Tag Archives: Reduction

Addvent Funding Wants to Dispell the Myths About Bank of America’s New Principal Reduction Program and What it Truly Entails

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Tampa, FL (PRWEB) April 1, 2010

Addvent Funding LLC of Tampa Florida has released, as of April 1st, an updated version of their Principal Reduction Plan, which however can be misunderstood as a really related system to the a single Bank of America has produced public as of March 24th. There are even so, several misconceptions regarding the coverage of BofA’s recent announcement of a principal reduction initiative, particularly its relationship to the Home Affordable Modification System (HAMP). This confusion also extends to the Treasurys Friday announcement. There are extremely handful of firms that in fact supply a true way to decrease your principal balance and Addvent Funding is one of a really really modest few. Never be misconstrued by clever wordsmithing from Bank of America’s legal department, they are virtually being forced to do what they are covering up as a ‘new initiative’.

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The BofAs plan at concern is a response to an $ eight.6 billion dollar settlement with regards to a quite distinct set of loans inherited by way of BofAs 2008 acquisition of Countrywide, not a meaningful answer to the core issue of negative equity in residential genuine estate. (1)

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This specific missing context is disappointing, but the greatest concern relating to the coverage of this BofA program” is the conflation with genuine HAMP initiatives (both current and in-improvement) that seek to address the ongoing crisis and give support to the millions of underwater property owners. In spite of their (apparently effective) spin, the system announced by Bank of America is not such a approach it is simply a stipulation from an out-of-court settlement agreement.

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Additionally, the announcement by the Treasury Department is also being widely and inaccurately linked with Bank of Americas press release March 24th. Whilst the Treasury is rightly focusing on options aimed to help these in the most dire of situations, these initiatives do not address the millions of homeowners that are functioning difficult to make payments on a loan that overvalues their residence by up to 50%.

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While every person can hope that the Treasurys effort to encourage bank reductions in principal loan balances for struggling homeowners is effective, there is evidence to suggest widespread acceptance and implementation of this approach may possibly be challenging to receive. (two)

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In the case of a homeowner that is both able to make month-to-month payments and owes considerably far more than the house is worth, lenders will contemplate principal reduction only when acceptance of a principal reduction addresses the main issues of the lender capitalization requirements, liability reduction, and risk aversion.

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New Principal Reduction Applications (PRP) are emerging that can support homeowners otherwise ignored. Addvent Funding LLC is one example of a new economic organization that assists responsible home owners facing severe declines in house value via no fault of their personal to negotiate significant principal reductions down to existing market place values.

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In the current climate, lenders such as Bank of America are mainly concerned with asset valuation, danger reduction / avoidance, and capitalization specifications. In order for a lender to accept a principal reduction on an asset they personal, the terms of the principal reduction have to favorably address these issues. Addvent Funding LLC and its affiliates understand these motivating factors, and structure meaningful options in conjunction with lenders making use of leverage created by way of portfolio negotiation. (three)

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For further information of Addvent Funding LLC, please make contact with Mr. Zack Larson.

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(1) The lawsuit contends that roughly 45,000 Alternative ARM loans issued by Countrywide have been predatory in nature which means the lender, broker and/or economic advisor charged with fully disclosing the risks and obligations linked with this sort of loan failed to adequately do so, to the detriment of the borrower. Bank of America agreed to an out-of-court settlement of $ 8.6 billion dollars directed to address this certain group of loans. Bank of Americas principal reduction announcement is a distinct situation of that settlement.

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See – http://www.law.com/jsp/report.jsp?id=1202446753100

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(two) The Treasury Departments strategy does not address specific fundamental elements of the housing crisis, such as the following: For a lot of homeowners, reduction in principal and/or interest price does not necessarily equate to decreased monthly payments if that homeowner has been generating an interest only or minimum payment. In this case, the modification might not address the basic issue of monthly payment reduction, as a result failing to substantially minimize foreclosure danger.

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When calculating the 31% debt to earnings threshold, usually second mortgage payment obligations are not integrated in the equation. Consequently, the affordability of these solutions can be somewhat misleading.

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This is the second try by the Treasury Department to incentivize the lenders to minimize principal balances for struggling property owners. Lenders have primarily demonstrated an unwillingness to give principal reductions that would lessen the loan amount to the existing market place worth of the house. Alternatively, the principal reduction supplies short-term payment relief, but does not re-equify the borrower, meaning they nonetheless owe far more than the property is presently worth. The outcome is continued anxiety on the lenders balance sheet, and the genuine danger of an individual walking away from a mortgage alternatively of paying more for a residence than it is worth, even if they now can afford the payment.

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(3) http://addventfunding.com/&#13

Addvent Funding, LLC

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Obama Administration Announces Help of Principal Reduction Programs Atlantic Mutual Gives a Resolution

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Largo, FL (PRWEB) April 20, 2010

When the Obama Administration announced its help of principal reduction applications in March, Atlantic Mutual, LLC, had already been working on a private sector remedy. Just one year ago, the Administration amended TARP to develop a provision that makes such principal reduction programs possible. Following almost 1 year of research, Atlantic Mutual launched a Principal Reduction Plan in February that will access the Public-Private Investment Program (P-PIP) of TARP to facilitate their system. Sixty days into the plan, Atlantic Mutual supplies an update on the progress of their principal reduction strategy and the particulars of why their Principal Reduction System operates.

