The government shutdown, which began on December 22, 2018 and is now the longest in history, has left 800,000 federal workers without pay.
While there's no end to the shutdown in sight, there is help available for federal workers who are struggling to pay their mortgages because of it.
Mortgage servicers are making assistance available that they normally offer during natural disasters such as hurricanes and wildfires.
Self-employed people earn a higher income on average than people who receive a regular paycheck, but they can have a harder time getting approved for a mortgage. They can also find it more difficult to get approved for a loan modification if they fall behind on their mortgage.
Some lawyers might tell you that you can't get a loan modification if you're self-employed. That's just not true. You can. However, it will most likely add more work to a process that already takes a lot of work.
The reason getting and modifying a mortgage is more difficult for self-employed people is that their income varies more than salaried and hourly workers and they don't have the pay stubs or W-2s that make it easy for banks to verify earnings.
Every January is an opportunity for people to complain about how horrible the previous year was. 2018 certainly had it's share of negative events, including Hurricane Michael hitting Florida and the worst wildfires in California's history.
But let's not forget that there were also good stories, like that dog who adopted a monkey. How awesome is that?
Besides looking back at the good and bad of the previous year, new year's is also a time to look ahead to the issues you care about in the coming year.
If you're behind on your mortgage, one issue you should definitely care about is loan modifications. What's going on with them in 2019?
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 Chase, Ocwen, Wells Fargo, and Mr. Cooper:
Our Chase client was 21 months and $42,505+ fees past due on his mortgage, but we helped him get an FHA partial claim loan modification (his second) with a fresh start!
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 Rushmore, Chase, Wells Fargo and Caliber:
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 Rushmore, Mr. Cooper, SLS, Wells Fargo, Carrington, Loan Care, and PennyMac:
Our Rushmore client was a whopping $56,122.93 past due on her mortgage and in active foreclosure, but we helped her get a final loan modification with partial claim that allows her to keep her home and avoid foreclosure!
Florida Attorney General Pam Bondi has announced that a settlement was reached with Nationstar Mortgage, doing business as Mr. Cooper, that “resolves allegations regarding Mr. Cooper’s servicing misconduct in the aftermath of Hurricane Irma.”
(If you're in foreclosure, or being threatened with foreclosure after a hurricane, contact our firm for a free Hurricane Hardship Review.)
Mr. Cooper/Nationstar is a mortgage lender and servicer based in Texas which services mortgages nationwide. Their misconduct related to Hurricane Irma is similar to stories we've heard from homeowners with loans serviced by many servicers after the hurricane. It goes like this:
A mortgage servicer tells a homeowner that they can postpone 3-6 months of mortgage payments to recover from the financial impact of Hurricane Irma.
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 Mr. Cooper, CitiMortgage, and Home Loan Investment Bank:
Almost 5 years (57 months) and $37,748.23 past due on their mortgage, we helped our Mr. Cooper clients get a final FHA loan modification with $23.62 monthly savings and a fresh start!
This holiday season, you may get the gift of delayed foreclosure because courts and banks will be closed some days around Christmas and New Year's.
Foreclosure sale dates often aren't scheduled by courts for the end December to account for the days they will be closed.
The closures will also temporarily disrupt progress on moving a foreclosure case toward a sale.
That's means that you may have slightly more time in your home than if your foreclosure case was moving forward at another time of the year.
It's possible to have some delays in your foreclosure case just because of the courts being closed. But there are also some actions being taken specifically to help families stay in their homes during the holidays.
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 Lakeview Loan Servicing, Gregory Funding, and HSBC:
In foreclosure and 22 months and $52,535 +fees past due on their mortgage, we helped our Lakeview Loan Servicing clients get a final FHA Partial Claim modification with $106.81 cheaper monthly payment and a fresh start!
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.
