Tag Archives: Modification

Free of charge Mortgage Modification and Foreclosure Defense Clinic for Property owners Presented by LaBovick & LaBovick, P.A.

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Palm Beach Gardens, FL (PRWEB) February 11, 2010

LaBovick &amp LaBovick, P.A. will hold a Free of charge Mortgage Modification and Foreclosure Defense Clinic for Homeowners at its office in Palm Beach Gardens, Florida from six:00 p.m. to 7:00 p.m. on Wednesday, February 24, 2010 p.m. and again on Wednesday, March 10, 2010. Attorney Scott R. Haft, Esq. and Paul D. Baltrun, Director of Loss Mitigation, each of LaBovick &amp LaBovick, P.A., will conduct the Mortgage Modification and Foreclosure Defense seminar at 5220 Hood Road, Suite 200, Palm Beach Gardens. Space is Limited, and an RSVP is essential to attend these events.

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Managing Shareholder, Brian F. LaBovick, Esq., stated, In the final two years the economy has utterly destroyed the equity for a lot of property owners. In some instances, the family property is now a liability rather of an asset. Recent statistics from the Mortgage Bankers Association show 25 percent of mortgages in Florida have been at least a single payment past due or in foreclosure.

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Nowadays, a lot of households need help. We created the Mortgage Foreclosure Defense and Mortgage Modification Division at LaBovick &amp LaBovick, PA. to assist property owners. We think that home owners in monetary distress deserve a fair deal and that a loan modification can assist offer this opportunity. Foreclosure Defense adds leverage to our capacity to negotiate with a lender. Losing a property to foreclosure is a traumatic experience, and our objective is to support homeowners prevent this tragedy.

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LaBovick &amp LaBovick, P.A.s Mortgage Modification and Foreclosure Defense Division gives clientele a lot of rewards and solutions, such as the following:

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American Residential Law Group Announces New Positive aspects Offered for House Loan Modification

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Fort Lauderdale, FL (PRWEB) February 26, 2010

Home owners can make use of a loan modification lawyer, according to American Residential Law Group, in order to minimize their property mortgage payments and stop foreclosure by the lien holder.

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The housing industrys troubles do not look to be abating. The number of empty homes on the marketplace, at greatest, remains steady, though in some regions the quantity is growing. In addition, a lot more and far more property owners are discovering that they are unable to meet the economic obligation engendered by their residence mortgage.

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For these shoppers, a house loan modification attorney can provide substantial positive aspects. According to American Residential Law Group, such an attorney can help property owners minimize their mortgage payment to 30% of their revenue per month. This gives singular advantages and ensures that property owners are not forced into foreclosure or just walking away from their home loan.

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According to American Residential Law Group, any homeowner behind on their mortgage payments, in danger of defaulting on their loan, or even those in the method of foreclosure can make use of the solutions of a home loan modification lawyer. However, it is vital that the appropriate lawyer be selected.

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In order for consumers to make the very best option feasible, the attorney must be researched prior to any agreement getting produced. The attorneys success rate need to be of major interest to homeowners, as ought to his or her level of expertise and expertise in the field of bank loan modification.

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Lastly, home owners are urged to locate an attorney with a neighborhood-oriented practice a single who advocates for the every day homeowner. This ensures that the lawyer is committed to providing the utmost in service and legal representation for the homeowner in query.

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To find out a lot more about loan modifications and how American Residential Law Group can be of help to you, check out them at http://www.ARLGNow.com.

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About American Residential Law Group: &#13

American Residential Law Group is a law firm that strives to supply the community with legal assistance and all the benefits to which buyers are entitled beneath the law. With a considerable background in all areas of customer advocacy, American Residential Law Group remains devoted to offering integrity and excellence for their consumers, and escalating their quality of life.

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Debt Settlement and Mortgage Modification Scams on the Rise, Warns Chicago Bankruptcy Lawyer Richard Fonfrias

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Chicago, Illinois (PRWEB) March 8, 2010

Richard G. Fonfrias, J.D. of Fonfrias Law Group, LLC (http://www.chicagomoneylawyer.com), a leading Illinois bankruptcy law firm, urges customers seeking monetary assist in these challenging instances to proceed with extreme caution. “Debt settlement scams and mortgage modifications scams are on the rise in the state of Illinois. These unscrupulous firms prey on people who are desperate to steer clear of economic ruin, who, in several cases, are misled into considering it is their a single and only selection. It is imperative that buyers know their rights below the law and completely understand just what they are getting themselves into, before they sign anything. To make an informed decision, customers need as much details as feasible. Luckily, there is a excellent deal of helpful info that shoppers can access for free of charge, from trustworthy sources such as government agencies and trustworthy bankruptcy lawyer sites,” states Fonfrias.

