Foreclosure and Loan Modification Blog

Jake Sterling

Jake Sterling is Amerihope Alliance Legal Services' Homeowner Liaison. He helps to bring awareness and teach homeowners about foreclosure defense and options to save their homes.

What's Taking So Long For Your Final Loan Modification Offer?

You did the hard work of applying for a loan modification and making your trial modification payments. Congratulations!

After making that last trial payment, the only thing to do is wait for the bank to send you a final modification offer, then you can finally put your foreclosure nightmare behind you forever and move on with life. Right?

Unfortunately, your permanent modification offer may not come right away. Why is that?

Applying For A Loan Modification

Applying for a loan modification is no easy task. You have to submit a package of documents called a Request for Mortgage Assistance or RMA. Often the servicer will require the homeowner to continually resubmit newer versions of the same documents such as bank statements while the application is under review.

[fa icon="clock-o"] Wednesday, March 6, 2019 [fa icon="user"] Jake Sterling [fa icon="folder-open'] loan modification, foreclosure, trial modification

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:

Successful Loan Modification Roundup Week of 2/18/19

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.

A Letter to Our Clients Who Are Facing Extreme Cold Temperatures This Week

Dear Clients,

[fa icon="clock-o"] Wednesday, January 30, 2019 [fa icon="user"] Jake Sterling [fa icon="folder-open'] foreclosure defense

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.

Does an Act 91 Notice Mean You’re in Foreclosure?

[fa icon="clock-o"] Saturday, February 24, 2018 [fa icon="user"] Jake Sterling [fa icon="folder-open'] pennsylvania foreclosure defense, act 91 notice

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?

[fa icon="clock-o"] Wednesday, April 20, 2016 [fa icon="user"] Jake Sterling [fa icon="folder-open'] how to stop foreclosure, loan modification help, avoiding foreclosure

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.

[fa icon="clock-o"] Wednesday, November 4, 2015 [fa icon="user"] Jake Sterling [fa icon="folder-open'] loan modification, home affordable mofication program qualifications, HAMP, hamp loan modification

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.

[fa icon="clock-o"] Wednesday, September 16, 2015 [fa icon="user"] Jake Sterling [fa icon="folder-open'] mortgage fraud

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?

[fa icon="clock-o"] Wednesday, August 12, 2015 [fa icon="user"] Jake Sterling [fa icon="folder-open'] loan modification denied, foreclosure defense

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.

[fa icon="clock-o"] Tuesday, June 16, 2015 [fa icon="user"] Jake Sterling [fa icon="folder-open'] successful loan modifications, florida foreclosure attorney, foreclosure deficiency

Foreclosure and Loan Modification Blog

Jake Sterling

Recent Posts

What's Taking So Long For Your Final Loan Modification Offer?

Applying For A Loan Modification

Successful Loan Modification Roundup Week of 2/25/19

Successful Loan Modification Roundup Week of 2/18/19

A Letter to Our Clients Who Are Facing Extreme Cold Temperatures This Week

Act 91 Notice Doesn't Mean You're Losing Your Home

Does an Act 91 Notice Mean You’re in Foreclosure?

The Bank Doesn't Want to Foreclose on Your Freaking House!

Home Affordable Modification Program Qualifications

Banks Still Using Fraudulent Documents to Foreclose On Homeowners

Why Is My Loan Modification Denied?

Case Dismissed Using the Florida Fair Foreclosure Act

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