Archive for the 'loss mitigation' Category
Homeowners still don’t understand the loan modification process, or how to achieve one!
September 18, 2010Why use an attorney within the state your home resides
September 16, 2010Why Use A Loan Modification Attorney?
Lenders are difficult for two main reasons: First, you get different answers from the different customer service representatives each time you contact your lender. Second, customer service representatives are not equipped with the necessary tools to be able to assist you. To be able to get the best Loan Modification, you need legal assistance. Keep on reading to discover how a Loan Modification Attorney can help you get the results you want from your lender.
1. They know your needs. A Loan Modification Attorney will review your case from a legal perspective. The Attorney will know how to deal with your lender, and will help you prepare your application so it’s processed quickly. When the Attorney presents your case, he will be armed with all the necessary documents & the correct negotiation techniques.
2. Loan Modification Attorneys get the best results. Your lender will take your Loan Modification request more seriously when you have an Attorney on your side, because an Attorney uses legal information as leverage when negotiating.
3. They buy more time. If you try to get a Loan Modification on your own it’s very possible that they will be transferring you from one department to another without making any progress. And if you already are in foreclosure, you can’t waste any more time. A Loan Modification Attorney can stop the foreclosure proceedings, giving you more time to recover while he concentrates on saving your home.
A Loan Modification is like going to court: you can save money by requesting a public Attorney, or you can invest on a professional one and get the best assistance and representation possible. A Loan Modification will not happen overnight, but with a capable Attorney, you can be sure you’re in good hands.
More than one thing that you read about loan modification today says that you can do your own loan modification without the help of an experienced loan modification attorney. Even if it is technically correct that you don’t have to hire a loan modification attorney to see results, many people are finding that by hiring a loan modification attorney who works in they are getting “better, faster” loan modifications done. Having protection of the attorney that is licensed within the state the house resides will help prolong the foreclosure process.
The assistance of a loan modification attorney will make the loan modification process go much smoother. Many borrowers never actually get a loan modification done when they try to work with their lenders and are told excuses like “but you are not late yet”. By carefully selecting loan modification attorney to assist you with your case, you can be assured that there will not be any “excuses” when there needs to be answers.
Loan Modification Attorney: Free Initial Consultation
If you live in and are thinking about a loan modification – and possibly hiring a loan modification attorney to help you, the first step is to meet with the loan modification attorney to review your case. When you hire an experienced loan modification attorney, the first thing he will do is review your case on a legal basis looking for flaws to leverage during negotiations.
- Provide you with a plan of the loan modification process
- Give you an overview of results others are seeing
- Outline any fees charged for services
- Give you an overview of both RESPA and TILA laws
- Take just a few hours
A Loan Modification Attorney in Can Help You:
- Significantly reduce your interest rate
- Re-amortize the loan to include any past due payments
- Waive interest that may have negatively accrued
- Fix your adjustable mortgage
- Reduce the total amount that you owe on your mortgage
- Lower your overall mortgage payments
Using a Loan Modification Attorney to Level The Playing Field
The loan modification process is not easy – and working with lenders is challenging for two main reasons: first, everyone you talk to gives you a different answer; and second, they are not set up to help you unless you already know exactly what they want. Just because of the way the system is setup, you need the assistance of a loan modification attorney right here in to ensure you get the best deal.
Fighting for a loan modification is similar to going to court. You can try to save money by being your own lawyer, or you can get much better results in the long run by hiring a professional. Call New Hope Mortgage Solutions today for an appointment for a Free Attorney Consultation www.newhopemortgagesolutions.com
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THE REAL TRUTH ABOUT LOAN MODIFICATION AND LOSS MITIGATION
June 17, 2009| The Lowdown on the Mortgage Loan Restructure Process |
| Surely by now everyone has heard of the latest government programs addressing the sub-prime mortgage crisis; they may even realize that there are loan modification companies out there to aid in restructuring the terms of their mortgage. What most consumers do not know is exactly how the process works and what to expect during the process.Remember that the mortgage servicer is not on the side of the homeowner. They are merely concerned with their own bottom line and have no incentive to patiently walk the average consumer through the process.
