Tag Archives: Rise

Damaging-Equity Causing a Non-Stoppable Rise in Strategic Defaults

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San Francisco, California (PRWEB) October 7, 2009

Regardless of the current positive news in the California Housing Industry, greater priced genuine estate is anticipated to continue to plummet, according to Hannah Fliegel, credit restoration specialist, who added that the higher unemployment price and lack of customer spending will make the bottom difficult to predict.

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Fliegel invites property owners concerned about their existing scenario to a free Mortgage Possibilities Workshop she will chair on Saturday, October 24, 2009, from ten:00 a.m. at the Corte Madera Recreation Center. In addition to Fliegel, guest speakers will include Dan Sturm, Lawyer at Law a specialist in “lien stripping” and David Smadbeck, a realtor who will go over brief sales. Lien stripping is a confirmed approach for borrowers who have massive second mortgages and credit card debt.

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Whilst several are focused on the credit crisis, Fliegel sees the amount of debt to be the financial calamity. “We as a society have taken on as well a lot debt. Till this debt works itself via the financial program we will continue to see discomfort,” stated Fliegel.

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“What I uncover astonishing is the enormous amounts of strategic defaults in the pipeline,” adds Fliegel. Home owners can make the payment but decide on not to simply because of damaging equity, meaning a mortgage that is bigger than the worth of the home. Property owners preserve saying that their credit will recover more rapidly than the equity in their residence or investment properties.

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This is evidenced by recent Fitch reporting that “remedy rates” for prime and ALT A borrowers have fallen collectively to 5.%. This signifies that when most high end borrowers miss a single payment, about 95% of those households are selecting to quit generating payments. These people are selecting to strategically default.

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Recently, Meredith Whitney, formerly Chief Economist for Oppenheimer indicated on CNBC, that residence values will continue down another 25% nationally. This translates to a possible 30 – 40% downward spiral in overvalued California residences, especially the higher end residences. It undoubtedly seems to be the case, the decrease priced houses are becoming absorbed swiftly based on affordability and the government sponsored tax credit.

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Other choices that will be discussed at the upcoming workshop incorporate: Refinance, Loan Modification, Quick-Refinance, Hybrid Brief Sales, Loan Audits, Deed-in-Lieu, Money for Keys, and much more.

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Fliegel counsels home owners and genuine estate investors who are concerned about their credit rating. “There is a little known approach to safeguard a consumer’s credit rating,” adds Fliegel. The borrower need to send the lender a Qualified Written Request prior to defaulting on their mortgage payment. If the lender does report the “late payments” on the consumer’s credit reports the lender need to take away the reported late payments and spend penalties, due the borrower. “The legal method in this country is starting to realize that property owners have been place at threat because of Predatory Lending techniques,” says Fliegel.

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R.S.V.P. for the workshop at: 415-927-5072. All attendees will obtain a copy of Fliegel’s new E-Book.

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Make contact with: Hannah Fliegel&#13

415-999-9348 Telephone &#13

http://www.Foreclosureoptionsnetwork.com

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Certified Economic Protection Group: Trial Loan Modifications on the Rise

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Temecula, CA (PRWEB) October 1, 2009

The number of shoppers becoming provided trial loan modifications is on the rise. Although buyers seek permanent solutions to their mortgage associated hardships, these trial loan modifications usually give buyers a 3 month reprieve from their normal mortgage payments. Buyers are still left wondering if their house will at some point be foreclosed on or if they will be in a position to affordably remain in their homes.

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“We have definitely noticed an escalating number of shoppers complaining about trial loan modifications supplied to them by their lenders” mentioned Don Brokaw, Director of Operations for Certified Financial Protection Group. “What shoppers want is a permanent modification to the terms of their loan. A lot more typically than not, shoppers are turning to us for help in acquiring a permanent loan modification as they feel they are receiving nowhere quick with their lenders. Even if borrowers make their trial loan modification payments on time, there is still a possibility that after the trial period is over, the banks will not approve them for a loan modification and foreclose on the borrowers home.”

