| The Lowdown on the Mortgage Loan Restructure Process |
| Surely by now everyone has heard of the latest government programs addressing the sub-prime mortgage crisis; they may even realize that there are loan modification companies out there to aid in restructuring the terms of their mortgage. What most consumers do not know is exactly how the process works and what to expect during the process.
Remember that the mortgage servicer is not on the side of the homeowner. They are merely concerned with their own bottom line and have no incentive to patiently walk the average consumer through the process. 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 TODAY FOR THE HELP YOU NEED 1-866-661-7725 AND LETS GET YOU IN A PAYMENT YOU CAN ACTUALLY AFFORD! |
LOSS MITIGATION AT ITS BEST, MOST ETHICAL AND TRUSTWORTHY SENSE.
June 17, 2009THE TRUTH ABOUT LOAN MODIFICATION
June 17, 2009| The Lowdown on the Mortgage Loan Restructure Process |
| Surely by now everyone has heard of the latest government programs addressing the sub-prime mortgage crisis; they may even realize that there are loan modification companies out there to aid in restructuring the terms of their mortgage. What most consumers do not know is exactly how the process works and what to expect during the process.
Remember that the mortgage servicer is not on the side of the homeowner. They are merely concerned with their own bottom line and have no incentive to patiently walk the average consumer through the process. 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 1-866-661-7725 TODAY TO GET THE HELP YOU NEED, WITH AN EXPERIENCED ATTORNEY! |
GETTING THE HELP YOU NEED WITH A LOAN MODIFICATION
June 17, 2009Today it is hard to trust anyone. When choosing a Loan Modification always ask to speak to the attorney. Over half of the companies that say they are attorney backed, only have one attorney and they usually never see your package. Its cheaper to have a processor do all the work, and just have an attorney on standby. Well not at New Hope Mortgage Solutions LLC. They have a network of attorney’s that are very diligently screened before becoming apart of NHMS’s team. Not only do you need an attorney, but one with Loss Mitigation, and Foreclosure Prevention experience. Attorneys with experience, ethics, knowledge, and a very strong negotiation ability is what New Hope Mortgage Solutions LLC has in their corner. We have an amazing staff who take time with our clients right from the start. NHMS’s offers a free consultation to make sure the homeowners Debt to income and housing ratios meet the requirements for the new government programs. NEW HOPE MORTGAGE SOLUTIONS LLC. helps the client qualify for the government programs. They handle the stress, and the attorney’s negotiate for the homeowner. It is truly a perfect match….
Now to further touch on why you should have an attorney represent you during this very stressful process..
Let’s face it, this economy stinks! And this means that many homeowners are perhaps facing their first financial crisis and risk losing their homes. It also means that many are vulnerable to being ripped off by the crooks that always seem to appear in times like these!
In the last two years, the number of so-called “loan modification companies” has exploded and many homeowners are now considering using one of them to get their mortgage modified. Many times this can be a mistake simply because these companies do not know how to properly negotiate with the bank on the homeowners behalf. This is why it is important to only use a company that has experienced attorneys. Do not be fooled, at New Hope Mortgage Solutions we want you to ask to communicate with the attorneys.
An attorney can represent you in what is largely a legal process. A loan modification may enable the homeowner to reduce their interest rate and lower their mortgage payments. In many cases, it is also possible to actually get the outstanding principal reduced as well. This is especially true when there is a second mortgage involved and when the property is worth less than the outstanding mortgage.
One thing a lot of people don’t understand is that you must be employed to complete a successful loan modification. Unless, of course, you have another source of other income. After all, if you can’t pay your present mortgage how are you going to pay it after it’s modified?
It’s not uncommon to see attorney negotiate much lower rates for homeowners. Graduated payments plans are also popular. This is where a bank will approve a low rate for one year, increase it maybe one percent the second year, and then again for the remaining years. Many times they also agree to forgive overdue interest and penalties.
Remember, your home is at stake so always use an attorney for a loan modification. They will usually charge you a one-time flat fee regardless of the hours spent negotiating on your behalf. Money well spent to save your home!
