Homeowners still don’t understand the loan modification process, or how to achieve one!

Why use an attorney within the state your home resides

Why 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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Doing Your Own Loan Modification is Suicide

In the four years I have owned New Hope Mortgage Solutions I have been asked the same questions over and over again. Why can’t I do my own loan modification, and why do I need an attorney? Up until now I have been polite and keep pretty quiet in regards to my blog. Well my friends ……….no more! I cannot sit back and take it another day. Those who know me absolutely know me and that’s the truth!
There are so many answers to why a homeowner needs a licensed attorney within the state the home resides in, where do I begin? The fact that I have assisted in hundreds of permeate solutions for homeowners may have something to say for my experience. The major problem I see in the millions of homeowners trying to achieve a modification themselves is they have no idea what it takes to get one! They also are making a horrible mistake in assuming their lender is their friend, on their side, or are willing to just help them. People it doesn’t work that way at all! You are their investment, and that’s the end of the story! The answer to why professionals are achieving better results is quite simple if you think about it. Many people in the media and our government are trying to figure out why loan modifications are not working and it is really quite simple to figure out. Yet, here we are almost four years into this foreclosure mess and it’s as if we are all stuck on stupid.
One doesn’t have to look further than the mortgage servicing industry to get their answer.
Mortgage servicers left to their own device will do what is best for their bottom line and loan modifications cost money, time and headaches when done right. Especially due to the fact that not one servicer was or is adequately prepared to handle this foreclosure crisis. They are shifting employees around like clowns in a circus. Each time you call to discuss your major hardship, you are speaking to yet another person.
Simply put, unsupervised loan modifications that leave loan workout and foreclosure decisions up to mortgage servicers will not work. Homeowners do not have a chance going up against these money hungry powerhouses. For them to think they don’t need legal counsel is absolutely foolish. Banks are being sued, caught by attorneys that went in to negotiate the homeowner’s hardship, with perfect ratios as well as a perfect package. Still  the banks have denied them. In turn that homeowner having an attorney actually allowed themto sue and win. The banks are giving hoeowners that qualify the bare minimum they can in relief. The only way to fight back is to have legal counsel on “your side”. This honestly isn’t rocket science.
I truly think it is time to for our government to get out of D.C. and take a “real” look at this mortgage crisis to see who is really in charge of cleaning up these mortgages right now. It is not our senate, it is not Sheila Bair and it is not Obama. It is the mortgage servicers who are in 100% control and operate like the mortgage mob in almost complete anonymity and secrecy.
My question to our government and the media is, “How can we expect them to do what is right, when they have been doing what is wrong for so long? Don’t you think that 2010 is the time to tighten the reign on this unregulated industry and force accountability on mortgage servicers who play a HUGE part in this foreclosure crisis?” I blame them for this mess one hundred percent. And now they want nothing to do with helping people out of it.
From no loan modification guidelines, no policies, no procedures, not enough staff, rude staff, missing staff, fired staff, lost faxes, lost emails, no return calls, 6-36 month loan modification process and this complaint lists can go on and on.
It’s the damn Wild, Wild Loan Modification West out there and the frontier is ruled by the pioneers of the game, lenders and mortgage servicers. You know those guys right? The dudes (banks and lenders) that had a HUGE part in where our economy is now, yeah them!
Yet, I am sure when you applied for your home mortgage, these lenders had procedures to follow, you had one friendly loan officer, no lost faxes, no lost emails, calls were returned promptly, 10-21 day close and you were treated like a rock star. Hell, you may have even got a fruit basket and some wine when you closed your loan.
And when you’re on time, you’re a king, but when you’re late, you are a peasant.
Excuse me, but something seems terribly wrong with this mortgage picture America. So, let me make it clear for you all. Lenders are liars, mortgage servicers suck and our government and media just doesn’t get it!
Disclaimer: Citi Mortgage seems to be only mortgage servicer that I feel is really trying to get loan modifications right.
The bottom line is there is fine print, even if you’re lucky enough to get a trail payment plan. If you mess up, or don’t read the documents correctly, sign the wrong paper, fill in the wrong numbers, without having a professional licensed attorney within the state you live in review them you are dead in the water if one thing is out of order on your end. ”Do it yourselfers” who want to save a buck, look around you; if the banks were helping homeowers wouldn’t this messed up situation be getting better and not worse? Get yourself an attorney and allow someone that knows the laws and what the Making Homes Affordable Program can do for you try to save your home. Don’t wait until you’re in default to get professional help. Those who have waited are the largest amount of people that have already lost their homes. Let’s get with it people this is “not” something you can handle. Do research, and realize these lenders are actually getting paid to put you in all these trail payment plans, yes every time they put you in them. Read the writing on the wall. We will evaluate your financial situation to see if you even qualify income, v/s expenses and mortgage payment.If you want to win then call the best Loss Mitigation Attorneys in the country and be successful. Isn’t that what you want to be successful? Call New Hope Mortgage Solutions today and allow the professionals to help you save the largest asset you have……..your home.

