Foreclosure and Loan Modification Blog

Don't Miss Out! December 30 Last Chance For HAMP Loan Modification

HAMP, the federal government's mortgage loan modification program, is expiring. Your complete application must be submitted by December 30, 2016 in order to be eligible to participate in the program.

The Home Affordable Modification Program (HAMP) is designed to help homeowners who have experienced a financial hardship, such as loss of income or illness, to get their mortgage back to normal servicing with a lower monthly payment that they can afford long-term.

A lower payment can be achieved by changing the interest rate, extending the term of the loan to as many as 40 years, and/or forgiving or forbearing some of the money owed on the loan.

[fa icon="clock-o"] Wednesday, December 21, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, HAMP, hamp 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 a few of their stories.

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!

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.

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 SLS, Nationstar, Carrington, Caliber, Ocwen, and SPS:

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.

Successful Loan Modification Roundup Week of 11/25

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

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 Carrington, Wells Fargo, Chase, Nationstar, Ocwen, Bank of America, Ditech, Caliber, one forbearance plan with MGC Mortgage, and one deed in lieu of foreclosure agreement:

Wells Fargo

Our Wells Fargo client was $37,238 past due on mortgage following the death of her husband, but we helped her get an FHA HAMP trial loan modification with $158 cheaper payment!

[fa icon="clock-o"] Friday, November 18, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] loan modification, successful loan modifications, ocwen loan modification

Foreclosure and Loan Modification Blog

Don't Miss Out! December 30 Last Chance For HAMP Loan Modification

Successful Loan Modification Roundup Week of 12/16

Caliber

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

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

Successful Loan Modification Roundup Week Of 11/18

Wells Fargo

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