Mortgage-Mod-Monster.com

Loan Modification Treachery Continues

admin — Fri, 27 Jan 2012 16:24:44 +0000

Distessed homeowners anticipating that a clogged foreclosure pipeline would persuade their mortgage servicers to negotiate loan modifications are out of luck. According to Moody’s Investors Service, as lenders work through more and more of their foreclosures, they’re still avoiding loan modifications in favor of short sales and deed-in-lieu (DIL) transactions. Among lenders with high loan modification rates, the re-default and re-modification rates are unusually high. Of course, with this statistic, no one ever hears about the terms of those loan modifications. It has been shown in the past that many loan modifications were doomed from the strt becuase of unattainable terms to begin with. Ocwen’s re-default rate is so high that Moody’s report stated that it “calls into question Ocwen’s process in evaluating borrowers for modification.”

BofA has been using its loan modification settlements to circumvent a fraud probe in Arizona. In exchange for a loan modification with the lender, borrowers “must agree to keep [the terms] secret and not criticize the bank.” Many of these loan modifications reportedly include cash payments. Moody’s report did not distinguish between BofA loan modifications in Arizona and elsewhere in the country. The non-disparagement clause appears largely intended to address negative postings that borrowers may have made on social networks about the lender. Never mind that the loan modification rate among eligible mortgages still hovers around one percent.

The simple conclusion here is that the REST Report is still the solution. No one should have to pay for their do it yourself loan modification, but it’s the single most efficient way to combat the treachery of the mortgage servicers. Understanding that once the do it yourself loan modification is filed as a legal file, tht the servicer is not entitled to collect and mortgage payments, late fees, or attorney fees makes the REST Report essentially free because it will take a few months for the mortgage servicer to work their way through the application.

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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. loan modification and short sale are beneficial foreclosure alternatives that benefit both homeowner and mortgage investor and make the mortgage servicer do the loan modification process in good faith. They must comply with the mortgage relief act in the mortgage loss mitigation process. I have offered loan modification services for three years. Our loan modification success is 4000 successes out of 4000 submissions. I’ll be happy to send a loan modification example in the form of a sample REST Report. I also have a proven loan modification hardship letter developed over three years of practice.

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 it here

tags: do it yourself mortgage modification,do it yourself loan modification,loan modification software,mortgage modification software,foreclosure alternatives,loan modification hardship letter,calculate net present value, mortgage relief act, rest report,mortgage loss mitigation, loan modification process,loan modification services, mortgage loss mitigation, loan modification success, loan modification example,

One Big lender gets held accountable for neglecting a distressed homeowner

admin — Sat, 14 Jan 2012 18:45:09 +0000

Martin Andelman writes today chronicling the insufferable ignoring and avoidance of one homeowner by a well-known mortgage loan servicer. Specifically, this lender/servicer initially was bound by the Making Home Affordable Program. Just as soon as they could, they bought their way out of that obligation. Coincidentally, obtaining beneficial, affordable mortgage modifications became almost impossible. I’ve heard many stories similar to the homeowner’s experience here.

Now, I’ve decided to omit the specific lender out of my posts. If the reader insists, they can click the link to the article. My point is that it really doesn’t matter who the lender is. Every one of them, save a few local credit unions that are much more beholden to local mortgage holders, are doing everything they can to stall and avoid any loan modifications. I hear and see a host of avoidance methods every day.

A national attorney like the ones I represent would prevent the story from occuring if the homeowner had enlisted one (like mine). Mr Andelman has stated that in the past, and essentially states it again here.

In this case, a court judge found the lender/servicer’s behavior “Mortifying abuse… completely devoid of good faith… harsh, repugnant, shocking and repulsive. The judge described Ms. Dickinson (the lender’s representative in court) as having an “opprobrious demeanor and condescending attitude”. Mandelan actually looked up all these words. I say don’t bother. The reader can probably guess that none is good.

