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Foreclosure Defense and Loan Modification Blog

It's Time To Get Your Taxes Done (And Save Your Home)

Posted by Maxwell Swinney

Sunday, April 1, 2018

Ben Franklin said the only two certainties in life are death and taxes. Certain to happen, sure, but when? Death row inmates aside, we don't know when we'll die. But the day our income taxes are due is known. Normally it's April 15. That's a Sunday this year, so the government has set Monday April 17 as the deadline to file income tax returns.

You have to file income taxes with the federal government every year unless you meet the requirements to be exempt. If you owe money to the IRS and don't pay, they will charge you interest and even pursue criminal charges. Just ask Wesley Snipes, he went to prison for two and a half years over tax issues. 

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Topics: loan modification, bank of america foreclosure, income tax

6 Tips for Success for Our Foreclosure Defense Clients

Posted by Maxwell Swinney

Monday, March 26, 2018

A successful relationship between a client and a law firm requires both parties to do their job. The firm may have the most work to do, but there are some things that only the client can do. Even the greatest attorney in the world can't get you what you want if you're not playing ball.

If you hire our law firm, take the steps below to ensure that you have the best relationship with us and the highest chance of getting the outcome you want.

1. Add our phone numbers to your contacts and return our calls.

Have you ever received a call from an unknown number and not answered it because you assumed that if the caller was important to you, you'd already have their number saved in your phone? Probably a telemarketer, you figured. Then you get a voice mail and realize that the caller was someone very important to you, but you didn't add their number to your contacts yet. Crap!

Don't let that happen with a call from your lawyer. Add our number to your contacts and answer when we call you -- it's probably important. If you're a client of our firm, you will be getting calls from 877-882-5338 or 866-558-2408. You might also want to add your paralegal's direct fax number, so you have it handy while you're doing #3 below.

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Topics: loan modification, foreclosure defense attorney

Successful Loan Modification Roundup Week of 3/9/18

Posted by Maxwell Swinney

Friday, March 9, 2018

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners. Here are some 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 Freedom Mortgage, Carrington, Wells Fargo, Capital One, Ditech, and Bayview:

Freedom Mortgage

Our Freedom Mortgage client was 8 months and $15,334 past due on his mortgage, but now he has an FHA loan modification with $32.22 cheaper monthly payment!

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Topics: wells fargo loan modification, loan modification, successful loan modifications, carrington loan modification, bayview loan modification, ditech loan modification, capital one loan modifications, freedom mortgage loan modification

What Happens When Hurricane Irma Mortgage Help Ends?

Posted by Maxwell Swinney

Wednesday, March 7, 2018

March 2018 Update: If your lender is calling you regarding delinquent payments after making you an offer of assistance, act immediately. We have been contacted by several homeowners who have received foreclosure notices after believing their lender or servicer had granted them relief.


Temporary mortgage assistance has been made available to homeowners in parts of the country that were declared disaster areas as a result of 2017's major hurricanes, including Hurricane Irma in Florida, Harvey in Texas, and Maria in Puerto Rico. That help is much needed for many people, but what happens when the relief ends?

After getting some kind of assistance, you and your mortgage could end up in better shape, but you could also find that your problems are worse. It all depends on your situation and what kind of assistance you get. So it's important to understand what you're getting into.

Let's take a look at some of the assistance available.

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Topics: loan modification, hurricane irma, mortgage assistance

Life After HAMP Part III: Loan Mods in the Trump Era

Posted by Maxwell Swinney

Saturday, February 24, 2018

HAMP, the federal government's loan modification program, expired December 31, 2016, but we're still talking about it in 2018. Loan modifications remain a possibility for homeowners who need help avoiding foreclosure and keeping their home.

What Was HAMP?

In 2009, during the subprime mortgage crisis, foreclosures were happening at a rate not seen since the Great Depression. The Obama administration created HAMP to help struggling homeowners avoid foreclosure by modifying the terms of their loans to make them affordable.

HAMP provided guidelines for modifying mortgages and incentives for lenders to do so rather than foreclose. The program allowed for the term of the loan to be extended, the interest rate to be lowered, and the principal balance to be reduced or restructured so that the monthly mortgage payment was lowered to an affordable percentage of the borrower's current income. 

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Topics: loan modification, HAMP, hamp loan modification

Can You Remodify Your Mortgage When You've Already Had a Loan Modification?

Posted by Maxwell Swinney

Saturday, February 10, 2018

There is a wild beast lurking outside the door of many homes in America. Its name is foreclosure. For some homeowners it's not the first time they have encountered it. It came snarling and threatening to take their home from them once before, but they were able to drive it off with a loan modification.

Now the beast is back at the door, as dangerous and close as ever, and homeowners are wondering if a loan modification could be used to defeat it again.

Fortunately for distressed homeowners, loan modifications are not strictly one-time use. Having saved your home from foreclosure with a modification once does not automatically disqualify you from getting another.

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Topics: loan modification, housing market

Successful Loan Modification Roundup Week of 2/9/18

Posted by Maxwell Swinney

Friday, February 9, 2018

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 some 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 Rushmore, Penny Mac, and BB&T:

Rushmore

Our Rushmore clients were 62 months (5 years) and $120,007.45 past due on their mortgage payments and had been served foreclosure. We got them a three-month in-house trial loan modification plan with a fresh start and opportunity for a permanent loan modification!

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Topics: loan modification, successful loan modifications, Rushmore loan modification, bb&t loan modification, penny mac loan modification

Successful Loan Modification Roundup Week of 1/12/18

Posted by Maxwell Swinney

Friday, January 12, 2018

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:

Carrington

Our Carrington client was an astounding 98 months and $200,000+ past due on his mortgage. He was in an active foreclosure case and facing summary judgment. Now he has an in-house trial loan modification plan with lower interest rate, $969 lower monthly mortgage payment, and $323,930.01 principal forgiveness!

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Topics: loan modification, successful loan modifications, carrington loan modification

HUD Releases Guide "What To Do If You Can't Pay Your Mortgage"

Posted by Maxwell Swinney

Wednesday, January 10, 2018

The Department of Housing and Urban Development (HUD) has released a document that gives homeowners information on what to do when they're facing foreclosure or can't make their mortgage payments called “Homeowner's Guide to Success: What To Do If You Can't Pay your Mortgage.”

The HUD guide is short, but contains a lot of useful information for homeowners who are in foreclosure or in danger of falling into foreclosure. If you're having trouble with your mortgage and don't know what to do, HUD's guide is a good place to start learning about what options are available to you.

The guide includes a glossary of terms, a financial worksheet, and advice on where to go for more information. But it also includes some specific advice on what you should do.

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Topics: loan modification, HUD, avoiding foreclosure

Will Your Loan Modification Include a Deferment and Balloon Payment?

Posted by Maxwell Swinney

Saturday, January 6, 2018

The terms of some mortgage loan modifications include deferment of a portion of the money owed, which is not paid back in monthly payments like the rest of the loan. Rather, the deferred amount is put to the side when a loan is permanently modified, where it accumulates no interest.

When the loan matures or the home is sold, the deferred amount has to be paid back in one balloon payment.

When a loan modification includes a deferment it is typically for the amount the borrower is past due, which includes fees, and can be tens or hundreds of thousands of dollars.

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Topics: loan modification, deferment

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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