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More than the previous two months, Atlantic Mutual has been swiftly expanding to collect files to fill the loan portfolios that they are putting collectively for their interested investors. The portfolios are lender-specific and created to meet the desires of the finish investors. Weve identified a way to underwrite these portfolios of loans so that a qualified investor can decide on the sort of borrower that they want based on capability to pay and borrowing history, rather than utilizing classic underwriting procedures, says Brian Correa, co-founder and CEO of Atlantic Mutual, LLC.

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A Principal Reduction Program ultimately provides an option to the 18 million homeowners across the nation buried in damaging equity that have no other options. Loan modifications have established to be unsuccessful, and lender principal reductions are far and few among (and thats even if a borrower qualifies). Atlantic Mutual is at the forefront of the market by building a Principal Reduction Program that requires the proceeds from Wall Street and brings them to the people of Main Street. The American taxpayer can now advantage directly from the billions of dollars that have been poured into the corporate bailout.

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The premise of Atlantic Mutuals system could look easy: the far more portfolios that are bought via this plan directly translate into far more mortgage principal reductions for struggling property owners. Even so, the number of investors participating is limited. The P-PIP has only nine capital fund managers that can make purchases, and an interested investor must offer the adequate capital and be registered with a single of these nine managers. When qualified as an investor, the plan utilizes federal government TARP cash to assist investment funds acquire huge bundles of toxic assets at a discount from the banks. The savings from the government-financed purchases enables those discounts to pass to homeowners by issuing new loans at, or below, current market place worth.

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The incentives in this program for all parties involved are structured in such a way that its not unrealistic to expect to see principal reductions completed for many certified home owners over the next handful of years, explains Brooke Errett, co-founder and CFO of Atlantic Mutual, but in order for that to happen, a lot more legitimate enterprises will require to supply similar applications and more investors will need to have to step up to the plate. We also plan to continue raising bank participation by way of educating absolutely everyone on this process.

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Through their expansion, Atlantic Mutual, a residential monetary consulting firm at the forefront of mortgage principal reductions, is building the infrastructure essential to deal with the huge influx of inquiries about its exclusive Principal Reduction Program. In reality, (Ms. Errett) and I still take a few incoming calls per day to stay connected with the men and women that we are helping. I feel the biggest disconnect is that Wall Street nevertheless looks at these mortgages as numbers. Whereas, we realize that we are dealing with person home owners, and we want to meet their needs, says Mr. Correa.

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The organization encourages all home owners to get in touch with to inquire about the information of their Principal Reduction System. We pride ourselves on the transparency of our business, says Ms. Errett. We want our consumers to know that they can ask us queries about where we are with our files and what we do differently, and that they know they will get an honest, direct answer.

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As Atlantic Mutuals Principal Reduction Program becomes increasingly well-known, much more and much more home owners, stuck in an upside-down mortgage, are becoming conscious that they have options. At this point, everybody understands that it is basically a matter of acquiring the data out to homeowners. Fortunately, principal reductions are obtaining far more media coverage, and robust national advocates, like President Obama and Representative Barney Frank, support to give credibility to these applications.

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Weve come to rely on the efforts of our Congressmen to make our program possible. (Atlantic Mutuals) Principal Reduction Plan operates far more effectively with the far more progressive initiatives that we see in Congress, explains Ms. Errett. I am excited about Representative Franks initiatives on secondary mortgages encouraging lenders to work with each other only makes our job easier. I encourage all of our customers to attain out to their Congressmen to assistance such initiatives.

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But most property owners do not know about principal reduction programs, and walking away looks like the only actual selection. Mr. Correa explains that [t]hese are folks that may have the resources to make their payments, but cannot see the sense in continuing to pour funds into a hopeless investment. The Principal Reduction Plan developed by Atlantic Mutual was created to assist precisely these folks.

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Unlike the multitude of programs out there only for default borrowers at danger of foreclosure, the Atlantic Mutual Principal Reduction System provides that answer for homeowners who are up-to-date on their mortgage payments and at the moment ignored by public programs. In turn, their plan addresses the concerns of opponents of principal reductions who think such applications will lead to an concern of moral hazard, exactly where borrowers will default on their mortgages to qualify for the applications. Ms. Errett tells that [m]oral hazard isnt an issue with our plan. We encourage our clientele to stay up on their payments in reality, we call for it.

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Atlantic Mutuals Principal Reduction Plan not only demands that clientele be on-time with their payments customers need to also have documentable income and meet a tight debt-to-revenue threshold. Fortunately for most borrowers, the business has other applications (like debt management) that can assist borrowers to remove debt and qualify for the Principal Reduction System.

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When discussing the influx of principal reduction providers, Mr. Correa says, I cant speak for any person else out there, but I do know weve been functioning about the clock building a remedy to this dilemma. Our Principal Reduction System is based on a tight formula that brings taxpayer dollars back to the taxpayerthe American homeowner. In fact, our system is patent-pending. Often it just requires a little private-business enterprise to make a public plan perform. No one else does what we do the way we do it.