One interesting point here is that the bank can lose any document they choose to stall a mortgage modification. They can say they mailed an approved mortgage modification package back to the distressed homeowner.
No one has yet to hold a lender/servicer to account for those claims. I can say however, that no lender ever says that to my national attorneys. Funny how they can lose any homeowner-submitted documents, or those of the government vaunted free mortgage modification services. But they never, ever seem to misplace our national attorney-submitted documents. They never seem to lose any new mortgage application documents either. Coincidence? Hmmmmm………….

If you have the time and curiosity to read the particulars, help yourself.
If you’re a distressed homeowner, call me or submit my form and I’ll usher you to the front of the line after qualifying you with our US Dept. of Justice-approved software.
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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: target="_blank">How to Get A Beneficial Loan Modification Now Please ‘Like’ the video, will you? That makes it easier for others to find.

Read it here

tags: do it yourself mortgage modification,do it yourself loan modification,loan modification software,mortgage modification software,foreclosure alternatives,loan modification hardship letter,calculate net present value, mortgage relief act, rest report,mortgage loss mitigation, loan modification 2010, mortgage relief 2010, foreclosure alternatives, loan modification process,loan modification services,

Originally posted 2009-11-25 22:00:56. Republished by Blog Post Promoter

Get the Nation’s Recognized Number One Expert on Suit for Broken Chain of Title

admin — Sat, 14 Jan 2012 18:45:08 +0000

Max Gardner is the recognized uber-expert in the foreclosure defense legal arena. out of 102 court suits against banks that have violated the UCC laws, he has won 101 of them. This is a spectacular record; equal I believe, to Perry Mason.

Now, people have two opportunities to learn at his knee; in person in New York, and on video from his presentation in Las Vegas a few months ago. No one, anywhere in this country, advises trying any of this without legal counsel. But because I’ve had so many calls about this strategy, I pass on this information.

If you are interested in a broken chain of title suit, you can only finish with two conclusions. You can have the lingo in your possession, and “Do not try this at home.”

Max basically gives attorneys his thirty-year law practice in a box with easy to follow assembly instructions and ongoing support. Max, along with his faculty of expert guest speakers, will be delivering a specially designed in-depth session laser focused on the topic of the UCC’s impact on mortgage securitization… specifically tailored for New York state law. This on November 19th & 20th at the
New York Law School, New York City.

You must attack the secured status of the Trustee of residential mortgage backed securitized trusts and you must challenge the mortgage servicer’s standing to foreclose. In order to make these types of challenges in court, you must have a thorough understanding of how securitization is supposed to work and then determine whether the proper procedures were followed for your mortgage.

To understand how securitization is supposed to work, you must have a thorough understanding of UCC Articles 3, 9 and 1-302. This session will present the most comprehensive look at the UCC and its impact on foreclosure defense.

In order for a residential mortgage to be properly securitized within a trust, the note needs to have been properly assigned by ALL parties to the transaction. By now it should be clear to all involved that, in reality, this rarely occurred during the last decade.

Various Articles of the Uniform Commercial Code cover aspects of how a residential mortgage note in a securitized transaction should be transferred. Max is of the opinion that a residential mortgage note is NOT a negotiable instrument under Article 3 of the UCC and that Pooling and Servicing Agreements actually constitute “otherwise agreed” mandatory methods of perfection as permitted by Article 1-302 of the UCC.

According to one of Max’s recent articles…

“A review of all of the recent “standing” and “real party in interest” cases decided by the bankruptcy courts and the state courts in judicial foreclosure states all arise out of the inability of the mortgage servicer or the Trust to “prove up” an unbroken chain of “assignments and transfers” of the mortgage notes and the mortgages from the originators to the sponsors to the depositors to the trust and to the master document custodian for the trust.
As is likely stated in the PSA, however, the parties have represented and warranted that there is “a complete chain of endorsements from the originator to the last endorsee” for the note. And, the Master Document Custodian must file verified reports that it in fact holds such documents with all “intervening” documents that confirm true sales at each link in the chain.”

