Loan modifications are tedious and time consuming. It is a huge relief when you have finally gathered all paperwork together and submitted it to the bank. It is an even bigger relief when the bank agrees to modify the loan. The bank will give you the terms of the modification to review. Many times, there […]
Harassed by Bankers and Lenders? We Can Help!
If you are finding it difficult to keep up with your mortgage payments, you do not have to resign yourself to the inevitability of a foreclosure. There are other possibilities, and an experienced loan modification attorney in Los Angeles can guide you in the right direction. One option that is available is the Fannie Mae […]
Real Estate Loan Modification
Failing to meet your mortgage obligations can lead to possible foreclosures and bankruptcy filings. Fortunately, a loan modification is an available option that allows debtors to remain in their homes while getting back on track financially. A loan modification is a change to the original terms of a loan that often results in more affordable […]
CACB Loan Mod Management Program – A Loan Modification through Bankruptcy
Homeowners who are currently in an active bankruptcy or plan to file and are behind on their mortgage can look forward to a newly launched program called the Loan Modification Management (“LMM”) Pilot Program. Borrowers can be reviewed for a modification in conjunction with a bankruptcy under the supervision of the courts. With the Home […]
Loan Modification v. Short Sale: Choose Wisely
Money problems can come out of nowhere. Whether you or a family member have lost a job, accrued costly medical bills or are experiencing other financial setbacks, the fear of losing your home because you can’t make your mortgage payment can be terrifying and overwhelming at a time when things are already looking down. Fortunately, […]
Home Affordable Modification Program
The Home Affordable Modification Program, or HAMP, is ending on December 31, 2016. The program has helped an incredible 5 million homeowners avoid foreclosure through mortgage assistance programs. And the current timeframe still allows homeowners to take advantage of the program. If you are in need of mortgage modifications, now is the time because the HAMP program ends on December 31, 2016.
Approved or Disapproved: How The Bank Decides Your Loan Modification
Have you ever wondered why you have been approved or rejected on your loan modification application? How does the bank decide whether to grant you with loan modification? In this 5-minute video, a pre-foreclosure attorney from the Legal Services Center of Harvard Law School explains briefly the different guidelines the bank follows in their decision-making:
Fannie Mae and Freddie Mac’s New Life Vest for Underwater Homeowners
Fannie Mae and Freddie Mac are issuing new guidelines for mortgages in early November to provide homeowners with a much simpler way to know if they qualify for a short sale. These guidelines are designed to streamline the difficult process so that struggling people can get help faster. It’s a sort of “cheat sheet” for […]
What Congress Has in Store for California Homeowners
Homeowners that are interested in loan modification or short sale should be familiar with the expiration of the mortgage debt cancellation provision, which ends Dec. 31, 2012. The mortgage debt forgiveness issue is only one of approximately 60 expiring tax provisions that Congress appears unable to extend prior to its recess for the November elections. […]
New Anti-Deficiency Protection for Refinance Loans Made After January 1, 2013
Starting January 1, 2013, a new California law will protect homeowners who default on their refinance loans from personal liability for any deficiency following foreclosure. Existing anti-deficiency law protects a borrower from personal liability for the difference between the principal balance and what the lender receives at foreclosure if the loan is a purchase money […]
