Avoid the pitfalls of “FREE” foreclosure help!

Sunday, April 22nd, 2012

There is an old saying in  in business ~ ” You get what you pay for”.  This credo has been the focal point of many folks important business decisions.  The business of foreclosure prevention / loan restructuring is really no exception to the rule.  The US Government has developed a business model to restructure mortgage loans that […]

Don’t wait for your Foreclosure Number to be called!!

Friday, March 16th, 2012

The facts and statistics don’t lie. Over the last two years many banks have not proceeded with foreclosure activity. The banks basically halted all foreclosure activity due to the looming federal lawsuits that they faced. They halted the the foreclosure train in its tracks. For many homeowners it seemed like a free ride. Lots of […]

Why you need to save your home!!

Tuesday, March 13th, 2012

The current mortgage crisis has been evolving over the last 5 years ~ throughout these years many homeowners have opted to default on their mortgage loans.  The main reason for opting to default links to one main fact – Loss of Equity.  Over 47% of all home owners have lost significant equity in their homes.  […]

Are you serious about saving your home?

Wednesday, February 22nd, 2012

he recent 250 billion dollar settlement pressed on the banks may seem like a great deal on the surface.  However, it has already caused a chain reaction of events that will cause turmoil in the foreclosure market.  Lenders are speeding up the foreclosure process….plain and simple.  The banks are no longer walking on egg shells….waiting […]

THE 25 BILLION DOLLAR MORTGAGE SETTLEMENT. WHAT DOES IT REALLY MEAN FOR YOU?

Tuesday, February 14th, 2012

THE 25 BILLION DOLLAR MORTGAGE SETTLEMENT.  WHAT DOES IT REALLY MEAN FOR YOU? Recent press has disclosed that the US government has reached a paramount settlement with the top 5 US Banks.  However, this 25 billion dollar settlement has a lot of grey area attached within.  Listed below are the important points to understand if you are […]

~~110% Debt to income ratio

Saturday, March 20th, 2010

I heard a discussion forum on this topic last week on CNBC. This is a very critical number ~ 110%. It simply proves that people do not have enough money coming from income to pay back all of their debts. It also means that banks will be very hesitant to pick up lending to consumers […]

~~A man that represents himself has a fool for a client

Friday, March 12th, 2010

I never understood why anyone would want to represent themselves in tough complex scenarios. You are setting yourself up for failure. The emotion mixed in with lack of knowledge is a disaster waiting to happen. Many folks that choose to represent themselves in any loss mitigation / foreclosure prevention case ultimately lose. The bank knows […]

Jobs and a bad credit report!!

Saturday, March 6th, 2010

Landing a new job is tough enough in this economy….a bad credit report only adds fuel to the fire!! The recent “Great Recession” that we have experienced has forced many folks into the the bad credit zone….bankruptcy, foreclosure & late payments are now a common element in today’s society. The state govt agencies have established […]

~~Getting sued after walking away

Sunday, February 28th, 2010

I have a number of clients approaching me with some very serious problems ~ they are getting sued for big $$ ~ big $$ on a house they walked away from 3 years ago. They thought their problems were left behind….when they walked away from the old house….leaving the troubles to the bank. Well now […]

~~Lending falls at an epic pace

Wednesday, February 24th, 2010

The front page of the Wall Street Journal tells the whole story. Everyone is wondering why we are in a jobless recovery. The answer is simple ~ short term credit is not available. Banks and borrowers are at a serious impass….banks just aren’t lending to anyone but the “perfect borrower”. The perfect borrower days are […]

~~Loan mods getting tougher to do every day!!

Thursday, February 18th, 2010

It is like we are turning back the hands of time here. Banks are acting as though “The Great Recession” never occured & the economy is huimming right along. Have they lost their mind? The after math from this economic blow out will take at least 8 years to clear out. The compounded problems that […]

***Predatory lending cases now exposed!!

Sunday, February 14th, 2010

The volume of predatory lending cases that are coming our way is unbelievable. Most of these mortgage loans were originated during the 2007 to 2009 time period….this is when things dried up considerably in the mortgage business….loan officers were scrambling to close business. Retail loan shops were closing loans that did not benefit the borrower […]

~~When will poor credit be the norm?

