Comments on: Loan Modification Help: Get Your Loan Modification Approved http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Tue, 16 Feb 2010 11:37:31 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: Seraya http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/comment-page-1/#comment-72779 Seraya Wed, 05 Aug 2009 11:38:17 +0000 http://blownmortgage.com/?p=2136#comment-72779 Hello, me too i have 2 loans with the lender, the lender want to charge me for the 2 loans, and he is raising his commissions , and also he sent me on top of this a fee in a letter for $700.00<br>my concern is why does he charge me for each loan separately + an additional fee so i will have 3 fees, and he is telling me that his commission now have increase.<br>Having a low income now .. having a deficit each month... but I am still current with my payements... I am scare to lose everything... and my income is so limited,<br>I have no trust in my lender at all... Iam with Imact who have my notes.. I was from countrywide but Impact had my notes.<br>Please forgive my english I am from France if this is not perfect..<br>Thank you so much<br>Sonia Hello, me too i have 2 loans with the lender, the lender want to charge me for the 2 loans, and he is raising his commissions , and also he sent me on top of this a fee in a letter for $700.00
my concern is why does he charge me for each loan separately + an additional fee so i will have 3 fees, and he is telling me that his commission now have increase.
Having a low income now .. having a deficit each month… but I am still current with my payements… I am scare to lose everything… and my income is so limited,
I have no trust in my lender at all… Iam with Imact who have my notes.. I was from countrywide but Impact had my notes.
Please forgive my english I am from France if this is not perfect..
Thank you so much
Sonia

]]> By: gretap http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/comment-page-1/#comment-70645 gretap Wed, 01 Jul 2009 14:26:53 +0000 http://blownmortgage.com/?p=2136#comment-70645 Hi there- unfortunately, I have already sent my lender my F/S before I found you. I expect my lender to re-open my loan mod file and begin the loan mod negotiation with them. In my f/s submission, I did not include my desired monthly mortgage amount which you suggested because the f/s form came from my lender and specifically asked for me to include our expenses towards food, gas, car insurance, cell phones, etc. - I had to include them in my monthly expenses. However, my declaration of expenses were lower than our current income and makes room for a modified mortgage budget. I made sure that our debt to income ratio not including mortgage allows 30% to be budgeted for mortgage- in short, our expenses is 40% of our income. I hope this is good enough. <br><br>I have mentioned above that I am hoping for my lender to re-open our loan mod file. Here's what happened- Back in April, I sent them all the docs they where asking except for one. The next thing I found out just last week was that we were scheduled for auction on 7/17. They failed to communicate to us that they closed our file due to the missing doc until I called last week. Yesterday, I sent them the missing doc. I asking loss mitigation to re-open our file and cancel the auction slated on 7/17. I also found out that they are not the lender of my loan but they service my loan. Apparently, they sold our loan to another financial institution. My question is should I be dealing and negotiating with the 3rd party or should i be dealing directly with the owner of my loan which is the lender? BTW, I called the lender and they could not find our loan. Where should I start? should I ask for a copy of of the deed we signed? should we file papers in the court in order to stop the proceedings? what is our defense? should we do it ourselves or should we hire? I have been looking around as to who can help but afraid to hire anyone. We are obviously under the gun. I also feel I need help in the negotiation part. FYI, I was laid off from my job 2 years ago because of a medical condition, hence, we lost half of our income. <br><br>Please HELP!! Thanks a million. Hi there- unfortunately, I have already sent my lender my F/S before I found you. I expect my lender to re-open my loan mod file and begin the loan mod negotiation with them. In my f/s submission, I did not include my desired monthly mortgage amount which you suggested because the f/s form came from my lender and specifically asked for me to include our expenses towards food, gas, car insurance, cell phones, etc. – I had to include them in my monthly expenses. However, my declaration of expenses were lower than our current income and makes room for a modified mortgage budget. I made sure that our debt to income ratio not including mortgage allows 30% to be budgeted for mortgage- in short, our expenses is 40% of our income. I hope this is good enough.

