Tag Archives: Homeowners

Aid for Homeowners in Default Might be Proper Beneath Their Noses According to a New Report

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Provo, UT (PRWEB) July 10, 2007

Numerous home owners who fall behind on their payments do not know that assist may possibly be accessible from the least most likely of places–their mortgage organization. Instead, they let their mortgage firm continue generating collection calls and sending letters till they finally foreclose on the property. Numerous mortgage companies offer two alternatives that involve operating with the homeowner to steer clear of foreclosure. These alternatives are explained in detail in a complimentary report ready by Your House Advocate especially for Utah home owners.

AmeriClose National Connects Distressed Homeowners, Realtors and Investors with an Revolutionary, Helpful Remedy to Foreclosure

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Tampa, FL (PRWEB) January 15, 2008

The current instability in the housing marketplace and the slowing of the economy has resulted in a substantial quantity of homeowners facing foreclosure proceedings. The good news is that this process does not always require to outcome in the loss of house – it can be stopped.

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“Distressed homeowners do have possibilities,” explained Joshua C. Cahill, Founder and Vice President of Operations at AmeriClose National Settlement Options, LLC. AmeriClose, a Florida-primarily based company specializing in foreclosure options and closing services, makes these possibilities accessible by providing guidance, info and an online national network that connects realtors and investors with distressed home owners.

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“What property owners require to understand is that aid is obtainable and that foreclosure is not inevitable when the proceedings have started,” added Cahill. “At AmeriClose, none of what we do is ‘out of the box.’ We treat each client individually, completely analyze the situation and come up with practical, satisfactory foreclosure solutions.”

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These options contain quick sales, deeds-in-lieu of foreclosure, forbearance, and loan modification to name a couple of. AmeriClose’s on-line national network is a platform mostly for investors and realtors seeking to pursue investments through quick sales. It permits them to reach out to distressed home owners interested in pursuing this foreclosure option.

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“For numerous, a brief sale is an appropriate selection and most lenders are normally open to this answer as it saves them substantial time and funds compared to finishing the entire foreclosure procedure,” explained Cahill. “Brief sales are actually a win-win circumstance for all parties involved.”

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AmeriClose tends to make the brief sale approach as hassle-cost-free as attainable. For property owners thinking about a quick sale as a foreclosure option, the organization will take care of all the particulars from gathering financial details to supporting the case to coordinating with the realtor, investors, title insurance company and attorneys.

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In addition to delivering certified leads to registered realtors and investors based on geographic preference, AmeriClose National’s Loss Mitigation department also assists those realtors and investors throughout the short sale process on details which includes contracts, agreements and bank negotiations.

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Cahill founded the organization right after figuring out that present industry circumstances referred to as for new and innovative solutions for sellers and all others involved in prospective foreclosure scenarios. An skilled real estate and title insurance coverage professional, Cahill provides clientele complete solutions by means of an on-line national network that also contains http://www.FreeTitleQuote.com and http://www.HomeLendingQuote.com two consumer- and realtor/investor-oriented national networks that empower purchasers to examine and select their own title insurance coverage provider and property lender.

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About AmeriClose National Settlement Options, LLC:&#13

AmeriClose National supplies peace of mind to distressed home owners by providing them options to foreclosure which includes deeds in lieu of foreclosure, forbearance and quick sales. Its online national network of specialists and solutions connects realtors, property owners and investors across the country so they can work toward a foreclosure answer that thoroughly positive aspects all parties.

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http://www.AmeriForeclosure.com

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Blogger Offers Free of charge Foreclosure Support On the web and 19 Homeowners Save Their Homes in the Process

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Corona, CA (PRWEB) February 13, 2008

By Leslie Berkman — Blogging at his laptop personal computer in Corona, Moe Bedard delivers cost-free foreclosure help on-line and coaches a team of 1,000 homeowners racing an obstacle course to save their houses from foreclosure.

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They have joined Bedard’s Web website, http://www.LoanSafe.org , founded in August as a grass-roots forum for homeowners who face the prospect of losing their houses to skyrocketing adjustable mortgages.

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“I feel people can assist each and every other via the foreclosure method. There does not have to be so a lot of foreclosures,” Bedard mentioned.

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Bedard, who previously sold Net site advertising for mortgage lenders, said he discovered that lenders were being inundated by requests from home owners who required to refinance out of burdensome mortgages but couldn’t qualify for new loans, usually since they didn’t have sufficient equity.

