[VIDEO] Literally Under Water

 

Video of a guy LITERALLY under water writing out a message that says “Is your home under water? www.UnderWaterHomeHelp.com

[Video] Loan Modification Explained

Do you need help with your Loan Modification? Here is a helpful article.

Additionally, I have posted a number of detailed reports on your options to avoid foreclosure here: www.UnderWaterHomeHelp.com.

Frustrated by the Loan Modification Process?

Frustration-Help

Those blasted Banks!!! @#$@#

Trying to get a home loan modification? Frustrated by the lack of communication by the lender? You’re certainly not alone!

Does this sound familiar: “Hello Mr. and Mrs. borrower, we are considering your request for loan modification under the HAMP program. Please provide updated documentation: your last 2 months of paystubs, checking and savings account, retirement accounts and financial worksheet along with your hardship letter.”

Ok, that’s not so bad. But what IS bad, is that this is the THIRD time they’ve asked for the same documents! Since the bank has taken 6 months to sit on your last volley of documentation, of course those documents have expired…that’s how time works.

So a vicious cycle has begun. You, as the homeowner provide the financial documentation, send it to the bank, the bank sits on it; then several months later, the bank ask for the same revised documents. Rinse and repeat. Isn’t this the definition of insanity?

Here are a few tips to help ‘ease’ the frustration of applying for loan modification:

  1. Don’t delay! It is possible to apply and get approved for a modification without missing a payment. Here’s a quick quiz from the horse’s mouth regarding eligibility for a loan mod. (the horse being Uncle Sam).
  2. Account Numbers. In all honesty, lenders are getting deluged with applications for loan mods and short sales. Yes, they should do a MUCH better job keeping track of received paperwork (This issue deserves a whole blogpost on its own!) But to help your paperwork stand-out, please put the account number(s) of your loan at the top of every page you fax. In case your coversheet get’s lost (and they do), they’ll at least be able to tag the rest of your documentation.
  3. Submit Complete Paperwork Package. Lenders are notorious for rejecting your application if it is incomplete. You may feel you don’t need to submit a document because it doesn’t apply, or is too personal. Forget that notion: give them what they want. Worst case scenario, if a document really doesn’t apply, then insert a page or letter explaining why. It’s bad enough having to rely on antiquated tech from the 70′s to handle one of your most important transactions (fax), so do your best to submit a COMPLETE package. Can’t stress this one enough.
  4. Communication. Another big frustration of homeowners, is the lack of knowing what’s going on with their application. It’s important  to contact someone in the ‘loss mitigation’ department. Talking to someone in ‘collections’ may not get you where you want. Keep a log of all your communications. Write down time, date, who you spoke with, nature of conversation. This process is great for anal-retentive people. Don’t worry about being a pest in following-up with your lender weekly; after all, it’s your butt in a sling if the modification doesn’t get approved. Or if it actually does get approved, but during the tenancy of our nation’s 49th president.
Hopefully these few tips will help you have better success at getting a timely approval to your loan modification request. Be diligent. Pay attention to detail. Above all, have patience! Not only is it a virtue, it’s a necessity. Whereas there is no fool-proof way of getting your application approved (in fact, most are denied), these tips should increase your odds.
On a point related to #4, Communication, I offer a free service to my clients. I can do the follow-up for you. If you need help with your loan-mod, zap a message to me, and I’ll be happy to assist you.

Mortgage Relief Fraud: Will You Be the Next Victim?

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Not if I have anything to say about it!

The FBI reported a jump of 71% in mortgage relief fraud investigations from 2008-2009, and expects this number to have grown in 2010.

That’s why it’s my duty to educate homeowners in my community on the cautions they need to take, and what the government has recently done to protect you from unscrupulous individuals and companies who want to take advantage of their desperate situations.

What you need to watch out for if you are looking for mortgage relief assistance:

  1. Upfront fees—just don’t pay them! In fact, they are now illegal!
  2. A request to sign over your deed (this only spells trouble)
  3. Lots of paperwork without the opportunity for review
  4. The claim of government-affiliation

These are just a few red flags you need to be wary of. I’ve created a free report on the homepage of my website that details more of what you need to watch for.

If you are struggling with an unaffordable mortgage and are looking for help, educate yourself. These scammers can be very shrewd and will say almost anything to steal your money.