The agenda includes:

Fannie & Freddie’s Securitization Model & Master Trust Agreements

The Ginnie Mae Securitization Model

Master Servicers, Primary Servicers, Back-Up Servicers, Default Servicers, Speciality Servicers and Sub-Servicers

The REMIC Tax Act of 1986 and REMIC Tax Opinions

Role of Pooling & Servicing Agreements & Section 1-302 of the UCC and PSA

New York and Delaware Trust Law

Custodians and the Custodial Guide & Agreements

The Mortgage Electronic Registration System – MERS as Original Mortgage , MERS as Assignee, the Agency Theory of MERS, MERS and Delaware Corporate Law

What is a Negotiable Note Under Article 3 of the UCC?

Section 2.01 of the PSA and Non-Negotiability

Article 9 of the UCC and Mortgage Notes

Mortgage Loan Sale Agreements, Mortgage Schedules as Defined by the PSA and the Mortgage Custodial File as Required by the PSA

Speakers at the New York City seminar include:

Judge Arthur Schack – New York Supreme Court Justice who has gained notoriety for taking the unusual stance “If you are going to take away someoneʼs house, everything should be legal and correct.”

Hon. Samuel L. Bufford – a former United States Bankruptcy Judge in the Central District of California, where he served for twenty-five years and presided over nearly 100,000 cases. Widely regarded as one of the foremost scholars of U.S. and comparative insolvency law, his teaching interests include bankruptcy, international and comparative insolvency law, commercial transactions, and international business transactions.”

Tara Twomey – Of Counsel to the National Consumer Law Center and the Amicus Project Director for the National Association of Consumer Bankruptcy Attorneys. She is currently a Lecturer in Law at Stanford, and has previously lectured at Harvard and Boston College Law Schools.

Thomas Cox – The attorney responsible for setting off the temporary freeze against foreclosures.

Richard Shepherd – Former Vice-President and General Counsel for Saxon Mortgage (now Morgan Stanley)

Margery Golant – Former Assistant General Counsel at Ocwen Financial Corporation and Department Manager of a major plaintiffʼs foreclosure firm

Jay Patterson – A leading Certified Fraud Examiner and Forensic Accountant.

To-date, Max Gardner has trained more than 800 attorneys to better represent homeowners against banks and mortgage servicers. But, if you missed Max when he was in Las Vegas last year with Operation Strike Back, you don’t have to miss out on the training. You can still get that education by purchasing the event on video. It’s the next best thing to being there, at a fraction of the cost.

Get Max’s Las Vegas video.

Of course, a complete, court-recognized REST Title Search would be a pre-requisite to any attorney consultation. You just can’t afford to waste their time.
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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 Property Solutions Report is best classified as a real estate title search to prove broken chain of title in a court suit. Synonyms include clear title, quiet title, assign title, assignment of title, and try title, depending on what state you’re in. The REST Report is used to calculate net present value using the mortgage servicer’s own software for the mortgage trust, allonge and allonges. The REST Report is independent mortgage advice and more efficient than a forensic loan audit. Chain of title and the now endemic broken chain of title has been mandatory to sell a property since the Magna Carta in 1066.

This YouTube video explains the Broken Chain of Title, short sale, cloud on title situation

This page explains the Broken Chain of Title Property Solutions Report
It is a pre-requisite to any attorney consultation for this strategy.

Read it here

tags:allonge, mortgage trust, try title, allonges, clear title, quiet title, calculate Net Present Value, chain of title, assignment of title, real estate title search, rest report, independent mortgage advice, forensic loan audit,assign title, broken chain of title,

Originally posted 2011-10-28 10:26:44. Republished by Blog Post Promoter

Unemployment income no longer allowed for Fannie Mae and Freddie Mac Mortgage Modifications

admin — Sat, 14 Jan 2012 18:45:07 +0000

New regulations coming from Fannie Mae and Freddie Mac (going into effect on November 1) will no longer permit unemployment benefits to be used as income on a loan modification application.

