This is a Wachovia loan workout success story from Laguna Beach California. The client had been trying for months on her own to workout her own Lawyer Loan Adjustment with Wachovia.
She was 3 months behind on her mortgage and was in one of those original “pick a pay” florida hard money from World Savings at a rate of 6.875%. The “pick a pays” are not exactly the same as the Countrywide negative amortization programs. However, these are those programs that were looked down upon by many! They seemed to be the dirty word in the industry, but I think they were great for certain people because the interests rates were very low on some and allowed cash flow for those that needed it during tough times.
Anyway, my borrower did not qualify for Home Affordable Modification Program under the [/spin]Obama|Federal|Government[/spin] Lawyer Note Change because she owed $960,000 on her home at the time, which is a loan amount that is too high for the qualifying matrix of the program. As a side note, her original mortgage balance was lower, but with the Wachovia “pick a pay” note, she had paid the lowest loan payment which was always less than her interest, and thus her principal balance grew. She also had not paid her property taxes for the last two payments.
Since the real estate market was in a decline at the time, she found herself underwater in her note, meaning she owed more than her house was worth. At the time of the Wachovia Attorney Loan Workout, her property was worth $700,000 or so, not sure what it is worth right now.
She spent over 6 months fighting Wachovia and got nowhere but a denial and plenty of worry of course. By the way, Wachovia ranks at the bottom of the list as far as completing any type of work out programs for homeowners. So, my client finally reached out[spin] me with her story and decided to hire [spin]one of our Attorney to handle her case, as she really had no other option at that point if she wanted to keep her house. She did not want to bankruptcy if at all possible.
While the Attorney was handling her case, she changed jobs, which is always a concern as any change in the person's financial situation could impact the outcome of the Attorney Home Alteration. So, as a reminder to all, do your best to keep your financial situation the same, i.e. NO CHANGES, unless cleared by the Lawyer first!
Within three weeks of submitting the Attorney Mortgage Adjustment to Wachovia, our Attorneys had terms already modified. A principal write off of $120,000, forgiveness of the late payments, property taxes added on to the principal balance, and a 40 year fixed rate at 6.125% were the final terms.
Showing posts with label california loan modification company. Show all posts
Showing posts with label california loan modification company. Show all posts
Monday, September 28, 2009
Thursday, August 13, 2009
Why Contract A Mortgage Note Mod Attorney?
The Feds $50 billion dollars allocated to the mortgage meltdown is helping only a tiny fraction of the homeowners that are in jeopardy of losing their homes. As of July, statistics show that only 9 percent of those applying for stop foreclosure are getting changes done. In addition, 10 servicers have not changed a thing!!
Studies have found that both Bank of American and Wells Fargo have lagged well behind government expectations. We know, as we see or read the news every day, where our government is pushing and urging the servicers to help Americans and modify their loans. Our government has taken our tax money, the good old American Peoples money, and given the lenders our money to re-lend to us, and they just aren’t doing the job we the American People need, and what our government is asking them to do.
Because of this dilemma, you as a homeowner must get an experienced attorney mortgage mod Attorney to act on your behalf with your servicers to negotiate and modify your home loan. The Attorney adds that additional pressure of dangling a potential lawsuit against your servicers. That pressure alone, makes thesenote holders listen and work to modify your loan. Remember, these banks are the ones that put you in your bad loan in the first place and the same people that run these mortgage companies are still in charge!!! Have our contracted Attorneys get what you deserve from your mortgage companies!
* Someone Will ring You Back
* You reach a Very Unhelpful note holders Employee who is actually Rude!!!
* We Did Not Get Your Paperwork
* Your Paperwork Went To The Wrong Department
* Can You Please Send Your Home Loan Modification Paperwork Again? (this is 5th time that you sent the paperwork!)
* When Did You Send Your Mortgage Note Modification Paperwork?
* What Did You Send?
* You’re Not Behind On Your Payment so We Can’t Help You!
* Who Did You Send Your Home Loan Mod Request To?
* How Did You Send It?
* We Never Got Your Message
* The note holders tries to force you into a bad Mortgage Workout!
* The banks takes 9 months to modify your loan!!
* The mortgage companies offers you a terrible Mortgage Workout and charges you!!
We have a very simple and secure Loan Mod request form that you can fill out and get nearly instant follow up from a compliant and trustworthy Attorney Back Loan Mod Company. There is no obligation and no cost to find out if we are able to assist you in lowering your monthly mortgage payments through an attorney assisted loan modification, please go directly to our website to find out more at http://www.callalms.com. The best way to ensure the success of your Home Loan Modification request with your current servicers is to let an experienced loan modification Attorney represent you in your Loan Mod.
Studies have found that both Bank of American and Wells Fargo have lagged well behind government expectations. We know, as we see or read the news every day, where our government is pushing and urging the servicers to help Americans and modify their loans. Our government has taken our tax money, the good old American Peoples money, and given the lenders our money to re-lend to us, and they just aren’t doing the job we the American People need, and what our government is asking them to do.
Because of this dilemma, you as a homeowner must get an experienced attorney mortgage mod Attorney to act on your behalf with your servicers to negotiate and modify your home loan. The Attorney adds that additional pressure of dangling a potential lawsuit against your servicers. That pressure alone, makes thesenote holders listen and work to modify your loan. Remember, these banks are the ones that put you in your bad loan in the first place and the same people that run these mortgage companies are still in charge!!! Have our contracted Attorneys get what you deserve from your mortgage companies!
