Tag Archives: Stopping

New Book Gives Approaches for Stopping, Surviving and Overcoming Foreclosure

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Washington, DC (PRWEB) September 10, 2008

The American Nightmare is a new book by veteran housing counselors Sylvia Alvarez and Walter Walker Jr. that offers distressed homeowners tips and strategies that can help them avoid, survive and overcome foreclosure. The book offers a step-by-step analysis of the reasons people wind up in foreclosure, the obstacles they must overcome and the practical solutions available to them. Published in partnership with the National Association of Hispanic Real Estate Professionals (NAHREP), FREE downloadable excerpts from The American Nightmare are available in English and Spanish and include important information about your options if you are in default on your mortgage.

The authors were inspired to write the book after being deluged by people in financial distress, seeking help from the prospects of foreclosure. The book offers the same practical advice they have delivered to thousands of beleaguered homeowners, many whom were able to overcome foreclosure. Readers will learn about the most common reasons why people end up in foreclosure, the lender’s perspective in the foreclosure equation and what homeowners can do to negotiate a favorable outcome. FREE downloadable excerpts from the book offer homeowners advice on options to take if they are in mortgage default, including:


What the lender needs to know about the homeowner’s financial situation;
How to negotiate a workout agreement;
How to develop a debt repayment plan;
The definition of a mortgage modification and what the lender needs to know before they agree to adjust the interest rate on a loan;
What is a partial claim and how it can be used to help move a homeowner out of default;
What is a short sale and when is it a good option for homeowners.

“American Nightmare offers distressed homeowners practical advice on what to do if they are behind on their mortgage. Too many times, people are doing nothing to save their homes simply because they don’t know their options. Becoming informed about the tools available to them is the first critical step they must take,” said Rebecca Gallardo-Serrano, Chairman of NAHREP.

The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in Washington D.C., NAHREP is the premier trade organization for Hispanics and has more than 15,500 members in 48 states and 62 affiliate chapters.

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Stopping Foreclosure on Properties is Now Less difficult with Brief Sales, According to AvoidForeclosure.com

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Phoenix, Arizona (PRWEB) June 04, 2012

Stop foreclosure are two words that numerous home owners going by way of the foreclosure process by no means get the possibility to hear. Foreclosure figures in most states have now hit the highest numbers considering that the recession started in 2008. http://www.avoidforeclosure.com, the on-line foreclosure support center, has announced a short sale package that can assist a homeowner quit foreclosure much easier. This program is developed to aid home owners with underwater mortgages and those that have run out of options find desperately needed relief. There are couple of possibilities that a individual can discover after a certain time deadline has passed. A quick sale is a single strategy that has been established effective by some home owners that have battled against foreclosure and won.

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One topic that is hotly debated as a way out for property owners is the loan modification. This classic route entails a homeowner creating a hardship claim in writing to a bank, lender or economic institution that solutions or owns their mortgage. There is at present no published data available publicly that can show the approval rate of a loan modification. The approach of evaluation can take six months or a lot more to complete and some home owners may locate that a loan modification is not the way out that they thought. Some of our every day telephone calls deal with property owners that have been waiting months at a time for notification of a loan modification approval request, stated Sandy Michaels, Get in touch with Center Supervisor for AvoidForeclosure.com.

Upbeat Minnesota Foreclosed Residences, Fannie Mae, Freddie Mac Q3 Report Shows Progress In Stopping Foreclosures

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Minneapolis, Minnesota (PRWEB) January 05, 2013

The Minnesota Foreclosure Prevention Q3 report states, “There had been 4,451 foreclosures in Minnesota in Q3 of 2012, down 10 % from Q3 of 2011. Although Metro foreclosures (down 12%) saw a greater drop than Higher Minnesota (down 7%), the relative relief was widespread, with the prime 10 counties in foreclosure seeing declines, year-over-year”. Although declines in Minnesota house foreclosures reflect a statewide trend over 20011 – 2012, the number of foreclosed houses are nonetheless historically high, upwards of 300% higher than foreclosure totals in years prior to the housing crisis.

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Lenders, who have frequently resisted erasing mortgage debt, are now forgiving millions of dollars in house loans. The distinction indicated in the Foreclosure Prevention Report has come from government incentives, political pressure, and a $ 25 billion settlement amongst 5 major lenders and 49 attorneys basic. “Property owners, feeling ‘stuck’ unable to sell their residence before they can get a new one, are properly locked out of the housing market. Five years into the housing recession, theyre also more likely to think about the drastic move of walking away from their mortgage, adding to shadow inventory,” says Jenna Thuening, owner of Property Location.

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Highlights in the Minnesota Foreclosed Properties Q3 Report show powerful and steady progress&#13

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Twin Cities foreclosed residences in 2011 Q3 totaled 2,969&#13

Twin Cities foreclosed houses in 2011 Q3 totaled 2,615&#13

Twin Cities foreclosed houses down 11.9%&#13

31 counties reported far more foreclosed residences and 58 counties showed fewer foreclosed homes

Encouraging news released January three by the Federal Housing Finance Agency (FHFA) that Fannie Mae and Freddie Mac completed much more than 134,000 foreclosure prevention actions in the third quarter of 2012.

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Leading Points In TheFHFA Foreclosure Prevention Report:

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1) Year-to-date, Fannie Mae and Freddie Mac have helped property owners by facilitating roughly 411,000 foreclosure prevention actions.

