Download or read book How to Get Out of Foreclosure with a Loan Modification written by HowExpert and published by HowExpert. This book was released on 2016-09-21 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: If You Want To Learn How to Get Out of Foreclosure with a Loan Modification, Then Get This Potentially Life Saving Book! A home loan remodification is a method you may qualify for that allows you to get current again. If you are behind several payments, you may be in fear of foreclosure. Perhaps that process has already been started and you are afraid you will lose your home. A loan remodification can allow you to re-age your loan and get a payment you can afford with your current financial circumstances. Instead of trying to come up with a lump sum of money to save your home, you only have to focus on being able to meet that monthly mortgage payment. The process to qualify for a home loan remodification takes time and you have to follow the steps or you can be denied for failure to comply. Once your application is in motion, the foreclosure process will be put on hold. This gives you and the mortgage company time to go through all of the paperwork and see what can be done. Most lenders want to extend a remodification loan to you rather than foreclosure on the property. With that in mind, it is to your advantage to see if you qualify. About the Expert I didn’t know about loan remodification until my home was already in foreclosure. I was trying to explore my options and came across the details. I was frustrated that my mortgage company hadn’t taken the time to share that with me as a possibility. They had no trouble calling me at least twice per week to ask for the full amount I was due. They refused to take payments and didn’t seem to care about the reason why I was getting behind. Armed with information, I called them and asked for a loan remodification application. I am glad I did as it got me back on track with my home loan. I am hopeful this process can do the same for you. If you are facing foreclosure, you definitely want to look into home loan remodification as an opportunity. HowExpert publishes quick 'how to' guides on all topics from A to Z by everyday experts.

Download or read book How to Get Out of Foreclosure with a Loan Modification written by Sherri Adame and published by Createspace Independent Publishing Platform. This book was released on 2016-09-27 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: If You Want To Learn How to Get Out of Foreclosure with a Loan Modification, Then Get This Potentially Life Saving Book! A home loan remodification is a method you may qualify for that allows you to get current again. If you are behind several payments, you may be in fear of foreclosure. Perhaps that process has already been started and you are afraid you will lose your home. A loan remodification can allow you to re-age your loan and get a payment you can afford with your current financial circumstances. Instead of trying to come up with a lump sum of money to save your home, you only have to focus on being able to meet that monthly mortgage payment. The process to qualify for a home loan remodification takes time and you have to follow the steps or you can be denied for failure to comply. Once your application is in motion, the foreclosure process will be put on hold. This gives you and the mortgage company time to go through all of the paperwork and see what can be done. Most lenders want to extend a remodification loan to you rather than foreclosure on the property. With that in mind, it is to your advantage to see if you qualify. About the Expert I didn't know about loan remodification until my home was already in foreclosure. I was trying to explore my options and came across the details. I was frustrated that my mortgage company hadn't taken the time to share that with me as a possibility. They had no trouble calling me at least twice per week to ask for the full amount I was due. They refused to take payments and didn't seem to care about the reason why I was getting behind. Armed with information, I called them and asked for a loan remodification application. I am glad I did as it got me back on track with my home loan. I am hopeful this process can do the same for you. If you are facing foreclosure, you definitely want to look into home loan remodification as an opportunity. HowExpert publishes quick 'how to' guides on all topics from A to Z.

