I was in a mess with my current mortgage situation after losing my job of 3 years & went on unemployment. Obviously I was not making the same income on unemployment as I had before. After 3mnths late I called in & I was helped right away. The owner of the company Angella Faimanifo,was very understanding, knowledgeable, and most important listened to everything I had to say. She was able to find an answer & help me with everything. I was updated often and not left in the dark. After taking the application with her to see if I would qualify I had a response from her that very same day to be approved for the loan modification. I was very satisfied with the negotiation made with my lender to lower my payment. My new mortgage payment is MUCH LOWER & a permanent fix. I am so happy with how the whole process went & very pleased with my results. It’s very satisfying to work with a person 1 on 1 who keeps track of your case from start to finish instead of getting the run around and foreign scripts.

December 30, 2009 by courtneyzalewski in Westminster, MD

I ran into a sea of robotic operators who said, “yes we understand” but “no we cannot do that” in the same breath.  A lot of creditors told me since I was not behind yet they could not help but to call back when I was 3 months or more behind.  This was bizarre enough to me but what really shocked me was the mortgage company.

I was most concerned about them due to the fact this was our home, we loved it, and we had bought it knowing we could afford it with both of us working.  I had little savings at this point because most of our life savings was spent on the down payment less than a year earlier. I assumed that my proactive call to the mortgage company would help them see I wanted to keep my home but in my situation we would need to work something out temporarily to help with the monthly payment.  I was TERRIBLY mistaken. 

What I found not only disgusted me but made me realize I was going to have to step up and make something happen or risk losing my home and putting my family to the street with all of our life savings lost.  I asked for a payment plan to help ease the burden on the ONE mortgage payment we had missed and help us with the future ones that were coming fast.  I, in return, was offered a new monthly payment for the next 6 months $500.00 dollars higher than my current monthly payment that I already could not afford.  This was the best they could do.

In the meantime a sea of calls began to come about “ mortgage modification” and the new help for home owners and how these companies calling could all help me get a new payment by working with my lender.  Most of the companies that called had terrible reviews and were less than trustworthy according to my research.  Then I found New Hope Mortgage Solutions.

From the first contact I had with CEO Angella I felt secure and confident she could get the job done.  She was honest and sympathetic to my situation and spent time walking me through the “new laws” for homeowners and how the modification process really works.  She addressed my concerns both as I voiced them and in some cases before they even came out of my mouth.  She was unbelievably knowledgeable about the modification process and very forth coming about whom she works with and how the job gets done.  This was the best call I ever made and the turning point of my nightmare. 

Shortly after our conversation, I decided to go with new hope mortgage and try to get a modification to our mortgage in order to keep our home.  This was a scary step for me and at the same time smartest thing I ever did.  The process is time consuming but the end result of keeping our home knew no limit.  Angella was there every step of the process to guide me and answer questions.  She answered every email I sent and returned every message I left and worked diligently to make sure my paperwork was correct and that we did all forms in a timely manner to allow the modification to occur as quickly as possible. 

A few months later I got great news from Angella.  We had been approved, by our lender, to receive a modification to our mortgage to lower our payment by $150.00 a month.  This was a big help to our overall financial situation and helped to bring our mortgage closer to affordable in our situation.     

The takeaway I have for anyone in my situation reading this testimonial is this:

Banks are not designed to help people.  They are designed to collect money on debts they are owed and are happy to make profits on high interest rates and late fees.  They do not care if you have a home or not as long as they get their money in the end.  You are not a person to them you are a loan account number so do not feel bad that you have fallen on hard times and need some help with your debt.  Lastly, you CANNOT get a loan modification on your own. I wish someone had told me this a lot sooner than I realized it on my own.  You need a knowledgeable agent to represent you and educate you about the process, tell you your options, and help you through the process from the beginning to the end.  I will tell anyone who ever asked me that New Hope Mortgage Solutions is that Agent.

Thank you,

The Scheinders

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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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.

