Foreclosure and Loan Modification Blog

Do I need a Forensic Loan Audit?

A few years ago a forensic loan audit was a common tool for "mortgage rescue" companies if you suspected your bank of unfair practices and wished to pursue a lawsuit against your lender. However forensic loan audits are unnecessary in relation to the numerous other ways a foreclosure attorney can fight for your home.

The FTC warns consumers against companies using Forensic Loan Audits to lure in clients as a mortgage loan audit is expensive and offers no significant benefit to the homeowner.

A good foreclosure lawyer will make sure all of your loan paperwork is compliant, if necessary, as a tactic in your foreclosure defense case.

Florida Foreclosure Bill Passes Senate Committee

A new foreclosure bill is being proposed by Florida legislature to speed up foreclosures in Florida. Although recently passed by a Senate committee, the bill still must pass three more committees in the Senate and one more in the House. The bill is designed to speed foreclosure cases through the court system by allowing semi-retired judges to take on foreclosure cases, as well as allowing a number of other provisions designed to help "streamline" the amount of foreclosure cases in the state of Florida. Florida already holds a quarter of the nation's foreclosure cases, and is working to expedite the judicial process of foreclosure.

What is a Conciliation Conference?

foreclosure conciliation conferenceThe idea of holding a conciliation conference for a loan modification or a foreclosure case is relatively new. Because of the large amount of foreclosures in Florida, a mediation is no longer required by law. A homeowner can request a mediation if they choose. However, this can get expensive because both their lawyer and the bank's lawyer will have to meet in person at the expense of the homeowner. In order to expedite the loan modification process, many lawyers are requesting conciliation conferences via phone instead.

How do I get a conciliation conference?

If you're a homeowner who has submitted a loan modification package to their bank and hasn't gotten a response, you may want to consider hiring a foreclosure defense attorney to help. A foreclosure attorney can not only present the loan modification package in a way that will encourage the bank to accept your offer, they can also request a conciliation conference with the decision maker at the bank. A homeowner alone will have almost no luck in trying to contact the bank and actually get in contact with someone who has the authority to make a decision on their loan modification.

Finding a Loan Modification Attorney

loan modification attorneyFinding an attorney that can help you with your loan modification is a great way to one-up the banks when trying to protect your home from foreclosure. However, you should not hire an attorney who simply does loan modifications. A licensed attorney must also provide foreclosure defense. The loan modification process alone does not protect you from foreclosure.

Anyone can submit a loan modification

You don't have to be a lawyer to submit a loan modification to the bank. However, banks can be very selective about which loan modifications they do and don't accept.

Foreclosure Defense: How to Prolong Foreclosure

prolong foreclosure processForeclosure defense can usually prolong foreclosure a long time. In many cases, people will stay in their homes at least a year before a sale date is even set on their home. This means that some homeowners may want to prolong the foreclosure process while they work out a solution to keep their home, or as a means to save money before they eventually move out of the house.

How long does foreclosure defense take?

Foreclosure Process in Florida

Defending your home against foreclosure in Florida can be complicated and scary. If you've been served foreclosure papers, chances are you're looking into foreclosure defense in Florida. Only a licensed foreclosure lawyer can help you stay in your home and discuss your foreclosure options. Keep a list of questions to ask your foreclosure defense lawyer.  In the meantime, we'll let you know what you can expect in the foreclosure process:

30 Days past due: If you haven't paid your mortgage in at least 30 days, your lender may report this to the credit bureau. Your credit report is now showing a mortgage deficiency and chances are you will be served foreclosure papers in the future if you are unable to get in touch with your bank.

Bank of America Foreclosure Settlement Isn't Enough

 Under constant sctrutiny lately, it's no secret that Bank of America took a unique approach to the foreclosure crisis. After acquiring Countrywide Financial in 2008, Bank of America took the easy way out by blaming the new guy. Instead of helping homeowners by lowering rates and extending loans like many mortgage companies have been forced to do over the past few years, Bank of America's foreclosure settlement is designed for Bank of America to take as few loses as possible. With many homeowners around the country finding themselves underwater on their homes, some mortgage lenders realized that loan modifications are cost effective and help people stay in their homes when faced with foreclosure.

Bank of America Only Protects Themselves

How to Write a Hardship Letter for your Mortgage Company

If you're faced with foreclosure, writing a hardship letter for your mortgage company will be required if you are seeking a loan modification. Remember that every bank is different and what one might consider a great hardship letter, another might throw aside and not consider. The best way to get a well written hardship letter that will grant you the loan modification you're looking for is to hire a licensed foreclosure defense attorney and determine exactly what you should and shouldn't put in your hardship letter.

Florida Foreclosure Bill to Streamline Foreclosure Process

What could be bad about streamlining the foreclosure process in Florida? Especially when we have so many homes in Florida currently in foreclosure. Well...a lot, actually. The fact that the foreclosure process can take so long has always been a benefit to the homeowners because it gives both the homeowner and their foreclosure defense attorney time to prepare legal documents and paint an accurate picture of the person's financial situation.

The ability of a foreclosure defense attorney to prolong the foreclosure process has always benefited the homeowner by providing ample time to present a loan modification plan to the lender in hopes that the foreclosure process could be stopped and the homeowner could keep their home.

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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