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Mortgage and financial service fraud are the fastest increasing white collar crimes in the U.S. today. In Illinois, Lawyer Basic Lisa Madigan’s office

Townhall Meeting to Raise Homeowners’ Concerns Against Practices of Banks in Property Loan Modification and Foreclosure

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San Jose, CA (PRWEB) March 18, 2010

Homeowners In Action (http://www.homeownersinaction.com), a neighborhood grassroots movement concerned about the lack of fairness and transparency in bank practices, announced nowadays that a town hall meeting will be held at the Martin Luther King, Jr. Library in San Jose on Saturday, March 20, in order to raise home owners concerns against the secretive and ineffective practices of banks in property loan modification and foreclosure.

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Janice Hills, a San Jose resident, has been waiting for her loan modification because February 2009. Twelve months later she received a get in touch with from a loan underwriter supplying a loan modification package with payments only $ 20 less than her old loan payment. Now she has tiny alternative except to let go of the property or file for bankruptcy.

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However, Janice is not alone. Hundreds of thousands of homeowners across the nation face similar stories and thousands of households are heavily hit locally in San Jose.

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Foreclosure dont just effect the household who loses their property, they impact the stability of our neighborhoods,” said San Jose Mayor Chuck Reed on April 8, 2009.

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But, regardless of $ 75 billion offered to banks by the federal government to assist in preventing foreclosure by way of the loan modification procedure, new data released shows that the governments foreclosure prevention plan has been ineffective: mortgage servicers have delivered fairly couple of permanent modifications. Although a necessary Prepayment Trial Plan is supposed to last only for three months, ProPublica reported lately that about one hundred,000 homeowners have been stuck in a prepayment plan for longer than six months, some for as extended as 10 months, a lot more than 3 occasions the Obama Generating Residence Reasonably priced Applications recommendations, even though several have noticed their home foreclosed during the approach.

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The bailout is taxpayers’ money. It requirements to get out to the people on Main Street to preserve these properties, to protect these neighborhoods,” said California Assemblyman Alberto Torrico.

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Jenny Do, San Jose lawyer and cofounder of Home owners In Action, said: It is essential to halt all foreclosures on property loans unless they have been processed through the governments Residence Reasonably priced Modification System and exhausted lenders own alternative modification programs.”

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Michel Lopez, CEO of a nearby company, added: “Home owners in economic problems are victims of unfair and secretive banking practices. They are taxpayers who have contributed money to the bailouts and it is a moral obligation for bankers to rescue them back in return.”

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The goal of this town hall meeting is to let the people voice their stories and sign a petition demanding banks and mortgage businesses to be transparent and take instant action to avert the foreclosure of houses, that are affecting thousands of families in San Jose.

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Please join the forum with hundreds of other property owners to raise the concerns of the community and demand immediate services by banks and mortgage organizations to stop foreclosure.

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When &amp Where&#13

Saturday, March 20, ten:00 AM to 12:00 PM&#13

2nd Floor of the Martin Luther King, Jr Library&#13

150 East San Fernando Street, San Jose, CA 95112&#13

4th Street &amp San Fernando Street, downtown San Jose

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Speak to:

BAKER LAW, PLLC Now Providing Mortgage Modification Services to Chapter 13 Debtors Below New Orlando Bankruptcy Court Mortgage Mediation Program

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Winter Park, FL (PRWEB) May 26, 2010

Orlando Consumer Bankruptcy Lawyer Richard R. Baker of BAKER LAW, PLLC is now providing new loan modification services to Chapter 13 Debtors below a new U.S. Bankruptcy Court Mediation Plan in Orlando, Florida. Starting June 1, 2010, new HAMP rule changes will now make it possible to seek mortgage modification while in an active bankruptcy case. Under current U.S. Treasury rules, mortgage lenders are not required to take into account modifications under the federal governments Generating Home Inexpensive Program (HAMP) whilst a homeowner is in an active bankruptcy case even so, these guidelines are about to alter and they will avoid lenders from saying no to mortgage modification just due to the fact a homeowner is in an active bankruptcy case.

