Foreclosure and Loan Modification Blog (44)

How to Stop Debt Collectors from Harassing You

I’m attorney Nick Murado. I sue debt collectors and can fix your credit rating – for FREE!

If you have any debts in collections, you know the types of tactics the debt collector scum are willing to use:

They have no problems insulting you, abusing you, or cursing you out.
They love to call you at work, which can threaten the status of your employment.
They cherish those early morning or late night calls, designed to disorient you and wear down your willpower, hoping you'd just pay them so they would go away and let you sleep.
They relish those times they call your family, your neighbors, or your friends, attempting to convert them into tools of war to be used against you.
They enjoy placing false, fraudulent, or otherwise incorrect information on your credit reports, tanking your credit rating.

[fa icon="clock-o"] Friday, March 6, 2015 [fa icon="user"] Nicholas Murado, Esq. [fa icon="folder-open'] debt collections harassment

When a debt collector calls you, it's important to keep a record of what happened, especially if you think your rights may have been violated.

Consumer law attorneys need, at a minimum, the following information to begin a prosecution of your rights under the FDCPA, FCCPA, or TCPA:

The number that called
The time of the call
The date of the call
The name of the company calling, if known.

Any time a new number calls you, it is important to answer the phone at least once to make sure that a given phone number belongs to the same debt collection company. Once you have this information, you can hang up. Any future calls from that particular phone number can be logged as belonging to that same company.

[fa icon="clock-o"] Tuesday, February 24, 2015 [fa icon="user"] Nicholas Murado, Esq. [fa icon="folder-open'] debt collections harassment

1. Natural Disasters.

Floods, earthquakes, hurricanes, tornadoes, etc. During natural disaster, people will skedaddle from their homes and sometimes they never return.

2. War or Civil Conflict.

Violence, anarchy, etc. In times of war and civil conflict there are lots of people who will just abandon their homes and never ever come back.

[fa icon="clock-o"] Monday, January 19, 2015 [fa icon="user"] Jake Sterling [fa icon="folder-open'] loan modification attorney, loan modification, loan modification help, Abandoned Homes

When it comes to applying for a loan modification, your debt-to-income ratio is really very important. Having the right or wrong DTI ratio can make or break your loan modification. But what is debt to income ratio? Let's dive right in. President Obama's foreclosure prevention plan has it set up so that for your first mortgage, your Front-end debt-to-income ratio can be no more than 31 percent. This basically means that your house payment cannot exceed 31 percent of your gross monthly income. So if for example your monthly mortgage is $1,000, your gross monthly income should be at around $3,230 or more.

There are actually 2 debt-to-income (DTI) ratios to become familiar with:

First there's your Front-end DTI ratio which is based on your house payment. Under the President's plan, the Front-end DTI ratio target of 31 percent only applies to your first mortgage. Other loans taken against your home such as a second mortgage or an equity line of credit are separate and are not a part of your Front-end DTI. Instead, you can calculate these other loans as a part of your Back-end DTI. But wait, what is Back-end DTI? I'm glad you asked!
Besides Front-end DTI, you also have your Back-end DTI ratio which is based on all your monthly debt payments combined. This includes your house payment, credit card payments, auto loan payments.

[fa icon="clock-o"] Wednesday, January 7, 2015 [fa icon="user"] Jake Sterling [fa icon="folder-open'] loan modification, loan modification help

If your loan modification was denied, don't worry: you're not alone. Loan modifications may be one of the hardest things to get approved without the assistance of an experienced attorney. After denial, your next step will depend on the reason why you were denied and where your home is in the foreclosure process.

[fa icon="clock-o"] Saturday, January 3, 2015 [fa icon="user"] Jake Sterling [fa icon="folder-open'] loan modification denied, loan modification attorney, loan modification, loan modification help

As the second largest bank in the United States based on total assets, Bank of America has become a staple in nearly every home. More so, Bank of America has been an integral factor in the financing of millions of mortgages across the U.S. With such a considerable level of relevance in home mortgages, it's easy to assume that BOA is the shining symbol of excellence. However, Bank of America has consistently been amid a whirlwind of mortgage lawsuits and shady practices over the last few years.

