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Foreclosure Defense and Loan Modification Blog

Does Your Bank Have the Standing to Foreclose on Your Home?

Posted by Maxwell Swinney

Tuesday, November 29, 2016

In judicial foreclosure states (such as Illinois, Florida, Pennsylvania, New York, and New Jersey), your lender is required to go through the courts to foreclose on your property. They become the plaintiff and you become the defendant in a foreclosure lawsuit.

The plaintiff must prove to the court that they are the party in interest that's legally entitled to foreclose on your home. That, in legal terminology, is called standing.

Standing is very important, and the plaintiff must have it at the time they file a foreclosure action against you. If they don't, your attorney may file a motion to dismiss the action because of it.

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Topics: foreclosure defense, florida foreclosure laws, foreclosure fraud

Successful Loan Modification Roundup Week of 11/25

Posted by Maxwell Swinney

Friday, November 25, 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 with SLS, PNC Bank, Caliber, BSI, and Nationstar:

SLS

Yes! Our SLS client was in active foreclosure with a sale date set after falling $234,020 past due on their mortgage. Now they have a trial HAMP II trial modification plan with $719 savings a month!

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Topics: loan modification, loan modification success, sls loan modification

Ocwen Loan Modification Success for Our New Jersey Client

Posted by Maxwell Swinney

Wednesday, November 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 is one of their stories.

In 2014 we were retained by a homeowner in New Jersey who hadn't paid her mortgage to Ocwen since 2009, and had been in foreclosure since 2010. I'll call her Diana to protect her privacy.

Diana was a staggering $185,000 past due on her mortgage. She had a good job, but a lot of bills besides her mortgage to pay each month, and Ocwen didn't think she could afford to keep her home.

Diana wanted to keep her home, but was worried that she would lose it to foreclosure, and that she and her young child would have to find somewhere else to live.

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Topics: loan modification, ocwen loan modification, loan modification success

Avoiding Payment Shock After Getting a Loan Modification

Posted by Maxwell Swinney

Monday, November 21, 2016

Many homeowners haven't paid their mortgage in many months or even years. They fight foreclosure and look for a way to keep their home. After a lot of work, some get approved for a loan modification which returns their loan to normal. Foreclosure disaster averted. Hooray!

But there's one minor problem with getting your loan back to normal: you have to actually start paying a mortgage again. What the heck?

I know, bills are terrible, but getting a free house is not a realistic possibility. Keeping your home after falling behind on payments by getting a loan modification is the best result, and one that millions of homeowners in recent years wanted to achieve and couldn't. (Seven million Americans have been in foreclosure since the recession began.)

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Topics: loan modification, foreclosure defense, life after foreclosure

Successful Loan Modification Roundup Week Of 11/18

Posted by Maxwell Swinney

Friday, November 18, 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 with Carrington, Wells Fargo, Chase, Nationstar, Ocwen, Bank of America, Ditech, Caliber, one forbearance plan with MGC Mortgage, and one deed in lieu of foreclosure agreement: 

Wells Fargo

Our Wells Fargo client was $37,238 past due on mortgage following the death of her husband, but we helped her get an FHA HAMP trial loan modification with $158 cheaper payment!

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Topics: loan modification, ocwen loan modification, loan modification success

Two Common Nationstar Loan Modification Problems

Posted by Maxwell Swinney

Monday, November 14, 2016

With a servicing portfolio worth more than $369 billion and over 2.3 million customers, Nationstar is one of the largest mortgage loan servicers in the country.

Nationstar's website says they have “A Culture of Caring,” and Because we are focused on keeping people in their homes, it's natural for us to want to do all we can to help those who are truly struggling.” 

Despite its self-proclaimed “culture of caring,” homeowners often find that it's difficult to deal with Nationstar when trying to get a loan modification, and that they don't feel the servicer does all they can to keep them in their home.

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Topics: loan modification, nationstar loan modification

Successful Loan Modification Roundup Week Of 11/11

Posted by Maxwell Swinney

Friday, November 11, 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 with SPS, Wells Fargo, Chase, Nationstar, and Loan Care, and one deed in lieu of foreclosure agreement with Carrington: 

SPS

Our SPS clients were 89 months and $449,078 past due on mortgage, but we got them a streamline HAMP loan modification with $1,240 monthly savings, interest rate slashed, and $209,885 deferred principal forgiven if paid on time for three years!

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Topics: wells fargo loan modification, loan modification, deed in lieu of foreclosure, loan modification success, nationstar loan modification, loan care loan modification, chase loan modifications

4 Things To Know About Loan Modifications With Citi

Posted by Maxwell Swinney

Tuesday, November 8, 2016

Are you having a hard time paying your mortgage? Have you already defaulted? If you want to keep your home you should look into getting a loan modification to avoid foreclosure and get your mortgage back to normal. A loan modification can even result in a lower monthly payment and principal forgiveness or forbearance.

To get a loan modification you'll need to work with your loan servicer, which is the company that takes your payments, credits your account, and forecloses on you when you stop paying.

But your servicer isn't necessarily the owner of your loan. That's the investor, and they're the one that has the power to approve or deny your loan modification application.

Some companies, like Ocwen, only service loans, and don't invest in any loans. But some banks, like Citi (aka Citigroup or Citibank), could be both the servicer of and investor in a mortgage, or just one and not the other.

Citigroup is one of the “big four” banks in the U.S. along with Wells Fargo, Bank of America, and JPMorgan Chase. Citi is involved in a lot of mortgages, many of which have defaulted on at one point. We've helped many homeowners who have a mortgage with Citi save their their home through a modification.

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Topics: loan modification, citi loan modification

What is an In-House Loan Modification?

Posted by Maxwell Swinney

Saturday, November 5, 2016

If you're having trouble with your mortgage, you're probably aware of the possibility of getting a loan modification to avoid foreclosure and keep your home. A loan modification is a permanent change to one or more of the terms of your mortgage loan, such as the interest rate, term length, or principal.

The most well-known loan modification program is the federal government's HAMP (Home Affordable Modification Program), which was created in 2009 to help homeowners avoid foreclosure and get a more affordable payment.

But there's another type of loan modification that can be just as good as HAMP. It's called an in-house, or traditional, modification.

An in-house loan modification is not a modification that allows you to stay in your house while your mortgage is being modified. You can do that no matter what type of loan mod you're applying for. (You only have to move out after your house is sold and you've been evicted.)

An in-house loan modification is a proprietary loan mod done by your bank, not through a government program. It's also called traditional because in-house mods have been around since before HAMP was created.

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Topics: loan modification, HAMP, hamp loan modification

Successful Loan Modification Roundup Week Of 11/4

Posted by Maxwell Swinney

Friday, November 4, 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.

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Topics: loan modification, loan modification success

Using Your Statutory Rights to Adjourn a Sheriff's Sale in New Jersey

Posted by Maxwell Swinney

Tuesday, November 1, 2016

Homeowners in New Jersey have a right to adjourn a sheriff's sale of their home for 14 days for any or no reason by paying a small fee.

And this can be done twice.

This foreclosure avoidance tool is called a statutory right to adjourn sheriff's sale. (Adjournment means a temporary postponement of a court action.)

It's not a permanent way out of foreclosure, and it doesn't cancel the sale, but it's a great tool for homeowners to use to temporarily stop the sale of their home when no other option is available.

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Topics: new jersey foreclosure process, i have a foreclosure sale date, prolong foreclosure, foreclosure defense attorney new jersey

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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