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In the Orlando Division of the Middle District of Florida, the U.S. Bankruptcy Court has also recently launched a Mortgage Mediation Plan to bring mortgage lenders to the negotiation table and delivers sanctions against mortgage lenders who refuse to participate. In most circumstances, the HAMP trial period may be waived by making the trial payment quantity of mortgage payments via the Chapter 13 Trustee, Laurie K. Weatherford in Orlando.

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The combination of these two adjustments should make it a lot simpler for home owners to seek modification of their mortgages and save their property although adjusting and discharging other debts in a single proceeding with Judicial accountability. The new rules will also allow use of the schedules filed in the bankruptcy case to be employed as the modification application and other streamlined procedures that will make it simpler to communicate with lenders. It also offers the homeowner the added protection of a Court Order approving loan modifications to prevent future mortgage problems caused by the mortgage company.

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BAKER LAW, PLLC will now be assisting property owners in distress by employing these new rules to make Chapter 13 Bankruptcy a much better selection to seek mortgage modification and remain other creditors at the exact same time. It can also permit for the stripping off of second mortgages, lowering auto loan payments and minimal if any payment to unsecured credit card debts. A homeowner who files for Chapter 13 Bankruptcy to reorganize may emerge from the case with a modified initial mortgage, a second mortgage that is gone forever and be otherwise debt totally free upon program completion and discharge.

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Ultimately a rule modify to aid the American Homeowner save their house says Customer Bankruptcy Lawyer and Chair of the Orange County Bar Bankruptcy Committee Richard R. Baker, Esquire of Winter Park, Florida. Most property owners I meet with here in Central Florida need a mortgage modification and bankruptcy relief and now rules will make it easier to get each varieties of relief at the exact same time. I believe this will truly give property owners a greater chance to save their properties and resolve other debt troubles by way of Chapter 13.

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To learn a lot more about how this new service and new legal approach utilizing the new HAMP rules and Bankruptcy Court Mediation in the Orlando Bankruptcy Court could assist you, get in touch with Mr. Baker by visiting http://www.legalquestion.com or get in touch with him toll-cost-free at 888-841-3588. You may also adhere to him on Twitter at BakerLawFL.

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Uncover A lot more Loan Modification Services Press Releases

HomeFree-USA Announces Most current Mortgage Solutions Now Loan Modification Event

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Hyattsville, MD (PRWEB) June five, 2010

HomeFree-USA (http://www.homefreeusa.org), a HUD-approved, nonprofit homeownership improvement organization, these days announced its newest loan modification event, Mortgage Solutions Now, a two-day session at its national headquarters. Representatives from numerous key mortgage servicers will be present to meet with borrowers getting trouble keeping their mortgage payments.

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Dates, instances, place and contact for the HomeFree-USA loan modification occasion:&#13

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Friday, June 4 and Saturday, June five&#13
9:00 am 7:00 pm&#13
HomeFree-USA National Headquarters: 3401A East West Hwy. Hyattsville, MD 20782, corner of East West Hwy and Editors Park Dr., across from The Mall at Prince Georges&#13
301-891-8423 http://www.homefreeusa.org&#13
Organizations that will have representatives at the occasion contain:&#13

Fannie Mae&#13
Freddie Mac&#13
Bank of America&#13
GMAC&#13
OneWest&#13
SunTrust&#13
Wells Fargo&#13
Chase&#13
Citibank&#13
Saxon&#13
Participating organizations have sent data and invitations to quite a few borrowers in the Metro DC location, including Fannie Mae who has dispatched 17,000 such communications. WHUR-FM is continuing its public service partnership with Fannie Mae and promoting the occasion. &#13

Fannie Mae is committed to assist distressed borrowers keep away from foreclosure and discover exercise options, stated Michael T. Hernandez, Vice President, Fannie Mae. Operating with our partners and servicers, we continue to support and participate in borrower events across the nation so that struggling property owners can connect directly and in-individual with the lending specialists who can assist them.