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The plan provides a win-win predicament for all involved. Banks win simply because they are in a position to unload their toxic paper with out possessing to clean up foreclosure right after foreclosure. Investors win simply because they are able to acquire at large discounts. Property owners win simply because they can finally get the relief they have sought right after for so long.

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And the taxpayer wins because the country is now in position to resolve the mortgage crisis even though truly utilizing private business as an alternative of spilling out much more government funds to do so. Initial glance says that this Principal Reduction Plan is a winner.

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For concerns or inquiries, please contact info(at)atlantic-mutual(dot)com or get in touch with 888.850.6772. Or, go to Atlantic Mutuals site at http://www.atlantic-mutual.com.

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For media inquiries, please get in touch with Brooke Errett at brooke(at)atlantic-mutual(dot)com.<

United Law Group Negotiates $207,186 Principal Loan Reduction for Los Angeles Lady

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Irvine, CA (PRWEB) April 28, 2009

United Law Group, the leading provider of legal foreclosure prevention and foreclosure litigation solutions, effectively negotiated a principal reduction and loan modification that decreased Gail Talbert’s mortgage loan balance by over $ 200,000. Talbert retained the firm in October of 2008. Seven months later the firm completed the negotiation with Homecoming Bank, a subsidiary of GMAC, which saved Ms. Talbert from foreclosure.

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“United Law Group saved my home,” mentioned Ms. Talbert. “I stopped making my payments in October because I couldn’t hold up. When the bank referred to as to hassle me I told them I had a law firm assisting me. They didn’t bother me once again. Retaining United Law Group was the smartest choice I ever made.”

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Ms. Talbert operates as an electronics inspector for a Los Angeles based company. She had been out of work for several months prior to receiving this job and had fallen behind on her payments. Upon understanding that Gail hired a organization to aid her with her stave off foreclosure numerous of her household and close friends became concerned.

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“Folks told me I’d been scammed,” said Ms. Talbert. “But I kept the faith. I got a great feel from the people at United Law Group. The attorneys have been sensible. They stayed in get in touch with with me and worked tough to get the bank to do proper by me.”

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United Law Group takes a strong position against predatory loan modification companies that prey on honest citizens in want of support. Earlier this month the firm issued a statement in support of the government crackdown on these predatory businesses. In addition the firm supplies sources to help individuals to combat mortgage scams.

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“United Law Group is a law firm with attorneys all through the nation licensed by their respective state bars,” stated Corvi Urling, Executive Consultant for United Law Group. “Businesses claiming to have attorneys on staff are not law firms. They cannot do the issues a law firm can do to compel the banks to respond or enforce the client’s rights. Nor are they held to the identical standards.”

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Ms. Talbert, and countless other people like her who made the selection to perform with a law firm like United Law Group comprehend the distinction.

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“United Law Group protected my rights,” stated Ms. Talbert. “I had a negative amortization loan with a payment of $ 2,198 that was escalating annually. I had no equity and could not make my payments. United Law Group got the bank to minimize my principal and my payments dropped to $ 1,652 on a 30-year fixed loan. Now I can stay in my property and sleep at night.”

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About United Law Group&#13

United Law Group is a national law firm with offices in California, New York, Florida, Ohio, Nevada &amp Arizona. It is the largest foreclosure prevention firm in the nation with attorneys licensed in every state. Committed to assisting homeowners facing hardships to hold their houses, United Law Group makes use of legal channels to compel banks to modify adjustable-rate to fixed-rate mortgages, minimize principal and interest, and generate other fair options between the lender and borrower.

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For additional details on United Law Group, pay a visit to: unitedlawgroup.com.

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United Law Group Negotiates Payment Reduction of $1,542 Per Month for Jean Russell of Altadena, CA

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Irvine, CA (Vocus) July 30, 2009

Jean Russell of Altadena, CA was in trouble. She had a mortgage with a balance of just below $ 700,000 and was over $ 58,000 in debt. Obtaining lived in her property for more than 20 years, she’d spent over $ 200,000 to repair it after a tree fell on it and all-but-destroyed parts of the 100-year old house. Coming out of retirement in order to spend her mounting bills was not enough. She called the United Law Group of Irvine, CA to support. It took nine months, but the firm effectively negotiated a payment reduction from $ 4,112 to $ two,570.

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“I was caring for my sick mother who had Parkinson’s and Alzheimer’s illnesses,” mentioned Jean. “My retirement account balance had dwindled when the market crashed and I’d lost the earnings property I bought to supplement my retirement. I didn’t want to lose my house but I didn’t know how to preserve it. United Law Group saved my property and gave me hope for the future.”

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The firm spent months dealing with Saxon Mortgage Solutions, the business accountable for servicing Jean’s ARM loan. United Law Group is the top provider of legal foreclosure prevention and foreclosure litigation solutions. Using legal channels, the firm aids sincere citizens who have been victimized by the banking and housing meltdown.

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“I wasn’t extravagant,” stated Jean. “I thought I’d ready, then almost everything I’d worked for was suddenly in danger. United Law Group reduced my residence payment. With the further funds I’ve been able to make payments to lessen my debt. It’s down to $ 28,000 – half of what it was. I’m so grateful to the lawyers and support employees at the firm for all their difficult operate.”

