Unfortunately, there are so many people that feel as though they do not want their house anymore. They just want to let it go into foreclosure and the bank can have it. This is a TERRIBLE option. Just giving up on paying your mortgage is not a good option.
There are so many options out there is [...]
Over the course of the last month, I have received numerous phone calls from prospective clients regarding loan modifications. I have been told over and over that they were offered a 100% guarantee on a loan modification by either another attorney or a loan modification company. This is my response, “RUN!” There is NO ONE who [...]
There has been a lot of discussions recently about whether people should walk away from their mortgages. Should people just lock the doors and move on? Should people stay in a home that is “underwater” and hope that the market rebounds? Should people sacrifice everything else in their lives to make sure they can keep [...]
There are so many people who are unsure of whether or not they should refinance their mortgage. There are pros and cons to refinancing and the reasons behind refinancing your mortgage should be good. There was an article today at Walletpop called Top 10 Tips For Loan Refinancing. This was one of the best articles I [...]
The short answer here is NO! It is our policy that you should always make your mortgage payments. Failing to pay your mortgage is the fastest and most direct route to financial ruin, bad credit and the inability to buy another home when times get better. There are no exceptions to this rule, however sometimes [...]
With so much information and mis-information out there, I thought that I would take the time to explain the loan modification process in-depth. There are so many steps to getting approved for a loan modification and any misstep in the process can result in your package being denied.
Many financial experts and advisors cannot figure out why [...]
The general idea behind Loan Modifications as put forth by President Obama was noble and much needed however the implementation of the idea is riddled with holes, hurdles, and hazards.
Problem 1
The Making Homes Affordable Act and the Guidelines set forth by President Obama make obtaining a loan modification difficult for those borrowers who are/were the [...]
The Court System is finally standing up for the little guy! Recently, the Southern District of New York ruled in favor of a borrower who was being foreclosed upon by their mortgage bank because the bank could not prove they owned the mortgage.
History
Years ago, lenders conspired to bypass the mortgage recording systems put in place by [...]
This is the second most common question I am asked every day (the first one being: Do I Need To Hire An Attorney To Do A Loan Modification?). A loan modification USUALLY takes between 60 and 90 days. Usually. The banks have been known to take less time and sometimes they take as much as 120 [...]
