Foreclosure and Loan Modification Blog (6)

Puppies & Other Things We Are Thankful For [Happy Thanksgiving!]

It's time to give thanks and celebrate! (And eat a lot of turkey and pie, of course.) This Thanksgiving at Amerihope Alliance Legal Services, we asked our staff to answer an anonymous poll that asked one simple question: What are you thankful for? Here are some of the responses:

My parents, my family, my friends, and my health.
I'm thankful for random acts of kindness, and people who are friendly and generous.
I'm thankful for my beautiful mother and daughter, and that everyday I can be thankful for something in my life.
Puppies!
I'm thankful for having and raising two boys that I love and that they aren’t ashamed to show me that they love me, too.
I am thankful for my wonderful friends and coworkers and holidays like Thanksgiving.
I'm thankful that we're able to help our clients

[fa icon="clock-o"] Thursday, November 22, 2018 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] thanksgiving

Sometimes a homeowner will fall behind on their mortgage, but they don't actually lose their home to foreclosure for a long, long time. How long? We've had clients who were in foreclosure for 11 years before their case was resolved!

People who stop paying their mortgage but continue to live in their home for years without anything happening can get used to that. Mistake. While at times it may seem like nothing's going on, the wheels are turning.

Some homeowners forget how serious their situation is, and then they get a notice that their home is scheduled to be sold in a foreclosure auction, and they're shocked and unprepared and have few options available to them.

Remember that when you fall behind on your mortgage, your home will eventually be lost and you and your family will be evicted if you can't resolve your default. Don't let it happen to you!

[fa icon="clock-o"] Wednesday, November 21, 2018 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] foreclosure

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners. Here are some 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 SPS, Home Point Financial, and Selene:

SPS

What an incredible loan mod! 10 months and $11,106 past due on their mortgage, we helped our SPS clients get a 3 month in-house trial loan modification plan with $507.70 cheaper mortgage payment, an amazing 44% monthly savings.

What Does It Mean To Return Your Mortgage To "Normal Servicing"?

If you want to keep your home after falling behind on your mortgage, your goal should be to find a solution, such as a loan modification, that will return your loan to “normal servicing” and allow you to avoid foreclosure.

What Is Loan Servicing

Loan servicing is the process by which a company collects money from a borrower and manages their loan. Your mortgage loan servicer is the company you send your mortgage payments to. They're like an accounts receivable department that collects your payments and distributes the funds to the investor that owns your loan, collecting a fee for themselves in the process.

You have no say in who services your mortgage, and servicing rights can transfer. One month you're making mortgage payments to Cenlar, the next it's to Ocwen. If you don't like it, too bad. You have no say in the matter.

[fa icon="clock-o"] Sunday, November 11, 2018 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, foreclosure, mortgage servicers, normal servicing

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

Ditech

Our Ditech clients were $10,325.25 past due on their mortgage, but we helped them get a three month trial loan modification with the opportunity for a permanent loan mod!

[fa icon="clock-o"] Friday, November 9, 2018 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, sps loan modification, ditech loan modification, loan modification success

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

Ocwen

Check out these incredible savings: Our Ocwen clients were 19 months and $50,148 + fees past due on their mortgage, but we helped them get a 3 month streamline trial loan modification plan with insane $746 lower monthly payment!

Successful Loan Modification Roundup Week of 10/26/18

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

Loan Care

$44,772.03 past due on his mortgage, we helped our Loan Care client get a 3 month trial trial loan modification plan with the opportunity for a permanent mod!

[fa icon="clock-o"] Friday, October 26, 2018 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan care loan modification, loan modification success, chase 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 are some of their stories.

Rushmore

Our Rushmore clients were $58,386.13 past due on their mortgage, but we helped them get a three month streamline trial loan modification plan with $364.13 cheaper monthly payment!

[Foreclosure Q&A] What is a Notice of Default?

A notice of default is a letter sent to a homeowner telling them that they have not made their mortgage payments and that they need to pay for the missed payments, plus fees, in order to avoid foreclosure.

The letter will call making up for the missed payments “curing the default”.

A notice of default is required by law and will usually arrive after three months of missed mortgage payments. It shouldn't be a surprise since you know when you haven't been paying your mortgage and the bank will have been in contact before sending the default letter.

[fa icon="clock-o"] Thursday, October 18, 2018 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] notice of default

If you fall behind on your mortgage payments, and don't come to some sort of resolution with your lender, you're going to end up in foreclosure. The end result of foreclosure is often a public auction.

The foreclosing party is obligated to publicize the auction in advance in local newspapers and online. On the day of the auction, the property will be sold to the highest bidder. That's the goal, anyway. But sometimes there aren't any buyers at the auction willing to pay the minimum price that's been set.

When that happens, the lender will usually take the home back. According to RealtyTrac, in 2016 71.5% of completed auctions in the U.S. resulted in homes going back to the foreclosing lender, and the remaining 28.5% went to a third-party buyer.

[fa icon="clock-o"] Saturday, October 13, 2018 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] auction, foreclosure auction

Foreclosure and Loan Modification Blog

Puppies & Other Things We Are Thankful For [Happy Thanksgiving!]

You Can't Avoid Foreclosure Forever

Successful Loan Modification Roundup Week of 11/16/18

SPS

What Does It Mean To Return Your Mortgage To "Normal Servicing"?

What Is Loan Servicing

Successful Loan Modification Roundup Week of 11/9/18

Ditech

Successful Loan Modification Roundup Week of 11/2/18

Ocwen

Successful Loan Modification Roundup Week of 10/26/18

Loan Care

Successful Loan Modification Roundup Week of 10/19/18

Rushmore

[Foreclosure Q&A] What is a Notice of Default?

What If Your Home Doesn't Sell At Foreclosure Auction?

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