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A viable option that isn’t effectively-identified, Bedard mentioned, is for the homeowner to negotiate with the lender to modify the existing mortgage to make the month-to-month payment inexpensive. That can be done by lowering or freezing the interest rate or by extending the length of the mortgage. The term that is utilised in the market is, loan modification.

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To date, Loan Secure requires credit for helping members save 19 houses from foreclosure. Their stories are chronicled on the site, and Bedard said they are meant to inspire other folks.

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“It really is like getting an on the web coach,” Bedard mentioned of his role, which involves monitoring the Net website to preserve out unauthorized for-profit solicitors, answering concerns and giving encouragement and free foreclosure aid from five a.m., when clients on the Eastern Seaboard start to log in, until ten p.m.

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He said the site has gotten about 500,000 hits, and they preserve coming at a price of about 5,000 a day.

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Modifying a Loan

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The Web site is where individuals who use such sign-on names as luvmyhouse and madashell can anonymously vent their anger and worries in the course of the foreclosure procedure, share their experiences and cheer one an additional on.

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Bob Sweigart, of San Diego, mentioned he was one particular of the 1st to use the Web internet site as a tool to acquire a loan modification right after the interest rate on his 5.99 percent adjustable-price mortgage had jumped to 9.75 % and was set to enhance once more.

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Sweigart stated somebody at Countrywide Property Loans had interviewed him by telephone and determined he was “prequalified” for a loan modification, but then he heard absolutely nothing a lot more for six months. He made 40 calls to Countrywide but got no response.

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He stated he discovered on the LoanSafe Internet website that lenders are legally obligated to answer a letter, and one more Internet website member supplied essential e-mail addresses, like a single for Countrywide’s president, Angelo Mozilo.

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Within 24 hours of sending a barrage of e-mails to Countrywide, Sweigart had an agreement from the lender to push the interest price on his mortgage back to the low introductory price for 5 years, he stated.

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“I am 1 of the fortunate ones,” Sweigart said. “There are so many people out there who don’t have a clue. They do not know what loan modification means. I am on the Web internet site all the time helping individuals by telling them these are the steps that I took. Do what I did.”

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Government and mortgage business officials have repeatedly advised home owners to get in touch with their lenders as soon as they understand they will be forced to default on their mortgages when their introductory interest rates are raised.

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However, Bedard said home owners wanting to modify their mortgages routinely encounter resistance from lenders and loan servicing companies. He mentioned property owners are typically frustrated by the want to make repeated calls and to overcome repeated rejections and delays prior to reaching aid. The approach is particularly stressful for borrowers who have to act swiftly to steer clear of a loan default or a foreclosure sale.

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Bedard mentioned he understands that lenders are deluged with a lot more requests than they can effectively deal with. They are also reluctant to grant concessions to borrowers who may be capable to make a larger mortgage payment.

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Get in touch with Information

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A check out to the LoanSafe Net site can show the phone numbers of government-authorized counseling services and the phone numbers and e-mail addresses for lending organizations.

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As opposed to other foreclosure-prevention solutions on the Web, Bedard stated, LoanSafe provides free of charge foreclosure help, details and suggestions free of charge. But it also is a for-profit enterprise that survives since of the paid marketing of a Beverly Hills mortgage lawyer, Marshall E. Rosenbach, he added.

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Bedard said a quantity of the home owners who come to the Internet site describe circumstances that indicate they have been the victims of broker or lender fraud. Anytime this happens, he said, Internet website members have employed the threat of going to court to nullify the mortgage as leverage to obtain much more favorable loan terms.

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Although Rosenbach said he has received lots of referrals from the Net site, he and Bedard pressure that property owners typically can get their mortgages modified without having hiring a lawyer. The keys are patience and persistence.

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Support Technique

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Bedard acknowledges not everyone who purchased or refinanced a home has enough income to preserve it. When he learns this in blogging with a Net web site member, he stated he advises that renting is the very best choice and might give an individual an opportunity to live much more cheaply in a nicer neighborhood.

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Nathan Fransen, a Corona lawyer who previously advertised on Bedard’s Internet website, said he is concerned that members tend to give one particular one more cost-free foreclosure assist and legal tips that could not be sound. Nevertheless, he mentioned, he believes the Internet web site is helpful and performing an critical service.

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“The reality it is popular is proof it is necessary,” he mentioned.

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Ted Grose, a mortgage broker and previous president of the California Association of Mortgage Brokers, mentioned he is familiar with LoanSafe and finds it is a customer-friendly resource that gives good info on options to foreclosure and reassures people in crisis that they are not alone.