* Someone Will ring You Back
* You reach a Very Unhelpful note holders Employee who is actually Rude!!!
* We Did Not Get Your Paperwork
* Your Paperwork Went To The Wrong Department
* Can You Please Send Your Home Loan Modification Paperwork Again? (this is 5th time that you sent the paperwork!)
* When Did You Send Your Mortgage Note Modification Paperwork?
* What Did You Send?
* You’re Not Behind On Your Payment so We Can’t Help You!
* Who Did You Send Your Home Loan Mod Request To?
* How Did You Send It?
* We Never Got Your Message
* The note holders tries to force you into a bad Mortgage Workout!
* The banks takes 9 months to modify your loan!!
* The mortgage companies offers you a terrible Mortgage Workout and charges you!!
We have a very simple and secure Loan Mod request form that you can fill out and get nearly instant follow up from a compliant and trustworthy Attorney Back Loan Mod Company. There is no obligation and no cost to find out if we are able to assist you in lowering your monthly mortgage payments through an attorney assisted loan modification, please go directly to our website to find out more at http://www.callalms.com. The best way to ensure the success of your Home Loan Modification request with your current servicers is to let an experienced loan modification Attorney represent you in your Loan Mod.
Monday, July 6, 2009
A Big Foreclosure Moratorium To Increase Loan Workouts
The california attorney loan modification Prevention Act, signed by Gov. Schwarzenegger, adds 90 days onto the time period between when homeowners defaulting on a note and when their home can be repossessed in foreclosure. Banks can avoid the 90-day holdup by having a comprehensive program in place to make mortgage more affordable by reducing the interest rate. Such programs must be approved by regulators.
The goal is to compel Banks to do systematic loan modification across California to reduce the foreclosure rate. California’s save my home rate is said to be the highest in the nation. Of course we have all read the stories of even seemingly rich celebrities losing their multi-million dollar mansions to foreclosure in recent months. The slowing down and stopping of foreclosures is seen in large part as the path back to economical stability in many states.
In the past few months, 15 lenders have agreed to implement the Obama plan, according to the Web site MakingHomeAffordable.gov. Government spokespersons have said that about 100,000 homeowners nationwide have been sent offers for trial modifications, a relatively modest number compared with the administration's goal of helping 3 million to 4 million homeowners to avoid foreclosure.
In California, the Department of Corporations will determine whether banks qualify for an exemption from the moratorium. About a dozen mortgage companies had applied as of last week, said department spokesperson Mark Leyes; they will now have a 30-day grace period while their applications are reviewed. A list of the participating banks will be posted on www.corp.ca.gov.
The department will monitor the Banks success rate regularly, to make sure that they have a program in place. Still, there is no guarantee in the law that anyone is going to get a loan workout. The hope is that http://www.callalms.com/loan-modification-news-blog/viewpost/95 will make a good-faith effort to make loans affordable and sustainable for homeowners. It is also the hope that homeowners in turn will be able to keep up with their new mortgage payments without undue financial strain. This in turn, will result in homeowners again feeling comfortable to start spending their money and pouring it back into the economy.
The California law, like the Obama plan, says that can determine whether a foreclosure or a loan workout is more cost-effective and can pick the cheaper option.
You can visit http://www.callalms.com to learn more about the laws and get free tips on how to succeed at your loan modification. If you want to get an immediate responce from an attorney backed loan modification firm based out of california please feel free to use the quick application that can be found at http://www.callalms.com/secure-online-application where you can do a secure online inquiry that will be followed up on within one hour by a professional.
The goal is to compel Banks to do systematic loan modification across California to reduce the foreclosure rate. California’s save my home rate is said to be the highest in the nation. Of course we have all read the stories of even seemingly rich celebrities losing their multi-million dollar mansions to foreclosure in recent months. The slowing down and stopping of foreclosures is seen in large part as the path back to economical stability in many states.
In the past few months, 15 lenders have agreed to implement the Obama plan, according to the Web site MakingHomeAffordable.gov. Government spokespersons have said that about 100,000 homeowners nationwide have been sent offers for trial modifications, a relatively modest number compared with the administration's goal of helping 3 million to 4 million homeowners to avoid foreclosure.
In California, the Department of Corporations will determine whether banks qualify for an exemption from the moratorium. About a dozen mortgage companies had applied as of last week, said department spokesperson Mark Leyes; they will now have a 30-day grace period while their applications are reviewed. A list of the participating banks will be posted on www.corp.ca.gov.
The department will monitor the Banks success rate regularly, to make sure that they have a program in place. Still, there is no guarantee in the law that anyone is going to get a loan workout. The hope is that http://www.callalms.com/loan-modification-news-blog/viewpost/95 will make a good-faith effort to make loans affordable and sustainable for homeowners. It is also the hope that homeowners in turn will be able to keep up with their new mortgage payments without undue financial strain. This in turn, will result in homeowners again feeling comfortable to start spending their money and pouring it back into the economy.
The California law, like the Obama plan, says that can determine whether a foreclosure or a loan workout is more cost-effective and can pick the cheaper option.
You can visit http://www.callalms.com to learn more about the laws and get free tips on how to succeed at your loan modification. If you want to get an immediate responce from an attorney backed loan modification firm based out of california please feel free to use the quick application that can be found at http://www.callalms.com/secure-online-application where you can do a secure online inquiry that will be followed up on within one hour by a professional.
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