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Jean’s hardships coupled with sturdy payment history and demonstrated commitment to paying her debts made her a candidate for the Housing Cost-effective Modification.

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“Jean was about to turn into a statistic in this entire housing mess,” mentioned Sean Rutledge, Managing Director for United Law Group. “The team persevered regardless of the hurdles set forth by the bank. With the Housing Affordable Modification in place, Jean can breathe straightforward. She’s got a program for paying down her debt and hope that she can retire once again. She’s why we do what we do.”

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About United Law Group&#13

United Law Group is a national law firm with offices in California, New York, Florida, Ohio, Nevada &amp Arizona. It is the biggest foreclosure prevention and litigation firm in the country with attorneys licensed in each and every state. Committed to assisting property owners facing hardships to preserve their houses, United Law Group utilizes legal channels to compel banks to modify adjustable-rate to fixed-rate mortgages, reduce principal and interest, and develop other fair solutions in between the lender and borrower.

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For additional info on United Law Group, pay a visit to: http://www.unitedlawgroup.com/index2.html or get in touch with Corvi Urling, Executive Consultant for United Law Group at (800) 680-5717.

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New Program Offers Mortgage Reduction Remedy to Home owners Facing Foreclosure

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Las Vegas, NV (PRWEB) January 5, 2010

At a time when one in five American mortgages are upside down in worth, an investment group is offering homeowners a unique new answer.

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Pegasus Investor Group, LLC, is launching a new service offered at mortgage reduction, which purchases homeowners’ mortgages and refinances them so that property owners end up owing significantly less than market place worth on their home – which is a lifesaver to the millions of homeowners who at the moment owe more on their residences then their residences are worth.

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Based on the house and the terms of the loan, the homeowners could find themselves owing tens or even hundreds of thousands of dollars less on their mortgage beneath the terms of their new loan.

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“The new mortgage will be for 60 % to 95 % of the market place value of the property, which will permit the homeowner to commence building equity in their house and also will considerably decrease monthly mortgage payments,” explains Carlos J. Acosta Jr., managing general partner of Pegasus Investor Group, LLC.

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Their mortgage reduction program doesn’t involve tricks like stretching the loan out to 40 years and it doesn’t require ideal credit. It’s a conventional 30 year loan, offered even to home owners with less than ideal credit and with missed mortgage payments.

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The plan also is not a loan modification only a extremely small percentage of loan modification attempts function, so they aren’t a practical answer for most distressed homeowners, Acosta explains.

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A standard example of how Acosta’s program performs would be:

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A individual who owes $ 300,000 on their home, but the home is now worth only $ 200,000. Pegasus Investor Group, LLC, pays off the note (they do not own the deed to the property) and establishes new terms with a new mortgage balance of $ 190k, saving the homeowner $ 110,000 and created $ 10,000 in instant equity.

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Acosta’s group is generating a new style of true estate investment which, alternatively of taking benefit of distressed homeowners by snapping up their properties after foreclosure, really advantages both homeowner and investor.

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They do this by working with government agencies like the F.H.A. and Ginnie Mae, and make their profit by in the end reselling the refinanced loans to other agencies. The homeowner ends up owing significantly less income on their home and paying a reduce month-to-month mortgage payment, and Pegasus Investor Group LLC earnings by reselling the loan.

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Pegasus is capable to negotiate with the bank in bulk quantities, which enables them to get massive discount on the homeowner’s note.

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“This is a scenario exactly where everyone wins,” Acosta explained. “We weren’t interested in making a profit by exploiting folks and taking their properties. We want to assist individuals stay in their properties and rebuild their finances and their credit, and that is what this program does. It genuinely is a win-win solution for everyone.”

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These searching for more information about the new plan could pay a visit to mortgage reduction.

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Florida Firm Delivers Revolutionary Principal Reduction Plan To Property owners

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Tampa, FL (PRWEB) May possibly 18, 2010

Todays Residence Solutions of America has what will undoubtedly become the really feel great story of the next few years for several of our nation’s residence owners.

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Contemplate the existing true estate and economic backdrop. The American housing market collapse is of a scope in contrast to what most home owners right now have ever skilled in their lifetimes. Unemployment has improved in all 50 states year more than year and it is nevertheless unknown if we have noticed the peak. Millions of house owners across the country have located themselves paying on a residence mortgage substantially bigger then the current value of their homes. Many can no longer continue to make month-to-month payments and even those that can are walking away from their residences as they envision no possibility of ever achieving good equity.

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While government loan modification applications have been weakly promoted to assist with this national dilemma, they have been predictably ineffective with few borrowers getting approved for permanent modifications. Even those borrowers getting permanent modifications wonder if they have genuinely benefited thinking about they could now be committed to 40 a lot more years of payments and the uncertainty of when they will ever construct equity once more.

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The excellent news is that Todays House Options of America has a program that is great for borrowers, it is good for mortgage companies, it is very good for the economy, and it is very good for the nation … and it really performs. Beginning inside its own state, Todays Residence Options of America is now providing their Principal Reduction Program (PRP) for Florida home owners whose mortgages are underwater.