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“It is really typical for customers to pull the sheets over their heads when what they want to do is attain out,” Grose said.

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By LESLIE BERKMAN The Press-Enterprise View the Original Post Here

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Loan Modifications for Profit: New Cost-free Report Shows How to Make Money Assisting Homeowners Reduced Their Mortgage Payments

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Fairfax, VA (PRWEB) October 21, 2008

A new cost-free report at Mortgage Loan Modifications for Profit shows how to earn a profit doing loan modifications for homeowners.

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“At least 3 million homeowners want loan modifications,” stated Richard Geller, developer of the free report. “These home owners do not have the negotiating capabilities, the expertise or the persistence necessary to get the loan mods completed.”

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According to Mr. Geller, most home owners wait until the last minute ahead of applying for a mortgage loan modification. “And then they never know how to go about it,” Geller stated.

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There is a lot to performing loan mods and most property owners are lost, according to Geller. “That is why we offer you this cost-free report. We show you how you can do loan modifications not just for your personal mortgage, but for other people, and hopefully earn a profit undertaking so.”

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Geller mentioned the demand is quite higher. “I have individuals calling and emailing me continually. Most of them never want foreclosure. They want to remain in their residence. They are asking for aid in receiving a loan modification.”

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Fees for performing loan modifications differ, Geller said. But frequently they are equal to 1 mortgage payment that the homeowner must be making. “So if they have been paying $ 1,500 per month on their mortgage payment, their fee might be $ 1,500,” Geller explained. “But that’s up to the business owner who is in the loan mod organization. The entrepreneur determines how much to charge.”

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In some states, laws have been passed that regulate how you can strategy a homeowner about avoiding foreclosure. Geller explained,”these laws in common prohibit prepayment for services. So the report that you can do loan mods and not gather something till you have performed the service for the homeowner.”

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Geller said that loan mods for profit is potentially excellent for a mortgage broker, a true estate agent, or a home investor who desires to assist themselves and support others. “There is enormous demand,” Geller said, “and if you are a loan officer or an agent, you want to be where the demand is. That is in loss mitigation right now, not in new loans.”

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To get the cost-free report, merely pay a visit to Mortgage Loan Modifications Unique Report.

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Business Leader Announces Wonderful Strides Helping Homeowners Reduce Foreclosures And Obtain Inexpensive Mortgage Payments.

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Palm Beach Gardens, Fla. (PRWEB) October 28, 2008

First Universal Lending, announced today that it has been attaining a big volume of accomplishment in it is ongoing negotiations with lending institutions to assist their clients with their loan modifications, and in particular has been conducting settlement conferences with lenders in the offices of Very first Universal.

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First Universal Lending has built an in depth functioning relationship with a quantity of lenders and mortgage servicing facilities nationwide, and now has a number of them in fact visiting their corporate workplace on a weekly basis to deal with the large volume of customers directly.

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First Universal Lending helps thousands of clientele by handling the frequently tedious and tough activity of renegotiating their current mortgage terms with their current lenders. This is accomplished through Very first Universals vast group of very educated specialists, and state of the art software systems, all created with the aim of attaining total client record automation, and speed along with efficiency as a result saving their clients from the hours and hours of back and forth dealings with their frequently unorganized and overburdened lender.

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About Very first Universal Lending LLC&#13

First Universal Lending LLC is a lender that has been servicing retail clientele considering that 2002 and the wholesale and securitization enterprises dates back to 1994. With billions of dollars in transactions and a group of in excess of 200 in personnel, Initial Universal is a leading private organization in the consumer finance market. The firm is a member of the Greater Business Bureau and after servicing in excess of 100,000 thousand clientele the firm has a “B” Rating andhas a complaint price of much less than one particular half of 1 percent. The firm also has had added strategic relationships all through its existence with higher profile lending institutions and service providers/counter parties, like Washington Mutual, Lehman Brothers, HSBC Bank, Goldman Sachs, mortgage division and the Lending Tree group of businesses. The firm supplies additional financial industry services by means of a quantity of other affiliated enterprises, such as but not limited to, Emery Fed Inc., which is a division of Emery Federal Credit Union and Western Thrift &amp Loan — a depository institution that has the approval to supply loans via key financial institutions in the majority of all states in North America.

