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Foreclosure Defense and Loan Modification Blog

2 Ways Bad Information Can Drive You Into Foreclosure

Posted by Maxwell Swinney

Tuesday, January 31, 2017

When you're at risk of foreclosure, you can't make good decisions about what to do without good information. And sometimes the people you trust most to give you accurate information can't be counted on to provide it.

It's unfortunate, but the banks and companies offering to help homeowners with foreclosure defense and loan modifications have been known to lie and/or omit important facts in a way that benefits them and harms the homeowner.

The consequences of acting on bad advice related to your mortgage can have a huge impact on your financial well-being. It can harm your credit and cause you to unnecessarily lose your home to foreclosure. Foreclosure has even been shown to cause health problems. It's a big deal.

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Topics: loan modification, foreclosure, loan modification fraud, foreclosure fraud

Successful Loan Modification Roundup Week Of 1/27/17

Posted by Maxwell Swinney

Friday, January 27, 2017

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 & Ocwen:

SLS

18 months and $24,516 past due on mortgage with SLS, our client has a HAMP II loan modification with $508 cheaper monthly payment and an interest rate that dropped from 7% to 3%!

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Topics: loan modification, successful loan modifications, ocwen loan modification, sls loan modification

4 Dirty Tricks Mortgage Lenders Use To Foreclose On Your Home

Posted by Maxwell Swinney

Thursday, January 26, 2017

Dealing with your lender on your own when you're behind on your mortgage payments is like going to war against an opponent who has nuclear weapons and all you've got is a rusty pocket knife. Things aren't likely to go well for you.

Why is that? Your lender has a lot of resources, including loads of money and experienced attorneys working for them. But beyond that, some mortgage lenders and servicers have repeatedly shown a willingness to bend or break rules, laws, and standards of ethics in order to foreclose.

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Topics: loan modification, foreclosure, loan modification fraud, foreclosure fraud, free house, mortgage abuse

Foreclosures At 10-Year Low In 2016, But Crisis Still Not Over

Posted by Maxwell Swinney

Tuesday, January 24, 2017

Foreclosure filings in 2016 were at their lowest level in ten years according to ATTOM Data Solutions Year-End 2016 U.S. Foreclosure Market Report.

The report shows 933,045 default notices, scheduled auctions, and bank repossessions for 2016, which is a 14% drop from 2015 and the lowest number of foreclosure filings since 2006, which had 717,522 foreclosure filings.

This is a continuation of a positive trend. Since 2014 the rate of foreclosure has been in an “historically normal range.” 

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Topics: loan modification, foreclosure, foreclosure crisis

Successful Loan Modification Roundup Week Of 1/18

Posted by Maxwell Swinney

Friday, January 20, 2017

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

Our SPS client has a streamline HAMP loan modification (their second HAMP mod) with $520 lower monthly payment and 5.075% lower interest rate!

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Topics: loan modification, successful loan modifications, sps loan modification, caliber loan modification, roundpoint loan modification, suntrust loan modification

Seeing Through Bank of America's BS & Unfair Foreclosure

Posted by Maxwell Swinney

Tuesday, January 17, 2017

Divorce stinks. And the emotional cost is only part of the reason why. It also affects the finances of the people involved, usually for the worse. Loans that were taken out as a couple become unaffordable after the split when one person is trying to make the payments on their own.

That's the case for a Florida couple that retained our law firm to help them avoid foreclosure. I'll call them Mr. and Mrs. Kelly to protect their privacy. The Kellys divorced in 2009, but remained on good terms after separating.

Their home was awarded to Mrs. Kelly in the divorce. She tried to keep it, but couldn't afford the payments on her own, and Bank of America filed for foreclosure in 2011.

Mrs. Kelly wanted to find a solution to keep the property, but needed to reinstate the mortgage with a lower payment that was affordable with her income. A loan modification is the only way to achieve that.

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Topics: loan modification, bank of america foreclosure, foreclosure

Life After HAMP Part II: In-House Loan Modifications Still An Option

Posted by Maxwell Swinney

Saturday, January 14, 2017

HAMP (the Home Affordable Modification Program), the government's loan modification program, expired December 30, 2016. Unless your application was accepted before then, HAMP is not an option for you.

But it's still possible to avoid foreclosure by getting an in-house loan modification.

In-house modifications are also called traditional or proprietary modifications, because they existed before HAMP was created and are given according to each lender's standards.

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Topics: loan modification, HAMP, in-house loan modification

Successful Loan Modification Roundup Week of 1/13

Posted by Maxwell Swinney

Friday, January 13, 2017

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 US Bank, PNC Bank, and SLS:

US Bank

71 months and $161,156.52 past due on mortgage with US Bank and in foreclosure, our client now has a HAMP II final loan modification with $815.68 cheaper monthly payment!

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Topics: loan modification, successful loan modifications, PNC loan modification success, sls loan modification, us bank loan modification

Life After HAMP Part I: Flex Modification Replacing Some Mods

Posted by Maxwell Swinney

Saturday, January 7, 2017

Fannie Mae and Freddie Mac have announced the creation of the Flex Modification foreclosure prevention program, which will assist struggling homeowners in keeping their homes by lowering their monthly mortgage payments.

Eligible borrowers are expected to receive a 20% reduction in their monthly payment when they participate in the program.

Fannie and Freddie have said that a “high percentage” of borrowers more than 60 days past due on their mortgage will be eligible for participation in the Flex Modification program as well as some less than 60 days delinquent and some who are current on their loan.

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Topics: stop foreclosure, loan modification, hamp loan modification, flex modification

Successful Loan Modification Roundup Week Of 1/6

Posted by Maxwell Swinney

Friday, January 6, 2017

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 Nationstar, Chase, Selene, and Carrington:

Nationstar

After not paying mortgage for five years, our Nationstar client has a fresh start with a final in-house loan modification with $30,653 principal forgiveness, 40 year term, and 1.25% lower interest rate!

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Topics: loan modification, successful loan modifications, carrington loan modification, nationstar loan modification, chase loan modifications, selene loan modification

Why Were You Denied A Loan Modification After Making Trial Payments?

Posted by Maxwell Swinney

Monday, January 2, 2017

Having your application for a mortgage loan modification accepted typically means being required to make a series of trial modification payments to prove you're able to pay your mortgage again. Passing that test means you're most of the way to your goal to a permanently modified loan.

But, even after making trial modification payments, some homeowners are still denied a permanently modified mortgage.

Here are some reasons that could happen:

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Topics: loan modification denied, loan modification, hamp loan modification, trial modification

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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