Illinois continues to have one of the highest foreclosure rates in the U.S. Homeowners fall behind on mortgage payments for a variety of reasons, and borrowers are unaware that even if they are unable to make their mortgage payments and falling to foreclosure, they may have an effective defense that can save their home from foreclosure, or, at minimum, buy more time by working with an experienced foreclosure attorney.
Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 5,000 homeowners, here is one of their stories.
Sometimes with our crazy work schedules and other obligations, it almost seems like it would be impossible for us to deal with any additional stress. That's what banks depend on when your home is in foreclosure- taking the necessary steps to get a loan modification on your own is almost a full-time job in itself, which is why homeowners should hire a law firm that works with foreclosure defense and loan modification if they wish to save their homes.
A home loan modification is a process in which the mortgage is modified outside of the original mortgage to new terms and agreements. The resulting mortgage usually results in lower monthly payments, but the new mortgage also commonly has longer terms and potentially higher interest. The overall effect of a loan modification is to make the monthly payments more affordable for the homeowner.
Although home loan modifications are viable solutions, many homeowners choose to pursue their own modification, which results in an unsuccessful home loan modification and the bank foreclosing on the home. On the other hand, the loan modification experts at Amerihope Alliance Legal Services are among the best and most effective in the industry at getting home loan modifications approved.
When you first heard these stories, you probably didn't believe they were true. Whether the stories featured controversial changes to the Florida foreclosure laws, Florida's unbelievable foreclosure timeline, or a slap on the wrist for Florida's Foreclosure King, the three biggest foreclosure stories in Florida in 2013 are, well... as "Florida" as it gets.
From the election to the continued Sandy recovery efforts, 2013 was important for the future of New Jersey. 2014 promises to be an even more vital year for New Jersey's future. While the hot-button topic of last 5 years has been all about how New Jersey has dealt with new foreclosures, the hot-button topic in 2014 will be about how New Jersey deals with the aftereffects of the mortgage crisis.
If New Jersey's people, government, and banks don't make the right choices, then it could spell a worse 2014 and beyond for everyone in the Garden State.
Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 5,000 homeowners, here is one of their stories.
If bad lending and greed made the foundation the foreclosure crisis was built upon, then its two pillars were long-term unemployment and footdragging by the banks. This homeowner and his wife had experienced all of these aspects of the foreclosure crisis, but with our help, they were able to right their lives again and get back on track to a bright financial future.
Millions of Americans are struggling financially. Some are at risk of or are already in foreclosure.
There have always been shady "Fix it Fast" companies that are trying to take advantage of people who need help. Scams can be easy to spot if you are well-informed about today's most common schemes.
1. Foreclosure Rescue Scam
The Foreclosure Rescue Scam usually includes a "counselor" contacting someone in foreclosure and telling them they can help negotiate their loan modification with the bank to stop the foreclosure, all for an upfront preset fee. There are already two problems with that promise:
A trial loan modification is usually the next-to-last step for homeowners who have successfully applied for a loan modification. Lenders give homeowners trial loan modifications to test their ability to pay a mortgage payment under terms that have been optimized to fit a homeowners' financial situation. Trial loan modifications usually last for 3 months, and if all 3 payments are paid in full and on time, then the mortgage lender will begin the process of offering a permanent loan modification.
For most people, a trial loan modification is like a bridge into the "promised land" of financial stability. If they're able to successfully cross over that bridge after fighting to reach it for several months, then their financial lives will be in a much better position than before.
By Barbara Pronin
Identity theft is a serious crime that can wreak havoc with your credit. Preventing it starts with managing your personal information carefully and sensibly. The Federal Trade Commission (FTC) recommends seven simple precautions:
- Carry only essential documents – On any given day, go not carry extra credit cards, your Social Security card, a birth certificate or passport with you outside the house unless they will be needed.
- Keep new checks out of the mail – When ordering new checks, pick them up at the bank, if possible, instead of having them sent to your home.
Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 5,000 homeowners, here is one of their stories.
One of the biggest public misconceptions at the beginnings of the foreclosure crisis was that banks were well-equipped to handle loan modifications. Perhaps even the banks themselves believed this, because it has taken them years to even slightly improve their loan modification processes. The ineptitude of the loan modification departments at major banks has been well-documented, and has resulted in many homeowners losing their homes.
