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Foreclosure Defense and Loan Modification Blog

Why Do Mortgage Investors Deny Loan Modifications?

Posted by Maxwell Swinney

Monday, September 26, 2016

Your mortgage is more complex than it appears. While you typically only deal with your servicer, which takes your payments, credits your account, and forecloses if you default, there's another party involved in your mortgage loan.

This other party, although usually invisible to you, has the biggest stake in your mortgage. I'm talking about the investor. They're the “end user” of your mortgage. They own it and earn a profit from the interest you pay them.

Many homeowners only learn about the existence of an investor in their mortgage when they experience a hardship, can't pay their mortgage, and their servicer tells them that their investor won't allow them to get a loan modification.

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Topics: loan modification, hamp loan modification, mortgage investor

Successful Loan Modification Roundup Week Of 9/23

Posted by Maxwell Swinney

Friday, September 23, 2016

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners. Here are a few of their stories.

Every week we obtain loan modifications for our clients with a variety of loan servicers. You can see these results as they are announced on Twitter (#loanmodwow) or Facebook. Here are some of our results from this week, which include results from Ditech, Ocwen, and Bayview: 

Ditech

Our Ditech client was in foreclosure after falling three years and $47k behind on his mortgage, but now he has a loan modification with a $591 lower monthly mortgage payment!

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Topics: loan modification, successful loan modifications, ocwen loan modification, ditech loan modification success, bayview loan modification

What Does a Foreclosure Defense Attorney Actually Do for You?

Posted by Maxwell Swinney

Monday, September 19, 2016

If you're considering hiring an attorney to help you avoid foreclosure and/or get a loan modification, you may be wondering what specifically an attorney will do to help you keep your home. You know your mortgage issues are too important to try to handle alone, but how exactly does an attorney help?

Do they just show up in court and say something in Latin “Your honor, the corpus juris, et cetera, entitle my client to keep their house. Also, carpe diem, and liberum domum (free house), please.”

Of course not. So what does an attorney actually do when you hire them to defend you from foreclosure and assist you in getting a loan modification?

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Topics: new jersey foreclosure attorney, florida foreclosure defense, pennsylvania foreclosure defense, illinois foreclosure lawyer, loan modification lawyer, loan modification, foreclosure defense, new york foreclosure attorney, foreclosure defense attorney

Successful Loan Modification Roundup Week of 9/16

Posted by Maxwell Swinney

Friday, September 16, 2016

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners, here are a few of their stories.

Every week we obtain loan modifications for our clients with a variety of loan servicers. You can see these results as they are announced on Twitter (#loanmodwow) or Facebook. Here are some of our results from this week, which include results from  Cenlar, Chase, Seterus and others:

Wells Fargo 

Hooray! Trial loan modification approved for our client who was more than a year behind on mortgage payments to Wells Fargo.

Nationstar

Success! Our Nationstar client was approved for a 3 month streamline trial modification plan with $104 monthly savings on mortgage payment and a lower interest rate.

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Topics: wells fargo loan modification, successful loan modifications, sps loan modification, ditech loan modification success

Superstorm Sandy, Foreclosure, and Loan Modification Success

Posted by Maxwell Swinney

Wednesday, September 14, 2016

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners, here is one of their stories.

In May of 2014 a homeowner in Sullivan County, New York, that I'll call Mr. Goulet to protect his privacy, retained our firm to help him avoid foreclosure. He hadn't been served with a foreclosure lawsuit when he retained us, but knew it was coming, and wisely sought help from experienced professionals.

Mr. Goulet is a successful business owner. Things had been going well for him until Superstorm Sandy tore through the region in late 2012 and damaged his home. (Sandy caused about $75 billion in damage, which is second only to Hurricane Katrina.)

He moved out of his home, over the state line into New Jersey, while the damage caused by Sandy was being repaired.

