Foreclosure and Loan Modification Blog (25)

Successful Loan Modification Roundup Week of 12/16

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 Caliber, Ditech, and Carrington:

Caliber

Our Caliber client was $55,751 past due on mortgage and in active foreclosure, now has a permanent mod with low fixed 2% interest rate for 40 years!

Florida Supreme Court Ruling Could Increase Foreclosures In State

The Florida Supreme Court has issued a ruling that could increase the number of foreclosure actions brought against homeowners in the state.

According to the Florida Bar News, as a result of the state Supreme Court's November 3 ruling,“Lenders who have had a foreclosure suit dismissed can bring new action if the borrower continues to default after the dismissal and the case is brought within five years of nonpayment.”

The ruling had to do with the statute of limitations provision in Florida that says foreclosure on a mortgage has to be brought within five years of the borrower defaulting on payments.

How To Tell If You Can Save Your Home From Foreclosure

When you take out a mortgage to buy a home, your plan is to never miss a payment and live in the house until you pay off the mortgage or sell the property to buy another home. So what happens when the plan goes awry and you miss payments? You're at risk of losing your home to foreclosure, obviously.

However, foreclosure doesn't happen like flipping a light switch. In judicial foreclosure states the foreclosure process is long and filled with legal procedures that most homeowners aren't familiar with and don't understand.

It can be hard to tell when you're fighting for a lost cause, and when you should keep fighting, and how. Here's a look at some of the things that happen, and how to tell if you could still keep your home when they happen.

Successful Loan Modification Roundup Week of 12/9

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.

Wells Fargo

More than five years and $80k past due to Wells Fargo with a sale date set, our client now has a 3 month in-house trial loan modification with 1.25% lower interest rate and sale date on hold.

What Is a Notice of Acceleration?

Have you recieved a Notice of Acceleration from your lender?

It could also be called a Notice of Intent to Accelerate, Acceleration Notice, Demand Letter, Default Letter, Notice of Default or even Notice of Default and Acceleration.

What does it mean?

In contract law, an acceleration clause is a “term that fully matures the performance due from a party upon a breach of the contract.”

For mortgages that have an acceleration clause (most do), that means that, after breaching your contract by missing payments, your lender can demand that you either pay off the entire balance of your mortgage or be foreclosed upon.

[fa icon="clock-o"] Wednesday, December 7, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, foreclosure defense

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.

Caliber

19 months and $60,778 past due on mortgage payments to Caliber, our client now has a final loan modification with $91.24 cheaper monthly payment.

Does Your Bank Have the Standing to Foreclose on Your Home?

In judicial foreclosure states (such as Illinois, Florida, Pennsylvania, New York, and New Jersey), your lender is required to go through the courts to foreclose on your property. They become the plaintiff and you become the defendant in a foreclosure lawsuit.

The plaintiff must prove to the court that they are the party in interest that's legally entitled to foreclose on your home. That, in legal terminology, is called standing.

Standing is very important, and the plaintiff must have it at the time they file a foreclosure action against you. If they don't, your attorney may file a motion to dismiss the action because of it.

[fa icon="clock-o"] Tuesday, November 29, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure defense, florida foreclosure laws, 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.

SLS

Yes! Our SLS client was in active foreclosure with a sale date set after falling $234,020 past due on their mortgage. Now they have a trial HAMP II trial modification plan with $719 savings a month!

[fa icon="clock-o"] Friday, November 25, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, successful loan modifications, sls 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 is one of their stories.

In 2014 we were retained by a homeowner in New Jersey who hadn't paid her mortgage to Ocwen since 2009, and had been in foreclosure since 2010. I'll call her Diana to protect her privacy.

Diana was a staggering $185,000 past due on her mortgage. She had a good job, but a lot of bills besides her mortgage to pay each month, and Ocwen didn't think she could afford to keep her home.

Diana wanted to keep her home, but was worried that she would lose it to foreclosure, and that she and her young child would have to find somewhere else to live.

[fa icon="clock-o"] Wednesday, November 23, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, successful loan modifications, ocwen loan modification

Many homeowners haven't paid their mortgage in many months or even years. They fight foreclosure and look for a way to keep their home. After a lot of work, some get approved for a loan modification which returns their loan to normal. Foreclosure disaster averted. Hooray!

But there's one minor problem with getting your loan back to normal: you have to actually start paying a mortgage again. What the heck?

I know, bills are terrible, but getting a free house is not a realistic possibility. Keeping your home after falling behind on payments by getting a loan modification is the best result, and one that millions of homeowners in recent years wanted to achieve and couldn't. (Seven million Americans have been in foreclosure since the recession began.)

[fa icon="clock-o"] Monday, November 21, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, foreclosure defense, life after foreclosure

Foreclosure and Loan Modification Blog

Successful Loan Modification Roundup Week of 12/16

Caliber

Florida Supreme Court Ruling Could Increase Foreclosures In State

How To Tell If You Can Save Your Home From Foreclosure

Successful Loan Modification Roundup Week of 12/9

Wells Fargo

What Is a Notice of Acceleration?

Successful Loan Modification Roundup Week of 12/2

Caliber

Does Your Bank Have the Standing to Foreclose on Your Home?

Successful Loan Modification Roundup Week of 11/25

SLS

Ocwen Loan Modification Success for Our New Jersey Client

Avoiding Payment Shock After Getting a Loan Modification

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