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The common trial loan modification is provided by many lenders throughout the nation as a 3 month trial period. Borrowers are told that if they make their trial loan modification payments on time that there is a possibility that their trial loan modification terms will be produced permanent. Nonetheless, there are no guarantees. These trial loan modifications can support the customer remain in their home in the quick term whilst lenders figure out if they qualify for a permanent resolution.

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About Certified Monetary Protection Group

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CFPG helps attorneys and other qualified specialists outsource high-priced forensic loan auditing and loss mitigation processing functions economically and effectively. For more than two years, CFPG has been capable to assist thousands of attorneys and other qualified experts reduce their operating expenses and overhead with the highest good quality forensic loan auditing and loss mitigation processing solutions in America.

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For much more info, Certified Financial Protection Group can be reached at +1-888-861-2135 and at, http://www.certifiedfinancialprotectiongroup.com

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Post Comment: Trackback URL: http://certifiedfinancialprotectiongroup.com

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Florida’s Affordable Loan Modification Business Keeplivinginyourhome.com Comments On Rise In Foreclosures

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Boca Raton, FL (PRWEB) December 21, 2009

With the existing unemployment price in the U.S. rising to almost 10%, the foreclosure crisis has impacted practically 938,000 properties amongst July to September, compared with 890,000 in the earlier quarter, and a 23% increase from the third quarter of 2008. According to RealtyTrac, if this trend continues, foreclosures may hit about 3.five million this year, compared to two.three million homes last year.

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With foreclosure prices rising, it is critical for property owners to be educated about how they can avoid foreclosures. Although the Federal Governments $ 75 billion loan modification system has accomplished its objective of starting trial loan modifications for 500,000 financially-troubled home owners, a huge quantity of property owners are still at threat, said Farid Dallal, owner and CEO of Keeplivinginyourhome.com Loan Modifications.

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According to Mr. Dallal, although numerous lenders consider troubled homeowners for a mortgage modification to steer clear of foreclosure, a lot more borrowers could face foreclosures as their moratoriums end. I think that home owners must be given the opportunity and support needed to preserve their properties. The loan modification procedure can be quite confusing for home owners. The reality is there are no genuine set parameters that qualify a homeowner for a modification, mentioned Mr. Dallal.

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He also added that most banks are at the moment taking amongst six months to a year to make a decision on a mortgage application. Quite often, soon after waiting for so lengthy, the loan modification is denied and the homeowner has to eventually face foreclosure. Purchasers who apply for loan modifications need to 1st realize what the approach entails. Loan modifications can affect your credit rating by a 50-one hundred points. If your economic situation is only temporary, it may not be the very best alternative considering that it would be tough to rebuild your credit.

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To avert a foreclosure, Mr. Dallal advises borrowers to get in touch with their lender to go over foreclosure prevention alternatives as quickly as they comprehend they have a issue generating payments the longer they wait, the fewer options they may have. They must also be wary of foreclosure recovery scams and educate themselves about their mortgage rights and foreclosure laws and time-frames in their state.

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At Hold Living In Your Home, we think the greatest way to keep in your home with an cost-effective payment is to assess the existing circumstance and decide what methods are required to qualify for a refinance. A refinance has set parameters that have to be met in order to qualify, which helps our loan officers determine what needs to be carried out to make the refinance a reality, Mr. Dallal commented.

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For more info, contact 1-877-500-3001 or check out http://www.keeplivinginyourhome.com/loanmodification/loan-modifications/checkeligibility.asp

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About Keep Living In Your Property, Inc.

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Maintain Living In Your Residence is a cost effective loan modification company, that offers loan procedure, refinance, property obtain, debt consolidation, and house equity loan solutions. The company gives consumers with the knowledge they need to make the appropriate decisions to move forward with the loan approach. With its very knowledgeable and skilled mortgage consultants and processing division, Keeplivinginyourhome.com Solutions offers consumers the greatest loans to fit their wants. As an business leader, the company takes pride in its vast knowledge of the mortgage industry and the items it delivers to borrowers. For much more details, pay a visit to http://www.keeplivinginyourhome.com/loanmodification/loan-modifications/states.asp?id=32