Up until now, millions of Americans who have lost their jobs as a result of the recession, many had still been able to qualify for a mortgage loan modification. Unemployment benefits were allowed to be considered income on Mortgage modification applications.

This move by the nation’s two largest mortgage giants comes on the heels of similar policies enacted by the Treasury Department over the summer. In this case, jobless benefits were no longer considered for those seeking assistance under the Home Affordable Modification Program (HAMP). This is just one more nail in the coffin of HAMP. It became obvious this past summer that the federal government was going to do nothing to enforce HAMP.

Although loan modifications will now be prohibited for those who seek to utilize unemployment benefits, unemployed homeowners may still qualify for temporary reductions in their mortgages. In some extreme cases, homeowners may be able to have their payments suspended altogether. Whether this relief will come from HAMP directly, or through various lender in-house mortgage modification programs is unclear.

Experts warn that since the rules are ever-changing, those who are attempting loan modification (but are unemployed) should consult with their lender for clarifications on the latest federal policies. In this particular instance, I would depart from my ususal advice and recommend consulting a HUD counselor. HUD counselors are notoriously ineffective in obtaining mortgage modifications, principally because there is no accountabilty from the banks themselves. HUD counselors have no pull in making banks negotiate in good faith anymore than any other third party.

As always, the REST Report is the essential tool in applying for a mortgage modification. By submitting the REST Report with supporting documents in a certified mail submission, the file must be shown to the actual investors in your mortgage.
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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. loan modification and short sale are beneficial foreclosure alternatives that benefit both homeowner and mortgage investor and make the mortgage servicer do the loan modification process in good faith. They must comply with the mortgage relief act in the mortgage loss mitigation process. I have offered loan modification services for three years. Our loan modification success is 4000 successes out of 4000 submissions. I’ll be happy to send a loan modification example in the form of a sample REST Report. I also have a proven loan modification hardship letter developed over three years of practice.

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 it here

tags: do it yourself mortgage modification,do it yourself loan modification,loan modification software,mortgage modification software,foreclosure alternatives,loan modification hardship letter,calculate net present value, mortgage relief act, rest report,mortgage loss mitigation, loan modification process,loan modification services, mortgage loss mitigation, loan modification success, loan modification example,

Originally posted 2010-10-14 11:44:40. Republished by Blog Post Promoter

San Francisco Chronicle recognizes mistake of loan modification up-front fee prohibition

admin — Sat, 14 Jan 2012 18:45:06 +0000

Those of us trying to get distressed mortgage modifications to those deserving them have been dismayed for months at the various state and federal government efforts to regulate those of us trying to negotiate those same beneficial and affordable mortgage modifications. We watched as the California Legislature passed their ill-advised SB94. It was and is a bad idea and has proved itself a hindrance to any success that the Home Affordable Mortgage Plan, or HAMP, might have had. Today, the San Francisco Chronicle published an article, linked below, that advises the same conclusion.

Even more notably, the Federal Trade Commission, or FTC, has been threatening to magnify the mistakes of that same California-specific SB94. It’s an even bigger bad policy and hopefully with enough exposure, the FTC will realize that.

At the core of the concept is that negotiating a mortgage modification or a short sale as a solution to a distressed mortgage, has proven itself to require legal representation. The nation’s banks have proven themselves incapable and/or unwilling to assist in the mortgage and financial crisis that they enabled. A published one percent mortgage modification completion rate should be a crime. We know that the lenders have avoided beneficial mortgage modifications by design.

What gets almost no press is the huge success rate of attorney-driven mortgage modifications. We know why, too. The banks have been excellent in suppressing any and all positive results by third party mortgage modification negotiators. They have been diligent in making sure all negative press about the failings of modification negotiators gets great attention.