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.
]]> http://newhopemortgagesolutionsllc.wordpress.com/2009/06/17/the-real-truth-about-loan-modification-and-loss-mitigation/feed/ 2 newhopemortgagesolutionsllc http://newhopemortgagesolutionsllc.wordpress.com/2009/06/17/loan-modification-for-those-who-are-not-late-on-payments/ http://newhopemortgagesolutionsllc.wordpress.com/2009/06/17/loan-modification-for-those-who-are-not-late-on-payments/#comments Wed, 17 Jun 2009 13:00:48 +0000 New Hope Mortgage Solutions http://newhopemortgagesolutionsllc.wordpress.com/?p=26 ]]> What do I do if I foresee financial difficulties in paying my current mortgage payments….
If you foresee that your loss of job, overtime, second job, or many other factors that can lead into a reduction of income….Then you will have to start thinking about options now…
Obviously most would like to stay in their homes… here is some very professional advice!

Some simple tips can go a long way in preventing foreclosure.

Get in touch with your lender IMMEDIATELY:
Myth #1: Lenders are like hungry sharks circling around you till they can chew you in whole. Wrong. The last thing lenders want is your house. They want periodic installments and will do anything to ensure steady cash flow.

Myth #2: Lenders stand to gain when they sell off your house. Face it. Lenders are not realtors. Besides, the foreclosure process is not a piece of cake for them either. They have to meet additional expenses like legal fee, repair costs, maintenance costs, property tax etc. Most of the times, the houses that lenders collect are dilapidated and the cost simply does not work out.

In short, if you see trouble in the horizon, contacting your lender is the first thing on the agenda. The more you delay, the more likely that you’ll end up losing your home. Also remember that the first letters you get from your lender actually contain valuable information about preventing foreclosure. Do not throw these away.

Know your rights:
Most homeowners just do not know what their rights are and what will take place if they default. A thorough understanding of your mortgage rights is a must before you take any action. Only then can you have a clear idea of the options available to you.

Prepare your hardship letter carefully:
The hardship letter is vital to the entire process of preventing foreclosure. This is where you get to state your case in an authentic and convincing manner. Don’t be too short or go overboard with it. State your problem in a simple manner. Type it so that it can be read easily. Attach relevant documents. Don’t forget to include your alternative plan of action.

Have all facts and figures ready:
You will need an accurate listing of your expenses when you meet with your lender. Most people provide vague calculations. Loan mitigation cannot be worked out on such terms.

Budget your expenses accurately:
There’s no escaping it. Cutting corners is the only way. You have to see what luxuries you can do without. Eliminate these so you can have more money for your loan payments and other pressing commitments.

Shop wisely:
If you decide to make use of the services of a loss mitigation specialist for preventing foreclosure, choose wisely. Do not fall for scams (there are a lot of them doing the rounds) or go for the first deal you come across. Contact the agency and evaluate their success rate and experience before you decide to hire them. Ask to speak to the attorney, as most companies do not have an actual attorney do their Mitigation.. New Hope Mortgage Solutions LLC, Prides itself on having our network of attorneys preform each and every Modification.

Losing a home to foreclosure has several devastating consequences. It rips your financially and emotionally. Furthermore, it is an ignominy that stays in your credit report for many years, hampering your chances of landing a job or buying a new house. Preventing foreclosure is the only way you can stop your defaulted payment from taking over your life.

CALL NEW HOPE MORTGAGE SOLUTIONS LLC…..TODAY….
EMPOWER YOURSELF WITH THE LEGAL REPRESENTATION YOU NEED..
1-866-611-7725

Now to further touch on why you should have an attorney represent you during this very stressful process..

The time has never been better for consumers (who own homes) to take action and request that their loans be modified towards better terms and a lower interest rate. Moreover, with these new economic realities, a loan modification may be the only way for a homeowner to save their home.

Recently, large numbers of homeowners have been trying to complete “loan workouts” or loan modifications with their current mortgage lender to lower the interest rate and improve the terms of their loan. They have learned that negotiating with the bank for a modification of their home loan can be an overwhelming process. Major lenders such as Countrywide bank, Indy Mac bank, Wells Fargo, Bank of America, WAMU, New Century, Quicken Loans, Aurora, Aegis, EMC Mortgage, CITI Mortgage, Chase Bank, are inundated with defaults and foreclosures. Numerous calls, hours of time, repeated delays, transfers from one department to another, voice mails, faxes back and forth…how can you accomplish all of these things while desperately trying to live a normal life? Trying to take care of your family, trying to make a living, trying to make ends meet…

CALL US TODAY ! NEW HOPE MORTGAGE SOLUTIONS  1-866 -661-7725