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What are the advantages to the homeowner?&#13

1. Remove all unfavorable equity&#13

2. Reduce principal balance to 90% of existing market place worth&#13

3. Monthly mortgage payment lowered by 25%-50%&#13

4. Obtain 10% immediate equity

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What are the qualifications for this program? &#13

1. Need to own a house in Florida.&#13

two. Need to be upside down by at least 25%.&#13

three. Should have documented revenue to cover for the new mortgage at the existing industry worth

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How a lot does it cost?&#13

1. One time totally refundable fee of $ 1,595 to cover the expense of three appraisals, 2 credit reports, 2 title O&ampE policies, application fee &amp processing&#13

2. If the firm can not lessen the loan principal within 180 days, the one particular time charge is fully refundable

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For further information on the Principal Reduction Program, please go to the organization internet site at http://www.floridaprincipalreduction.com.

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This is the greatest choice accessible to a homeowner who wants to hold his property and can afford to make a payment based on the present industry value. The homeowner will never lose title or home ownership said Bruce To, co-founder of Todays Residence Options of America (http://www.todayhomesolutions.com)

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Home Options of America plans to offer this system nationwide by the third quarter of this year. For much more information about this plan, please check out our site at http://www.homesolutionsfund.com.

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About Today Property Options of America:

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Todays Home Solutions of America is a skilled organization supplying real estate, mortgage, residence solutions, and connected services. The expertise of our principal reduction agents permits us to aid property owners remain in their properties with a decrease mortgage and month-to-month payment. Our firm website also offers a distinctive and easy procedure for people interested in acquiring houses as a location of residence or for investment. In addition, Todayhomesolutions.com functions thousands of brief sale properties, foreclosures, bank owned and MLS listings with color photos, descriptive info, and costs.

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Tom Nguyen&#13

These days Property Options of America&#13

Phone: (888)-392-8640&#13

Fax: (813)-315-6004&#13

http://www.todayhomesolutions.com

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Struggling Home owners Discover True Relief with a Non Profit Law Clinic’s Approach at Mortgage Principal Reduction Versus Failed Loan Modifications

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Santa Ana, CA (PRWEB) December 1, 2010

As the housing crisis deepens, correct relief for homeowners is scarce. A Non Profit Law Clinic with supporters and volunteers that variety from law students, 38 year multi state licensed Mortgage and Real Estate Contract Litigators, Actual Estate/Mortgage Pros to massive Investment Firms has launched a breakthrough method, effectively permitting for a substantial “principal reduction” – one thing unheard of in the Monetary Business till now, by enabling person property owners to participate in a very frequent banking practice.

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Consumer Protection Assistance Coalition (CPAC), an established Non Profit Organization with Federal Government recognition as a 501 c3 Tax deductable organization with a present presence in Washington DC, Arizona, California, Colorado and New York is taking a extremely unique but effective approach to support all families specially these with kids and the elderly facing homelessness due to wrongful or illegal Bank Practices which includes wrongful foreclosure. 1 of CPACs Directors, James Curtis Esq, a practicing Lawyer for almost 25 years and 10 year veteran as lead criminal prosecutor in the Assistant District Attorneys Workplace has attracted a lot of supporters and alliances for their lead to.

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In our struggles to aid families that the lenders have seemed to toss aside out of greed and in most cases very questionable if not illegal actions perpetrated by the exact same lenders our Tax (TARP) Payer Billions went to, we have seemed to have attracted some quite innovative supporters that now let us to supply a true Restructured Mortgage system by making use of the same program these exact same lenders have been utilizing for decades, buying and selling Mortgage Notes back and forth to each and every other, only they never ever permitted the homeowner to advantage from, till now, we get in touch with it Consumer Property Reasonably priced Restructured Mortgage program or just CHARM for short. states Mr. Curtis.

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Mr. Curtis continues In todays Banking atmosphere, Note Holders of House Mortgages are trading, buying and selling both Non Performing as well as Performing Mortgage Notes like a Monopoly game, only with genuine peoples lives that they dont appear to care about. Our strategy is quite simple, however really successful. We assist the consumer with every aspect and level of aggressiveness in approaching their lender to enable a extended term sustainable option to foreclosure. We use numerous different approaches, some quite subtle and non threatening to very aggressive approaches which includes but not restricted to State and or Federal Law suits filed against the Lender and the actual Note Holder for really frequently located errors, blunders, violations or misrepresentations in the loan itself that could make that loan legally unenforceable let alone un-foreclosable.

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According to Mr. Curtis statement, Every 1 knows the lenders have no intention in voluntarily helping the homeowner, not if it causes the lender any variety of loss. Thats why the current failure rate on voluntary lender loan modifications has been reported greater than 99%. I study some where that out of 650k families that finally received a Trail Program, with a guarantee to get permanently modified, only 2000 families received a permanent loan modification. Most of those re-defaulted and were only brief term price reductions that will place the property owner back in the exact same or worse spot in the near future. Mr Curtis continues Sadly the home owners now have really handful of actual alternatives other than what their lenders want them to do, either selling their property, being forced to accept a meaningless temporary interest rate reduction, experiencing foreclosure or discovering a far more aggressive offensive strategy based on the lenders quick comings, thats where we come in. As opposed to other than Non Profit entities paid by, sponsored by or supported by the banks them selves, like wolves in sheeps clothes guarding the hen home. We operate against the bank and only for the Consumer employing Customer Protective Laws and the United States Court Method.

