Loan Modification expert and CEO of LoanMod.com, Moose Scheib discusses the current foreclosure crisis and the role loan modifications have in stabilizing the housing market on The Neil Cavuto Show on January 7, 2009.
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Short Sale Experts Negotiate Your Real Estate Bailout - Mortgage Foreclosure Assistance Plan - Free Prevention Alternative to Foreclosure Fraud and Scams. http://Short-SaleHotline.com will Help you Survive the Mortgage Meltdown Crisis. Avoid Foreclosure and Bankruptcy. Get your Bailout with our Real Estate Short Sale, Mortgage Foreclosure Loss Mitigation Prevention Process.
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Nova Dean Pack is an attorney licensed with the California State Bar since 1974. The Law offices of Nova dean Pack have taken a stand of advocacy for homeowners who have been affected by the current financial crisis.
Homeowners who are experiencing hardships due to a loss of job or cut in income or who’s mortgage(s) has recently adjusted may qualify for one of the various programs available to homeowners.
Hope For Home Owners (H4H)
On October 1, 2008 the U.S. Department of Housing and Urban Development (HUD) instituted the Hope for Homeowners Program. This program was designed to help those homeowners who have or are experiencing any of the following situations:
Their mortgage exceeds the value of their home.
They are on an adjustable rate mortgage.
They have a high fixed interest rate.
They are behind, or in foreclosure.
May have income/job issues.
The program effectively reduces the current mortgage (including second mortgages, late payments, attorney fees, and etc) to 90% of the homes CURRENT market value based on a FHA approved appraisal. This can save tens of thousands in mortgage balance, and hundreds to thousands in mortgage payments.
Credit score does not matter, and even homes in the foreclosure process qualify. These are the lowest 30 year FIXED rate mortgages with NO prepayment penalties and these new loans are also FHA insured. If you cannot afford your current loan, do not own a second home, and your mortgage was originated before 2008; you can qualify for help with this new program.
Loan Litigation
The Law office of Nova Dean Pack provides forensic audits to examine and find any possible defects or irregularities in the truth-in-lending and HUD-1 documents you received at the close of escrow when you originally received your mortgage loan. We audit the Annual Percentage Rate (APR) and the closing costs for regulatory compliance. If the truth-in-lending statement doesnt match the HUD-1 closing-cost sheet you received at closing, or if the APR is not accurately stated, you might have a cause of action against your lender that holds a mortgage on your property. This procedure may yield results that may be used to pursue litigation or may be leveraged when negotiating with the lender to grant a beneficial loan modification.
Forbearance
The Law office of Nova Dean Pack can often negotiate a forbearance agreement with your lender. Most mortgage lenders will initially try to entice borrowers with a forbearance agreement. This type of arrangement calls for the borrower to catch up the back payments, fees, and interest over a very short period of time (usually three to twelve months). The result is a much higher monthly mortgage payment and often a large lump sum up front to initiate a forbearance agreement. If the homeowner client cannot make the current mortgage payments, how will the homeowner client make even a larger monthly payment? Thus, this usually is not the best option.
Loan Modification
The Law office of Nova Dean Pack believes the best solution is a loan modification if the client desires to keep possession of his or her home. In situations where the mortgage lender has been convince by our law firm that a repayment plan or forbearance is the appropriate course of action, a loan modification is often considered and successfully negotiated with your lender. A loan modification involves changing one or more of the terms of a mortgage in order to help you bring a defaulted loan current and prevent foreclosure. This option generally is considered for homeowners whose financial problems are expected to be more long term. Often, your payments will be lowered through a new lower interest rate, which will bring down your payments. We will inform you of the negotiations being done, but you, as the client, will have the final decision to accept or reject the loan modification terms agreed by your lender.
9229 Utica Ave. Suite 100 Rancho Cucamonga,
California 91730
California State Bar License #62338
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http://crazyfishfarmer.com/blog/?cat=266
presidents obama stimulus package home foreclosure help still waiting Susan Boyle
http://www.crazyfishfarmer.com
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http://www.detroitstopforeclosue.org Detroit and Flint Michigan on seeing record number of home foreclosures. You can stop foreclosure and keep your home fast. loan modifications too.
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http://www.miamiattorneygroup.com/ or call
(888) 445-2851.
Are you in foreclosure or facing a possible foreclosure proceeding against your home? If so, are you looking for ways to stop foreclosure? If this is you, then you may want to keep reading this article.
We fight foreclosure cases. As attorneys concentrating on this area, we know how to defend foreclosure. Some delay and stop foreclosure, and we will help you to win and free the property of the mortgage by using foreclosure defenses, The Saenz Law Firm defends Florida homeowners rights to stay in their houses when facing foreclosure by banks and mortgage companies. We serve clients throughout the state.
We defend home foreclosures with the aim of winning and keeping you in your home.
Slow Down The Foreclosure Process - Use Time Wisely To Remedy Your Housing Problems
Be smart about your situation if you are able to slow your mortgage company and the foreclosure process down. Try to work something out with your financial situation like find another job, or try to sell your home on a short sale, or find a relative to help you out. You may be able to work some other payment arrangement with your mortgage company like a mortgage loan modification. The key here is to use the delay in the foreclosure proceedings to take some positive action on your part.
While it is true that your lender may be slowed down if they cannot find your note, it may not be a permanent solution for you in preventing foreclosure. You must keep in the back of your mind that they may find your mortgage note in the future. You can bet on a your mortgage company to move forward with legal foreclosure action against your home once they find the note if you haven’t worked something out with them in the meantime. Have a contingency plan or remedy in place.
One word of caution here - do not be nasty with your mortgage company - remember no matter what if they find the note and you have been nasty they probably won’t show much mercy in working out a solution with you.
To make sure that you are covered by this course of action to stop or slow down the foreclosure process you should seek out the help of a real estate attorney as soon as possible. Do not put this off if you plan to use this strategy. Another resource to checkout is the website called: Consumer Warning Network.
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This Article is designed to be of general interest and should not be considered accounting, legal, or tax advice. The specific information discussed may not apply to you. Before acting on any matter contained herein, you should consult with your personal attorney, tax adviser, or accountant.
http://www.miamiattorneygroup.com/ or call
(888) 445-2851.
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Loan Modification Attorneys Negotiate Home Mortgage Bailout - Foreclosure Assistance Plan - Real Estate Foreclosure Prevention Alternative To Fraud and Scams. http://ModificationHotline.com Will Help You Survive The Mortgage Meltdown Crisis by Modifying Your Home Loan. Avoid Foreclosure and Bankruptcy. Get Your Bailout Today.
At http://ModificationHotline.com You Can Claim Your FREE Copy of My Latest Report:
“THE FORECLOSURE SHARKS: A Look At The Rampant Theft Of Americans’ Homes Through Foreclosure ‘Rescue’ Scams”, and While There Also Sign Up For a FREE Consultation With Our Approved Foreclosure Prevention Specialists.
Go To http://ModificationHotline.com and Complete Our Easy Form - It Takes 2 Minutes and Can Help You Save Your Home.
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