Wednesday, February 10th, 2010

This is a question that I ponder often. It seems like so many people have fallen through the cracks ~ into bad credit land. The stats show now that the average credit score in the US is a 583….down from 678 4 years ago. This just goes to show you how many folks had artificially […]

~~Are we at the end of a 9 year double dip recession?

Thursday, February 4th, 2010

Everyone has different thoughts about the recent economic fiasco we have been through. It has been labeled “The Great Recession” by many….my thoughts are thoat it was the deep tail spin of a double dip recession that began in Sept 2001. Every remember?? We had just endured the longest stretch of economic expansion of all […]

~~A Sure Bet

Wednesday, February 3rd, 2010

There are few things that I consider to be a sure bet. The bet that the Federal Government is going to stay out of the foreclosure crisis is a a sure one. They spent 75 billion dollars to get get 30,000 loan modifications done….a collosal waste of money….the non for profit groups are screwing up deals […]

~~True Success with Bank of America

Friday, January 29th, 2010

Well B of A is up to their old games again. Refusing to work loan mods deals, twisting numbers & not following through properly. We are currently working a case where the customer clearly qualifies under the HAMP program ~ reducing her payments by 25%. There were various issues involving the dismissal of her Chapter […]

Should people pay a fee to complete a loan mod?

Thursday, January 28th, 2010

This has been a hot topic for some time now. We all hear the stories about the rip offs…..what we don’t hear is the failed mods that turn into lost homes. Lost homes because the person working the case did not have the right experience. Lost homes because the non for profit agent has 1000 […]

Loan Mods Getting Tougher Daily!!

Tuesday, January 26th, 2010

I you received any type of loan mod in 2008 or 2009 ~ consider yourself very lucky. All lenders are getting very tough on loan mod submissions….especially if you are more than 6 months past due. They personally feel that any client more than six months late has abused the system & expected the Obama plan […]

The new battle royal~ Gov’t vs Banks

Saturday, January 23rd, 2010

Well, it seems like we have quite the old fashioned brew ha ha going here. I have to salute President Obama for his gutsy moves against the banks to attempt to get the current banking fiasco in order. We the people paid for the bailout $$ that helped the banks regain solid footing and become […]

Stop Living in the Past!!

Thursday, January 21st, 2010

I am a big fan of CNBC. Rick Santelli is always out on the edge ~ however he had 5 very important words to say early this morning ~ “Stop living in the past”. These were just the words I wanted to hear at 6:30 am. Everyone is still standing around waiting for a bailout. […]

Another Foreclosure Auction Sale Date Stopped!!

Thursday, January 21st, 2010

Client called me at 8:30pm last night in a panic frennzy ~ his house was set to be sold at auction on Friday 1/22/10. I had him fax in specific paperwork to me today at 6am MST. We we able to stop the sale date to day based on initial hardship presented and financial documents […]

Well ~ The Big Banks have reported Big Profits!!

Wednesday, January 20th, 2010

The news is out this morning….Wells Fargo, Chase & B of A are all way in the black. The Tarp $ went in the door did its job for the banks. Most of the $$ was kept in treasuries as reserve. None was used to enhance the loss mitigation departments on a grand level. No […]

Is the Gov’t loan mod program a failure?

Tuesday, January 19th, 2010

This has been a recent hot topic lately. I think the answer to this question is both yes & no. You must understand all the circumstances surrounding this current loan modification fiasco in order to make any type of judgement at all. This involves looking at everything from the beginning. First of all, the loan […]

Are you stuck in a rut on your loan modification?

Saturday, September 12th, 2009

Banks are playing games these days. You submit for your loan modification and your file goes to the collection department. They string you alone making think everything is OK and then they deny the claim….making lame excuse after lame excuse for the denial. The bottome line is that banks DON’T want to do the loan […]