Download or read book Stop Foreclosure written by Robert Rodgers, PhD and published by Zero Point Healers. This book was released on 2014-02-14 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a foreclosure mediator for the state of Washington Robert Rodgers, PhD mediates discussions between home owners and the managers from mortgage servicing company who have the authority to modify the terms of home mortgages. Needless to say, he has seen and heard a lot over the past several years and has a profound sense of how the process works in practice. Robert knows first hand what you can realistically expect from your mortgage servicer. The way most people think the process works is a far cry from how it really works in practice. If you act on his suggestions, your frustration level will be reduced significantly and chances of getting a favorable decision increased. The goal here is to stop foreclosure by getting a modification to your home loan that reduces your monthly payment. Knowing exactly how the process works and understanding the factors that play a role in the final decision to modify a home mortgage places you in an very advantageous position. Why? It puts you in the driver’s seat. Here are the questions that he addresses in Stop Foreclosure: Should I Apply for a Modification Before I am No Longer Able to Make My Mortgage Payment? What Do I Need to Show to Get a Modification to My Loan? What are the Two Most Important Considerations for Whether I Will Succeed in Getting My Mortgage Modified to a Lower Payment? I am Currently Unemployed and Have No Prospects of a Job. What are My Chances of Getting My Home Loan Modified? What Hit on My Credit Rating Will I Take For Not Making My Mortgage Payments? What Documentation Will I Be Required to Produce? How Much Income Must I Show to Qualify for a Modification? Can I Protect my Savings, IRAS and Health Savings Accounts? What are My Chances for Getting My Mortgage Loan Modified If I Currently Have No Income as I Just Lost My Job, but am Certain I Will Land Gainful Employment Soon? 30 I Just Landed A Good Job. Why was My Application for a Modification to My Mortgage Denied? What Mortgage Payment Can I Quality For? What are Guidelines for Reporting Expenses? What are the Most Common Reasons for Requesting a Modification? Who Are the Players When It Comes to Getting My Mortgage Modified? How Can I Determine Who Services My Home Mortgage and Who Owns My Mortgage Note? My Mortgage Servicer Tells Me that the Owner of My Note is Different from What I see on my Original Mortgage Note. Can This Be True? Can I Determine who Owns My Mortgage Note By Searching Deeds of Trust Filed with My County Courthouse? What is MERS? I Do Not Suspect that My Mortgage Servicing Company Has the Original Loan Documents. Why Can’t I just Demand that They Produce the Original Documents? When They Can’t Produce the Original Documents (as I Suspect) Doesn’t My Loan Also Vanish and I Get My Home for Free? Should I Hire Someone Else to Handle My Application for a Mortgage Loan Application? How Can I Avoid Being Scammed? Why Did We Get a Foreclosure Notice when Our Mortgage Servicer was Still Evaluating Our Application for a Modification? Why Do I have So Much Difficulty Dealing with My Mortgage Servicer? What Happens When I Contact My Mortgage Servicer About Applying for a Home Mortgage Modification? What Can I Expect when Calling My Mortgage Servicer? Why Can’t I Email the Documents to My Mortgage Servicer? It Would Be So Much Easier. What Can I Do to Hurry Up the Review Process and Get a Decision More Quickly as We have been Hassling with Our Mortgage Servicer Now for Over a Year? How Exactly Can My Mortgage Be Modified to Reduce My Monthly Payments? Am I Eligible to Apply for a Federal Making Home Affordable Modification? Will I Qualify for a Modification to My Home Loan that is Underwritten by the Federal HAMP Program? Is Equity Advantageous or Disadvantageous When It Comes to Getting My Home Loan Modified? What is the Principal Behind a Net Present Value Analysis? How Do I Determine the Current Market Value of My Home? How Do I Dispute a Market Analysis of My Home that Has Disqualified Me from Getting a Modification? What are Important Considerations when Doing My Own Net Present Value Analysis? What is a Discount Rate? How Can I Calculate the Net Present Value (NPV) How Can I Find Out My Credit Score for Free? After Entering All My Information into a Net Present Value Analysis - I Failed. What Can I Do Now? Will it Really Help Me Obtain a Modification to My Home Mortgage If Go to All the Trouble of Doing My Own Net Present Value Analysis? I Know Precisely the Mortgage Payment I Can Handle for the Next Several Years. Once I Dig Myself Out of the Mess I am In Right Now, I will be Able to Pay the Original Amount. Should I Ask My Mortgage Servicer to Consider a Two Year (or Short Term) Modification? I Know Now I Will Only Need to Pay the Reduced Amount for a Couple of Years. How Will I Hear About the Outcome of My Application? Will My Mortgage Servicer Give me a Reason for a Denial? How Can I Dispute Penalties or Late Fees Charged by My Mortgage Servicer? My Mortgage Servicer Says that Extending the Term of My Loan from 30 to 40 Years is Not an Option. Are They Bluffing? What Are My Options If My Income Does Not Justify a Modified Loan? I am Currently Unemployed. Is There any Hope for Me? What Programs Exist for People Who Want to Remain in Their Homes? How Do I Find Out If Freddie Mac Owns My Loan? I was offered a Temporary Modification but was only One (1) Day Late Making the Second Payment. We were Serviced a Foreclosure Notice Today. Can the Bank Foreclosure Now When They have Already Agreed to a Modification? The Bank Has Offered a Modification but the Rate is Still Too Much for My Pocketbook. They Say that They Cannot Offer me a HAMP (the federal program which would make the payment more affordable) because I Have Been Delinquent in Making Payments for More than One Year. Should I just Give Up Now? What is a Three Month Temporary Loan Modification? I Asked for a Permanent Modification to my Mortgage Loan. Is the Deal Done When I Get a Written Offer of a Modification? I was told by a Clerk about the Terms of a Temporary Modification but Cannot Tell if this is a Genuine Offer. The Offer Seemed Very Unprofessional to Me. What Can I Realistically Expect If a Modification is Offered? How Much Lower Can I Expect My Payment to Be? Aren’t the Mortgage Companies the Bad Guys Here? What if I also have a Second Mortgage or Line of Credit on the Property? How Do I Find a Housing Counselor? Are the Laws Governing Modifications to Mortgages Really That Complicated? My Mortgage Servicing Company Refuses to Offer a Modification to My Loan that I am Fully Qualified to Receive (by My Own Calculation) Under the Net Present Value Test. What Can I Do? Explain the foreclosure Process What is the difference between Judicial Versus Non-Judicial Foreclosures What are Other Options I Can Consider to Avoid Foreclosure?

