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.

Loan Modification Success: Fetching a Flagstar Principal Reduction

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.

Imagine being confronted with the prospect of losing your home in foreclosure. Now imagine having to deal with that financial pressure and the pressures that come with having a newborn baby. This is what our client was faced with, and was able to eventually overcome, thanks to Amerihope Alliance Legal Services.

When this client retained us in May 2013, she had already tried working with other law firms who simply weren't able to solve her situation. She was already 4 and a half years behind on paying her $1,750 mortgage payment to Flagstar Bank, and was in active foreclosure. This presented a unique challenge, as our team did not only have to clean up the mess left behind by the previous law firms, but we also had to work on preparing a great loan modification package for the client.

[fa icon="clock-o"] Sunday, December 1, 2013 [fa icon="user"] Jake Sterling [fa icon="folder-open'] successful loan modifications

When researching options for preventing foreclosure, expect to encounter conflicting opinions regarding the most effective strategy. That's to be expected, because personal finance is exactly that – personal. What makes sense for one person's financial situation may not be the right move for a person with slightly different circumstances. Some homeowners choose a strategy that includes filing bankruptcy to avoid foreclosure. Careful review may lead others to decide they're better served by combining a loan modification program with aggressive foreclosure defense.

Immediate Effect of Filing Bankruptcy

Filing bankruptcy holds a major appeal to stressed homeowners worried about foreclosure. It brings foreclosure proceedings to a temporary halt, offering the homeowner a bit of respite from the ticking foreclosure clock and buying some time to find a solution. That's because once bankruptcy is filed, no further action, including foreclosure, can be taken by the home loan lender without approval by the judge. Filing bankruptcy to avoid foreclosure has become an increasingly popular tactic.

[fa icon="clock-o"] Wednesday, November 27, 2013 [fa icon="user"] Jake Sterling [fa icon="folder-open'] foreclosure defense

By Nick Sweeney

The economy has been stuck on pause (or in some cases, rewind) for about three years now, and for about 59 of the last 60 months, we’ve been eagerly anticipating its quick turnaround so that we can finally get on with our lives.

Instead of waiting for the economy to get better, perhaps it’s us who should get better. Here are three suggested areas to cutback, rethink or undo to wade through this economic onslaught.

Technology

An iPad is really cool to look at, but is it holding more game apps than work apps? Is it really leveraging your business? It may be, but be aware that not all gadgets are created equally when it comes to productivity. Only you know if you’re giving Facebook too much face time.

Conversely, tech tools may also end up saving you money. Just remember to ask yourself if that new gadget or service is a tool or a toy (hint: if it helps you close more deals more quickly, it’s a tool).

[fa icon="clock-o"] Tuesday, November 26, 2013 [fa icon="user"] Jake Sterling [fa icon="folder-open'] understanding credit

Yes! You CAN check your foreclosure status online in most Florida counties. Some Florida Counties have very detailed and comprehensive case information and docket schedules on their website and available to the public. Other counties provide very limited, or no case information on their site - unless you create an account and pay for the case information.

Loan Modification Success: Cutting Chase Payments in Half

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.

Like many other households, one Pennsylvania household had suffered a lot over the past several years. The economy had taken a major toll on the life of their family. Both the husband and wife had lost their jobs in the late '00s, and they had never quite been able to get back on their feet, even after going through bankruptcy. The last thing they wanted to do was to lose their family's beautiful home because they couldn't pay their $2,000 monthly mortgage payment to Chase, or their $2,000 secondary mortgage payment to Sekure Mortgage (SFC). They had already tried to get a loan modification on their own when paying the mortgage became a bit too hard, but were unsuccessful in that endeavor, as were many other homeowners.

[fa icon="clock-o"] Sunday, November 24, 2013 [fa icon="user"] Jake Sterling [fa icon="folder-open'] successful loan modifications

Experiencing temporary or long-term hardship or receiving a foreclosure notice is not a death notice for your house.There are a wide range of options available for homeowners who are in financial trouble.

Cats can't save your home, but the tactics below can!

[fa icon="clock-o"] Friday, November 22, 2013 [fa icon="user"] Jake Sterling [fa icon="folder-open'] stop foreclosure, how to stop foreclosure

Although foreclosure laws vary from state to state, most states require that the lender file a lawsuit with the circuit court in the county that the property is located. As a result, the homeowner will receive a notice of lawsuit. Once the homeowner receives this notice, it's imperative that he or she speak to legal foreclosure counsel, or else they are most likely already in over their heads. Even with this information, some homeowners choose to represent themselves and quickly discover their inability to navigate toward a favorable outcome in the legal process.

[fa icon="clock-o"] Wednesday, November 20, 2013 [fa icon="user"] Jake Sterling [fa icon="folder-open'] foreclosure defense

The Imploding Housing Market

According to an article in CNN Money, the number of foreclosures reached staggering levels in 2007 with 405,000 homeowners losing their homes. Based on the previous year's numbers, repossessions in 2007 were up an astonishing 51%. Yet, the situation continued to worsen with December's foreclosure numbers skyrocketing to 97% over the previous December's filings. For the year 2007, the total filings, which included auction sale notices, default notices, and bank repossessions, towered to an unimaginable 75% over the filings in 2006. Needless to say, the housing market and the nation's economy were in dire straits.

[fa icon="clock-o"] Monday, November 18, 2013 [fa icon="user"] Jake Sterling [fa icon="folder-open'] loan modification help, mortgage modification

Loan Modification Success: PNC Payment Reduction

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.

58-months-behind-3

A homeowner in Pennsylvania hadn't paid his $2,300 mortgage payment to PNC in nearly 5 years, and was about to lose his home because a sale date had already been set. What was probably the most frustrating to the homeowner was that he and his wife had been attempting to get a loan modification from PNC for 3 years, but they had gotten the run-around from the bank. This homeowner needed the help of a highly experienced foreclosure attorney immediately, and he got in touch with us to fix his problem.

[fa icon="clock-o"] Sunday, November 17, 2013 [fa icon="user"] Jake Sterling [fa icon="folder-open'] successful loan modifications

The unofficial definition of a deficiency judgment, sometimes called a mortgage deficiency judgment, could be something like: “…When your former mortgage lender won’t let you go.” Unfortunately, the real answer is a little more complicated.

If the unthinkable happens and you lose your home to foreclosure sale, there could be two outcomes. The first outcome is that the lender receives the amount of money you owe on the mortgage. In a perfect world, your house is worth $100,000 and it sells at foreclosure auction for at least $100,000, then your mortgage lender is just a bad memory (maybe).

[fa icon="clock-o"] Friday, November 15, 2013 [fa icon="user"] Jake Sterling [fa icon="folder-open'] how to stop foreclosure, foreclosure defense, foreclosure deficiency, life after foreclosure

Foreclosure and Loan Modification Blog

Jake Sterling

Recent Posts

Loan Modification Success: Fetching a Flagstar Principal Reduction

What's the Best Kind of Bankruptcy to Avoid Foreclosure? Chapter 7 or Chapter 13 ?

Immediate Effect of Filing Bankruptcy

3 Areas to Cutback, Rethink or Undo as We Work Through Today's Economy

Can I Check My Foreclosure Status in Florida?

Loan Modification Success: Cutting Chase Payments in Half

8 Ways Homeowners Can Stop Foreclosure

Cats can't save your home, but the tactics below can!

Foreclosure Summary Judgment - Hearings and Motions and Sale Dates, Oh My!

Long Live the Mortgage Forgiveness Debt Relief Act

Loan Modification Success: PNC Payment Reduction

What Is a Deficiency Judgment, and How Can You Avoid One?

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