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Topics: loan modification, successful loan modifications, foreclosure defense, Superstorm Sandy, PNC loan modification success

There's Never Been a Better Time to Get a Loan Modification

Posted by Maxwell Swinney

Monday, September 12, 2016

If you're having trouble with your mortgage, you've probably heard about loan modifications. Modifying a mortgage loan involves making a permanent change to one or more of its terms. The interest rate can be lowered, the term can be extended, and principal and fees can be reduced.

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Topics: loan modification, foreclosure defense, HAMP

Successful Loan Modification Roundup Week of 9/9

Posted by Maxwell Swinney

Friday, September 9, 2016

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners, here are a few of their stories.

Every week we obtain loan modifications for our clients with a variety of loan servicers. Here are some of our results from this week, including one from Bayview.Every week we obtain loan modifications for our clients with a variety of loan servicers. You can see these results as they are announced on Twitter (#loanmodwow) or Facebook. Here are some of our results from this week, which include results from  Bayview, US Bank, Seterus, and SunTrust: 

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Topics: successful loan modifications, seterus loan modification, bayview loan modification, suntrust loan modification

3 Common Wells Fargo Loan Modification Problems

Posted by Maxwell Swinney

Tuesday, September 6, 2016

If you're having problems with your mortgage, it's a good idea to communicate with your bank to see if you can work with them for some sort of agreement to stay out of foreclosure.

Your bank can choose to give you an unemployment forbearance that temporarily suspends your mortgage payments because of a job loss, for example. Or, if you're already behind on your mortgage payments due to a hardship, you may be able to get a loan modification that reinstates your mortgage with a more affordable payment.

Loan modifications are the only option many homeowners have to keep their home. The terms of the loan, such as the length of the loan, the interest rate, and the principal balance can be changed.

Loan modifications are a life saver for those who get them. Unfortunately, many Wells Fargo borrowers end up disappointed when they don't get the results they're looking for after trying to deal with the bank on their own. And Wells Fargo has a reputation as one of the most difficult banks to work with for a loan modification.

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Topics: loan modification lawyer, wells fargo loan modification, loan modification denied, loan modification

Successful Loan Modification Roundup Week of 9/2

Posted by Maxwell Swinney

Friday, September 2, 2016

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners, here are a few of their stories.

Every week we obtain loan modifications for our clients with a variety of loan servicers. You can see these results as they are announced on Twitter (#loanmodwow) or Facebook. Here are some of our results from this week, which include results from Nationstar, SPS, Wells Fargo, and others: 

Nationstar

  • 8 years behind on mortgage payments to Nationstar, our client was approved for a loan modification with lower payment and interest rate, $88k principal forgiven, and $265k deferred!

  • This in-house loan modification got our Nationstar client a fresh start with a cheaper payment and 2% lower interest rate!
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Topics: wells fargo loan modification, successful loan modifications, ocwen loan modification, loan modification success, sps loan modification, caliber loan modification, citi loan modification

FHA Updating Loss Mitigation Options to Make Keeping Home Easier

Posted by Maxwell Swinney

Tuesday, August 30, 2016

If your mortgage is insured by the Federal Housing Administration (FHA) and you're struggling to keep your home, there's some good news that the FHA recently announced.

The FHA, which is part of the Department of Housing and Urban Development (HUD), announced “new procedures to strengthen the process mortgage servicers use to help struggling families avoid foreclosure and remain in their homes.”

FHA is accomplishing this by “streamlining its loss mitigation protocols that servicers must use when evaluating and deploying 'home retention options,' foreclosure alternatives that allow delinquent borrowers to retain their home.”

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Topics: loan modification, HAMP, hamp loan modification, fha

About this Blog

Amerihope Alliance Legal Services is a leading loan modification and foreclosure defense law firm with attorneys licensed in 5 states. We have helped over 7,000 homeowners fight back and keep their homes.

Click to Read Our Super Loan Mod Success Stories

Our goal is to provide valuable information to help homeowners who are trying to obtain a loan modification or to stop foreclosure. You may schedule a free consultation at any time.

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