Download or read book 42 Rules for Saving Your House from Foreclosure written by David Coleman and published by Happy About. This book was released on 2014-05-14 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coleman and his lawyer and co-author chronicle the process to save his home from foreclosure. They capture critical lessons and include strategies that are not well known outside the banking industry.

Download or read book Loan Modification For Dummies written by Ralph R. Roberts and published by John Wiley & Sons. This book was released on 2009-08-31 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The crucial information you need to secure a reliable loan modification and save your home Behind on your mortgage payments? Worried about losing your home? Don't panic. Loan Modification For Dummies gives you the reliable, authoritative, easy-to-understand guidance you need to apply for and secure a loan modification that lowers your monthly house payment and keeps you in your home. This practical, plain-English guide leads you step by step through the loan modification process, from contacting your lender to applying for a loan modification, evaluating the lender's initial offer, and negotiating a modification that lowers your monthly payment while helping you catch up on any past-due amounts. You'll learn how to communicate with your bank or loan servicer, recognize and avoid loan-modification scams, and find a knowledgeable loan modification specialist, if you choose not to do it yourself. Advice on determining whether you're likely to qualify for your lender's loan modification program Guidance on preparing and submitting a loan modification application that improves your chances of success Helps you figure out a monthly payment you really can afford Tips on modifying your loan even when you owe more than your home's current market value Negotiation advice for securing the best possible terms and lowest monthly payment Resources for contacting your lender, obtaining free or affordable third-party assistance, and getting government agencies on your side Read Loan Modification For Dummies and start saving your home today.

Download or read book How to Avoid Foreclosure written by and published by . This book was released on 2020 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Reducing Foreclosures written by Christopher Foote and published by DIANE Publishing. This book was released on 2009 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Takes a skeptical look at a leading argument about what is causing the foreclosure crisis and what should be done to stop it. The authors focus on two key decisions: the borrower's choice to default on a mortgage and the lender's subsequent choice whether to renegotiate or modify the loan. Unaffordable loans, defined as those with high mortgage payments relative to income at origination, are unlikely to be the main reason that borrowers decide to default. The efficiency of foreclosure for investors is a more plausible explanation for the low number of modifications to date. Policies designed to reduce foreclosures should focus on ameliorating the effects of job loss rather than modifying loans to make them more affordable on a long-term basis. Illustrations.