I have mentioned above that I am hoping for my lender to re-open our loan mod file. Here's what happened- Back in April, I sent them all the docs they where asking except for one. The next thing I found out just last week was that we were scheduled for auction on 7/17. They failed to communicate to us that they closed our file due to the missing doc until I called last week. Yesterday, I sent them the missing doc. I asking loss mitigation to re-open our file and cancel the auction slated on 7/17. I also found out that they are not the lender of my loan but they service my loan. Apparently, they sold our loan to another financial institution. My question is should I be dealing and negotiating with the 3rd party or should i be dealing directly with the owner of my loan which is the lender? BTW, I called the lender and they could not find our loan. Where should I start? should I ask for a copy of of the deed we signed? should we file papers in the court in order to stop the proceedings? what is our defense? should we do it ourselves or should we hire? I have been looking around as to who can help but afraid to hire anyone. We are obviously under the gun. I also feel I need help in the negotiation part. FYI, I was laid off from my job 2 years ago because of a medical condition, hence, we lost half of our income.

Please HELP!! Thanks a million.

]]> By: loanmodificationzoom http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/comment-page-1/#comment-64798 loanmodificationzoom Fri, 08 May 2009 14:58:25 +0000 http://blownmortgage.com/?p=2136#comment-64798 Guidelines are becoming more standardized it seems at least among the remaining larger lenders, with most either conforming to Making Home Affordable, or FDIC's Mod-in-a-Box Guidelines, or some close variation thereof. Morgan, you provide great advice for homeowners, and I think that now more than ever homeowners are going to finally be able to have a higher success rate in doing loan modifications themselves. If you're a homeowner that is curious as to whether or not your lender will do your loan modification, look up NPV test -- this can help you calculate and weigh the cost of the modification for the bank vs the cost of foreclosure. If it costs less to do the modification, after accounting for re-default rate and the current Freddie Mac weekly indexed rate, as well as a few other factors including duration on the market, legal fees, et. al., then your modification most likely will be approved, provided you fit the DTI and net cash flow requirements. Best of luck to all! Guidelines are becoming more standardized it seems at least among the remaining larger lenders, with most either conforming to Making Home Affordable, or FDIC's Mod-in-a-Box Guidelines, or some close variation thereof. Morgan, you provide great advice for homeowners, and I think that now more than ever homeowners are going to finally be able to have a higher success rate in doing loan modifications themselves. If you're a homeowner that is curious as to whether or not your lender will do your loan modification, look up NPV test — this can help you calculate and weigh the cost of the modification for the bank vs the cost of foreclosure. If it costs less to do the modification, after accounting for re-default rate and the current Freddie Mac weekly indexed rate, as well as a few other factors including duration on the market, legal fees, et. al., then your modification most likely will be approved, provided you fit the DTI and net cash flow requirements. Best of luck to all!

]]> By: shar http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/comment-page-1/#comment-63419 shar Sun, 03 May 2009 09:44:55 +0000 http://blownmortgage.com/?p=2136#comment-63419 I assumed they did all verifications of employment and were satisfied with the results. I know that they called my work on the day of closing so I assumed that they called his as well. We already closed and they paid off our previous loan. I really don't know where we stand now. I assumed they did all verifications of employment and were satisfied with the results. I know that they called my work on the day of closing so I assumed that they called his as well. We already closed and they paid off our previous loan. I really don't know where we stand now.

]]> By: morganb http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/comment-page-1/#comment-63412 morganb Sun, 03 May 2009 02:50:10 +0000 http://blownmortgage.com/?p=2136#comment-63412 Hi Shar,<br>They could reject it. It sounds like a verification of employment was a<br>funding condition - the last of the conditions needed to push the loan<br>through. Depending on your situation they may be able to do the<br>verification of employment again; or your broker may need to submit your<br>loan to a new bank when your husband is working again.<br><br>Verifications of employment are usually almost always required at closing.<br> Did your broker inform you that this would need to be completed to close<br>the loan? Hi Shar,
They could reject it. It sounds like a verification of employment was a
funding condition – the last of the conditions needed to push the loan
through. Depending on your situation they may be able to do the
verification of employment again; or your broker may need to submit your
loan to a new bank when your husband is working again.