Almost no one is aware of the minimal actual effect California SB94 had in affecting the mortgage modification industry in California. The effect of this legislation was a “pay-as-you-go” process for any professional mortgage modification negotiator. Since 90 percent of the work of an mortgage modification application is done the first week anyway, 90 percent of the payment due billing was done then also. Attorneys never ever guarantee a negotiation outcome. That’s why we have attorneys in the first place. Lender’s are given the freedom to shoot themselves in the foot even in the face of overwhelming evidence to the contrary.

The sad truth is that the Home Affordable Mortgage Plan, or HAMP, should and would provide relief to millions of distressed homeowners. But there is no enforcement. The California Legislature, and now the Federal Trade Commission, intend to abdicate their responsibility to enforce the provisions of HAMP and any other well-founded remedy to this distressed mortgage crisis. They intend to doom any and every mortgage modification to failure just to regulate any possibly inept mortgage modification negotiator. Think “baby with the bath water.”

The San Francisco Chronicle comes to the same conclusion. Hooray for them.

In the intervening time of this article and now, we have seen spectacular results from the REST Report in enabling distressed homeowners in obtaining a do it yourself mortgage modification or short sale. So really, the issue of up-front fees is essentially moot.
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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. loan modification and short sale are beneficial foreclosure alternatives that benefit both homeowner and mortgage investor and make the mortgage servicer do the loan modification process in good faith. They must comply with the mortgage relief act in the mortgage loss mitigation process. I have offered loan modification services for three years. Our loan modification success is 4000 successes out of 4000 submissions. I’ll be happy to send a loan modification example in the form of a sample REST Report. I also have a proven loan modification hardship letter developed over three years of practice.

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 it here

tags: do it yourself mortgage modification,do it yourself loan modification,loan modification software,mortgage modification software,foreclosure alternatives,loan modification hardship letter,calculate net present value, mortgage relief act, rest report,mortgage loss mitigation, loan modification process,loan modification services, mortgage loss mitigation, loan modification success, loan modification example,

Originally posted 2010-04-19 12:34:19. Republished by Blog Post Promoter

How to Do-It-Yourself Loan Modification or Short Sale

admin — Sat, 14 Jan 2012 18:45:05 +0000

You need two items to modify your mortgage or short sale your property and not foreclose or pursue bankruptcy. First: Have accurate, unbiased calculations sanctioned by the foreclosure courts, including Net Present Value (NPV) that show your investor (NOT your loan servicer!) a fair and equitable resolution to your distressed mortgage; and Second: Be able to prove that the Loss Mitigation Dept. received all supporting documents in your application.

It is always, and I do mean always, more beneficial to your mortgage investor to grant either mortgage modification or short sale. Only your mortgage servicer benefits more from a foreclosure. That is exactly why mortgage modification and short sale applications get ‘lost.’

For Item One, you need the REST Report. The REST Report is proving itself as an indispensable tool in a court foreclosure defense. To date, every single REST Report presented in court has been welcomed as an unbiased calculation of the best remedy for a distressed mortgage.

The nation’s courts have expressed keen interest in examining any and all illegal foreclosures.

“The REST software is part of a multi-million dollar software platform, it’s not generated using something off the shelf, like Microsoft Excel. It’s a “loan disposition analysis” system that knows the thousands of variables needed to make the sophisticated calculations required to generate an accurate report that can withstand any level of scrutiny. It is the same software platform used by the banks to evaluate the best resolution to a troubled asset.”

Click to read more about your Do-it-Yourself Mortgage Modification REST Report

To date, approximately 1500 REST Reports have been run, naturally to varying results. Every mortgage and hardship is unique. But to qualify for a mortgage modification, this is the best tool available.

But we are getting astounding anecdotes that recount court receptivity to the calculations and authority. I can send you a court transcript that demonstrates the power of the REST Report in a foreclosure by a homeowner with no attorney.

If you want to keep your home, or have an investor buy your property and negotiate the best short sale for your situation, this is the one single investment you need to justify your situation.

Currently, there is no financial reason to pay a third party to negotiate a mortgage modification. The banks have learned that they are not required to negotiate in a timely manner with anyone (read: Good Faith). Since the Loss Mitigation Dept. and the Foreclosure Dept. at your lender are not held accountable for communicating with each other, it is up to you, the distressed homeowner to use the court to do it. If you do it, it’s free. Just do your free due diligence every month.

