I read one more article referring to the US government’s touting success of their Making Home Affordable program. How much more laughable can this be? 650,000 trial or permanent modifications divided by the government estimated 4 million eligible distressed mortgages calculates to less than a 1% success rate. Trial modifications are an invention of the Home Affordable Mortgage Plan, or HAMP.
Apparently, the lenders mail their troubled asset recovery offers in the same envelopes they mail their payment demands. What would you guess the open rate is for those?
The federal government has made it clear that they will not do anything to make the lenders negotiate a mortgage modification or short sale in good faith. They can and will sandbag you to distraction. They sandbag attorneys just as much.
Currently, the spectacular solution to negotiating a mortgage modification is the REST Report. The REST Report uses the same software the banks use to evaluate the NPV, or Net Present Value to calculate the most beneficial resolution to their troubled asset: mortgage modification or short sale. It is proving to be a magnificent tool in a foreclosure defense. We’ve run 4000 REST Reports to date, with zero failures. None, Nada.
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The internet being what it is, certain search terms need to be empahasized so that you can find the best information. The REST Report is best classified as loan modification software, or mortgage modification software. It’s claim to fame is that you use it to calculate Net Present Value exactly the way the banks do, using the same software. It is best used as a do it yourself loan modification or do it yourself mortgage modification. For some reason, loan modification 2010 and mortgage relief 2010 are popular search terms.
This YouTube video says it all. Go here: How to Get A Beneficial Loan Modification Now Please ‘Like’ the video, will you? That makes it easier for others to find.
Read Mandelman here
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Are you still believing the mortgage modification success by the federal government? – http://www.mortgage-mod-monster.com/?p=405
Are you still believing the mortgage modification success by the federal government? –
http://t.co/ziDG0FJy
Are you still believing the mortgage modification success by the federal government? – http://t.co/ziDG0FJy