Loan Modification Is Helping America Keep Their Homes

Real Estate Loan Negotiating Services, LLC announces their loan modification program to all consumers, not just those facing foreclosure. Today's economy has put consumers at a disadvantage with their current mortgage lenders. RELNS will assist you in negotiating with your mortgage holder and modifying your current mortgage. By negotiating the terms of your loan note, you are not required to go through the process of a new closing. What that means to you as a consumer is no closing costs! There is no refinancing involved. A loan modification will simply change any or all of the following terms of your loan: your interest rate, balance of loan, delinquent fees owed and term of loan. A plethora of consumers have found themselves in need of a loan modification, and not just those facing foreclosure. In the past you were required to be delinquent on your mortgage, but more and more often we are seeing the ability to negotiate the terms of your note without the requirement of delinquency. Not only does this process work to help people avoid foreclosure, but it can also assist someone who is simply paying too much by making your monthly payments more affordable. We can help you stay in your home at a payment you can afford.

We specialize in only one job: saving homes and families by keeping you in your home. We are experts in the loan modification industry. We do nothing else. No games, no funny business. We do not refinance loans. We do not buy houses. We can help people affected by Bankruptcy or foreclosure by modifying their loans. Our single objective is to help you keep your family in your home. You need professional legal help.

Although it is possible to modify your loan by yourself however, it is far more complicated than most people are aware. By hiring a professional firm to assist you there is a better opportunity to assure you are receiving the best terms available. We are not emotionally involved and our experience in the loss mitigation and loan modification industry gives us the advantage in this complex process. We will negotiate better terms and accomplish it far faster. You have an advocate on your side, and we are committed to getting you the best terms available to you.

At RELNS, we treat our clients with courtesy, compassion and integrity. We always guarantee realistic and honest financial advice that achieves results, you'll know what to expect every step of the way and can rest assured in knowing that your loan modification specialist is among the most highly trained in the industry. Our years of experience and notable expertise ensure that your financial future is in good hands.

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Is Debt Settlement The Answer?

Keeping up with the Jones' has caused many Americans to lose sight of the potential pitfalls and burdens that are caused from having too much debt. Over the past 25 years, total debt has doubled as a percentage of disposable income. Up until the early 80's, America has had the distinctive advantage of continuous, steady increased income decade over decade. However, with the advent of the internet; economic globalization; and corporate profits, Americans' income finally stopped increasing. Keeping up with the Jones' is part of American culture. We are the heaviest consumers. We are the largest (soon to drop to 2nd largest) economy in the world. In spite of this fact, we've had a negative savings rate.

With unemployment in the double digits and foreclosure rates continuously climbing, what's an average American family to do? Now get this, we Americans are the proud and distinguished owners of over 1 TRILLION dollars in household credit card debt! Chase alone owns over $167 BILLION dollars of general purpose credit card debt with $780 Million in profit on this debt!!! The average American household had $10,679 in credit card debt at the end of 2008. Paying the minimum payment of $268 per month, at 18% interest, it will take that average American household 25 years and 7 months to payoff; including another $14,196 of interest!

In my opinion, debt settlement is the answer. Debt settlement allows you to settle your debt usually from 24 to 48 months. There are many companies that provide debt settlement; however, there are some negative issues that may come up. With many small debt settlement companies, some of the large debts you have may end up getting a judgment against you since they don't want to wait 3 or 4 years to get paid. partners with the largest debt settlement group in the nation eliminating a lot of the headaches and problems previously associated with debt settlement. The client is in complete control via an online portal monitoring every step of the way! This is revolutionary to the debt settlement industry as we are backed by a hedge fund company that backs and purchases debt to avoid previous issues. Also, the client is provided with 60 hours of court time via our attorney network. The client is in the driver's seat as they monitor all progress via an online portal.

Debt can be debilitating to a family. In so many cases, the money going out of the family budget is just to pay interest. In my opinion, debt ruins lives. It takes over and before you know it, there's no way out except via Bankruptcy. That ugliest of financial words! You can avoid Bankruptcy by using debt settlement. For example, on that same 10,679 debt load, debt settlement will have you out of debt and on your way to debt free in as little as 24 months paying less than the original minimum payment of $268 at $244. At 36 months, your payment will be $163! And best of all, you'll be debt free! The feeling of debt free is truly liberating!!!