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During the occasion, home owners will 1st meet with HomeFree-USA homeownership advisors to discuss monetary/employment status, receive a credit report, and establish a budget that contains a modified and reasonably priced month-to-month loan payment amount. An lawyer will be accessible for legal counsel distinct to homeowner rights and foreclosures. Attendees will then speak to representatives from servicers to submit and discuss modification proposals. Spanish-speaking specialists will be available.

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HomeFree-USA will be making use of the HOPE LoanPort on the internet program to procedure borrowers eligible for the Obama Administrations Property Reasonably priced Modification System and other standard modification applications. HOPE LoanPort captures data about borrowers situations and assembles borrowers documents in an online file to overcome difficulties with lost or delayed paperwork that has often stymied loan modification efforts.

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In addition, the occasion will raise awareness of the Loan Scam Alert Campaign. The campaign is created to educate home owners about the prevalence of loan modification scams in the marketplace right now. Property owners who have been victims of scams will be in a position to file a complaint.

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Prior to their appointments, property owners should total a Loan Modification Data Intake Type and use the Loan Modification Checklist to collect all crucial documents required at their appointments:

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Most recent mortgage statement&#13
Spend stubs for the last two months&#13
Bank statements for the final two months&#13
2008 tax return&#13
IRS Form 4506T&#13
Hardship letter (Must contain answers to these inquiries):&#13
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Public Awareness Campaign Empowers Homeowners to Combat Loan Modification Scams

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Riverside, CA (Vocus) June 9, 2010

On Friday, June 11, a partnership of regional, state and national government agencies, nonprofit organizations and financial institutions will collect at the steps of City Hall in Riverside to launch a public education campaign made to help property owners protect themselves against loan modification scams, uncover trusted help and report illegal activity to authorities. The press conference and kick-off are among several events held in recent months in cities across the nation to announce the Loan Modification Scam Alert campaign, a national initiative created to combat loan modification scams.

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California has regularly posted one particular of the nations highest foreclosure prices. The Inland Empire is among numerous metropolitan regions in California to regularly rank among locations with the highest foreclosure prices.

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Too a lot of residents in the Inland Empire, like home owners nationwide, are losing thousands of dollars and their residences to scam artists who make huge promises and then do small or absolutely nothing to help them save their residences, said Thomas Coates, program manager for the Housing Possibilities Collaborative of the Inland Empire, a nonprofit organization comprised of a number of HUD-authorized counseling agencies that do not charge shoppers a charge for housing counseling. Any individual can be a victim and the individuals of the Inland Empire want to know what sources are obtainable to them. They need to know that legal aid groups, economic institutions, and HUD-certified counselors are providing free of charge solutions to any individual searching for aid.

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The regional kickoff event will function representatives from the Federal Deposit Insurance Corporation, NeighborWorks

Public Awareness Campaign Empowers Home owners to Combat Loan Modification Scams

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Riverside, CA (Vocus) June 12, 2010

These days in Riverside, a partnership of local, state and national government agencies, nonprofit organizations and financial institutions gathered at the steps of City Hall to launch a public education campaign created to help homeowners safeguard themselves against loan modification scams, uncover trusted help and report illegal activity to authorities. This was amongst numerous kickoff events held in recent months in cities across the nation to announce the Loan Modification Scam Alert campaign, a national initiative developed to combat loan modification scams.

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The national foreclosure rate has reached an all-time high, and millions more foreclosures are expected in coming years. As the foreclosure rate grows, much more and far more home owners are getting deceived by scam artists who prey on their fears, mentioned Eileen Fitzgerald, Chief Operating Officer of NeighborWorks America. This campaign is based on the belief that expertise is the best defense, which is why the campaign equips property owners with the tools they require to minimize their risk and cease scammers in their tracks.

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The regional kickoff occasion featured representatives from Riverside and San Bernardino Counties, the regional faith-based neighborhood, the Greater Business Bureau of the Southland, the Federal Reserve Bank of San Francisco, the Federal Deposit Insurance Corporation, the Federal Trade Commission and regional housing counseling agencies, including the Fair Housing Council of Riverside County, Neighborhood Housing Services of the Inland Empire, Neighborhood Partnership Housing Solutions and Springboard Nonprofit Consumer Credit Management. Also present had been nearby homeowners who shared their individual experiences with loan modification scams to inform other homeowners in their neighborhood about this activity.

