Foreclosure and Loan Modification Blog

Maxwell Swinney

Successful Loan Modification Roundup Week Of 5/12/17

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 Ocwen:

Ocwen Trial Loan Modification

4 months and $15,321 past due on mortgage, our Ocwen client is now approved for a 3-month in-house trial loan modification with massive monthly savings of $655.73!

[fa icon="clock-o"] Friday, May 12, 2017 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, successful loan modifications, ocwen loan 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 a few of their stories.

Bayview Loan Modification

Our Bayview Loan Servicing client was $12,123.66 past due on their mortgage, but now has a trial loan mod with $56.85 cheaper payment! The first of three payments is due June 1, and we anticipate a final loan modification to be in writing by September.

Citi Denied a Loan Modification for Years until We Demanded Fair Treatment

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners, here is one of their stories.

In March 2014 we were hired by a homeowner in Trenton NJ, whom I'll call Ramon Delgado to protect his privacy, who needed help saving his home from foreclosure.

Mr. Delgado, like most homeowners, didn't want to default on his mortgage with Citi, but a significant loss of income forced him into a situation where he couldn't make his house payments.

He was able to recover from his hardship and regain the ability to pay his mortgage. However, after falling so far behind, Citi didn't want him to resume making regular mortgage payments. They wanted a big check for all the missed payments plus fees, which he didn't have the cash to do. So he remained in default even though he could have made payments. This is a common scenario.

Ocwen Being Sued By CFPB For Mortgage Servicing Failures... Again

You had one job, Ocwen, and you couldn't even do that!

Mortgage servicer Ocwen is being sued by the Consumer Financial Protection Bureau (CFPB) for “failing borrowers at every stage of the mortgage servicing process.”

The lawsuit alleges that Ocwen's “widespread errors, shortcuts, and runarounds cost some borrowers money and others their home.”

According to the CFPB, for years Ocwen has consistently demonstrated an inability to perform the most fundamental duties required of a mortgage servicer, such as sending accurate monthly statements to borrowers, crediting their account for payment, and correctly handling tax and insurance payments.

[fa icon="clock-o"] Saturday, April 29, 2017 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] ocwen loan modification, CFPB, Ocwen, mortgage servicing, ocwen foreclosure

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.

Nationstar

104 months (8 years) and $235,000 past due on their mortgage, our Nationstar client is happy as you please to have a 3 month trial loan modification plan and opportunity to keep their home!

Loan modification denied because of “complete” application scam?

Loan modifications, which involve a permanent change to one or more of the terms of a mortgage, are often the only means homeowners who've fallen behind on their mortgage have to save their home. But they are quite difficult to get, and sometimes the bank denies that they've received a complete loan modification application, depriving the homeowner of vital protections against foreclosure.

To be eligible for a loan modification, a package called a Request for Mortgage Assistance, or RMA, must be submitted to the mortgage servicer. The RMA includes tax and income documents as well as an affidavit explaining the hardship that caused the default.

Your mortgage company is not supposed to move forward with foreclosure when you have a complete loan modification application accepted and under review. Doing so would be engaging in something called dual-tracking, which is prohibited by mortgage servicing rules from the Consumer Financial Protection Bureau (CFPB).

[fa icon="clock-o"] Tuesday, April 25, 2017 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, Scam Alert, foreclosure, foreclosure fraud

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.

PNC

Our PNC Bank client was 32 months and $28,246.81 past due on adjustable rate mortgage with a sale date set, now she has a permanent loan modification with low 2% fixed interest rate and $185.36 cheaper monthly payment!

Successful Loan Modification Roundup Week of 4/14/17

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.

SLS

15 months and $39,752 past due on mortgage payments to SLS, our client now has a 3 month in-house trial loan modification plan with $540.82 monthly savings!

Not Answering Summons and Complaint Made It Easier for Wells Fargo to Set Foreclosure Sale Date

In late 2016 our firm was retained by a homeowner I'll call Juan Wilson to protect his privacy. Juan owned a home in Orange County, Florida. A truck driver, Juan encountered financial difficulties and prioritized payment on his truck over his home, defaulting on his mortgage in 2015.

There's a saying that goes “you can sleep in your car, but you can't drive your house to work.” That was doubly true of Juan since he made his living with his truck, and without it he wouldn't have the income to pay any bills.

Not paying his mortgage may have been the lesser of two evils, but it came with serious consequences. After not receiving their mortgage payments Juan's bank, Wells Fargo, started trying to foreclose. He was served with a summons and complaint in April of 2015 and made the mistake of not responding to it or raising any defenses.

Successful Loan Modification Roundup Week of 4/7/17

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.

PNC

PNC Bank client was 6 months and $14,015 past due on mortgage, but now has a 3 month in-house trial loan modification plan with $132.69 cheaper payment!

Foreclosure and Loan Modification Blog

Maxwell Swinney

Recent Posts

Successful Loan Modification Roundup Week Of 5/12/17

Ocwen Trial Loan Modification

Successful Loan Modification Roundup Week Of 5/5/17

Bayview Loan Modification

Citi Denied a Loan Modification for Years until We Demanded Fair Treatment

Ocwen Being Sued By CFPB For Mortgage Servicing Failures... Again

Successful Loan Modification Roundup Week Of 4/28/17

Nationstar

Loan modification denied because of “complete” application scam?

Successful Loan Modification Roundup Week of 4/21/17

PNC

Successful Loan Modification Roundup Week of 4/14/17

SLS

Not Answering Summons and Complaint Made It Easier for Wells Fargo to Set Foreclosure Sale Date

Successful Loan Modification Roundup Week of 4/7/17

PNC

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