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, which include results from Bank of America, SLS, and Freedom Mortgage:
A whopping 6 years and $145,723 behind on mortgage with Bank of America, our client was approved for an FHA HAMP trial plan with a fresh start.
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, which include results from Chase, Wells Fargo, and Ocwen:
Past due on mortgage payments to Chase, our client is approved for a streamline loan modification with $252 monthly savings, lower interest rate!
Nothing worth having is given away. When you want something of value, it usually takes some work to get it. So when you apply for a home-saving loan modification to avoid foreclosure and have a lower mortgage payment, don't expect the process to be easy.
To get a loan modification, which is a permanent change to one or more of the terms of a mortgage, you have to complete a request for mortgage assistance (RMA). It's a thorough application requiring documentation of income, a debt to income ratio, a hardship affidavit, and more.
The loan modification application must be filed with your loan servicer, and one of the largest mortgage servicers in the country is Ocwen Financial Corporation. Although Ocwen actually has a reputation as one of the better loan servicers to work with when trying to get a loan mod, it's still challenging.
Here are some common complaints of homeowners trying to work with Ocwen for a loan modification:
Your mortgage is more complex than it appears. While you typically only deal with your servicer, which takes your payments, credits your account, and forecloses if you default, there's another party involved in your mortgage loan.
This other party, although usually invisible to you, has the biggest stake in your mortgage. I'm talking about the investor. They're the “end user” of your mortgage. They own it and earn a profit from the interest you pay them.
Many homeowners only learn about the existence of an investor in their mortgage when they experience a hardship, can't pay their mortgage, and their servicer tells them that their investor won't allow them to get a 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.
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, which include results from Ditech, Ocwen, and Bayview:
Our Ditech client was in foreclosure after falling three years and $47k behind on his mortgage, but now he has a loan modification with a $591 lower monthly mortgage payment!
If you're considering hiring an attorney to help you avoid foreclosure and/or get a loan modification, you may be wondering what specifically an attorney will do to help you keep your home. You know your mortgage issues are too important to try to handle alone, but how exactly does an attorney help?
Do they just show up in court and say something in Latin “Your honor, the corpus juris, et cetera, entitle my client to keep their house. Also, carpe diem, and liberum domum (free house), please.”
Of course not. So what does an attorney actually do when you hire them to defend you from foreclosure and assist you in getting a loan modification?
Hooray! Trial loan modification approved for our client who was more than a year behind on mortgage payments to Wells Fargo.
Success! Our Nationstar client was approved for a 3 month streamline trial modification plan with $104 monthly savings on mortgage payment and a lower interest rate.
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 May of 2014 a homeowner in Sullivan County, New York, that I'll call Mr. Goulet to protect his privacy, retained our firm to help him avoid foreclosure. He hadn't been served with a foreclosure lawsuit when he retained us, but knew it was coming, and wisely sought help from experienced professionals.
Mr. Goulet is a successful business owner. Things had been going well for him until Superstorm Sandy tore through the region in late 2012 and damaged his home. (Sandy caused about $75 billion in damage, which is second only to Hurricane Katrina.)
He moved out of his home, over the state line into New Jersey, while the damage caused by Sandy was being repaired.
If you're having trouble with your mortgage, you've probably heard about loan modifications. Modifying a mortgage loan involves making a permanent change to one or more of its terms. The interest rate can be lowered, the term can be extended, and principal and fees can be reduced.
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, which include results from Bayview, US Bank, Seterus, and SunTrust:
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.