Gregory Nordt and Florida Attorney General Pam Bondi

Amerihope Alliance Legal Services managing attorney Gregory Nordt congratulates Florida Attorney General Pam Bondi who was re-elected to serve a second year term as Florida’s Chief Legal Officer. Attorney General Pam Bondi secured 55% of the vote with more than 5.6 million votes cast in the cabinet race.

[fa icon="clock-o"] Monday, November 24, 2014 [fa icon="user"] Jake Sterling [fa icon="folder-open'] florida foreclosure attorney

Although the number of Americans behind two or more months on their mortgage payments have fallen below the 2 million mark for six consecutive months, an estimated 1.89 million borrowers had serious delinquencies of 60-days+ in August 2014, according to HOPE. It does not matter why you fell behind on your mortgage payments. Unless you negotiate otherwise, you will fall into default on your mortgage loan, which triggers the foreclosure process.

But do you need a lawyer?

[fa icon="clock-o"] Friday, November 21, 2014 [fa icon="user"] Jake Sterling [fa icon="folder-open'] foreclosure defense, florida foreclosure attorney

Massachusetts is a non judicial (technically, “nonjudicial under power of sale in deed of trust") foreclosure state... Uhm, what the heck is that you ask? Oh, just that lenders can take your home without going through court, or any sort of judicial proceeding. Okay and?! AND, say good bye to any extra time you thought you had in your home, because clearly there will be no pending judicial process delaying your foreclosure... I don't mean to a big ole' foreclosure ogre or anything but that's reality peeps, time to embrace the “it is what it is.”

Foreclosure by sale

Otherwise know as, “foreclosure under a deed of trust.” which just so happens to let the lenders sell your precious property through a power of sale (unfair much? after all you two have been through, haha they got you! If you didn't already know, lenders have 0 remorse..). Now I'm sure you want an explanation of how this power of sale BS works. Here it goes.....

[fa icon="clock-o"] Wednesday, September 24, 2014 [fa icon="user"] Jake Sterling [fa icon="folder-open'] stop foreclosure, foreclosure defense, loan modification help, lenders, massachusetts foreclosure lawyer

A few years ago, you bought a terribly overpriced home. To you $375,000 or more for that Spanish-style with a pool seemed totally reasonable at the time (won't blame you, so many others did too!!!).

Now, fast forward a couple/few years, the economy tanked, your positive cash flow probably started to become negative, and then, you realized, “Darn this house is flipping expensive, I can barely keep up.” Until you could really no longer keep up and, bye bye went the house.

You walked away, let the house go into foreclosure, and thought you were wiping your hands clean. I don't need to spell the details out for you, since you probably took a front seat on that ride....

Your bank took back your house, and you thought that's enough, the money left unpaid has been forgiven, (I mean, after everything you just went through? Right?) clean slate, fresh start for you... Well now, that's just a big fat misunderstanding on your part. There is no way that banks will let this one slide. No, they want what they bargained for, which is the $375,000 you signed that dang mortgage for.

How is the lender going to get back the $150,000 (could be more, could be less) that the foreclosure sale couldn't pay off?

They are going to take you to court for it, lawsuit style!

[fa icon="clock-o"] Tuesday, August 19, 2014 [fa icon="user"] Madel Bermudez [fa icon="folder-open'] lenders, foreclosure deficiency, life after foreclosure

Foreclosure and Loan Modification Blog

How to Stop Debt Collectors from Harassing You

What Should You Do When a Debt Collector Calls?

Why Do Houses Become Abandoned? Here Are 5 Reasons

1. Natural Disasters.

2. War or Civil Conflict.

What Is Debt to Income Ratio?

There are actually 2 debt-to-income (DTI) ratios to become familiar with:

What Can You Do If Your Loan Modification Is Denied? [Slideshow]

Top 5 Bank of America Loan Modification Problems

Gregory Nordt and Florida Attorney General Pam Bondi

When Should You Speak with a Foreclosure Attorney?

But do you need a lawyer?

Massachusetts Is a Non-Judicial Foreclosure State, What's That?

Foreclosure by sale

You're Probably Next in Line for a Deficiency Judgment, Here's Why

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