Lender/servicers may not foreclose while engaged in mortgage modification or short sale negotiations. You can use the court to ensure that. Just attend any foreclosure court dates with your mortgage modification file. Hand your documented file to the judge, and relax. You’re done.

Regarding requirement number two; all documents need to be mailed USPS certified mail, return receipt requested. This will ensure that your bank can’t claim you didn’t submit a complete file and the court will hold your lender accountable. No faxes! This is where the banks get away with saying, “We never got them.”

ANYTHING BUT FORECLOSURE!

I am a proud vendor of the REST Report. I also have the best Hardship letter template available anywhere. Your hardship letter is guaranteed to melt the heart of the most cold-blooded mortgage underwriter ever hatched.
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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. loan modification and short sale are beneficial foreclosure alternatives that benefit both homeowner and mortgage investor and make the mortgage servicer do the loan modification process in good faith. They must comply with the mortgage relief act in the mortgage loss mitigation process. I have offered loan modification services for three years. Our loan modification success is 4000 successes out of 4000 submissions. I’ll be happy to send a loan modification example in the form of a sample REST Report. I also have a proven loan modification hardship letter developed over three years of practice.

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.

Click to read more about your Do-it-Yourself Mortgage Modification REST Report

tags: do it yourself mortgage modification,do it yourself loan modification,loan modification software,mortgage modification software,foreclosure alternatives,loan modification hardship letter,calculate net present value, mortgage relief act, rest report,mortgage loss mitigation, loan modification 2010, mortgage relief 2010, foreclosure alternatives, loan modification process,loan modification services,

Originally posted 2010-10-14 09:52:18. Republished by Blog Post Promoter

Mortgage Modification SWAT teams and second mortgages. What?

admin — Sat, 14 Jan 2012 18:45:04 +0000

The so-called SWAT teams from the U. S. Treasury Dept. were not conceived to evaluate second mortgage modification. The were conceived to evaluate various lender’s performance in good-faith negotiation of distressed mortgages under the Home Affordable Mortgage Plan with the concerned homeowners.

You’d never know it from this article. It’s tough enough to navigate a mortgage modification as it is without reading confused and mis-informed information on the web. Again, the Obama SWAT teams were conceived in December to go observe first-hand how well the national mortgage lenders were performing in evaluating and granting permanent mortgage modifications. A noble pursuit, but don’t hold your breath. The banks will obfuscate and do end runs around the government observers. Elliot Ness they are not. They’ve been snow-jobbing the Securities and Exchange Commission for years. You think a little ole’ Treasury official bothers them? Nah.

But this article really concerns the even more dismal performance of the Home Affordable Mortgage Plan (HAMP) on negotiating mortgage modifications for second liens. This is so incredible. The government can’t match up first and second mortgages to any given property.

From Treasury Spokesperson Meg Reilly, “Treasury has been working to create program infrastructure and technology, including a new platform that matches second liens to first liens modified under HAMP…Because there has not been a systematic method of notification to second lien holders when a first lien on the same property is modified, ramp-up has taken some time.”

On April 28, 2009, Treasury officials announced the second lien program in a press release that stressed the need to help “underwater borrowers stay in their homes.” This is distinct from the passage of the HAMP on March 4, 2009.

To clarify, the refinance portion of HAMP is and was designed to address “underwater mortgages” that have suffered significant value reduction. (read: principal loan reduction)

The mortgage modification portion of HAMP was designed to address significant income reduction on the part of distressed homeowners. These guys need to read the law. Actually, if the quotes are accurate, even the government spokespeople need to read the law. Just this last week, press releases were issued that contradicted themselves. (If you want a copy, email me. I have it.)