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Keeplivinginyourhome.com is now focusing its loan modification services on the comply with states. Alabama Loan Modification, American Samoa Loan Modification, Arizona Loan Modification, California Loan Modification, Colorado Loan Modification, Connecticut Loan Modification, District of Columbia Loan Modification, Federated States of Micronesia Loan Modification, Florida Loan Modification, Guam Loan Modification, Hawaii Loan Modification, Idaho Loan Modification, Indiana Loan Modification, Iowa Loan Modification, Kansas Loan Modification, Extended Island Loan Modification, Louisiana Loan Modification, Maine Loan Modification, Massachusetts Loan Modification, Michigan Loan Modification, Minnesota Loan Modification, Missouri Loan Modification, Montana Loan Modification, Nebraska Loan Modification, Nevada Loan Modification, New Hampshire Loan Modification, New Jersey Loan Modification, New Mexico Loan Modification, New York Loan Modification, North Carolina Loan Modification, North Dakota Loan Modification, Oklahoma Loan Modification, Oregon Loan Modification, Puerto Rico Loan Modification, Rhode Island Loan Modification, South Carolina Loan Modification, Tennessee Loan Modification, Texas Loan Modification, Utah Loan Modification, Virgin Islands Loan Modification, Virgina Loan Modification and Washington Loan Modification.

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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

New York-Based Debt Collection Agency CEO Issues Response to the Rise in the States Debt Collection Lawsuits

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Bohemia, NY (PRWEB) June 16, 2013

On June 16, 2013, John Monderine, CEO of New York-primarily based accounts receivable collection agency Speedy Recovery Solution, comments on an write-up explaining how the number of debt collection lawsuits are rapidly rising due to collectors sewer service tactics.

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According to a June 11, 2013 report from Business Week, How Debt Collectors Ruin Credit Reports With Sewer Service, the New Economy Project reports in 2011 there had been upwards of 200,000 debt collection lawsuits in New York State. Debt collectors have been capable to win judgments by default since borrowers failed to show up in court due to sewer service tactics. Creditors who engage in these tactics send subpoenas down sewer drains rather than to the recipients.

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Men and women discover that these unknown default judgments come back to haunt them when applying for a loan. Internet designer Brian Pindell explains the difficulty in attaining a disaster loan from the Tiny Enterprise Administration: The SBA denied my application since of two judgments that have been apparently on my credit report. Pindell was never ever notified of either judgment, and received no subpoenas.

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John Monderine, CEO of Speedy Recovery Solution, one of New Yorks premier commercial debt collection agencies, says that totally free credit checks can support decrease the probabilities of becoming a victim of unethical techniques. Free of charge credit checks can aid consumers discover out if they are becoming subjected to these crass tactics otherwise any blip on an individuals credit report will show up when least anticipated. At that point, there is quite small a consumer can do to mitigate the scenario. If a default judgment is ascertained swiftly, consumers can create to credit bureaus explaining why theyre becoming judged. Supplied their credit reports are clean, judgments will most probably be disregarded.

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Default judgments are quite difficult to overturn by modest enterprise owners who find themselves in such as a predicament, as former collection agency owner, Michelle Dunn explains. You can no longer dispute the debt, she says. If its a small claims quantity, you paythats what most individuals do. If its a bigger amount, you can get an attorney, but a judgment genuinely is a final judgment.

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Founded in 2006, Rapid Recovery Solution, Inc. is headquartered at the highest point of lovely Extended Island. Speedy Recovery Collection Agency is committed to recovering your funds. We think that each debtor has the capability to pay if motivated appropriately. We DO NOT alienate the debtors we attempt to align with them and offer a quantity of ways to resolve not only your debt but also all their debts.

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Chicago Short Sales Nevertheless on the Rise Slow Housing Industry Recovery Predicted

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Chicago, IL (PRWEB) June 07, 2011

Down 19.two % from April of last years, the number of current home sales in April 2011 in the Chicago area showed an increase of 7.3 % from that of March as the traditionally busier spring property-purchasing season set in. A considerable percentage of these home sales had been quick sales, according to Chicago and Westchester brief sale specialists Denise and James Orrico.

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Identified as the Orrico Team, they are closely monitoring trends in the real estate marketplace in the region, 1 of the most substantial of which is the rise in quick sales. Citing U.S. Treasury Secretary Timothy Geithners not too long ago released statement on housing recovery, they also report that the marketplace is most likely going to take a few a lot more years to recover.

