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Foreclosure Defense and Loan Modification Blog

Not Answering Summons and Complaint Made It Easier for Wells Fargo to Set Foreclosure Sale Date

Posted by Maxwell Swinney

Monday, April 10, 2017

In late 2016 our firm was retained by a homeowner I'll call Juan Wilson to protect his privacy. Juan owned a home in Orange County, Florida. A truck driver, Juan encountered financial difficulties and prioritized payment on his truck over his home, defaulting on his mortgage in 2015.

There's a saying that goes “you can sleep in your car, but you can't drive your house to work.” That was doubly true of Juan since he made his living with his truck, and without it he wouldn't have the income to pay any bills.

Not paying his mortgage may have been the lesser of two evils, but it came with serious consequences. After not receiving their mortgage payments Juan's bank, Wells Fargo, started trying to foreclose. He was served with a summons and complaint in April of 2015 and made the mistake of not responding to it or raising any defenses.

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Topics: i have a foreclosure sale date, wells fargo loan modification, foreclosure defense, florida foreclosure process, foreclosure

CoreLogic Releases 10-year Retrospect of The Foreclosure Crisis

Posted by Maxwell Swinney

Wednesday, April 5, 2017

10th anniversaries are traditionally celebrated with gifts of tin or aluminum. But for the 10th anniversary of the foreclosure crisis, real estate data and analytics company CoreLogic has released a report analyzing a decade of foreclosures. How romantic! CoreLogic knows us so well.

It's called “10-year retrospect of the U.S. residential foreclosure crisis”. It shows that the housing market has improved dramatically from the worst of the crisis and “started to normalize, recording approximately 22,000 completed foreclosures a month.”

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Topics: foreclosure, foreclosure crisis

How Do You Help a Family Member in Foreclosure?

Posted by Maxwell Swinney

Thursday, March 9, 2017

You've only got one family, and supporting them when times are tough is the right thing to do. After all, they'd do the same for you.

But what if a member of your family has a problem that's too big for you to solve, like difficulty with their mortgage?

Over the past decade millions of people have been in just that situation. Since the Great Recession began, seven million homes have been in foreclosure! That's a lot of affected families. 

And the foreclosure crisis isn't over. There are still thousands and thousands of homeowners either in foreclosure or on their way to it.

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Topics: foreclosure defense, foreclosure

Who Is The Plaintiff In The Foreclosure Lawsuit Against You?

Posted by Maxwell Swinney

Friday, February 17, 2017

If you live in a judicial foreclosure state and stop paying your mortgage, you will eventually become the defendant in a civil lawsuit.

The plaintiff, which is the party suing you, must go through the court system in order to foreclose on your house. But who will the plaintiff be?

It could be one of a few different parties or some combination of them. It could be the investor in your loan, your loan servicer, or a trustee that represents the parties with an interest in your mortgage.

Let's examine who those parties are, and what it means for you when fall behind on your mortgage.

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Topics: foreclosure, foreclosure lawsuit

Could A HUD Partial Claim Help You Avoid Foreclosure?

Posted by Maxwell Swinney

Wednesday, February 8, 2017

If you fall behind on your FHA-insured mortgage loan, you might be able to get help from something called a partial claim payment, which is a loan from HUD paid to your lender to avoid foreclosure.

To be eligible for a HUD partial claim you must have missed at least four payments, but no more than 12. And you have to show that you'll be able to pay your mortgage after the claim is paid, and that you will use the property as your primary residence.

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Topics: foreclosure, HUD, partial claim

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

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

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

Loan Modifications, Mortgage Interest Rates, and HELOCs In 2017

Posted by Maxwell Swinney

Wednesday, December 28, 2016

A lot of things about 2016 were not so good. In fact, they stunk. We lost Prince, David Bowie, Harambe and George Michael. There was a contentious election, terrorism abroad, war in Syria, the Zika virus, and Brexit.

With all that and more, many people are glad to put 2016 behind them, and are hoping that 2017 turns out better. 

It's important to point out that not everything was terrible in 2016. The stock market hit new highs, and housing continued to improve. Home prices went up, interest rates stayed low, and the number of foreclosures declined.

But will the positive trends in housing continue with everything that's changing, which includes a new president, new congress, and the expiration of some government programs?

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Topics: loan modification, foreclosure, housing, heloc

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.

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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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