Foreclosure and Loan Modification Blog

Maxwell Swinney

How Do You Help a Family Member in Foreclosure?

You've only got one family, and supporting them when times are tough is the right thing to do. After all, they'd do the same for you.

But what if a member of your family has a problem that's too big for you to solve, like difficulty with their mortgage?

Over the past decade millions of people have been in just that situation. Since the Great Recession began, seven million homes have been in foreclosure! That's a lot of affected families.

And the foreclosure crisis isn't over. There are still thousands and thousands of homeowners either in foreclosure or on their way to it.

[fa icon="clock-o"] Thursday, March 9, 2017 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure defense, foreclosure

Some homeowners do everything right, but mistakes by their bank cause them serious problems with their home. That's the case for a recent client of our firm who was approved for a trial loan modification, but her home was still sold at a foreclosure auction by Wells Fargo!

In August of 2016 a homeowner in Miami-Dade County, that I'll call Mrs. Thompson to protect her privacy, was approved for a HAMP trial loan modification by her lender, Wells Fargo. She had previously fallen behind on her payments, and being approved for a trial loan modification was exactly what she needed in order to avoid foreclosure and keep her home.

Normally being approved for a trial modification is the hard part about avoiding foreclosure because loan modification applications take a lot of work to complete and are frequently denied. But Mrs. Thompson was approved for a trial modification, so all she had to do was make her trial payments on time and move on with life, right? Not so fast.

Homeowners Eligible for Share of $2.895 Million Caliber Settlement

Some of our clients were recently sent legal notices from a claims administrator notifying them that they may be entitled to benefits under a class action settlement with Caliber Home Loans.

As their attorney of record, these notices were sent directly to us. The notice consists of two postcards. One provides details on the settlement, and the other contains a settlement claim form that can be filled out and dropped in the mail.

The notice is sent from:
Caliber Home Loans Settlement Claims Administrator
P.O Box 43458
Providence, RI 02940

The information from the front of the notice is on the right.

It tells you that someone named Ashack sued Caliber for themselves and on behalf of all the people who received calls on their cell phones from Caliber from an automatic dialing system which violated the TCPA, or Telephone Consumer Protection Act, and Caliber agreed to pay money to settle. Now the money from the settlement will be approved by the court and then distributed.

[fa icon="clock-o"] Saturday, March 4, 2017 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] caliber loan modification, class action lawsuit

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 SLS, Seterus, Cenlar, M&T Bank, and Fifth Third Bank, and Wells Fargo:

SLS

Nearly 7 years, and $322,530 past due on mortgage, our SLS client now has a final HAMP loan modification with $803 cheaper payment, $5,000 principal forgiveness, $220,617 deferred, and low 3% fixed interest rate!

Successful Loan Modification Roundup Week Of 2/24/17

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.

US Bank

$40,831.62 past due with US Bank, our client is approved for a trial loan modification with $514.06 lower monthly payment! Their payment was reduced from $2,215.72 to $1,701.66!

Distressed Home Sales In 2016 At A Nine-Year Low

Distressed home sales made up 16.2% of all homes sold in 2016, which is a drop of more than two and a half points from 2015, and a smaller percentage of home sales than in any year since 2007, according to ATTOM Data Solutions Year-End 2016 U.S. Home Sales Report.

A distressed sale is a bank-owned sale, short sale, or foreclosure auction sold to a third party buyer. Basically anything other than a regular sale of a home in which the seller has equity is considered a distressed sale. It's a good thing the number of distressed sales are down.

The distressed sales numbers breakdown as follows. REO (Real Estate Owned) sales, also called bank-owned sales, were 8% of all sales in 2016, which is down two points from 2015 and the lowest level in 10 years.

[fa icon="clock-o"] Tuesday, February 21, 2017 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] short sale, housing market, deed in lieu of 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.

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 Chase, Wells Fargo, SPS, Bank of America, Ocwen, Citi, and Caliber:

Chase

Our Chase client was 19 months and $30,463 past due, but now has a permanent FHA-HAMP loan modification with lower interest rate and $59.55 cheaper payment!

Who Is The Plaintiff In The Foreclosure Lawsuit Against You?

If you live in a judicial foreclosure state and stop paying your mortgage, you will eventually become the defendant in a civil lawsuit.

The plaintiff, which is the party suing you, must go through the court system in order to foreclose on your house. But who will the plaintiff be?

It could be one of a few different parties or some combination of them. It could be the investor in your loan, your loan servicer, or a trustee that represents the parties with an interest in your mortgage.

Let's examine who those parties are, and what it means for you when fall behind on your mortgage.

[fa icon="clock-o"] Friday, February 17, 2017 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure, foreclosure lawsuit

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

$234,020 past due on mortgage with SLS, our client was in active foreclosure and had three sale dates canceled, now has a permanent HAMP II loan modification with $735 lower monthly payment and 5% lower interest rate!

Could A HUD Partial Claim Help You Avoid Foreclosure?

If you fall behind on your FHA-insured mortgage loan, you might be able to get help from something called a partial claim payment, which is a loan from HUD paid to your lender to avoid foreclosure.

To be eligible for a HUD partial claim you must have missed at least four payments, but no more than 12. And you have to show that you'll be able to pay your mortgage after the claim is paid, and that you will use the property as your primary residence.

[fa icon="clock-o"] Wednesday, February 8, 2017 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure, HUD, partial claim

Foreclosure and Loan Modification Blog

Maxwell Swinney

Recent Posts

How Do You Help a Family Member in Foreclosure?

Wells Fargo's Negligence Leads to Wrongful Foreclosure Auction

Homeowners Eligible for Share of $2.895 Million Caliber Settlement

Successful Loan Modification Roundup Week Of 3/3/17

SLS

Successful Loan Modification Roundup Week Of 2/24/17

US Bank

Distressed Home Sales In 2016 At A Nine-Year Low

Successful Loan Modification Roundup Week Of 2/17/17

Chase

Who Is The Plaintiff In The Foreclosure Lawsuit Against You?

Successful Loan Modification Roundup Week Of 2/10/17

SLS

Could A HUD Partial Claim Help You Avoid Foreclosure?

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