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We dont see the housing marketplace making a full recovery yet this year or, certainly, if house sales and rates will ever go back to the levels that they have been at just before the recession, says Denise Orrico. Nevertheless, there is some relief for underwater property owners in the reality that the banks are selecting up their speed a bit when it comes to negotiations for both brief sales and REO or foreclosure properties.

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There has been a rise in Chicago brief sales considering that the start of the downturn and its a quantity that could boost if the bill being considered in Congress must pass, adds James Orrico. He is referring to H.R.1498, the Prompt Decision for Qualification of Brief Sale Act of 2011, which provides lenders a 45-day deadline for deciding on short sale provides. If passed, the bill could aid shorten and simplify the quick sale process.

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For several distressed home owners in danger of losing their home to foreclosure, a quick sale is frequently the very best selection. The Orrico Group has substantial knowledge with short sales throughout the Chicago metro location, like Glen Ellyn short sales for sale. The group performs mainly with home owners who are underwater with their mortgages and have been unable to have a loan modification approved.

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Possibly theyve lately been by way of a divorce or have had their incomes lowered due to job loss or a death in the household, or possibly they need to move but cannot sell their home for the quantity that they owe on their mortgagewe realize how unpredictable life can be and our goal is to assist our customers uncover the ideal answer, says Denise. If they are considering about receiving the short sale method started, Jim and I are here to help with all facets of a brief sale, from listing to promoting to coaching and counseling. The Orrico Team closes on 99% of the listings that they obtain contracts on and this is quite an impressive success price thinking about the complexity of brief sale negotiations.

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To learn more about the Orrico Teams quick sale solutions and the actual estate industry in Chicago, visit their internet site at http://www.OrricoTeam.com or get in touch with them straight.

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Kramer and Kaslow: Reports Show Foreclosures Lead to Rise in House Defense Crimes

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Calabasas, CA (PRWEB) June 14, 2011

According to Philip Kramer, lead attorney for the Law Offices of Kramer and Kaslow, property defense crimes may possibly be on the rise. The lawyer cites a Might 19, 2011 New York Times report. The article reports that, on Jan. 19, 63-year-old Tanya Dennis hired a locksmith and broke into her South Berkeley residence. This practice has come to be recognized as residence defense. Home defenses are on the rise, Anthony Panarese, an organizer with the Alliance of Californians for Neighborhood Empowerment, a coalition of neighborhood groups, is quoted in the post.

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Sector analysts additional explain in the New York Occasions piece, The circumstance is exacerbated by Californias dual-track foreclosure law, which allows a lender to negotiate with a homeowner even though also continuing the foreclosure method. In a lot of circumstances, the bank doesnt recognize the homeowner has a modification pending or even approved, and the bank is continuing its foreclose procedure, said G. Marcus Cole, a Stanford University law professor.

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California-based, consolidated plaintiff litigation lawyer Philip Kramer, senior partner in the law firm of Kramer &amp Kaslow observes, I realize the impulse. The scenario is chaotic and unfair. In the end, this has to be resolved in the courts.

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Far more of Philip Kramers analysis can be identified at the Law Offices of Kramer and Kaslow weblog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior companion of the Law Workplace of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on business litigation, and actual home matters. He has prosecuted and defended instances for over twenty 5 years.

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Mr. Kramer is a licensed genuine estate broker and has spent considerable time providing legal services in connection with actual estate concerns relating to loan modification and loss mitigation, land use and zoning, environmental problems, easements, construction and improvement, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice just before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 circumstances. He has appeared on nationally televised applications with regards to pre-trial process and trial approach and has appeared as a guest lecturer on subjects ranging from constitutional law to trial practice, and Mr. Kramer often lectures on a broad spectrum of numerous legal and enterprise issues.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession. He also serves on several Boards of Directors and serves as an officer in a lot of firms. For much more information get in touch with (818) 224-3900 or go to http://kramer-kaslow.com

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Underwater Mortgage Issues Rise As Nearly 1/four All Households Have Unfavorable Equity

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Salt Lake City, UT (PRWEB) September 27, 2012

A lot more and much more home owners are facing the harsh reality that their residences could be upside down or have an underwater mortgage for years to come. “It really is unfortunate that so numerous home owners got caught purchasing a property at the height of the market place. Most of them now have underwater mortgages and they owe a lot far more than what their residence is worth,” says Jarad of Foreclosure University.