The Federal Trade Commission has required disclosures of anyone offering mortgage relief services. If you’d like to see an example, check out any of the pages of my website. If a company you are dealing with has not provided these disclosures, please ask why they are not compliant, and proceed with caution!

As a CDPE, you can trust that I have the tools to be in full compliance of FTC regulations, and will always work with your best interests at heart.

If you want viable alternatives to foreclosure, give me a call today. I’m always here to help!

[Video] What is HAFA?

What In the World Is HAFA

What’s happening in the housing market? What’s being done about it? Learn about the government’s new HAFA program, providing foreclosure avoidance options including short sales and deeds-in-lieu of foreclosure. Here’s the big picture, clearly explained.

Would you like to know if you qualify for HAFA? or any other Home Retention or Foreclosure Prevention programs? Click here for more info.

January 2010 California Foreclosure Report

I couldn’t have said it better myself. In January 2010 we saw that despite apparent declines in foreclosure filings, daily foreclosure activity is up on all fronts as the foreclosure stalemate continues. Publicly reported figures are not always the ‘whole’ truth.

Sean O’Toole from ForeclosureRadar.com put’s together a great market report which reveals the other half of the truth. Check it out!

January 2010 California Foreclosure Report

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CONSUMER ALERT!! – FORECLOSURE RESCUE SCAMS

If someone who is not your mortgage lender promises to save your home and asks for you to pay money up front, WATCH OUT. Fraudulent foreclosure consultants target homeowners who are behind on their mortgage payments.  Here’s what you can do to avoid becoming a victim:

  1. DON’T transfer title or sell your house to the foreclosure rescuer. Fraudulent foreclosure consultants often promise that if the homeowners transfer title, they may stay in the home as renters and buy it back later.  The foreclosure consultants claim that transfer is necessary so that someone with a better credit rating can obtain a new loan to preventforeclosure. BEWARE! This is a common scheme “rescuers” use to evict homeowners and steal all or most of their home’s equity.
  2. DON’T pay money to people who promise to work with your lender to modify your loan. It is unlawful for foreclosure consultants to collect money before (1) they give you a written contract describing the services they promise to provide and (2) they actually perform all the services described in the contract, such as negotiating new monthly payments or a new mortgage loan.
  3. DON’T pay your mortgage payments to someone other than your lender, even if he/she promises to pass the payment on to the lender. Fraudulent foreclosure consultants often keep the money for themselves.
  4. DON’T sign any documents without reading them first.  Many homeowners think that they are signing documents for a new loan to pay off the mortgage they are behind on. Later, they discover that they actually transferred ownership to the “rescuer.”
  5. DON’T ignore letters from your lender. Consider contacting your lender yourself, as many lenders are willing to work with homeowners who are behind on their payments.
  6. DO contact a housing counselor approved by the U.S. Department of Housing and Urban Development (HUD), who may be able to help you for free.  For a referral to a housing counselor near you, contact HUD at 1-800-569-4287 (TTY: 1-800¬877-8339) or www.hud.gov.
  7. DO consider contacting the Homeownership Preservation Foundation(HOPE), which assists consumers facing foreclosure, at 1-800-995-HOPE or www.995hope.org. HOPE is a non-profit organization that partners with community-basedorganizations, mortgage companies, and government agencies and is part of the HOPE NOW Alliance supported by the U.S. Department of Treasury and HUD.

IF YOU TRANSFERRED YOUR PROPERTY OR PAID SOMEONE TO “RESCUE” YOU FROM FORECLOSURE, YOU MAY BE A VICTIM OF A CRIME. Please file a complaint with the Attorney General’s Office at the following address:  Office of the Attorney General – Public Inquiry Unit, P.O. Box 944255, Sacramento, CA 94244, or online at www.ag.ca.gov/consumers

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListings™ MLS system and the Bay East Association of Realtors. All real estate listings in the MLSListings MLS system are marked with the MLSListings Internet Data Exchange icon (a stylized house inside a circle), and detailed information about them includes the names of the listing brokers and listing agents.

Listing information is deemed reliable, but not guaranteed.

Copyright 2012 MLSListings Inc. Copyright 2012 Bay East Association of Realtors. All rights reserved.

This IDX solution is (c) Diverse Solutions 2012.