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Article written by Angella La Ricci Faimanifo
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PROFF ALL OVER THE INTERNET AND MEDIA SHOWING LENDERS AND SERVICERS WANT YOU TO FAIL AT GETTING THE MODIFICATION. YOUR FAILURE IS THIER GAIN.
Some Mortgage Servicers Are Setting Homeowners Up for Failure
by Moe Bedard on April 30, 2010

The latest foreclosure numbers are in and they’re not good. A record number of homes were foreclosed upon in the first few months of this year. This is despite billions of taxpayer dollars and promises by the mortgage industry to aid struggling homeowners.
A KING 5 investigation finds part of the problem lies with some of the people who are supposed to help you out. They profit if you fail.
The story of Washington National Guard Sgt. Tyler Hood may be an example of that.
He was dodging roadside bombs in Balaad, Iraq last summer unaware that a financial time bomb had starting ticking back at home.
Like many soldiers Sgt. Hood kept a large bank balance as a safety net for his young family in case the worst happened in the war zone.
It wasn’t until after he got home that Hood and his wife Melissa, also a National Guard Sgt., learned their new online banking service wasn’t paying their monthly mortgage.
“We missed payments. That’s our fault,” says Tyler Hood. “I just want to get back on track. We can afford our house. But the problem started when we started trying to make that up.”
The Hoods sent a check, they made calls, and they spent nearly three months trying to confirm they had pulled their mortgage out of default.
“They just assured me that everything was fine,” says Tyler Hood. “Then, a week a later we get our ten copies of foreclosure documents in the mail. It feels like they’re trying to steamroll you out of your house.”
It almost seemed as if the people that were supposed to help them wanted the Hoods to fall into foreclosure.
It may sound confusing, but it all adds up to Melissa Huelsman. The Seattle attorney and mortgage expert reviewed the Hood’s documents at the request of the KING 5 Investigators.
She tallied thousands of dollars in fees that were charged while the Hood’s home loan was in default.
“Mortgage loan servicers have a financial incentive to push to foreclosure because they make more money in the foreclosure process,” says Huelsman.
The loan servicer is the company that handles your payments and paperwork. It’s the middle-man between you and your lender.
Loan servicers now have a new and vital role processing homeowner’s requests for loan modifications and other tax-payer assisted help.
One of the largest is CitiMortgage, the Hood’s loan servicer.
In public relations campaigns, these companies claim they are working hard to help struggling homeowners.
A new government report tells a different story; that loan servicers are undermining modifications which take a lot of work and earn the servicer little profit.
The case of the Hoods, who had the money to pay their debts, may reveal the loan servicer’s perverse incentive to foreclose.
“Because they get paid to foreclose,” says Huelsman.
And they get paid in big numbers. The KING 5 Investigators sifted through CitiMortgage’s publicly available financial records. We found that CitiMortage made 90 million dollars in mortgage servicing late fees in 2007.
The following year, when more mortgages were melting down, that number grew to 123 million in late fees a nearly 40% increase.
Deborah Bortner of the Washington State Department of Financial Institutions the agency received enough complaints that it pushed for a new law that now requires loan servicers to be licensed and regulated.
“Many of the loan servicers are serving just 10% or 20% of the people who call in and giving them a fair shake,” says Bortner.
But the new law only covers state-registered loan servicers. Big banks like Bank of America, Wells Fargo and US Bank all have loan servicing divisions. They generally service the loans of outside investors or lenders; in other words, loans where they don’t stand to lose if the mortgage goes into foreclosure.
The big banks, which own 70 percent of the loan servicing market, are federally regulated so they are beyond the reach of the State’s new loan servicing law.
That includes CitiMortgage, which earlier this year sent the Hoods paperwork showing that their home was sold at a foreclosure auction.
How much did Citi make off of fees in the Hood’s case?
“So the total charges by the time they were getting their notice of foreclosure was $3553.14,” says Huelsman.
“You start feeling hopeless, especially when everybody you talk to tells you it’s too late,” says Hood.
But is it too late?
After calls from the KING 5 Investigators and Huelsman, Citi now says it will try to keep the Hoods in their home.
Negotiations on just how to do that are under way.
A spokesperson for CitiMortgage, owned by parent company CitiGroup, did not reply to questions posed by the KING 5 Investigators. Mark Rodgers, director of Citi Public Affairs, did release the following statement:
“We cannot provide details about a specific customer’s account due to privacy restrictions. However, the sale of this property has been reversed, and it has been restored to its owners. We comply with the Servicemembers Civil Relief Act, which provides certain financial and related protections to servicemembers on active duty. It is, however, incumbent upon borrowers to inform us and document their deployment for active duty, so we can avoid misunderstandings resulting from missed or short payments. We continue to work with the borrowers on this matter.”
The company did point to government reports showing that Citi is offering more temporary modifications than most other big banks.

THE REAL TRUTH ABOUT LOAN MODIFICATION AND LOSS MITIGATION

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

Today 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

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