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According to Mr. James Curtis Esq CPAC gives all customers numerous entirely totally free, no charge solutions and goods that numerous buyers benefit from every day, simply because we have a really high level of Banking Pros with in our organization, we actually get a excellent percentage of our clients meaningful and sustainable restructured mortgages with out getting to resort to more aggressive methods, and thats our objective 100% of the time. But in the event that the customer wishes or is forced to by their lender, we put on our boxing gloves and kick them between the legs.

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Mr. Curtis continues If that doesnt get our customer a settlement that they can truly afford, then we are prepared to go the full 12 rounds, but we slide a brick in each and every glove for leverage. Whack the Bank as soon as upside the head then supply them a additional strength Tylenol and a pillow. We have attracted a handful of very intriguing supporters that are investment firms, one is publically traded and other individuals have pledged up to $ 78 million in revolving credit lines and are prepared to buy the Non performing Mortgage Notes or in some circumstances buy the residences from the foreclosing bank and resell the same residence back to the homeowner, home owners and their relatives for close to todays marketplace worth.

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1 firm has agreed to do the same and in fact lease back the residence to the homeowner that was getting foreclosed on and give that homeowner a Purchase Alternative Agreement that will give the homeowner the opportunity to address any financial as effectively as credit issues. We are in fact actively creating great advances in aligning ourselves with a Private Banking institution that will in fact give a new loan to the homeowner even though they are in foreclosure, no other Non Profit or For Profit Organization that I know of can say that. He continues, Our Coalition has many productive instances that resulted in the homeowner that was receiving foreclosed on not obtaining any voluntarily help from their lender either bought their exact same house back for market place worth thru our investment partners or are nevertheless living in the exact same property paying a considerably decrease month-to-month payment, in some instances significantly less a third of what their prior payment was with the very first right of refusal to obtain back their property for close to todays marketplace worth, in a specific case that meant $ 250k less, half of that was previously owed on the very same home to the foreclosing lender with a faulty mortgage loan contract.

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CPAC gives any consumer cost-free consultation, free lender fraud and violation evaluation, totally free permanent principal reduction plan pre-qualification, cost-free loan modification package that is lender certain with net primarily based paperless document upload, storage and instant recall delivery with password protected access for the homeowner or any a single the homeowner wishes to have viewing access to what is now usually getting lost by lenders. CPAC also provides cost-free House Affordable Modification Plan (CHAMP) extended term result assessment and cost-free explanation of customer protective laws, solutions and products that are offered to educate and prepare every customer to make the decision thats correct for them. Some factor your lender and your lenders paid affiliates, such as most Non Profit companys wont do. CPAC will even offer shoppers a cost-free explanation of non legal alternatives that will only aid the customer not the lender then refer or introduce the pre-certified consumer to a vetted skilled specialist to properly execute that option. Why do they do all this for free, effectively they do it hoping that their free of charge services, tips and items do the trick, but in the occasion that a consumer requirements a far more aggressive strategy CPAC desires the shoppers to understand and be aware of other very reasonably priced customer protective legal goods and solutions CPACs Staff Attorneys or Of Council hopefully will assist with, which includes but not limited to Class Action Lender Law Suits seeking Quiet Title, thats a paid off cost-free and clear residence due to lender Fraud, violations, misrepr

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Consumer Protection Assistance Coalition (CPAC) Non Profit Law Clinic Assists Homeowner Obtain Principal Reduction with Foreclosure Lender Law Suit Settlement

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Washington, DC (PRWEB) December 11, 2010

According to CPAC’s court filings, Mr. Wang of California had received a Notice of Trustee Sale on his family’s home well after he was purposely misled by his lender about an ever elusive loan modification that in no way materialized. Despite the fact that, according to court filings, they accepted 10 months of temporary trail modification payments that apparently had been never applied to his mortgage balance. All the while he was being reassured the loan modification looked very good, Mr. Wang stated that his plea for assist was eventually rejected. Mr. Wang states he never ever requested a reduced loan quantity. He only wanted a steady and sensible interest price so he could not comprehend why his lender rejected him. According to Mr. Wang his Lender then recommended he brief sell his residence, he painfully agreed to do so to steer clear of foreclosure but according to Mr. Wang’s licensed True Estate Broker, his lender rejected gives presented to them, so the foreclosure seemed unavoidable. Sounds like a very typical story so far?

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According to Mr. Wang he is now only accountable for a loan balance that is $ 250,000 significantly less on the same home. The 30-year fixed rate now permits the stability he initially was seeking and a payment that is less than half which includes tax and insurance coverage. His prior loan had a crazy variable payment with tax and insurance paid separately that was more than double! What happened you ask? Mr. Wang’s Church referred him to one of the employees members at Customer Protection Assistance Coalition (CPAC) the Non Profit Law Clinic.