VISIT NEW HOPE MORTGAGE SOLUTIONS WEBSITE FOR MORE DETAILS: Empower yourself with an experienced Loss Mitigation Attorney WWW.NEWHOPEMORTGAGESOLUTIONS.COM
CALL 1866-661-7725 TODAY!!
LOAN MODIFICATION COMPANY TRULY HELPS HOMEOWNERS HONESTLY AND ETHICALLY
June 17, 2009Today it is hard to trust anyone. When choosing a Loan Modification always ask to speak to the attorney. Over half of the companies that say they are attorney backed, only have one attorney and they usually never see your package. Its cheaper to have a processor do all the work, and just have an attorney on standby. Well not at New Hope Mortgage Solutions LLC. They have a network of attorney’s that are very diligently screened before becoming apart of NHMS’s team. Not only do you need an attorney, but one with Loss Mitigation, and Foreclosure Prevention experience. Attorneys with experience, ethics, knowledge, and a very strong negotiation ability is what New Hope Mortgage Solutions LLC has in their corner. We have an amazing staff who take time with our clients right from the start. NHMS’s offers a free consultation to make sure the homeowners Debt to income and housing ratios meet the requirements for the new government programs. NEW HOPE MORTGAGE SOLUTIONS LLC. helps the client qualify for the government programs. They handle the stress, and the attorney’s negotiate for the homeowner. It is truly a perfect match….
Now to further touch on why you should have an attorney represent you during this very stressful process..
Let’s face it, this economy stinks! And this means that many homeowners are perhaps facing their first financial crisis and risk losing their homes. It also means that many are vulnerable to being ripped off by the crooks that always seem to appear in times like these!
In the last two years, the number of so-called “loan modification companies” has exploded and many homeowners are now considering using one of them to get their mortgage modified. Many times this can be a mistake simply because these companies do not know how to properly negotiate with the bank on the homeowners behalf. This is why it is important to only use a company that has experienced attorneys. Do not be fooled, at New Hope Mortgage Solutions we want you to ask to communicate with the attorneys.
An attorney can represent you in what is largely a legal process. A loan modification may enable the homeowner to reduce their interest rate and lower their mortgage payments. In many cases, it is also possible to actually get the outstanding principal reduced as well. This is especially true when there is a second mortgage involved and when the property is worth less than the outstanding mortgage.
One thing a lot of people don’t understand is that you must be employed to complete a successful loan modification. Unless, of course, you have another source of other income. After all, if you can’t pay your present mortgage how are you going to pay it after it’s modified?
It’s not uncommon to see attorney negotiate much lower rates for homeowners. Graduated payments plans are also popular. This is where a bank will approve a low rate for one year, increase it maybe one percent the second year, and then again for the remaining years. Many times they also agree to forgive overdue interest and penalties.
Remember, your home is at stake so always use an attorney for a loan modification. They will usually charge you a one-time flat fee regardless of the hours spent negotiating on your behalf. Money well spent to save your home!
VISIT NEW HOPE MORTGAGE SOLUTIONS WEBSITE FOR MORE DETAILS: Empower yourself with an experienced Loss Mitigation Attorney WWW.NEWHOPEMORTGAGESOLUTIONS.
CALL 1866-661-7725 TODAY!!
LOSS MITIGATION COMPANY, SUCCESS FOR HOMEOWNERS
June 17, 2009Today it is hard to trust anyone. When choosing a Loan Modification always ask to speak to the attorney. Over half of the companies that say they are attorney backed, only have one attorney and they usually never see your package. Its cheaper to have a processor do all the work, and just have an attorney on standby. Well not at New Hope Mortgage Solutions LLC. They have a network of attorney’s that are very diligently screened before becoming apart of NHMS’s team. Not only do you need an attorney, but one with Loss Mitigation, and Foreclosure Prevention experience. Attorneys with experience, ethics, knowledge, and a very strong negotiation ability is what New Hope Mortgage Solutions LLC has in their corner. We have an amazing staff who take time with our clients right from the start. NHMS’s offers a free consultation to make sure the homeowners Debt to income and housing ratios meet the requirements for the new government programs. NEW HOPE MORTGAGE SOLUTIONS LLC. helps the client qualify for the government programs. They handle the stress, and the attorney’s negotiate for the homeowner. It is truly a perfect match….