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Common Signs of Loan Modification Scams And How to Avoid Them

For those considering loan modification, times have likely been better. Generally, people only seek information on modifying their loans after having some difficulty keeping up with their mortgage payments and other bills. They see this as an option to stay in their homes and continue getting their finances back on track. Unfortunately, some loan modification companies are preying on these individuals with false promises and guarantees that are too good to be true. Since the Home Affordable Modification Program, or HAMP, began many opportunistic individuals, including some loan modification attorneys, have attempted to profit. Here are some warning signs that one of these loan modification companies is attempting to add you to their list of victims. 1) They ask for upfront payments. This is one of the most important flags because of its predatory nature, and also because it is illegal to ask for money before their work on the modification has begun. Also, you should never make your monthly payments to the loan modification attorney or any other third party. Your loan is still serviced by the lender and that's where your payments should be sent. 2) They offer results that are too good. While the purpose of the program is to reduce your monthly payments to an affordable amount, either through spreading out the repayment period, reducing interest rates or reducing the principal, if the offer sounds exceptional then be wary. Any "guarantee" or "promise", whether it is an end to foreclosure proceedings or even acceptance into the program, should be approached with caution. 3) They can't, or won't, explain the services they are going to do. While the loan modification process can sometimes seem difficult or tedious for homeowners, the process is relatively straightforward. Your lender supplies a packet that must be filled out, generally including an authorization to release tax information, proof of income and bank statements, as well as an explanation of why you are having difficulty making the payments. There is no mystery or secret to the process and any reputable loan modification company should be able to explain the process to you. Loan modifications can be confusing to many people but guard yourself against potential scams by watching out for upfront payments, too-good-to-be-true results, and mysterious methods.

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Modification Of Mortgage - The Hows And Whys Of Mortgage Modifications

Mortgage modifications (also referred to as a "loan modifications") may be a solution for homeowners facing a difficult financial situation. A modification is a change in one or more terms of an existing mortgage loan. Before considering this solution, it is important for a borrower to understand modification of mortgage procedures before contacting their lender. Depending on your situation, you may want to consider seeking guidance from professionals in this area.

WHY? Homeowners typically consider changes to their existing loan terms to obtain a lower monthly payment and avoid defaulting on the loan. By lowering the monthly payment, the homeowner can stay in their home and have a loan payment that fits within their budget. Changes in terms may lower the interest rate, lengthen the repayment term, or reduce late fees. Banks are willing to consider modifications to avoid the costs associated with the foreclosure process.

HOW? Decide whether you are going to handle the mortgage modification yourself or use a professional (such as an attorney) to negotiate with the lender. Modification of mortgage procedures can vary from one lender to another. If you are handling the modification yourself, learn about your lender's process (and modifications in general) before contacting the lender. The lender's employees handle loan modifications every day, so you need to understand how to work with the lender and negotiate a favorable result for yourself.

For most lenders, a loss mitigation department handles mortgage modifications. This department will have guidelines defining the modification of mortgage process for the lender. If you are handling your own modification, be sure you understand these guidelines and provide the lender with the required information. Also, keep written records of your telephone conversations and other dealings with the lender.

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Doing Your Own Loan Modification Saves Money, And May Be Easier Than You Think!

No doubt you have been affected somehow by the global credit crash. It has had a ripple effect throughout America, particularly upon the working class. This crisis has left many unemployed, with those out of work finding it tougher and tougher to get a new job. Inflation has taken its toll on the American economy too, driving up the costs of food, gas, and other goods, as the U.S. suffers through its deepest financial setback since the 1930s.

Inflation means a tougher time with paying the bills all around, and the biggest bill for many of us is the monthly mortgage payment. More and more Americans are filing for Bankruptcy in order to keep their homes. For many presently fighting a battle with foreclosure, Bankruptcy appears to be the only solution. Before you file your claim with the Bankruptcy Court, though, be sure you have considered the mortgage loan modification option.

For a surprising number of homeowners, modifying the loan lets them renegotiate the terms of the agreement, especially the monthly payment. Lending banks prefer less money to none at all, so this approach can work out well for lenders and borrowers alike.

For some of us, getting legal support is the best option, as loan agreements can be confusing to the point of overwhelm. However, you can modify the loan yourself. If this cost-saving prospect appeals to you, consider the following important points:

There is only one shot at modifying your loan, so be certain that you are including everything you want out of the deal. An enterprising homeowner needs to study the methods of lenders and banks in order to appreciate the full range of options, and thus to get the best possible deal. Being fully aware of the gamut of possibilities greatly improves your chances of getting a substantial modification. While the ultimate goal is a reduction of payment and interest rate, you will do well first to understand your bank's limits. Applying for a rate below the limits will not get you what you want, and it may reduce your odds of getting the bank to work with you on modifying your terms.

By doing your research in advance, however, it is not too difficult to negotiate your own loan modification without relying on a third party.