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Mr. Charles Ton, a single of the 3 Directors for CPAC and a Licensed Litigation Lawyer was offered to comment Thankfully Mr. Wang was willing to take a a lot more aggressive offensive method and decided to file a Civil Law Suit against his foreclosing lender and the accurate Note holder who we later discovered had no thought Mr. Wang wanted to hold the property let alone in a position to afford the home with a minor modification. We quickly identified what appeared to us as more than 40 State and Federal violations in his loan relationship and instantly filed a law suit on his behalf (Filed 11/12/09 – SUPERIOR COURT OF SANTA CLARA CASE # 109CV1572) CPAC legal staff found what appeared to have not only loan origination but a variety of alleged predatory lending violations as well. Primarily based on the complaint filed with the court, the servicing of the loan was now also in query since of what appeared to be predatory in nature. Charles Ton adds The icing on the cake was that by means of our discovery and investigation we discovered that the original Notes whereabouts might not be so easily identified due to multiple beneficiary transfers, one being the infamous MERS creating the ownership of the Note potentially extremely difficult to prove, in my book no ownership, no standing, no legal standing, no foreclosure.

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Mr. Ton adds Most individuals may believe you want a lengthy high-priced jury trial to get these kind of final results, at least thats what a typical attorney will have you believe. The truth of the matter is these kinds of illegalities misrepresentation and fraudulent organization practices are really generally identified and guess whos recognized this for decades? You guessed it, the lenders and their attorneys. What sets us apart from all other law firms is we are a accurate Non Profit Organization registered with the federal government. Despite the fact that we dont get any government funding but and we would really like to help far more Americans in need to have, we nonetheless do what we can and what we do, no one else does like we do it”.

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According to post litigation records, CPAC arranged a settlement that permitted Mr. Wang, his wife, young children and grandfather to not only move back in to their home, but now the balance owed on the same residence is $ 250,000 much less than prior to. Charles Ton states “We’ve achieved a variety of settlements with comparable final results. The funny point is that in the Wang case, Mr. Wang originally didnt ask for any principal reduction at all, he only asked his lender for a easy stable price adjustment. People dont understand that majority of houses obtaining foreclosed on right now are really questionable and could not even be legal as has been quite recently produced public by the 50 atate lawyer generals investigation. We want individuals to recognize that this is our mission, educating the public that the United States court technique can and will defend the consumer the customer just demands to know who, how and when.

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Charles Ton continues to state With the modest amount of resources we have and the cooperation of the customer we turn the tables on the lender. We pre-qualify the homeowner for one particular of numerous permanent principal reduction applications for free of charge although we carry out a cost-free Lender Fraud and Violation Evaluation and educate and inform Americans of their God given consumer civil rights.

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Consumer Protection Assistance Coalition (CPAC), a federally registered Non Profit Law Clinic with locations in Arizona, California and Washington DC can aid struggling property owners in 48 States thru reputable and knowledgeable Licensed Attorneys in every State. CPAC delivers many totally free services and merchandise to these who might advantage from them as effectively as extremely aggressive and effective legal representation when necessary. Mr. Ton adds “Tell your neighbor, co-worker, pals and loved ones that its by no means too late, weve helped men and women even following theyve been foreclosed on and accomplished complete trustee sale reversals, even if your existing on your loan and just want out, we don’t operate with your lender, we function against them using a venue that makes it possible for the average American to beat the Wall Street tycoon.” Charles Ton makes his final comment “As soon as the American consumer decides that he has had adequate of being abused by their lender they have power. The energy of the court system, this kind of energy can result in our court method figuring out that the lender was in fact in the incorrect and the American consumer will have his day in court. Possibly even get a the whole loan eliminated! Quiet Title suits until now have been believed to be a myth, not now, not right here in California like the current Nguyen vs. Chase Bank (Case cv09-4589-AHM filed in U.S District Court) related to Mr. Wang, he decided to use the court system and now he not only gets to maintain his home, but even greater than Mr. Wang’s outcome, according to the Judges ruling the loan was entirely eliminated! This is how strong and how fair our court method can be when individuals make the choice to use it when they’ve had adequate”. CPAC Non Profit Law Clinic. (866)773-7864 or visit us on our web website at http://www.CPACaid.org.

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Discover Much more Loan Modification Services Press Releases

Needs to Qualify and Get Approved for Principle Reduction Loan Modification DOJ Settlement. Brief Sales Could be a Great Viable Choice if Borrower is Not Authorized, According to ACL Genuine Estate

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Oakland, California (PRWEB) October 15, 2012

Specifications have finally been created obtainable to the public on terms amongst the US Justice Division and Bank of America, Chase, Wells Fargo, Ally Financial (formally Gma) and so on. Its crucial to check directly with your States Attorney Generals Office to figure out what, if any, special specifications/ were integrated.

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If one is unable to qualify for the principal reduction loan modification. A Brief Sale Might Be a Excellent Viable Option If Borrower Is Not Approved. East Bay (Oakland, Berkeley, San Leandro, Castro Valley, Hayward) urged to Speak to a Neighborhood Actual Estate Agent for a specialist opinion on listing your house for a brief sale. &#13

ACL Genuine Estate and Home Management Specializes in all factors pertaining to Distressed Actual Estate and Property Management.

