—so they destroy the rest of their credit and dignity in a last ditch effort to save their home.  It bought them a bit of time, but it seems the lender still gets the home in the end.

What started all this?  Rather, who started all this?  It was the lenders themselves.  That’s correct, they gave you loans designed to fail.  They’ve made billions of dollars at your expense.  That’s why it is predatory lending and predatory servicing.  Since the day you got your loan you have been preyed upon.  You have been told that this is “all your fault,” and the government has “tried to comfort you” with promises of help through President Obama’s HAMP program.  That, of course we all know now, is just a great big joke.  Most people only give money to the lender for months on end, while none of it goes to their loan, then they get disapproved and foreclosed upon.

And it seems to so many homeowners that everybody is in on their pain for the lender’s gain.  Attorney’s won’t take on the homeowner and fight for him when the lender will pay him well to foreclose.  Judges don’t really want their courtrooms clogged up with foreclosure cases, so warehouse them through.  Lenders ‘warn” homeowners not to get professional help, ‘cuz, well you know, “the lender will help you for free”, yah, sure we all know that lie by now.  And saddest of all:  politicians are passing laws that prevent homeowners from hiring professionals to help them get their loans modified!

But there is hope, and there is help.  Rockingham Associates is there for the homeowner.  They conduct forensic loan reviews which reveal all the violations in the loan the lender gave you.  They conduct predatory servicing investigations, which reveal all the predatory acts the servicer has committed against you.  They use those investigations as the springboard to getting you successful negotiations.  Lenders suddenly would rather modify your loan, than deal with investigations.

Homeowners don’t have to stand alone, they don’t have to be abused and preyed upon.  They just need a professional on their side and that would be the good people at Rockingham Associates.  Visit their website at www.rockinghamassoc.com to learn more about this company and what they can do for you.  They are busy rekindling the American Dream.  Their goal is to get you complete financial recovery.  Consider contacting one of their representatives to begin to unravel your financial dilemmas.

Tags: lender, late payments, default, homeowners, Foreclosure, Loan Mod, Loan Modification, Predatory Loans, Predatory Lenders, Credit Scores, Foreclosure, predatory foreclosure, bankruptcy, Rockingham Associates, Rockingham, borrowers, HAMP, HAMP Program, Obama Plan, Bankruptcies, Predatory Servicing

Predatory Servicing Practices are Causing Many to End up in Foreclosure

June 10th, 2014 Comments off

Thousands of people are losing their homes to foreclosure or filing bankruptcy to prevent the loss of their home through foreclosure every month. In fact, recent reports from industry insiders are claiming that there are more than 7,000 bankruptcies being filed each day, while some have projected that big banks like BofA and Wells Fargo could be releasing as many as 25,000 homes to foreclosure proceedings by December of 2010. In many instances homeowners have been led down a not-so-merry path, often being told that their home is under review for a loan mod, which inevitably is denied, as a foreclosure auction date is sent to the homeowner.

The Obama plan (HAMP program) has taken hit after hit for failing to actually save homes. In a recent news article put out by the Huffington Post, entitled Extend and Pretend: The Obama Administration’s Failed Foreclosure Program, the Obama Plan is described as doing nothing more than putting off foreclosures, allowing the banks to appear financially healthy because they can carry the full value of the loan, and not record any loss.

This has been identified as a stabilizing act for banks and the housing market, but not for homeowners. They are left for months, even years wondering if they will lose their homes to foreclosure, when the sheriff will come knocking on their door, or if they will have to destroy the rest of their already distressed credit by filing a bankruptcy.

Rockingham Associates is a company that investigates loans and investigates lenders. Borrowers have federally protected rights. Rockingham Associates has a long history of helping borrowers gain an advantage through investigative techniques.

People with predatory loans normally end up with predatory servicers. The banks are doing what is best for the banks, which has always been the case. But this time in an effort to save their own bottom lines they have betrayed the American public, strung them along, taken money from them under false pretenses and finally taken their homes.

Homeowners who are seeing what the banks are really up to contact Rockingham in record numbers to get their lenders and their loans investigated. They use the results of these investigations to show the bank that there are laws which have been broken by the banks.

The Obama Plan was all about giving the lenders “incentives” to work with homeowners. Incentives don’t seem to work with the lenders. They’ll toss people who don’t even qualify for the HAMP program into the program, and then extract payment from them month after month after month, even though the program only required three payments during the trial phase. Then they tell them they don’t qualify, and complete or start foreclosure. The government paid them to do this. Sadly the Government continues to allow this predatory servicing to continue unchecked as the foreclosure statistics rise month after month.

What does work? Predatory Servicers seem to respond best to the force of the laws that protect homeowners or borrowers. Sadly, they spend their time threatening and abusing homeowners preying upon the homeowners fear of loss, while then doing a 180, and becoming the homeowners “best friend”. It seems when you start showing the lender “the goods”, he then realizes that you did qualify for a loan mod after all.

If you are tired of being a victim of your predatory lender, and tired of being lied to, and you truly think that you should be able to save your home, then you should consider contacting the people at Rockingham Associates. They are the experts who save homes.

Consider contacting one of their representatives to begin to unravel your financial dilemmas. Visit their website at http://www.rockinghamassoc.com .

TAGS: Foreclosure, Loan Mod, Loan Modification, Predatory Loans, Predatory Lenders, Credit Scores, Foreclosure, predatory foreclosure, bankruptcy, Rockingham Associates, Rockingham, borrowers, HAMP, HAMP Program, Obama Plan, Bankruptcies