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NeighborWorks America will coordinate the nationwide work through its 235 community-primarily based affiliates and other neighborhood, state and national companion organizations, like the Department of Housing and Urban Improvement (HUD), the Federal Trade Commission, the U.S. Division of the Treasury, Fannie Mae, Freddie Mac and the Lawyers Committee for Civil Rights Below Law.

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Together, the partners aim to attain thousands of distressed property owners in hundreds of communities at higher threat for fraud activity. The campaign will target all audiences, but its sources are focused sharpest on these groups that have already observed high levels of scam activity, including seniors, Hispanics, African Americans and Asian Americans.

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As element of the campaign, details, resources and reporting capabilities are now available around the clock at http://www.LoanScamAlert.org and by calling 1-888-995-HOPE (4673). Community groups might also go to the Internet internet site to access campaign components offered for download and distribution in their region.

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By way of real-life scam stories, collateral materials, print marketing, regional radio PSAs, events, word of mouth and social media activity, the campaign will educate the public about the warning signs of a loan modification scam. Borrowers have to steer clear of any person or firm that asks for a charge in advance, guarantees a loan modification or tells you to spend them alternatively of paying the mortgage. Only a lender can assure a loan modification and they do not charge, said Richard Castro, communications manager for NeighborWorks America.

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Homeowners are also urged to report scam activity at after to the correct authorities via the campaign Net internet site and hotline. We want to tension how essential it is for individuals to discover the signs of a scam and rapidly report any encounter that just doesnt ring accurate, said Castro. Scammers are out there attempting to take advantage of people in a challenging spot. The campaign is producing it less complicated for property owners in distress to fight back, and help us shut scam artists down.

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About the Housing Possibilities Collaborative of the Inland Empire &#13

The Housing Possibilities Collaborative of the Inland Empire (HOCIE) is comprised of organizations functioning collectively sharing greatest practices and resources to deliver complete help to individuals and households in their quest for sustainable homeownership.

National Closing Center to Provide Quick Sale/Loan Modification Processing Services Nationwide

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Willowbrook, IL (PRWEB) July 9, 2010

Due to the lengthy turnaround time, exhausting communications with overwhelmed banks and unpredictable outcome a lot of genuine estate brokers and agents have a tendency to steer clear of short sales. Even so, present industry has tiny to offer besides all kinds of distressed properties.

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True estate companies that keep away from quick sales loose a excellent supply of earnings as effectively as trust of their customers, as purchasers have a tendency to look for bargain properties and are eager to buy a quick sale far more typically than ever before.

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Upon release of a brand new site on July 1st, 2010, National Closing Center Corp. (NCC) is now supplying quick sale and loan modification processing solutions nationwide at no expense to genuine estate specialists.

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Till now the business has been active in brief sale/loan modification processing primarily in Illinois and their team of loss mitigators has earned a reputation of the toughest negotiators in Chicagoland.

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As short sale processing is usually regarded more of an art than science, expertise and encounter of negotiators was the key factor of NCCs achievement. Even so, right after successfully teaming up with RealtyProx, the creators of most advanced quick sale processing software, NCC has got the science component covered as properly. NCC now has created a full brief sale processing system that functions with laser-like precision.

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How does NCC solutions work and why the organization is different from the competitors?

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Each client who registers at http://www.processingshortsale.com automatically becomes a user of RealtyProx at no expense. There is practically nothing to download, install or update RealtyProx is one hundred% primarily based on the notion of cloud computing (i.e. fully internet-primarily based).

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Upon completion of a straightforward registration process, the user can log into the system and file the first brief sale/loan modification request. Inside 24 hours a negotiator is assigned and the agent notified about actions taken. The agent also receives direct contacts of the negotiator.

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From now on all the parties involved in the quick sale/loan modification processing communicate through RealtyProx. The program permits a number of techniques of collaboration, like access to document forms, uploading and sharing documents, emailing other parties with no the need to have to open e-mail client, time-stamped comments with distinct permission levels to help track down the path negotiations are taking, and multiple report capabilities.

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In spite of becoming precise and complex tool, RealtyProx is extremely user friendly and does not require any certain abilities apart from basic abilities to operate a personal computer. Combined with the expertise of NCC, it really is the most extensive and successful brief sale processing program available to date.

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A genuine estate agent is in full manage of the process, updated 24/7, but actual worknegotiating with lendersis performed by NCC employees. This way agents and brokers do not have to invest their productive time of the day attempting to get a hold of a bank representative or searching for a missing piece of a brief sale package.