Verifications of employment are usually almost always required at closing.
Did your broker inform you that this would need to be completed to close
the loan?

]]> By: shar http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/comment-page-1/#comment-63378 shar Sat, 02 May 2009 12:08:10 +0000 http://blownmortgage.com/?p=2136#comment-63378 I have a question. We just closed on a refi 4/17/09. The other loan was paid off 4/24/09 and I'm supposed to be with a new bank. In the interim my husband was told by his boss to "stay home" for a week or two while they were waiting for a job to be ready (construction). Yesterday my broker called me and said that my new bank was unable to verify my husband's employment and when they called his employer they said that he was temporarily laid off and entitled to unemployment (which we just began collecting) but that he will be called back at some point - they don't know when. Can they bank reject our loan now? I have a question. We just closed on a refi 4/17/09. The other loan was paid off 4/24/09 and I'm supposed to be with a new bank. In the interim my husband was told by his boss to “stay home” for a week or two while they were waiting for a job to be ready (construction). Yesterday my broker called me and said that my new bank was unable to verify my husband's employment and when they called his employer they said that he was temporarily laid off and entitled to unemployment (which we just began collecting) but that he will be called back at some point – they don't know when. Can they bank reject our loan now?

]]> By: LoanModificationSoftware http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/comment-page-1/#comment-41386 LoanModificationSoftware Thu, 02 Apr 2009 20:38:22 +0000 http://blownmortgage.com/?p=2136#comment-41386 There is some great new Do It Yourself software on the market for consumers. The software is web-based and retails for $595. The license is good for 1 year. If the consumer gets their loan mod declined from their lender in the first 90 days after purchasing the license, they are entitled to a $500 refund. (primary residence, owner occupied only)<br><br>It also comes with an 85 page e-book that walks the homeowner completely through the process. The ebook also contains all of the necessary forms. The book should be read first before using the software. The software calculates all of the users inputted data in real time and then offers suggestions to bring their numbers into alignment.<br><br>Each section of the software gives the homeowner a success probabilty, calculated as a percentage, of obtaining a successful modification. Each sections individual success percentages are then tallied to give the homeowner a final success probability. The software also helps write the hardship letter, all required forms and a fax cover to be sent to the lender.<br><br>The software was written and designed by the 5 principals living and working in the Phoenix metro area. They are all in the financial planning arena including; mortgage brokers, real estate brokers and they run their own successful loan mod company.<br><br>Individual and commercial licenses are available. Individuals are $595 and my most recent information on commercial licenses is $2995 and $95 per use.<br><br>To get the software for the $595 instead of $795 homeowners need to use a coupon code of M1993. The main site can be viewed at <a href="http://www.m1993.loanmodexposed.com" rel="nofollow">http://www.m1993.loanmodexposed.com</a> or they can visit this reseller site at <a href="http://www.loan-modification-software.net/" rel="nofollow">http://www.loan-modification-software.net/</a> To help spread the word, the owners are offering a very generous compensation plan to resellers. It's great software and may be exactly what homeowners need and are looking for. There is some great new Do It Yourself software on the market for consumers. The software is web-based and retails for $595. The license is good for 1 year. If the consumer gets their loan mod declined from their lender in the first 90 days after purchasing the license, they are entitled to a $500 refund. (primary residence, owner occupied only)

It also comes with an 85 page e-book that walks the homeowner completely through the process. The ebook also contains all of the necessary forms. The book should be read first before using the software. The software calculates all of the users inputted data in real time and then offers suggestions to bring their numbers into alignment.

Each section of the software gives the homeowner a success probabilty, calculated as a percentage, of obtaining a successful modification. Each sections individual success percentages are then tallied to give the homeowner a final success probability. The software also helps write the hardship letter, all required forms and a fax cover to be sent to the lender.

The software was written and designed by the 5 principals living and working in the Phoenix metro area. They are all in the financial planning arena including; mortgage brokers, real estate brokers and they run their own successful loan mod company.

