Foreclosure and Loan Modification Blog

Maxwell Swinney

CFPB Issues Monthly Complaint Report, Mortgages Still In Lead

Mortgage loans are the cause of more complaints than any other financial product to the Consumer Financial Protection Bureau (CFPB), according to its Monthly Complaint Report for September 2015.

The CFPB has registered 192,500 mortgage complaints, which account for 27% of the total of 702,900 complaints it has received. More than half of all mortgage complaints are related to issues borrowers encounter when they are unable to pay, including problems with foreclosure and loan modification applications.

[fa icon="clock-o"] Friday, October 9, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure

You can't fix a problem you don't know you have, and foreclosure is a very serious problem indeed. Home loans are valuable investments for a lender, and you can bet that if you stop payment on yours, you will be hearing from them asking you where their money is and if you intend to catch up, and eventually telling you to get out so they can sell the property to someone else.

[fa icon="clock-o"] Wednesday, October 7, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure defense

If your home is underwater (worth less than what you owe on it), and you've tried and failed to modify the terms of your loan or come to another agreement with your lender, you may be wondering if it's wise to continue making payments on the property. Is there a way out?

[fa icon="clock-o"] Monday, October 5, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure defense, strategic default

Few people have been more universally hated throughout history than tax collectors. They take your hard-earned money, but it always seems like too much for what the government they represent provides in return. It's a story as old as civilization. Nobody likes paying taxes.

You Won't Believe Which Celebrities Have Experienced Foreclosure

Americans love to envy the lavish lifestyles of celebrities when they are on top, and to witness their fall from grace. Despite having tremendous wealth and the love and admiration of millions of people, movie stars, musicians, professional athletes, and other famous or infamous people, have found themselves in the same situation as many regular Americans. That is, unable to make their mortgage payments and threatened with foreclosure by the bank.

[fa icon="clock-o"] Wednesday, September 30, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure defense

Foreclosure is a major crisis for the people who experience it. It's something you never thought would happen, otherwise you would not have taken out a mortgage loan. You may feel that you need the help of an attorney, but deciding what type, and who among them you should hire is no easy task.

[fa icon="clock-o"] Monday, September 28, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure defense

Rejection hurts. If you're like many people whose application for a mortgage loan modification has been denied, you don't know what to do. Should you rip the copper pipes out of your house, leave town and start a new life in Mexico, singing songs for loose change in sleepy tequila joints? Before you make that decision, remember that you can reapply for a loan modification.

[fa icon="clock-o"] Friday, September 25, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, mortgage modification

If you're concerned about your mortgage, you may have done a web search for MERS and found that the top results are for Middle East Respiratory Syndrome. That MERS probably isn't worth worrying about if you don't live in the Middle East. But the other MERS, the Mortgage Electronic Registration System, is an important part of the problems surrounding fraudulent foreclosures, robo-signing, and the housing crisis.

The Mortgage Electronic Registration System is an entity created by the real estate financing industry to allow them to transfer mortgages notes privately, avoid paying local registration fees, and allow a market in mortgages to operate effectively. With MERS, the mortgage notes are stored in a privately-held electronic database, not on paper in a public office. Every time a mortgage is bought and sold, MERS makes an electronic record of the transaction. No matter who really owns the note, MERS remains the “legal assignee."

[fa icon="clock-o"] Wednesday, September 23, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure defense

Believe it, or not, your mortgage lender is interested in the hardships you've endured that have led you to seek better terms on your mortgage loan. In fact, if you are facing foreclosure and looking for a loan modification, a letter explaining the hardships you've experienced is required.

[fa icon="clock-o"] Monday, September 21, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, write a hardship letter, hardship letter

Times are tough. The effects of the recession and housing crisis have left you in a less-than-ideal financial situation, and now you're having trouble making your mortgage payments. You may be thinking about trying to get a loan modification to lower your interest rate, or you may be worried that a foreclosure is in your future. You know that if a loan modification is successful, your monthly payments could be reduced to a more manageable level. You also know that your chances of getting a loan modification approved without an attorney are slim, but you don't know if you can afford an attorney.

Alternatively, you may think the result is a forgone conclusion, and that there is no point in paying an attorney to tell you what you already know, that you're going to lose your home.

[fa icon="clock-o"] Friday, September 18, 2015 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] stop foreclosure, foreclosure defense

Foreclosure and Loan Modification Blog

Maxwell Swinney

Recent Posts

CFPB Issues Monthly Complaint Report, Mortgages Still In Lead

How do I find out if I'm in foreclosure?

Is Strategic Default A Good Idea?

Can a Home Be Foreclosed If Property Taxes Are Not Paid?

You Won't Believe Which Celebrities Have Experienced Foreclosure

How to Choose the Best Foreclosure Defense Attorney For You

Can You Reapply for a Loan Modification after Being Denied?

MERS At Center of Fraudulent Foreclosure Problem

Why You Should Write a Loan Modification Hardship Letter

Can You Afford a Lawyer When You Can't Make Your Mortgage Payments?

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