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 Mortgage & Carrington:
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.
When you’re behind in your mortgage, it seems like your lender is playing mind games with you about auctioning off your home. Every day may be the day the lender wants to take your home without you knowing and sell it to the highest bidder. In Pennsylvania, a lender can’t foreclose on your home without letting you know and going through the proper steps. In 2012, Governor Tom Corbett restarted the Pennsylvania Homeowner’s Emergency Assistance Program (HEMAP) that included the Act 91 Notice. It was enacted years ago, but stopped in 2011 because of lack of funding.
As you fight to keep your home after defaulting on your mortgage payments, it can feel like the bank is completely unwilling to work with you, that they actually want to foreclose on you and take your home. And, since you're just one person fighting a huge bank that has billions of dollars and the best lawyers money can buy, you might as well just roll over and accept the inevitable, right?
The Home Affordable Modification Program is designed to reduce a homeowner's monthly payment to 31 percent of the homeowner's monthly gross income. In many cases, this could mean a reduction in principal or a lowered interest rate.
The late 2000s were an interesting time in America. Esoteric terms, like subprime mortgage-backed securities, credit default swaps, and collateralized debt obligations, entered our vocabulary. A nationwide banking crisis and recession caused millions to lose their jobs and value in their homes and investments. Everyday Americans became aware that there was a housing bubble and, like all bubbles, it was bursting. It appeared that fraud had occurred at large banks, but individual homeowners had to pay the price.
Editor's note: This article was originally published March 2013, and has been updated in August 2015.
So you've recently had your loan modification denied and can't figure out why?
You’ve handled tax forms; you’ve filled out car applications, job applications, and credit card applications. And a loan modification is just another application. Are you thinking to yourself: How hard could it be? Unfortunately, a loan modification might be the hardest thing to get approved without the help of an attorney.
Ask yourself this question: Do you know your DTI “debt to income” ratios? Your Net Present Value (NPV) and how to structure it?
What about organizing and keeping track of all of your final loan modification papers to ensure that nothing is left out?
Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 5,000 homeowners, here is one of their stories.
In March 2015, we were retained to represent a Florida homeowner who was being sued by Dyck-O'neal to collect a post-foreclosure deficiency in the amount of $34,078.93 plus interest, costs, and attorney's fees. We won his case, and he owed nothing.
Things always change, they never stay the same, that's life. Sometimes we are prepared for them and sometimes they are unexpected. What happens when the unexpected is a hardship like illness or suddenly finding yourself without gainful employment. A variety of circumstances can crop up that make it difficult for you to keep up with your mortgage payments. While foreclosures and short sales are options, the premier option for struggling homeowners who want to keep their home are loan modifications. Loan modifications are a change in one or more of the terms of the original loan.
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.
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.