Individual and commercial licenses are available. Individuals are $595 and my most recent information on commercial licenses is $2995 and $95 per use.

To get the software for the $595 instead of $795 homeowners need to use a coupon code of M1993. The main site can be viewed at http://www.m1993.loanmodexposed.com or they can visit this reseller site at http://www.loan-modification-software.net/ To help spread the word, the owners are offering a very generous compensation plan to resellers. It's great software and may be exactly what homeowners need and are looking for.

]]> By: Aaron Miller http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/comment-page-1/#comment-40400 Aaron Miller Thu, 02 Apr 2009 17:17:58 +0000 http://blownmortgage.com/?p=2136#comment-40400 Attorney Directed Loan Negotiations<br><br>If you are one of the 2.5 millions of Americans that are trapped in an adjustable rate mortgage but cannot refinance due to low credit scores or decreasing home values or financial hardship, we may be able to help you.<br><br>We can effectively FREEZE interest rates, help you STOP foreclosures and in some cases help you reduce principle loan balance through mediation / loan modification services.<br><br>We will work with your current lenders to convince them that helping you will be a good alternative to eventual foreclosure. Assisting you with Loan Modification and Payment Reductions is our #1 priority. Our goal is to negotiate a reasonable payment arrangement with your lenders bringing you current in your existing loan and help to save your home without the expense of a costly refinance.<br><br> * 100% Guaranteed Results!<br> * Process typically complete in under 90 days!<br> * FREEZE and LOWER your Interest Rate!<br> * Reduce your principal balance!<br> * 24/7 On line access to check your status<br> * Personal Client Representative to assist you along the way<br> Due to the economic downturn, the collapse of the lending industry and declining home values hundreds if not thousands of homeowners are stuck in bad mortgages with no way to refinance. Adjustable rate mortgages have crippled the family finances and many homeowners are facing foreclosure or bankruptcy. Our goal is to STOP that from ever happening by renegotiating your current loan and modifying it to better suit your financial needs.<br><br>Loan Modification Services<br>In today's difficult economy there are several things working against homeowners and homeownership in general. Millions of Americans are faced with problems with their current mortgage and are not able to qualify. Many more would love to realize the dream of homeownership but also cannot. We help bridge that gap through either loan modification or credit restoration services. We are here to help you.<br><br>A Loan modification/Workout plan is where the current lender <br>is willing to adjust the note on the mortgage to make it either <br>more attractive or more affordable for the homeowner. <br><br>By keeping the borrowers in the home and avoiding foreclosure,<br>the bank avoids costly foreclosure, attorney and legal fees and <br>avoids putting one more home in their portfolio. <br>Lenders do NOT want to own your home. <br><br>They will only lose more money in the end. <br>It's in their best interest to negotiate with the homeowner to AVOID foreclosure.<br><br>Our trained specialist are here to assist you every step of the way. <br>We handle the all negotiations, work through all the necessary <br>paperwork and fight to get you the most affordable resolution. <br>Our goal is to help you not only keep your home but to make the <br>terms of your current mortgage more affordable. <br> <br>We are here to help you!<br>MORTGAGE FRAUD MAY MAKE YOUR MORTGAGE LEGALLY VOID<br><br>Because of the mortgage industry's carelessness, haste, and downright fraud in recent years, an estimated 85% of all mortgages are legally unenforceable. You already know from the news that during the refinancing craze and the real estate boom over the last decade, lenders were shoveling mortgages out the door as fast as they could.<br><br>Predatory lending filled some mortgages with unlawful terms or details that consumers didn’t understand. Many mortgages are filled with errors, legally invalid, and sometimes unenforceable. Lenders and mortgage brokers violate Truth In Lending Act (”TILA”) and the Real Estate Settlement Procedures Act (”RESPA”) daily. Some subprime or normal loans can be unconscionable and unfair. Mortgages are routinely sold multiple times, often too quickly and without proper documentation, leading to a greater legal mess.<br><br>Consider that in recent years the mortgage lifecycle. From the person who took the application to the person that closed the loan. There were a lot of people under a lot of pressure to do a lot of things they shouldn't have. Instead of thinking defensive about your loan, start thinking on the Offense!!<br> <br>Here are just some of the things that we are looking for:<br><br> <br><br>NEGLIGENT MISREPRESENTATION<br>When a mortgage professional makes errors which a reasonably diligent mortgage professional would not have made, he or she may have made a negligent misrepresentation. (stated, NIV), this could benefit your case.<br><br>BREACH OF CONTRACT<br>The note and its attachments are a contract. The lender ker must follow all the terms of the contract such as the way the interest is calculated, and the penalties it assesses. Were there any terms in the contract which the lender failed to follow?<br><br>CONSTRUCTIVE FRAUD<br>Material facts include the terms of the loan, whether there is a prepayment penalty, or any other information which a reasonable borrower would want to know before accepting the loan. Did the lender or underwriter or anyone working for the lender fail to disclose any material facts to the borrower?<br><br><br>FRAUD AND NEGLIGENT MISREPRESENTATION<br>Were any representations, statements, or comments, written or oral made by the loan officer, broker, notary or anyone else which contradicted the terms of the documents?<br>Once we find violations in your closing documents, you then will have your ammunition to present to your lender to encourage them to approve your request for a loan modification. You may be entitled to interest repayment from your lender, monetary damages, reduction in principle balance and more!! Fight back with a Forensic Audit!<br> <br>Consider the Recovery and Stability act of 2009.<br><br>Miillions!!! are now waiting in line to speak to their lenders seeking relief.<br><br>Sick of waiting on the line for months to hear back from your lender?<br><br>If so, make some noise and consider a forensic audit on your loan documents.<br><br>Skip to the front of the line!!<br><br>Our Forensic Audits are completed by our chielf compliance officer who came to work here from one of the top 5 lenders in the country. Over 20 years experience in auditing loan documents!!<br>All reviews are ALSO completed under the close direction and supervision of a Staff Attorney.<br><br>Don’t attempt a loan modification without it.<br><br>You could wait months to speak to your lender, you only get one chance to get it right.<br><br>The best chance to save your house is step #1....<br><br>A Forensic Mortgage Audit.<br>please reply to <a href="mailto:info@myloandoctor.net" rel="nofollow">info@myloandoctor.net</a> Attorney Directed Loan Negotiations

