The Making Home Affordable Program is no longer available to folks with non-Fannie/Freddie mortgages who have been convicted of real estate related crimes, including tax evasion, money laundering or felony larceny fraud or forgery. New applications for the program must include an affidavit called the Dodd-Frank Certification (that’s right, one more form!) that clarifies the [...]
Often homeowners need more time and seek to delay the foreclosure process – to get more time to settle on a Workout Plan that suits them. These are the Top 7 ways to buy more time.
Constant communications with lender – That’s right, good faith communications about your plans and actions to resolve your situation and [...]
In 2010 we got the news that Fannie Mae has instituted the “Deed for Lease” Program. This is a great innovation that may make the “transition” from homeownership to rentership easier for families.
The Program allows borrowers to transfer their property back to the lender in a Deed-in-Lieu, then lease back the house at [...]
The Obama administration is “basking in the glow” of some impressive numbers of loan modifications during the June-September time frame. The “trial modification initiative kick-started the fledgling Making Homes Affordable Program and its modification section called Home Affordable Modification Program.
The numbers out today claim the Program has now reached one in five eligible homeowners, but [...]
Many of our clients are bankrupt…they just don’t admit it to themselves and they have not yet filed – and, maybe never will. It’s too bad, because they could be enjoying the protections our legal system affords them…protection and relief for when financial things have gone awry
As part of a foreclosure workout strategy you [...]
For the third time this month, we witnessed HAMP loan mod success through escalation. Three clients, declined for a permanent mod after being on a HAMP Trial Mod were able to get their application reinstated and win approval. All three followed a successful formula for escalating to the CEO and to their Congressman. Wow! I [...]
That Notice of Default you just received is the beginning of a great adventure. It is the first official step in a long and arduous process that protects you from SOME bad things yet exposes you to others. It humiliates and insults you, yet protects you and provides ample time for you to settle on [...]
If you are one of the more than 100,000 homeowners who received a Notice of Default in July, you are dealing with some strong emotions like fear, embarrassment, frustration, despair, and anger. Not nice! These can do a ton of damage to your life – OR, they can propel you into action to defend yourself, [...]
Nobody wants to go on record as being the first to say something nice about BofA…but, I can’t help it. For months now I’ve been watching them gradually improve the responsiveness and professionalism of the Equator System for short sales support and their huge loan modification process. There was a time, about 18 months ago [...]
We’ve been working for months to craft our Do-It-Yourself Forensic Loan Audit. It turned-out to be more complex than we anticipated AND we met with much more opposition (from lawyers and auditors) than we anticipated. But, we are almost there and hope to send it to the printers in August.
In the meantime, we continue to [...]