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Valuable Hyperlinks:&#13

Net Present Value Calculator: http://www.CheckMyNpv.com

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Potentially Eligible Borrower. A Potentially Eligible Borrower is a borrower who meets the following criteria:

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i. The borrower presently holds the mortgage and was the owner occupant of the residential home securing the mortgage at the time of origination.

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ii. The borrower has not previously defaulted on a modification that afforded terms equal to or a lot more favorable than these in the HAMP guidelines.

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iii. The loan-to-worth ratio (LTV) of the home securing the borrowers mortgage exceeds 100% at the present marketplace value of the home.

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iv. The borrower is a single whom “BOA” are not prohibited or prevented by law or by contract either from soliciting or from providing principal modification.

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g. Necessary Documentation. Necessary Documentation shall consist of the following documents:

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i. Credit Report.&#13

ii. Salaried/Hourly Wages Most current pay stub.&#13

iii. Self-Employed Verbal financial information followed by completed P&ampL template certified by client.

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iv. Alimony and Youngster Assistance Copy of legal agreement specifying quantity to be received (client shall certify twelve-month continuance if not included in legal agreement) and most recent bank statement, deposit slip or canceled verify as evidence.

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v. Other Taxable and Non-Taxable Rewards (Social Safety /Disability / Pension / Public Assistance) Award Letter OR most current bank statement and, if non-taxable, also want 4506-T.

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vi. Rental Income Signed letter from customer detailing specifics of rental income and most recent bank statement, deposit slip or

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A Settlement Loan Modification is a modification made according to the following priority:

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i. All delinquent interest payments and late charges will be capitalized.

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ii. Principal will be forgiven in the quantity necessary to obtain a DTI of 25%, subject to the provision that the LTV require not be decreased below 100%.

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iii. If, following the principal reduction step, DTI is above 31%, the interest rate will be lowered to the extent necessary to achieve a DTI of 31%, but in no event will the interest price be lowered below two% (starting at year 5, any lowered interest rate will be adjusted upward, so as to boost the net present value (NPV) of modifications). HAMP step price requirements will be utilized, as summarized beneath:

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1. Modified price no lower than 2% is in impact for 5 years.

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two. At the end of 5 years, the rate steps up at (up to) 1% per year, till the PMMS rate in effect at the time of the modification is reached (rounded to the nearest eighth).

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For comprehensive settlement Click Here

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Lance Denha Discusses Bank of America Announcement to Widen Its Principal Reduction Offerings

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(PRWEB) May 16, 2012

Bank of America announced last week that it has started sending letters to thousands of homeowners in the United States, offering to forgive a portion of the principal balance on their mortgages by an estimated average of $ 150,000 each. This reduction for qualifying homeowners could amount to monthly savings of up to 35 percent on mortgage payments, Bank of America said in a news release on May 7, 2012.

The principal reduction offers from Bank of America Home Loans are the direct result of a $ 25 billion settlement agreement earlier this year with 49 state attorneys general as well as federal authorities who had been investigating allegations of abuses over the handling of foreclosures, as reported in March of this year by the Associated Press. To the extent principal reduction and other modification tools help us turn mortgages headed for possible foreclosure into long-term performing loans, it will be positive for homeowners, mortgage investors and communities, Ron Sturzenegger, a legacy asset servicing executive, said in the statement. Lance Denha, Esq. of the Law Offices of Lance Denha commented however that The banks involved have up to three years to meet the provisions of this settlement although there are incentives for banks to assist homeowners in the first twelve months.

Bank of America said it planned to contact more than 200,000 homeowners who could be candidates for the offers, sending letters to a majority of them by the third quarter of this year. To be eligible for the principal reductions, however, homeowners will have to meet certain criteria, including: having a loan owned or serviced by Bank of America; owing more on the mortgage than their property is worth; and being at least 60 days behind on payments as of the end of January. Mr. Denha was quick to note, Catering only to those borrowers 60 days or more behind on payments has the added benefit to Bank of America to avoid any potential legal hurdles in cases where shoddy paperwork makes it difficult for them to prove it owns the mortgage and has the right to foreclose. Its a strategic move by Bank of America to assist those homeowners that it initially tried to foreclose on during the Robo-signing period that resulted in the settlement. Many of the original problems and irregularities still exist. The Associated Press noted at the time of the settlement that Bank of America had the largest financial obligation under the settlement at $ 11.8 billion.

The bottom line is this, says Lance Denha, Those who help themselves succeed more than they fail. Those who are conditioned to waiting for the state or federal government to make the banks do the right thing are likely to find themselves with few options. The wise homeowner is already pursuing his bank in the right medium: the courtroom. He is well-prepared, usually has retained an attorney, has the evidence of a securitized loan audit and can prove his case.

The Law Office of Lance Denha P.A. is committed to ensure that every possible avenue is pursed so that the homeowners legal rights are preserved. Actively monitoring the ever changing landscape of foreclosure laws, recent foreclosures across the nation as well as state imposed rules and procedures associated with foreclosure, is vital to ensure and protect these rights. The Law Offices of Lance Denha P.A. is a multistate law firm and helps legally defend wrongful foreclosure actions and utilize any and all legal tactics available to help accomplish preserving homeowners rights. For further information or assistance, please call at 954-840-0770.







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