If you are one of the 2.5 millions of Americans that are trapped in an adjustable rate mortgage but cannot refinance due to low credit scores or decreasing home values or financial hardship, we may be able to help you.

We can effectively FREEZE interest rates, help you STOP foreclosures and in some cases help you reduce principle loan balance through mediation / loan modification services.

We will work with your current lenders to convince them that helping you will be a good alternative to eventual foreclosure. Assisting you with Loan Modification and Payment Reductions is our #1 priority. Our goal is to negotiate a reasonable payment arrangement with your lenders bringing you current in your existing loan and help to save your home without the expense of a costly refinance.

* 100% Guaranteed Results!
* Process typically complete in under 90 days!
* FREEZE and LOWER your Interest Rate!
* Reduce your principal balance!
* 24/7 On line access to check your status
* Personal Client Representative to assist you along the way
Due to the economic downturn, the collapse of the lending industry and declining home values hundreds if not thousands of homeowners are stuck in bad mortgages with no way to refinance. Adjustable rate mortgages have crippled the family finances and many homeowners are facing foreclosure or bankruptcy. Our goal is to STOP that from ever happening by renegotiating your current loan and modifying it to better suit your financial needs.

Loan Modification Services
In today's difficult economy there are several things working against homeowners and homeownership in general. Millions of Americans are faced with problems with their current mortgage and are not able to qualify. Many more would love to realize the dream of homeownership but also cannot. We help bridge that gap through either loan modification or credit restoration services. We are here to help you.

A Loan modification/Workout plan is where the current lender
is willing to adjust the note on the mortgage to make it either
more attractive or more affordable for the homeowner.