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Why Doing It Yourself Is Key To Getting Your Loan Modified

When you buy a house, you hire an attorney. When you need your computer fixed, you hire geek squad. In general whenever you are faced with something you don't know, you get an expert to help you. It is the opposite when trying to modify a home loan. Hiring an expensive firm to do your loan modification is the worst mistake you can make. There are a couple of reasons why.
Firstly, firms often charge thousands of dollars and in the end bring in less then stealer results. This leaves you in a bind. Not only did you fork over thousands of dollars for their services, you are also in a worse situation than you started in.
Secondly, when lenders see that you have hired a firm to do your loan modification, it sends red flags. They automatically think if you have thousands of dollars to shell out on a firm, then you are not in a bad financial situation. Either they dismiss your application, or put your application in a place where no one will ever find it again.
Lastly and most importantly, loan modification is a one time thing. If your application gets rejected the first time, it will be almost certain that it will be rejected again.
On the other hand you can't just expect your loan being modified with out knowing the subject inside an out. Your lender will reject your application if not done properly, and with out knowing what to say, they won't take you seriously. This might be the last chance to save your house, you need to be prepared.
The solution is 60 Minute Loan Modification kit. 60 minute loan modification was created by a loan modification expert who modified numerous homes for himself and his clients. It provides all the forms, show you how to write a professional hardship letter outline that will get your lenders attention, and even has a taped conversation of a lender talking to a borrower so you can hear exactly what you should and should not say to ensure you end up with what you wanted. It has everything you need.

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How To Defeat Hsbc: A Case Study

HSBC Bank v. Valentin, Ruiz, et. al.
859 N.Y. S. 2d 895
Decided on 08 November 2008

This case is a renewed application for an order of reference? for a specified property located in Brooklyn, New York. Originally, this application was already denied by the Court in its Order dated 30 January 2008 but with permission to renew upon compliance with the recitals therein.

The factual backdrop is as follows: Defendants Valentin and Ruiz borrowed $340,000 from Delta Funding Corporation, both mortgage and the note was duly recorded in the Office of the City Register, N.Y. in 2005. Delta's nominee, Mortgage Electronic Registration Systems, Inc. (MERS) assigned and recorded the mortgage and note to Plaintiff HSBC in 2007.

Plaintiff submitted as documentary evidence an affidavit of J. Dybas alleging therein that she is the Foreclosure Facilitator of OCWEN LOAN SERVICING, LLC. It was further claimed that OCWEN is the servicing agent and attorney in fact of the holder of the note and mortgage. Dybas, not being an officer of OCWEN is not the party referred within the ambit of the "affidavit made by the party" under Civil Practice and Law Rules (CPLR) ? 3215(f).

An affidavit of Scott Anderson as Vice President of MERS admitting assignment of the note and mortgage was also submitted. However, the Court observed in another case it heard that Anderson in an affidavit represented himself as Vice President of OCWEN and with the exact office address. This case involved the very same parties, HSBC, MERS, and OCWEN. Yet in another case of foreclosure involving Deutsche Bank and Goldman Sachs, the same address for Goldman Sachs and the assignee appeared in the assignment. Thus leading the Court to believe that there appeared to be a likelihood of fraud or malfeasance on the part of HSBC.

The Court denied the application but granted Plaintiff, leave of court to renew the application within forty five (45) days by submission of the following documents:

a) An affidavit of facts by either an officer of HSBC or someone with a valid power of attorney from HSBC, possessing personal knowledge of the facts as required by the (CPLR) ? 3215(f).

b) An affidavit from Scott Anderson, describing his employment history for the past three years;

c) An affidavit from the officer of HSBC explaining the reason HSBC would purchase a nonperforming loan from Delta Funding.

In compliance with the aforesaid Order, the renewed application for an order of reference was filed. Anderson of OCWEN submitted an affidavit alleging that OCWEN was in fact granted the limited power of attorney to execute affidavit of merits in connection with foreclosures in Renaissance Home Equity Loan Trust; albeit a copy of the power of attorney was attached to it and submitted to the Court, counsel for the plaintiff failed to certify the same.

And more importantly on the issue as to the reason why a nonperforming loan was purchased by HSBC, Anderson explained that the loan was transferred in 2005 from Delta to HSBC as Trustee when it was performing, with MERS as nominee in title.

The Court ruled that Anderson was lying because it was on the basis of the assignment of the loan by Anderson from MERS to HSBC that recordation was made before the Office of the City Register, N.Y. in 2005 as well as its transfer of title by him as Vice President of MERS to HSBC at the OCWEN office in 2007, in his capacity as servicer. Clearly, Anderson acted both as assignor and as servicing agent.

? An application for an order of reference is a preliminary step in obtaining a default judgment of foreclosure and sale (Home Sav. Of Am., F.A. v Gkanios, 230 AD2d 770 [2d Dept 1996]). In an order of reference, it allows the Court to appoint a referee to compute the amount due to the plaintiff when the defendant fails to appear or when he admits of the arrears in mortgage payments. See Real Property Actions and Proceedings Law (RPAPL) ? 1321

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