Foreclosure and Loan Modification Blog (31)

Homeowner's Property Saved From Foreclosure Sale at Last Minute

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 January of 2016 we were hired by a Florida homeowner to help him avoid becoming a former homeowner. Let's call him Mr. Cohen to protect his privacy. Mr. Cohen definitely needed the help of an experienced foreclosure defense attorney. After falling behind on his mortgage his home was scheduled to be sold at a foreclosure auction on April 13th, so we immediately got to work to stop the sale and find a permanent solution.

Applying For a Loan Modification

We rushed to submit a Request for Modification Assistance (RMA) to Rushmore Servicing, Mr. Cohen's loan servicer, that would permanently modify his mortgage loan and return it to normal servicing if accepted.

Canceling the Foreclosure Sale

As the April sale date approached the RMA had not been reviewed by the bank, so we filed a motion with the court to cancel the foreclosure sale. The motion was granted and the April sale date was canceled and rescheduled for June 14.

[fa icon="clock-o"] Thursday, July 14, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, successful loan modifications, foreclosure defense

U.S. foreclosure filings were slightly lower in May of 2016 compared to April, according to real estate data company RealtyTrac. There were 100,841 properties with foreclosure filings in May, which is a 21 percent drop from May of 2015. The decrease in foreclosure activity in May is the eighth month in a row with a decrease compared to the same month a year ago.

New Jersey Number One In Country For Foreclosures

New Jersey leads the nation with the highest foreclosure rate of any state. In the Garden State one in every 559 housing units had a foreclosure filing. Maryland was next with one in every 693, followed by Delaware with one in every 716, Florida with one in every 738, and Nevada with one in every 851.

Among the metropolitan areas with at least 200,000 residents, areas in New Jersey take the top two spots for the worst foreclosure rates in the country. In Atlantic City one in every 448 housing units had a foreclosure filing. In Trenton, New Jersey, it's one in 446.

[fa icon="clock-o"] Tuesday, July 12, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure defense, housing market, news

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners.

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 or Facebook. Here are some of the results from this week, which includes results from Wells Fargo and others:

Wells Fargo Loan Modification Success

[fa icon="clock-o"] Friday, July 8, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] wells fargo loan modification, loan modification, successful loan modifications

Many homeowners find that something strange happens when they stop paying their mortgage: nothing much. After missing payments they get letters from their bank telling them that they have to pay up or else lose their home. They don't pay because they can't, but still nothing happens for a long time.

Some homeowners go many years without making a payment, falling behind by tens or hundreds of thousands of dollars, and yet their house isn't sold at a foreclosure auction, the sheriff doesn't tell them to vacate the premises, and they're not thrown to the curb. Sometimes the collections calls even stop!

However, just because nothing seems to happen doesn't mean that the gears of foreclosure aren't turning or that the bank forgot that your loan isn't performing for them. Rest assured that they haven't forgotten about you and the money you owe them.

Successful Loan Modification Roundup Week of 7/1

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners.

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 or Facebook. Here are some of the results from this week including results from Citi, Wells Fargo, HSBC, Greentree, Ocwen, SPS and others:

[fa icon="clock-o"] Friday, July 1, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] successful loan modifications

Behind on your mortgage payment? Need a loan modification to save your home? You should familiarize yourself with waterfalls. And not the type from the 1994 Grammy nominated song 'Waterfalls' by the American recording group TLC.

The waterfalls relevant to you as a homeowner in need of help with your mortgage are related to the federal government's Home Affordable Modification Program, or HAMP.

[fa icon="clock-o"] Thursday, June 30, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, HAMP

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.

Everybody needs help from professionals sometimes. That's especially true for people trying to save their home from foreclosure. Despite many homeowners best efforts, they're not able to get the results they want on their own because they lack the knowledge and experience needed to do so, and the consequences of failure are unacceptable. So they seek outside help.

That's the case with a recent client of ours who retained us to help them avoid foreclosure. To protect their privacy, let's call this couple the Livelys. The Livelys have a home in Bronx County, New York and they fell behind on their mortgage payments in August of 2013.

Solo Loan Modification Attempt

Since they wanted to keep their home, but didn't have the massive amount of cash ($91,251.00) needed to reinstate their loan, the Livelys applied for a loan modification which, if successful, would have gotten their loan back to normal and eliminated the threat of foreclosure. They submitted an RMA (Request for Modification Assistance) to Ocwen, their mortgage loan servicer.

Successful Loan Modification Roundup Week of 6/24

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners.

Donald Trump or Bernie Sanders Presidency Could Be Bad for Home Values, Experts Say

Home values are expected to grow about 3 to 4 percent a year in the coming years according to the panelists in the most recent Zillow Home Price Expectations Survey. Their expectations, however, are less optimistic when considering a Donald Trump or Bernie Sanders presidency.

The survey asked 107 economists, real estate experts, and academics across the nation what they expected from home prices over the next four years and how the election of different candidates would affect their forecast.

45 percent of those surveyed who had an opinion said that the election of presumptive Republican nominee Donald Trump “would impact their expectations for future home value growth either very negatively or somewhat negatively, compared to just 16 percent who said their expectations would be impacted somewhat or very positively.”

[fa icon="clock-o"] Wednesday, June 22, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, loan modification help, housing market

Turn your television to a random basic cable channel and it probably won't be long before a reality show about house flipping comes on. There's Flip This House on A&E, Flip That House on Discovery, Flip or Flop on HGTV, Flip Men on Spike, Flipping Out on Bravo, and many, many others.

Even celebrities are in on the house flipping reality show craze. Snooki from Jersey Shore has a show on FYI called Nicole & Jionni's Shore Flip. And Vanilla Ice has The Vanilla Ice Project on DIY Network.

[fa icon="clock-o"] Monday, June 20, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, life after foreclosure, housing market

Foreclosure and Loan Modification Blog

Homeowner's Property Saved From Foreclosure Sale at Last Minute

Applying For a Loan Modification

Canceling the Foreclosure Sale

Foreclosure Down in May 2016, New Jersey Worst in Country

New Jersey Number One In Country For Foreclosures

Successful Loan Modification Roundup Week of 7/8

Wells Fargo Loan Modification Success

You Could Be In Foreclosure And Not Even Know It

Successful Loan Modification Roundup Week of 7/1

How HAMP Waterfalls Affect Your Loan Modification

Attorney Demands Bank Proves Reason For Denying Loan Modification

Solo Loan Modification Attempt

Successful Loan Modification Roundup Week of 6/24

Donald Trump or Bernie Sanders Presidency Could Be Bad for Home Values, Experts Say

House Flipping Up 20 Percent, Should Snooki and Vanilla Ice Get Credit?

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