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Foreclosure Defense and Loan Modification Blog

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

Successful Loan Modification Roundup Week of 8/26

Posted by Maxwell Swinney

Friday, August 26, 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.

Keep calm and loan mod on. Every week we obtain loan modifications with a variety of loan servicers to allow our clients to avoid foreclosure. Here are some of the results.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 Greentree, Seterus, Ocwen, and others: 

Seterus

Our client was in foreclosure and $45k past due on payments to Seterus, but we helped them get a trial loan modification with a lower interest rate!

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Topics: loan modification, successful loan modifications, ocwen loan modification, caliber loan modification, asc loan modification, citi loan modification, seterus loan modification, Greentree loan modification

Foreclosures Down, Home Values Up, Loan Modifications Still An Option

Posted by Maxwell Swinney

Thursday, August 25, 2016

The recent financial crisis, housing crisis, and recession really did a number on homeowners. You didn't have to be an economist or real estate expert to know that there was a sharp increase in the number of foreclosures. All you had to do was turn on the news and you'd hear about it, or drive through any residential neighborhood and see the signs in front yards.

About seven million homeowners have experienced foreclosure since the start of the crisis. The wealth homeowners held in their homes evaporated as jobs were lost. That left many homeowners in the terrible position of being unable to afford their mortgage payment or sell their home because they owed more on it than it was worth

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Topics: loan modification, foreclosure defense, housing market, foreclosure crisis

5 Years Behind with Wells Fargo, This NY Client Avoided Foreclosure

Posted by Maxwell Swinney

Monday, August 22, 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 February of 2015, we were hired by homeowners in Brooklyn, New York who wanted to avoid losing their home to foreclosure. To protect their privacy, we'll call them the Voshenkos.

The Voshenkos were in very serious trouble when they came to us. They were in foreclosure because they hadn't made a mortgage payment to Wells Fargo in more than five years. But they wanted to find a solution to keep their home, so we started working on their case.

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Topics: wells fargo loan modification, loan modification, new york foreclosure attorney, settlement conference

Successful Loan Modification Roundup Week of 8/19

Posted by Maxwell Swinney

Friday, August 19, 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 Bank of America, Seterus, Ocwen, and others: 

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Topics: wells fargo loan modification, bank of america loan modification, loan modification, successful loan modifications, ocwen loan modification, asc loan modification, PNC loan modification success, citi loan modification, seterus loan modification, roundpoint loan modification, sls loan modification

650,000 Borrowers to Receive (More) Money from Independent Foreclosure Review

Posted by Maxwell Swinney

Wednesday, August 17, 2016

If you were eligible to receive money under the Independent Foreclosure Review Payment Agreement but didn't cash your check, it's too late. All the money that went unclaimed is now being redistributed to those who did cash their checks.

The Federal Reserve Board has announced that money leftover from the $3.9 billion Independent Foreclosure Review Agreement will be paid to the nearly 650,000 borrowers who already got their money. The borrowers who didn't cash their checks before the deadline are out of luck.

The Fed has given borrowers every chance to claim the money they were entitled to under the Independent Foreclosure Review Payment Agreement. Those who had not cashed their checks were given until December 31, 2015 to ask for a replacement check, and had to cash those checks by March 31, 2016.

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Topics: foreclosure

Approval to Participate Required for FHA Short Sales

Posted by Maxwell Swinney

Monday, August 15, 2016

If you want to get out of your Federal Housing Administration (FHA) insured home loan through a short sale you should be aware of the differences between an FHA short sale and a regular short sale.

The Federal Housing Administration (FHA) is a government agency that insures loans. It is part of the Department of Housing and Urban Development (HUD). Their goals are to “improve housing standards and conditions, provide an adequate home financing system through insurance of mortgage loans, and stabilize the mortgage market.”

As a government agency, the FHA is subject to regulations that other mortgages (or investors) aren't.

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Topics: short sale, fha

Successful Loan Modification Roundup Week of 8/12

Posted by Maxwell Swinney

Friday, August 12, 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 eight (8) of the results from this week, which include results from Caliber, SPS, Ocwen, and others: 

Ocwen

Trial loan modification achieved for our client's non owner occupied property with Ocwen. Investment properties are often more difficult to modify.

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Topics: loan modification attorney, loan modification, successful loan modifications, ocwen loan modification, loan modification success, caliber loan modification

CFPB On Loan Modifications, Loss Mitigation In Post-HAMP USA

Posted by Maxwell Swinney

Wednesday, August 10, 2016

The Home Affordable Modification Program (HAMP) is ending December 31, 2016.

It, along with the Home Affordable Refinance Program (HARP) and other programs, began in 2009 as part of the federal government's Making Home Affordable program (MHA), which was designed to help struggling homeowners avoid foreclosure after the housing and economic crisis that began in 2007.

HAMP is the principal component of MHA, and it sets guidelines and gives incentives to mortgage loan servicers to modify mortgages rather than foreclose. Sometimes known as 'the Obama Plan,' it's been a popular option for troubled homeowners.

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Topics: loan modification, HAMP, hamp loan modification, CFPB

6 Common Misconceptions About Mortgage Loan Modifications

Posted by Maxwell Swinney

Monday, August 8, 2016

As a result of the ongoing housing crisis, mortgage loan modifications have become popular with distressed homeowners who need to reinstate their loan and get a more affordable payment. But not everyone who could benefit from modifying their mortgage understands what's actually involved and how to go about getting one. And some assume or have been told incorrect information.

What is a Loan Modification

A mortgage loan modification is a permanent change to one or more of the terms of your existing loan, such as the interest rate, term length, and principal balance. The purpose is to lower the monthly payment to an affordable portion of your income and allow you to avoid foreclosure. It is different from a refinance, which replaces your old loan with a completely new one.

Loan modifications are the only hope many people have for avoiding foreclosure and staying in their home. However, there are some common misconceptions, such as:

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Topics: loan modification, hamp loan modification, loan modification help, foreclosure

Successful Loan Modification Roundup Week of 8/5

Posted by Maxwell Swinney

Friday, August 5, 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 the results from this week, which includes results from Caliber, SPS, and others: 

Caliber

Dios mio! Our client was 10 months and $21K past due with Caliber, but we got him a loan modification with a gargantuan monthly savings of $859!

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Topics: loan modification attorney, loan modification, successful loan modifications, loan modification success, caliber loan modification

4 Ways To Deal With The Emotions Around Foreclosure

Posted by Maxwell Swinney

Wednesday, August 3, 2016

Money is a very personal issue. So much so that it's often considered in bad taste to talk about it in polite society. Especially when you're talking about problems with money. And foreclosure is the mother lode of money problems since most people's largest asset is their home.

But unfortunate events beyond the control of any homeowner have caused millions of people to have to reckon with foreclosure. The credit crisis, recession, and housing crisis have caused foreclosures on a scale that the country hasn't seen since the Great Depression.

If you're in danger of losing your home to foreclosure, you're likely experiencing some seriously negative emotions. Fear, uncertainty, shame, guilt, and anger are common. These emotions are completely understandable and just as useless. You have to get a handle on them to keep from going crazy and find the best resolution.

Here are some ways to do that:

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Topics: loan modification help, foreclosure, foreclosure grief

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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