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two) Almost 38,000 quick sales and deeds-in-lieu of foreclosure had been completed in Q3 of 2012, up 4 percent over Q2.

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three) 45 percent of struggling residence borrowers who received loan modifications in the third quarter reduced their monthly payment by over 30 %.

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four) Much more than a single-third of loan modifications completed in the third quarter integrated principal forbearance. NOTE: see explanation that principal forbearance is not the very same as principal reduction.

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five) The number of the Enterprises delinquent borrowers has declined 9 % since the beginning of 2012.

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six) REO inventory continued to decline as property dispositions outpaced house acquisitions in the course of the third quarter. An REO (Genuine Estate Owned) is a home that goes back to the mortgage firm right after an unsuccessful foreclosure auction and are typically in poor condition.

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To help stabilize the housing industry, proponents of principal reduction argue that each home owners and lenders are far better off avoiding those defaults. The recent National Mortgage Settlement between 49 states, numerous federal agencies and 5 big banks is hoping to market the practice by providing those lenders with incentives to reduce loan balances, says Thuening. Home Location sees the following techniques foreclosure prevention actions effect home owners:

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House Forfeiture Actions

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1) Brief Sales&#13

two) Deeds-In-Lieu of Foreclosure

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Home Retention Actions

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1) Forbearance Plans&#13

two) Repayment Plans&#13

3) Loan Modifications

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Calculated Threat explains what this term ‘principal forbearance’ actually means. What the FDIC apparently implies by ‘principal forbearance’ is not what most men and women think they mean by ‘principal reduction’. Nonetheless, with the principal, what the FDIC is performing is not forgiving principal but providing an interest-totally free forbearance of repayment of part of the principal. This indicates that the actual principal amount due and payable at maturity of the loan (or sale of the home) is the original unmodified principal quantity, much less any and all periodic principal payments the borrower makes until maturity or sale.

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Quick sales and deeds-in-lieu spare the home owners from the foreclosure method. Even so, they still have to leave their properties and that is traumatic for the homeowner. “The preferred outcome is to preserve property owners in their houses, if attainable, with a permanent principal reduction. Housing and Urban Development (HUD) Secretary Shaun Donovan mentioned his agency wants to encourage much more principal write-downs to keep people in their properties, even when those loans are backed by Fannie Mae and Freddie Mac,” according to a report in The Hill posted on March 4, 2012 titled Dems Raise Pressure on Fannie, Freddie Regulator to Create-down Mortgages. The Foreclosure Prevention Report for 2012 shows the dedicated efforts of Fannie Mae and Freddie Mac to that finish.

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Twin Cities homeowners may possibly get in touch with 612-396-7832 and ask for Property Destination’s assist to quit foreclosure and enjoy staying in your house.

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Stopping Online Banking Fraud By means of Anomaly Detection

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San Jose, CA (PRWEB) June 03, 2013

nProtect, a worldwide Net and mobile security leader, announced the release of nProtect Fraud Detection Technique, to offer financial institutions with a solution to proactively avoid on-line banking fraud.

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Detecting on the web banking fraud and taking actions following they occur can cost financial institutions millions of dollar in loss. As soon as on-line fraudsters have currently produced fraudulent transfers, economic institutions might not be able to recover the lost income. Usually malware utilised by fraudsters target certain financial institutions infecting several customers at when, the monetary loss can be higher and brand substantially broken.

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Just before fraudulent attacks occur, monetary institutions require to concentrate on detecting anomalous transactions and stopping them in advance. Monetary institutions have all the essential details transaction amount, date, place, and frequency to monitor and detect abnormal activities to safeguard their on the internet banking consumers.

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nProtect has released the nProtect Fraud Detection Technique (NFDS) to monitor and analyze on-line transactions for abnormal behaviors and safeguard monetary institutions and users against net fraud. The NFDS answer collects details to generate a pattern DNA for each on the web banking client and detects paterns and blocks the transactions in genuine-time. Administrators are alerted of policy rule violations and reports and statistics are accessible for regulatory compliance and auditing.

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The monetary institutions can monitor the online banking clientele geo-place to IP address to be utilised to generate person evaluation of pattern. By picking much more in-depth info such as the clientele operating method, MAC address, and proxy IP, economic institutions have a greater probability of blocking fraudulent transactions and tracking down online fraudsters.

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Although its often important for online banking consumers to have anti-malware tools that can aid avoid on-line frauds from occurring, adding a number of layers of safety is advised to safeguard the financial institutions and on-line banking consumers private identity and money.

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About nProtect, Inc.

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Founded in January 2000, nProtect, also known as INCA World wide web, is headquartered in San Jose, California and gives online and mobile banking/payment safety to monetary institutions. More than 100 million endpoint users from a lot more than 1,020 organizations rely on nProtects on the web security solutions to secure their personal computer and mobile devices against malware, phishing, and number of other security threats even though meeting regulatory compliance specifications such as FFIEC Guidance. Global economic institutions such as Bank of America, Deutsche Bank, ING, and HSBC trust and use nProtect safety answer.

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nProtect was awarded a single of the Fastest Increasing Firms by Deloitte.

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For more info, contact nProtect Inc.&#13

Tel: 408-477-1742&#13

E-mail: sales(at)nProtect(dot)com&#13

http://www.nProtect.com

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