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Unfortunately, when a home is upside down, the homeowner does not have numerous alternatives if they run into any monetary hardships, which is quite widespread appropriate now. A lot of homeowners are losing their jobs or cutting back because of financial circumstances. If they cannot afford their mortgage payments any longer and are caught with an underwater mortgage, there is not significantly they can do.

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They can’t sell their house since no one is going to pay above what it’s worth. Renting may possibly be an choice, but in most instances it is not. They can not refinance. Loan modifications are short-term and unsuccessful most of the time.

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Now they face a difficult choice on what to do. A lot more and far more homeowners are strategically defaulting on their residences simply because they do not see any other option. A quick sale might be a very good alternative but they still have to move out and it affects credit.

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Now there is a solution. Foreclosure University launches a new underwater mortgage campaign specifically targeting home owners that are upside down with 2nd mortgages. They have located a resolution that enables them to minimize 2nd mortgages up to 95% of their loan balance.

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The home owners get to keep in their homes, reduce their month-to-month payments, produce equity when once again, and not impact credit. This could be a large break for property owners who have underwater mortgages seeking to establish equity once once again.

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To learn far more about the underwater mortgage campaign check out http://www.ForeclosureUniversity.com

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Loan Officer Jobs In Orange County CA Are In High Demand As Loan Originations Are On The Rise

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Orange County, CA (PRWEB) February 04, 2013

It was only a handful of years ago when you couldn’t locate a job anyplace in Orange County if you had been a loan officer. Following the housing bubble, numerous loan officers got into the loan modification company. But now with interest rates being so low and the industry stabilizing in particular areas, licensed loan officers are in demand. AnikimCreditCorp.com a nationwide recruiter for mortgage bankers and brokers, is combing their databases for originators that are licensed and prepared to function. Mortgage loan officer jobs in Orange County CA have been on a steady climb more than the final year, but the final quarter has been intense. To learn much more about the opportunities obtainable in Orange County California visit, http://AnikimCreditCorp.com.

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All the mortgage markets in Southern California appear to be hot, at least for needing new mortgage originators. Reverse mortgage San Diego lenders are also obtaining a challenging time locating qualified folks to represent their banks. Also, numerous reverse mortgage Orange County firms are competing with regular lenders as properly brokers fighting to locate licensed agents. It appears to be an all-out frenzy to grab everyone they can to manage the call volume. The want for loan officers in Orange County does not look to be going anyplace anytime soon. To view some of the recruiting videos launched by the mortgage recruiter pay a visit to, http://www.youtube.com/watch?v=Ibx_UqBYKYM

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When loan officers are entering into the mortgage organization for the 1st time they appear to adapt to the guidelines and regulations nicely, says a representative of the recruiting organization. Its when the folks that are obtaining back into it following a few years that are amazed with all the new specifications. A lot of factors have changed for mortgage originators considering that 2008, and some uncover themselves overwhelmed with receiving effectively licensed. Also, a lot of dont recognize the time it can take to get licensed, from test, to application, to approval. One particular must take the National exam and pass, then go a single and take every single state that they want to originate in. This is time consuming and pricey, to be in a position to do loans in a handful of states takes months and a number of thousand dollars. For this explanation, there are not numerous mortgage loan originators in Orange County, causing a shortage.

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The firm is employing every single marketing approach in the book to acquire new agents for their partners. Social media, video campaigns and making use of job posting web sites on-line is helping the firm to satisfy some of the clientele. But with the steady require for new loan officers, its difficult to locate certified agents for all.

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About the organization Anikim Credit Corp. was started following the mortgage crisis to assist struggling loan officers and net branches find mortgage banks that have been capable to sustain via the tough instances. Considering that then the company has built relationships with banks and brokers throughout the county and helps spot originators with the proper locations to fund loans.

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