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Citi Announces New Preemptive Initiatives to Help Homeowners Stay in Their Properties : Initiatives build on and accelerate Citi’s complete loss mitigation efforts, which have prevented around 370,000 foreclosures representing more than $35 billion in loans since early 2007

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NEW YORK (PRWEB) November 10, 2008

Launches Citi Homeowner Help system. Starting now, and over the next six months, this program will preemptively reach out to a pick group of 500,000 homeowners whose mortgages Citi holds these home owners are not at present behind on their mortgage payments, but some may possibly call for support to remain existing on their mortgages. This work is anticipated to result in workouts of approximately $ 20 billion in underlying mortgage balances. Citi is focusing specifically on borrowers in places that are most likely to face extreme financial distress. Extends foreclosure moratorium practice. Citi will systematically implement its practice of not initiating a foreclosure or completing a foreclosure sale on any eligible borrower exactly where Citi owns the mortgage, the borrower is looking for to keep in the property which is his/her principal residence, is functioning in great faith with Citi, and has enough earnings for inexpensive mortgage payments. In addition, in order for its efforts to have the broadest possible influence, Citi is functioning diligently with investors to secure their approval to expand the program to consist of mortgages Citi services but does not personal. Citi also lately streamlined its current loan modification system, which is equivalent to the FDIC/IndyMac model, to aggressively rework delinquent loans. This plan uses a simplified formula to decide an reasonably priced payment as a percentage of the borrower’s gross income and then reduces the monthly payment to that

United Liberty Assisting Homeowners Hold Their Homes

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Los Angeles, CA (PRWEB) November 13, 2008

About 4 million U.S. home owners had been either behind in their mortgage payments or in foreclosure at the finish of June 2008, according to a second-quarter survey released by the Mortgage Bankers Association.

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With the headlines constantly reporting on the demise of the US homeowner market, it seems that there is no relief offered to the millions of property owners, both sub-prime and prime, who are looking for help to retain their most valued asset, their house. United Liberty (UL) supplies relief as a specialist in the region of Lawyer Retained Loan Modifications.

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Loan Modifications can be a quantity of issues, which includes:&#13

Brief Refinancing Aids Maintain Struggling Homeowners Afloat

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Dallas, TX (PRWEB) December 29, 2008

Now that we are a number of years into the housing crisis, with no end in sight, bankers and real estate pros have begun to get inventive. Gone are the days when struggling homeowners had no other option than to enter foreclosure, shed their home and harm their credit. In today’s financial climate, lenders are realizing that it tends to make a lot more sense to operate with the homeowner to maintain them in their home, rather then wind up with a home that loses value and does not sell.

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1 of the new services that lenders have developed to cope with this difficulty is known as short refinancing. Brief refinancing is a new way for homeowners to rework their house loan, stay current with their payments, and stay away from foreclosure. In a quick refinance, the original lender agrees to take a payoff which is significantly less then the original amount of the loan. As soon as this happens, the homeowner can uncover a second round of financing for the remaining amount of the home’s value. With quick refinancing, absolutely everyone wins. The homeowner stays in their home, and the bank is capable to stay away from incurring a slew of fees, and no longer has to attempt to sell a devalued property in an unstable industry.

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The dilemma with brief refinancing, nonetheless, is that couple of know what it is and even fewer know how to handle a single correctly. Banks are only now starting to wake up to the realities of the present housing market place, and have been slow to move on this new answer.

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Enter Joel Broyles, founder of WayForward Realty (http://www.wayforwardmortgage.com). His aim is to help homeowners and lenders negotiate short refinance transactions so that much more property owners can hold their houses. Mr. Broyles has over 6 years of encounter helping homeowners avoid foreclosure, and is committed to educating specialists and property owners alike about the ins and outs of quick refinancing.

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“Brief refinancing is still in its embryonic phase of improvement,” said Broyles, “but we think it will take off as a major tool in the fight to turn America’s housing marketplace about – we’re here for the home owners.”

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Economists are not optimistic for the future of the housing marketplace, specifically in states like Florida and California where the crisis has hit the hardest. Until these taxing instances subside, short refinancing organizations like WayForward Realty will have to assist home owners struggling to remain ahead of an ever-burdensome economy.

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About WayForward Realty:&#13

For the past six years, the specialists at WayForward Realty have pioneered the short payoff and loan modification processes as an advocate for stressed property owners. Since 2003, WayForward has arranged over 400 brief payoff transactions and countless loan modifications saving hundreds of families from foreclosure and attainable bankruptcy. Recognized by business insiders as a single of the leading short payoff and loan modification negotiators in the country, WayForward is uniquely positioned to support mortgage specialists and borrowers negotiate loss mitigation solutions for their current mortgages.

