September 30, 2015


By Timothy Stull (

The aftermath of the 2008 financial crisis has left a myriad of problems on the foreclosure front. Home owners have been “brain washed” to believe that their lender is looking out for their best interest. The Federal Government has implemented a long series of loan modification programs designed to cure foreclosure crisis. The programs have been a huge failure, largely because cooperation by the banks is voluntary. The denial rates on modification programs exceeds 87% overall, leading ultimately to foreclosure for many. Fast rising home values and an improving economy have steered many banks towards denial. Simply put, it is more profitable for the banks to foreclose instead of modify mortgage loans. Consequently, this has led to a huge spike in foreclosures and evictions. Ultimately, if you rely on the bank or lender to look out for your best interest, you are only fooling yourself. Every loan modification case is a long and brutal battle, similar to trench warfare. Without solid representation and a strong foreclosure defense plan, you will lose your home. The new movie release “99 Homes” depicts the grueling, painstaking and nerve racking process families endure during the foreclosure process ~ You really must ask yourself “Can I handle the foreclosure process on my own”? Likely, the answer to that question is “NO” and you truly need someone looking out for your best interests.
Even more alarming are the statistics rising up pertaining to predatory action surrounding loan modifications. Bait and switch tactics, phony trial payment periods and outrageous balloon payments run wild. Certain clauses and innuendos are part of very complex contracts presented to struggling home owners. Ocwen, Nation Star, Seterus, Selene and many other non-bank mortgage servicers are the primary culprits here. Since 99% of home owners don’t understand the tricky language within the contracts presented to them, they get trapped in a worse financial position than when they started ~  To make matters even worse, most of these deceptive contracts are reviewed by non-profit government agencies that are supposed to be on “your side”. Any way you want to look at this, the stakes are high and this is this is the big money collection game. Since money is the root of all evil, the true evil definitely abounds within the banks and mortgage servicers. Though the Federal Government has tried to brainwash you into thinking otherwise, “You deserve an expert in your corner”.

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