Now to further touch on why you should have an attorney represent you during this very stressful process..
Let’s face it, this economy stinks! And this means that many homeowners are perhaps facing their first financial crisis and risk losing their homes. It also means that many are vulnerable to being ripped off by the crooks that always seem to appear in times like these!
In the last two years, the number of so-called “loan modification companies” has exploded and many homeowners are now considering using one of them to get their mortgage modified. Many times this can be a mistake simply because these companies do not know how to properly negotiate with the bank on the homeowners behalf. This is why it is important to only use a company that has experienced attorneys. Do not be fooled, at New Hope Mortgage Solutions we want you to ask to communicate with the attorneys.
An attorney can represent you in what is largely a legal process. A loan modification may enable the homeowner to reduce their interest rate and lower their mortgage payments. In many cases, it is also possible to actually get the outstanding principal reduced as well. This is especially true when there is a second mortgage involved and when the property is worth less than the outstanding mortgage.
One thing a lot of people don’t understand is that you must be employed to complete a successful loan modification. Unless, of course, you have another source of other income. After all, if you can’t pay your present mortgage how are you going to pay it after it’s modified?
It’s not uncommon to see attorney negotiate much lower rates for homeowners. Graduated payments plans are also popular. This is where a bank will approve a low rate for one year, increase it maybe one percent the second year, and then again for the remaining years. Many times they also agree to forgive overdue interest and penalties.
Remember, your home is at stake so always use an attorney for a loan modification. They will usually charge you a one-time flat fee regardless of the hours spent negotiating on your behalf. Money well spent to save your home!
VISIT NEW HOPE MORTGAGE SOLUTIONS WEBSITE FOR MORE DETAILS: Empower yourself with an experienced Loss Mitigation Attorney WWW.NEWHOPEMORTGAGESOLUTIONS.COM
refinancing is a thing of the past, why would you refi………….MODIFY!!
June 13, 2009
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
How can you get help in qualiying for a loan modification …..
June 12, 2009I get asked alot by of our clients “How do I know if I qualify for a Loan Modification”. To me I am glad the general public/ homeowner is not starting to become aware that, yes there are factors that you have to qualify for in order to get a Loan Modification. A couple of years ago I do not think people realized as much that the banks do have ratios, Housing, Debt to income, and income v/s expenses that all have to be fulfilled in order for them to allow a loan modification. The hardship letter is also a very important piece of the puzzle. What irritates me more then anything are the companies that give ethical, honest, and very good Loan Modification companies a very bad name. I will tell you why, It angers me and frustrates me to no end, that any company would except, take on or allow a client to go into a Loss Mitigation case without checking all of these first. The homeowner is scared, stressed and lets face it uneducated about the process of Loss Mitigation. Not due to anything that is their fault, its just Loss Mitigation is too new for them to know. Consequently leaving them open to t he “scam artist ” in the industry. If you are interested in finding out if you have what it takes to be qualified for a loan modification, then call Angella (president) at NEW HOPE MORTGAGE SOLUTIONS LLC. Today. Spending time with a client you, and finding these things out before hand is crucial for a successful case. New Hope Mortgage Solutions offers a FREE and extensive consultation with the client..
You will know if you have what it takes to get help. Another thing that frustrates me is the homeowners who actually think they can do a loan modification without knowing these residual numbers, or how to negotiate with their lender properly. The banks give a homeowner one shoot at a full term, fixed re- modification for their mortgage. It would be in their best interest to allow an experienced Attorney with only “Loss Mitigation” experience. As a homeowner I know your home is your mist precious asset. Your Modification should be treated the same way…
Call: 1866-611-7870 today to see if you can start saving your future now…ask for Angella!
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