Download or read book Home Foreclosures written by United States. Congress. House. Committee on the Judiciary. Subcommittee on Commercial and Administrative Law and published by . This book was released on 2010 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Legislative Solutions for Preventing Loan Modification and Foreclosure Rescue Fraud written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 2009 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Life After Foreclosure written by Dean Wegner and published by Scottsdale Book Publishing. This book was released on 2010-11-30 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: Going through a housing crisis affects you emotionally and challenges you legally. It's a breach of contract that you had no intention of committing and until now you had no resource to guide you through this trying time in your life. "Life After Foreclosure" covers everything you need to know about strategic default, short sale, foreclosure, and loan modification. You will learn exactly what options you have and how each of them plays out. From identifying when it is time to give up on loan modification to rebuilding your credit and personal finances after Foreclosure. This book is designed to help anyone about to face a housing crisis or who has just gone through one. The life changing event of foreclosure holds a power that, when utilized correctly, will lead to greater financial security, better decision making, and a more empowered life. A must-read for anyone who thought it would never happen to them, this book shows how you are not alone and that you can thrive again! Author Dean Wegner is a leading expert in housing with more than 16 years of industry experience, and has developed the reputation of someone who knows the answers to tough questions. Dean is a member of more than 25 real estate organizations, and is a Certified Consumer Credit Counselor. He has spoken to more than 3000 people facing foreclosure and addressed the media on this topic more than 500 times, including cover stories in USA Today and CNBC.

Download or read book Mortgage Modifications During the Foreclosure Crisis written by United States. Congress. Senate. Committee on the Judiciary and published by . This book was released on 2010 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Loan Modification Made Simple written by Thomas Powell and published by . This book was released on 2008-10 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Loan Modification Made Simple An Insider Guide to Understanding Modification and Preventing Foreclosure Section 1: The Basics * Premise of this Book/Introduction * Comparison of Modification vs. Refinance Section 2: Understanding the Concept of Loan Modification * What is a Loan Modification? * Characteristics of a Note that a Bank Can Modify * Why Would a Bank Modify a Loan? * Causes of the Modification Boom * Modifications are Negotiations: Use the Threat of Foreclosure * Foreclosure Timetable * The Banks Reaction during the Foreclosure Process Section 3: How to Modify My Loan * What are Loss Mitigation / Home Retention Departments? * The Proper Way to Deal with Your Loss Mitigation Department (extremely important!!) * Step by Step Procedure on to How to Successfully Negotiate Your Own Loan Modification * Hardship/Hardship Letter * What Banks are looking for to Grant a Loan Modification Section 4: Breaking Down Modification Companies * When a Homeowner should Contact a Modification Company * Difference between an Attorney Based Modification and a Non-Attorney Based Company * Difference between Attorney Based Modification Companies and Law Offices * Avoiding Scam Artists Section 5: California Governor Arnold Schwarzenegger's Answer to the California Housing Crisis * California's Loan Modification legislation Section 6: Finalizing and Submitting Your Modification Proposal * Putting the Loan Modification Proposal Together and Submitting * Developing a Loan Modification Proposal * Example Loan Modification Proposal * If a Principal Balance Reduction is Denied * Loan Modification Income and Expense Worksheet * Proper Loan Modification Cover Letter Section 7: Forms * Explanation of How to Properly Fill Out Forms * Loss Mitigation Fax Cover Sheet * Example Cover Letter * Loan Modification Proposal * Real Estate Cash Flow Worksheet * Dynamic Expense Worksheet * Dynamic Income Worksheet with Disposable Income Calculation * Example Hardship Letter * Example List of Hardships Section 8: Pertinent Modification Terms * Glossary

Download or read book How to Save Your Home and Credit Stay Payment Free and Get Cash Out Legally from Mortgage Foreclosure written by John Wen and published by . This book was released on 2009-01-28 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: how to save your home, stop foreclosure, loan modification, short sale, forbearance, bankruptcy, foreclosure laws, foreclosure process, foreclosure proceddings, foreclosure time line, reverse mortgage