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American Residential Law Group Warns Underwater Homeowners to Beware of Mortgage Modification Scams

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Fort Lauderdale, FL (PRWEB) June 25, 2010

American Residential Law Group has nowadays given homeowners with troubled financial outlooks a warning about home mortgage scams. These fraudulent applications can bilk homeowners of the very monies necessary to retain ownership of their homes and can result in foreclosure.

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The financial distress seasoned by property owners across the country has developed an environment of fear. Home owners underwater are oftentimes willing to jump at any possibility to alleviate the mounting stress of their circumstance. Nevertheless, increasingly, such home owners can be the victims of any number of scams.

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One particular of the most frequent difficulties is the bankruptcy scam. This requires filing bankrupt to cease the foreclosure method. Although this does supply an automatic remain, payments will want to be resumed, or the foreclosure will continue.

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Yet another scam is the fake government assistance scam. These involve unscrupulous people masquerading as government-sanctioned applications. Remember, you will never have to spend exorbitant costs upfront to make use of government home loan modification applications. Nonetheless, these scammers often call for higher charges paid up front.

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However one more scam involves leaseback or acquire-back applications. In essence, you transfer the title of your house to one more individual. This particular person will obtain greater financing and let you reside in the house. Nevertheless, the troubles here are manifold. For instance, you will nonetheless owe the debt on the home. You may possibly also never ever regain ownership of your home and face eviction at the hands of those supposed to be assisting you.

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These are only a fraction of the scams unwary home owners can encounter. The ideal option is to seek viable legal help from a organization that has been fighting for the rights of home owners for years.

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To understand much more about property mortgage modifications and how American Residential Law Group can be of assistance to you, go to them at http://www.ARLGNow.com.

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About American Residential Law Group: American Residential Law Group is a law firm that strives to supply the neighborhood with legal assistance and all the benefits to which shoppers are entitled under the law. With a considerable background in all places of consumer advocacy, American Residential Law Group remains committed to delivering integrity and excellence for their clientele, and rising their quality of life.

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Springboard Provides Hope to Troubled Homeowners: Linked Press Reports on Foreclosure Prevention Counseling at Springboard

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Riverside, CA (PRWEB) March 7, 2009

Springboard Nonprofit Consumer Credit Management was the concentrate of a current story by John Mone of the Related Press, the story featuring foreclosure prevention counseling came on the heels of the Obama Administration and U.S. Department of Treasury’s Creating House Inexpensive system that offers assistance to 7 to 9 million property owners creating a great-faith work to make their mortgage payments.

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In the AP story Mone reported, “When it comes to foreclosure numbers, Riverside County California is pretty a lot in the leading ten in the United States. This is where the sub-prime mortgage meltdown struck deep.”

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With the U.S. unemployment price reaching its highest level in 25 years, Springboard is reporting a record number of counseling sessions in the regions of foreclosure prevention and credit and debt counseling. Throughout the nation, Springboard gives assistance with housing counseling, income and credit management via educational applications and complete counseling in both English and Spanish. Springboard is a HUD approved housing agency, a member of the National Foundation for Credit Counseling, and agency companion in the nationwide Homeownership Preservation Foundation’s Hope Hotline. “We encourage distressed home owners to attain out to their lenders and HUD approved housing counseling agencies like Springboard,” mentioned Melinda Opperman, vice president of neighborhood outreach at the Springboard housing and credit counseling agency. “We’re aware of situations on a everyday basis exactly where troubled home owners have been taken advantage of by paying upfront charges to organizations promising achievement for loan modifications and other workouts only to later understand no operate was performed and a lot damage has been completed. Negotiating loan workouts, options and solutions is anything lenders and non-profit housing counseling agencies offer you homeowners for cost-free,” mentioned Opperman.

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Springboard offers the following advice for customers facing foreclosure or other financial hardship.

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Open all mail promptly. Do not ignore the communication from your creditors or lenders.

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If you are having troubles producing your payments, call or write to your lender’s Loss Mitigation Division without having delay.

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Be prepared to explain your scenario and offer your lender with your monetary details.

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Do not pay funds upfront for a loan modification.

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Be wary of foreclosure rescue scam artists that claim to be helping you save your residence.

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Make contact with a HUD authorized housing counseling agency.

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In 2008, Springboard counseled almost 20,000 troubled home owners in California, and a lot more than 50,000 nationwide.

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About Springboard Nonprofit Consumer Credit Management&#13

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