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Foreclosure and Loan Modification Blog

What Does It Mean To Return Your Mortgage To "Normal Servicing"?

If you want to keep your home after falling behind on your mortgage, your goal should be to find a solution, such as a loan modification, that will return your loan to “normal servicing” and allow you to avoid foreclosure.

What Is Loan Servicing

Loan servicing is the process by which a company collects money from a borrower and manages their loan. Your mortgage loan servicer is the company you send your mortgage payments to. They're like an accounts receivable department that collects your payments and distributes the funds to the investor that owns your loan, collecting a fee for themselves in the process.

You have no say in who services your mortgage, and servicing rights can transfer. One month you're making mortgage payments to Cenlar, the next it's to Ocwen. If you don't like it, too bad. You have no say in the matter.

Successful Loan Modification Roundup Week of 11/9/18

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 Ditech and SPS:

Ditech

Our Ditech clients were $10,325.25 past due on their mortgage, but we helped them get a three month trial loan modification with the opportunity for a permanent loan mod!

Successful Loan Modification Roundup Week of 11/2/18

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 Ocwen, Loan Care, Carrington, Bank of America, and PHFA:

Ocwen

Check out these incredible savings: Our Ocwen clients were 19 months and $50,148 + fees past due on their mortgage, but we helped them get a 3 month streamline trial loan modification plan with insane $746 lower monthly payment!

Successful Loan Modification Roundup Week of 10/26/18

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 Loan Care and Chase:

Loan Care

$44,772.03 past due on his mortgage, we helped our Loan Care client get a 3 month trial trial loan modification plan with the opportunity for a permanent mod!

Successful Loan Modification Roundup Week of 10/19/18

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 Rushmore, Ocwen, Gregory Funding, Carrington:

Rushmore

Our Rushmore clients were $58,386.13 past due on their mortgage, but we helped them get a three month streamline trial loan modification plan with $364.13 cheaper monthly payment!

[Foreclosure Q&A] What is a Notice of Default?

A notice of default is a letter sent to a homeowner telling them that they have not made their mortgage payments and that they need to pay for the missed payments, plus fees, in order to avoid foreclosure.

The letter will call making up for the missed payments “curing the default”.

A notice of default is required by law and will usually arrive after three months of missed mortgage payments. It shouldn't be a surprise since you know when you haven't been paying your mortgage and the bank will have been in contact before sending the default letter.

What If Your Home Doesn't Sell At Foreclosure Auction?

If you fall behind on your mortgage payments, and don't come to some sort of resolution with your lender, you're going to end up in foreclosure. The end result of foreclosure is often a public auction.

The foreclosing party is obligated to publicize the auction in advance in local newspapers and online. On the day of the auction, the property will be sold to the highest bidder. That's the goal, anyway. But sometimes there aren't any buyers at the auction willing to pay the minimum price that's been set.

When that happens, the lender will usually take the home back. According to RealtyTrac, in 2016 71.5% of completed auctions in the U.S. resulted in homes going back to the foreclosing lender, and the remaining 28.5% went to a third-party buyer.

Successful Loan Modification Roundup Week of 10/12/18

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 SPS, Seterus, and Loan Care:

SPS

Our SPS client fell $12,638.15 past due on his mortgage, which had been previously modified. We helped him get a repayment plan that allows him to keep his home and avoid foreclosure!

Look at These Raving Reviews Our Clients Left Us in September!

Amerihope Alliance Legal Services has helped more than 7,000 homeowners obtain a loan modification in the 10 years we've been in business. Our experienced staff works hard to get our clients the results they want, and a number of our satisfied clients have left us reviews online to make public their appreciation for the work we've done for them.

In September 2018, we received a large number of reviews on a site called TrustLink, a free website that provides customer reviews of businesses. TrustLink verifies that reviews come from customers who have actually used the business they're reviewing, so a good review there really means something because it can't be purchased or falsified. Amerihope Alliance Legal Services has over 370 reviews.

Alongside the attorneys, our paralegals work closely with our clients and are mentioned frequently in glowing terms in the TrustLink reviews we received in September, which are all five stars, the highest you can get. Take a look at these unedited reviews below: 

 

Successful Loan Modification Roundup Week of 10/5/18

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 Bayview and Freedom Mortgage:

Bayview

23 months and $41,642+fees past due on their mortgage (which had been previously modified) with a foreclosure sale date set, we helped our Bayview clients get a three month trial loan modification plan with a fresh start!

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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