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Possessing both knowledgeable and seasoned group and potent computer software, NCC has great benefit more than these businesses that provide only an access to some type of computer software without having truly supplying mitigation services, as effectively as these who supply negotiation solutions with no offering cutting-edge tools.

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About National Closing Center

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National Closing Center (NCC) gives short sale and loan modification processing services for genuine estate professionals nationwide at no cost to actual estate agents or sellers.

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NCC has a capacity to deal with occasional requests by a single broker as nicely as a continual function-flow from a multi-agent brokerage. Presently NCCs closing ratio is almost 98 percent. From submitting a short sale package to tracking down mitigation progress to closing the file all services of NCC are transparent, performed with laser-like precision and maximum accountability.

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Accountable Debt Relief Announces Pathbreaking Housing Counseling and Mortgage Modification Assessment Technique

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Rochester, New York (PRWEB) October 31, 2011

Dr. Robert D. Manning, distinguished consumer finance scholar (author of CREDIT CARD NATION and hyperlink to http://www.creditcardnation.com) and founder of the nonprofit Accountable Debt Relief (RDR) Institute, announced the release of his companys pathbreaking, on the web mortgage underwriting, house refinancing, and housing counseling assessment technique final week in Salt Lake City, Utah. Throughout his luncheon address at the Utah Housing Coalition conference, Dr. Manning, 1 of the earliest forecasters of the Customer-Led Recession and collapse of the US housing marketplace, reported on the current state of the U.S. economy, the perilous situation of the housing market, and the failure of the banking market to adjust to the realities of current risk-management requirements.

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According to Dr. Manning, public policy-makers created the fatal mistake of assuming that the 2007 recession was propelled by a standard company-cycle that would final 3 or four years rather than a consumer debt bubble that would demand drastic household debt relief by means of loan forgiveness and low-interest loans. The problem is that economic institutions have not adjusted to the new reality of their faulty underwriting strategies. Individually-primarily based FICO scores and associated retrospective financial measures are much less trustworthy assessments of customer economic capability in the existing atmosphere of consumer credit scarcity. As a outcome, banks are reluctant to supply loans to creditworthy households that have encountered economic difficulty throughout this turbulent financial period.

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Throughout his presentation, Dr. Manning asserted that a new paradigm for assessing household credit capability should be explored if the nation is to keep away from a deeper and much more prolonged recession. Otherwise, fewer mortgage and loan applications will be authorized which will reinforce falling housing prices and lead to far more households abandoning their upside-down mortgages. Dr. Manning then explained the key attributes of the RDR net money-flow algorithm/software program that calculates net, soon after-tax household revenue based on such aspects as federal, state and local taxes, household structure, tax filing status, regional cost of living, property ownership status, federal authorized deductions such as retirement and charitable contributions, and court-mandated payments such as youngster help and garnishments.

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This proprietary algorithm is the basis of a webservices-primarily based data management program whereby lenders, counselors, and person buyers can conduct a preliminary, on-line assessment of the affordability of a mortgage modification, property loan, and even an auto loan.

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Following the presentation, Dr. Manning demonstrated the ease and speed in making use of the RDR online financial assessment systembeginning with a price range assessment based on the net cash-flow computer software. The assessments can be calculated for people and for households. The unique Credit Capacity score gives a swift assessment of the financial situation of a household. Similarly, the on the web mortgage underwriting, property loan modification, and auto loan assessments estimates the size of the loan that is inexpensive, whether the borrower must qualify for a prime or subprime loan, and the total expense of the loan. Moreover, RDR delivers a distinctive tenant screening score that estimates whether or not a person that has knowledge economic distress such as foreclosure or bankruptcy can afford a specific rent with out getting rejected due to a low FICO score.

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Dr. Manning concluded that, in the short-term, the pace of the US financial recovery will depend on the stabilization of the housing marketplace. Without having new risk management tools to a guide recently foreclosed and/or bankrupt households into the rental housing market place and far more precise underwriting tools that are not dependent on flawed FICO scores, the US will face a decade of declining economic prosperity and widening social inequality.

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For a lot more about RDR, its pathbreaking net money-flow tools, and Dr. Manning, please contact us at 585-563-7675.

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