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News (85)

The information and tools you need to get through the storm…

Setting aside how to fix, or rather un-thaw the credit markets that would thereby make mortgages more readily available to more people, lets talk about getting your loan modified… homeowners need to start down this path by running what is called a “REST Report”.

I’ve written about the reasons for homeowners to use the REST Report when applying to their servicer for a loan modification, but I want to be much clearer and stronger in my statements in support of homeowners and lawyers using the REST Report

Read more...

This week, the state Attorneys General will begin negotiations with the big banks on the terms of the settlement to their fraudulent practices. While the final details will take weeks to hammer out, the opening salvo will determine what stays on – or gets kicked off – the negotiating table.

The stakes couldn’t be higher. On Tuesday March 29, thousands of Americans will participate in a nationwide call-in day, demanding that their Attorney General “stand with homeowners, not the big banks.”

 

Read more...

It's no secret that America's housing market is suffering; some neighborhoods are rife with signs pointing out foreclosures and short sales.

If you're in danger of losing your home, check out these prevention tips to avoid foreclosure.

With just a few tweaks, you may be able to save your home and your credit.

Read more...

STATEN ISLAND, N.Y. -- The biggest blow came last April when Syed Hassan lost his wife -- the mother of his three boys -- to lung cancer.

And now, another disaster looms: After almost a year of court battles, Hassan faces the specter of foreclosure.

Wells Fargo Home Mortgage is declining his mortgage adjustment on his Meiers Corners property issued through the Housing Affordable Modification Program (HAMP), a federal loan modification program designed to help homeowners stave off foreclosure.

Read more...

Free Workshop Planned For All Wells Fargo Customers

PHOENIX, Ariz. -- Valley residents still struggling with their mortgages can get help at an upcoming free workshop.

Wells Fargo will host a workshop for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships. The two-day workshop will happen from 9 a.m. to 7 p.m. Wednesday and Thursday at the Phoenix Convention Center.

Read more...

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We can help you stop foreclosure with a loan modification in the following states:

If you need help understanding your option of taking advantage of the home loan modification process, the help is available to you everywhere. The process is quite tricky and it is highly recommended that you do indeed seek legal advice before signing on the dotted line, in order receive the most efficient and cost-effective modification to your mortgage payment.

Where do I get Advice
There is advice all over the web on how to receive a loan modification; some of this advice is quite helpful, while some is quite dreadful. There is also the opportunity to hire a professional service that will help you go through the paperwork and work with the lender to help you get all the benefits that you deserve, due to a hardship. Loan modification is a process that must be understood completely and thoroughly. This article can actually offer you an insight on the process of loan modification and tips that will better help you as a homeowner save your home from the risk of a foreclosure.

Loan Modification Advice
First and foremost, it is important to determine if you are eligible for a loan modification. This requires writing a letter of hardship explaining to the lender what exactly the reason is for your late payments and the fact that you are unable to pay your mortgage. Doing a loan modification on your own requires more than just advice. Becoming educated about the process is more important. This is perhaps a good reason to hire a professional loan modification company to take part in the process. They will handle everything for you, while educating you in the progression. There is a fee charged for hiring these companies, but in turn your mortgage payment can be lowered quite a bit and professionals can even find things in your original loan papers that may prove that the lender may have broken the law during your original mortgage signing.

If you do choose to take the big leap of the loan modification process on your own, you must first contact the lender and they will lead you to the correct department, normally the loss mitigation department. You may not want to directly say that you are in the process foreclosure. We do not want the lender to think your situation is not worth their time before hearing you out. Always document anything relating to the loan modification process, every phone call and any other information you may receive during the process must be documented. Always discuss every option available with your lender, so that you may come up with the best alternative for you. It is true you will save money going directly through your lender and let’s face it, you are struggling already trying to make your payments, but professional assistance can help immensely.

No matter what direction you decide to take, loan modification will be what determines the amount of time you have in your home. If you are eligible you should act as soon as possible.

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