By keeping the borrowers in the home and avoiding foreclosure,
the bank avoids costly foreclosure, attorney and legal fees and
avoids putting one more home in their portfolio.
Lenders do NOT want to own your home.

They will only lose more money in the end.
It's in their best interest to negotiate with the homeowner to AVOID foreclosure.

Our trained specialist are here to assist you every step of the way.
We handle the all negotiations, work through all the necessary
paperwork and fight to get you the most affordable resolution.
Our goal is to help you not only keep your home but to make the
terms of your current mortgage more affordable.

We are here to help you!
MORTGAGE FRAUD MAY MAKE YOUR MORTGAGE LEGALLY VOID

Because of the mortgage industry's carelessness, haste, and downright fraud in recent years, an estimated 85% of all mortgages are legally unenforceable. You already know from the news that during the refinancing craze and the real estate boom over the last decade, lenders were shoveling mortgages out the door as fast as they could.

Predatory lending filled some mortgages with unlawful terms or details that consumers didn’t understand. Many mortgages are filled with errors, legally invalid, and sometimes unenforceable. Lenders and mortgage brokers violate Truth In Lending Act (”TILA”) and the Real Estate Settlement Procedures Act (”RESPA”) daily. Some subprime or normal loans can be unconscionable and unfair. Mortgages are routinely sold multiple times, often too quickly and without proper documentation, leading to a greater legal mess.

Consider that in recent years the mortgage lifecycle. From the person who took the application to the person that closed the loan. There were a lot of people under a lot of pressure to do a lot of things they shouldn't have. Instead of thinking defensive about your loan, start thinking on the Offense!!

Here are just some of the things that we are looking for:

NEGLIGENT MISREPRESENTATION
When a mortgage professional makes errors which a reasonably diligent mortgage professional would not have made, he or she may have made a negligent misrepresentation. (stated, NIV), this could benefit your case.

BREACH OF CONTRACT
The note and its attachments are a contract. The lender ker must follow all the terms of the contract such as the way the interest is calculated, and the penalties it assesses. Were there any terms in the contract which the lender failed to follow?

CONSTRUCTIVE FRAUD
Material facts include the terms of the loan, whether there is a prepayment penalty, or any other information which a reasonable borrower would want to know before accepting the loan. Did the lender or underwriter or anyone working for the lender fail to disclose any material facts to the borrower?

FRAUD AND NEGLIGENT MISREPRESENTATION
Were any representations, statements, or comments, written or oral made by the loan officer, broker, notary or anyone else which contradicted the terms of the documents?
Once we find violations in your closing documents, you then will have your ammunition to present to your lender to encourage them to approve your request for a loan modification. You may be entitled to interest repayment from your lender, monetary damages, reduction in principle balance and more!! Fight back with a Forensic Audit!

Consider the Recovery and Stability act of 2009.

Miillions!!! are now waiting in line to speak to their lenders seeking relief.

Sick of waiting on the line for months to hear back from your lender?

If so, make some noise and consider a forensic audit on your loan documents.

Skip to the front of the line!!

Our Forensic Audits are completed by our chielf compliance officer who came to work here from one of the top 5 lenders in the country. Over 20 years experience in auditing loan documents!!
All reviews are ALSO completed under the close direction and supervision of a Staff Attorney.

Don’t attempt a loan modification without it.

You could wait months to speak to your lender, you only get one chance to get it right.

The best chance to save your house is step #1….

A Forensic Mortgage Audit.
please reply to info@myloandoctor.net

]]> By: morganb http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/comment-page-1/#comment-40401 morganb Thu, 02 Apr 2009 15:15:24 +0000 http://blownmortgage.com/?p=2136#comment-40401 Most modifications are for a five year period. Most modifications are for a five year period.

]]> By: connie http://blownmortgage.com/2009/01/22/loan-modification-help-get-your-loan-modification-approved/comment-page-1/#comment-39024 connie Tue, 31 Mar 2009 23:01:21 +0000 http://blownmortgage.com/?p=2136#comment-39024 Do we assume that this will be for the life of the loan or for only a few years? Do we assume that this will be for the life of the loan or for only a few years?

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