What the Government and Media Want You to Believe Should you believe the positive spin being put on efforts to help the current economic situation by the government, as well as the media? If you listen to the nightly news, you may find yourself fully convinced that you can deal with your mortgage servicer yourself and quickly and easily restructure your loan so that you are safe from threat of foreclosure. What they are not being completely honest about is that a mortgage loan is a legal document. As such, the homeowners who signed it are legally bound and obligated to pay it back under the terms it was written. Attempting to restructure the loan without professional advice and the correct legal information can actually result in creating a worse situation for the struggling homeowner – and oftentimes the loss of the property anyway. New Government Loan Modification Rules Knowing the Government Loan Modification Rules is important if you are looking to modify your loan within the new Government Loan Modification Guidelines. Don’t leave anything to chance if you are not totally sure what you are doing then you should see an attorney so you don’t do a deal you will be sorry later. If you do not know what the qualifying factors are for a loan modification, how could you possibly get approved. This is where New Hope Mortgage Solutions has helped homeowners.. It takes knowledge, negotiation skills, and legal empowerment to win this battle. NHMS’s has performed over 99% successful Mitigation’s and growing everyday Do It Yourselfers Face Risks If you are considering going through the process of the mortgage modification process without benefit of legal counsel, be aware of some of the drawbacks. The first one is that the new loan terms will probably contain further legalese that is not in the best interests of the mortgagee. For instance, often you will find a release of liability clause included. For the homeowner, this means that they are not allowed to seek legal action against the mortgage company for any reason – never a good recommendation. The fact is that most homeowners who restructure their mortgage without benefit of professional counsel will end up facing foreclosure again within six months of the new loan. Remember that the financial institution only cares about getting their money and will not do what is in your best interests. Using loan modification companies as your advocate to prevent foreclosure is highly recommended. These firms have the knowledge and resources to investigate what company truly holds the mortgage and how to best deal with them and respond appropriately to the legal ramifications. If you are facing foreclosure, this is no time to try to do it yourself and risk losing even more. |
| CALL 1866-661-7725 TODAY AND GET THE HELP YOU NEED!!! WE TAKE SAVING YOUR HOME PERSONALLY. |
ATTORNEY’S HAVE TRUE SUCCESS WITH LOAN MODIFICATION
June 17, 2009Today it is hard to trust anyone. When choosing a Loan Modification always ask to speak to the attorney. Over half of the companies that say they are attorney backed, only have one attorney and they usually never see your package. Its cheaper to have a processor do all the work, and just have an attorney on standby. Well not at New Hope Mortgage Solutions LLC. They have a network of attorney’s that are very diligently screened before becoming apart of NHMS’s team. Not only do you need an attorney, but one with Loss Mitigation, and Foreclosure Prevention experience. Attorneys with experience, ethics, knowledge, and a very strong negotiation ability is what New Hope Mortgage Solutions LLC has in their corner. We have an amazing staff who take time with our clients right from the start. NHMS’s offers a free consultation to make sure the homeowners Debt to income and housing ratios meet the requirements for the new government programs. NEW HOPE MORTGAGE SOLUTIONS LLC. helps the client qualify for the government programs. They handle the stress, and the attorney’s negotiate for the homeowner. It is truly a perfect match….
Now to further touch on why you should have an attorney represent you during this very stressful process..
Let’s face it, this economy stinks! And this means that many homeowners are perhaps facing their first financial crisis and risk losing their homes. It also means that many are vulnerable to being ripped off by the crooks that always seem to appear in times like these!
In the last two years, the number of so-called “loan modification companies” has exploded and many homeowners are now considering using one of them to get their mortgage modified. Many times this can be a mistake simply because these companies do not know how to properly negotiate with the bank on the homeowners behalf. This is why it is important to only use a company that has experienced attorneys. Do not be fooled, at New Hope Mortgage Solutions we want you to ask to communicate with the attorneys.
An attorney can represent you in what is largely a legal process. A loan modification may enable the homeowner to reduce their interest rate and lower their mortgage payments. In many cases, it is also possible to actually get the outstanding principal reduced as well. This is especially true when there is a second mortgage involved and when the property is worth less than the outstanding mortgage.
One thing a lot of people don’t understand is that you must be employed to complete a successful loan modification. Unless, of course, you have another source of other income. After all, if you can’t pay your present mortgage how are you going to pay it after it’s modified?
It’s not uncommon to see attorney negotiate much lower rates for homeowners. Graduated payments plans are also popular. This is where a bank will approve a low rate for one year, increase it maybe one percent the second year, and then again for the remaining years. Many times they also agree to forgive overdue interest and penalties.
Remember, your home is at stake so always use an attorney for a loan modification. They will usually charge you a one-time flat fee regardless of the hours spent negotiating on your behalf. Money well spent to save your home!
VISIT NEW HOPE MORTGAGE SOLUTIONS WEBSITE FOR MORE DETAILS: Empower yourself with an experienced Loss Mitigation Attorney WWW.NEWHOPEMORTGAGESOLUTIONS.COM