Download or read book Foreclosure Prevention Loss Mitigation Specialist written by Kenney and published by Eiram Publishing. This book was released on 2011-03 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congratulations on your decision to enter the field of loss mitigation or expand your current industry skill set to encompass the details of loss mitigation, loan modification, or refinance options. Loss mitigation has long been an element within the banking industry. Present market conditions have caused this small segment of the industry to expand. This expansion presents you with an exceptional opportunity to enhance your career options. As a lender loss-mitigation expert, private loss-mitigation negotiator, or lender seeking career expansion through the processing of loss mitigation paper the newly expanded opportunity presented in loss mitigation specialization are unsurpassed in other, current career options. You will use your newly learned skills to Streamline the negotiation process between homeowners and lending institutions Maximize the negotiation position for the party for whom you work Facilitate fair and timely resolution to financial crises Ensure all parties achieve the loss mitigation results best suited to the situation Scrutinize the qualifications inherent to each homeowner and property to ensure that all loss mitigation resolutions achieve long term sustainability. Over the coming weeks, this coursework will provide you with the foundation of knowledge, tools, and skills that you need to bring each transaction to the most successful conclusion possible. The field of loss mitigation is an expanding arena that presents incredible opportunity for career expansion and growth. You will gain the ability to chart your own career path while ensuring that each day brings the satisfaction of knowing that your actions have increased the stability of the homeowner, the lender, and the national real estate market.

Download or read book The Foreclosure Survival Guide written by Amy Loftsgordon and published by Nolo. This book was released on 2023-08-01 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Facing foreclosure? Put together a plan. Take action. If your home is in foreclosure, you don’t have time to waste. You need to know your options and The Foreclosure Survival Guide can help. You’ll learn how to: • determine whether you should try to keep your house • find loss mitigation programs that could help you save your home • apply for mortgage relief from your lender • avoid foreclosure rescue scams • bring your loan current in Chapter 13 bankruptcy, and • if you can’t stay in your home, avoid unnecessary costs by filing for Chapter 7 bankruptcy. This edition’s powerful yet practical advice also explains your most important tool—the 120-day foreclosure waiting period before foreclosure starts. You’ll also find information on foreclosure procedures, potential tax consequences, and more. In addition, this updated edition includes a new chapter covering HOA liens, foreclosures, and what you can do if your HOA threatens you with foreclosure.

Download or read book How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances written by Robert Irwin and published by McGraw Hill Professional. This book was released on 2009-08-28 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Don’t lose your ho me to foreclosure! Do a short sale! Robert Irwin, one of America’s most trusted real estate experts, provides the tools you need to avoid foreclosure—and protect your credit, your wealth, and your peace of mind. How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances removes the complications and stress often associated with short selling a property. Using real-life success stories, Irwin explains how a short sale works and walks you through the process step by step. You’ll learn how to: Convince lenders to engage in a short sale Deal with a loss mitigation committee Get a loan modification Find an agent Manage issues with the IRS Beat the deadlines that can doom a short sale It contains all the paperwork you’ll need to execute a short sale, along with listings of helpful outside resources. How to Use a Short Sale to Stop Home Foreclosure and Protect Your Finances provides everything you need to get out from under—without spending a dime of your own money.

Download or read book The Complete Guide to Preventing Foreclosure on Your Home written by Martha Maeda and published by Atlantic Publishing Company. This book was released on 2010 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This guide provides you with strategies for getting legal advice, keeping current on your mortgage payments, negotiating temporary delays in payments, restructuring loans, refinancing, filing for bankruptcy, and creating and sticking to a budget. You will learn about debt counselling and income maintenance, tax abatement, and public assistance programs. This book also provides details on the March 2010 modifications to the Home Affordable Modification Program (HAMP) and to the Federal Housing Administration (FHA) programs offered by the federal government to assist homeowners who have been affected by the economic crisis through no fault of their own. In addition, this book will show you how to decide if your property is worth saving, how to figure out how much time you have to act, how to use the courts to stop foreclosure, how to decide whether bankruptcy is your best option, and how to use your military status to prevent foreclosure. You will also learn about foreclosure rescue scams, non-judicial foreclosure, judicial foreclosure, and notice of default. Also included is an explanation of the alternatives to foreclosure, such as special forbearance, mortgage modification, partial claim, pre-foreclosure, and deed-in-lieu of foreclosure. With foreclosures on the rise, it makes sense to know how to protect your home. The guide also provides you with tips, tricks, strategies, and secrets to prevent your home s foreclosure now before it is too late.