Those of us that research the mortgage modification profession know full well that mortgage loan servicers are stalling mortgage modification AND short sale applications because they make more money on a foreclosure. The following quote would amuse if it weren’t so sick: “The program’s effectiveness has been hampered by a severe problem with servicer capacity…” Blah, blah.

If you love confusion; kinda like being dizzy on the merry-go-round in your local schools’s playground, click the link below.

Here’s the deal: The answer is to be prepared to take your mortgage servicer to foreclosure court – with their own calculations. That’s what the REST Report does. Worry not about any given mortgage SWAT team. Mortgage Modification applicants do not fail because of any lost or un-submitted supporting documents on their part. They suffer because their lender does not care where those documents went.

If you lost your homework in school, you were held accountable. Not these guys.

Try this: “A new brochure for borrowers looking for mortgage relief was recently posted by HAMP administrators on its website for mortgage servicers. In a question-and-answer section, the issue of second mortgage modification is only briefly addressed.” Only briefly addressed; and wanna guess how available that document is to the confused, frustrated, and terrified distressed homeowner? How about the equally confused HUD counselor?
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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. loan modification and short sale are beneficial foreclosure alternatives that benefit both homeowner and mortgage investor and make the mortgage servicer do the loan modification process in good faith. They must comply with the mortgage relief act in the mortgage loss mitigation process. I have offered loan modification services for three years. Our loan modification success is 4000 successes out of 4000 submissions. I’ll be happy to send a loan modification example in the form of a sample REST Report. I also have a proven loan modification hardship letter developed over three years of practice.

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 it here

tags: do it yourself mortgage modification,do it yourself loan modification,loan modification software,mortgage modification software,foreclosure alternatives,loan modification hardship letter,calculate net present value, mortgage relief act, rest report,mortgage loss mitigation, loan modification process,loan modification services, mortgage loss mitigation, loan modification success, loan modification example,

Originally posted 2010-01-11 03:01:22. Republished by Blog Post Promoter

Bankruptcy loan modifications; just another boondoggle

admin — Sat, 14 Jan 2012 18:45:03 +0000

There has been a huge push to enable bankruptcy judges to modify mortgages as part of bankruptcy proceedings. Today, this ability has been included in a proposed amendment allowing judges to modify mortgages on primary residences for homeowners in bankruptcy as part of the Wall Street Reform and Consumer Protection Act (H.R. 4173).

Thankfully, this part of the Frank-Dodd Act did not materialize. Foreclosures go through District Court. They need to stay there. With the advent of the spectacular success of the REST Report, the strategy to assure good faith negotiations with the treacherous mortgage servicer is clear. The REST Report gives the foreclosure judge the perfect tool to ensure the best solution for any distressed mortgage.

There is an euphoria on the part of many observers of the mortgage mess. This will be short lived. This will not be a panacea for the Home Affordable Mortgage Program failure because bankruptcy judges are already overwhelmed with the number of bankruptcy cases. It will allow the federal bankruptcy judges to witness the treachery of the money-lenders in the US economy today.

Mandelman is so consumed with rage over the mortgage modification mess and treachery of the US bankers in assuming responsibility for the current economic repression, that he easily seizes on this news as significant.

The statistics are clear: Bankruptcy and foreclosure are rarely the answer to debt and mortgage distress. There is no risk to explore mortgage modification, short sale and debt settlement as individual solutions. A distressed mortgage and/or consumer debt holder can get positive counseling and advice within days before pursuing the deadly “final solution.”

The take-away here is that the banking lobby needs to be broken. The REST Report does just that. Mandleman sees some hope today. Senator Durbin is quoted as, “It’s hard to believe in a time when we’re facing a banking crisis that many of the banks created – they are still the most powerful lobby on Capitol Hill. And frankly, they own the place.” No, they don’t. They only control what you don’t know. If you collapse in front of the TV at night and believe what the lenders tell you, you are doomed. The ones who fight back will call me, and they will win before the tide.

The distressed homeowner assuredly can’t make HAMP work on their own. But HAMP, or Home Affordable Mortgage Assistance, does work with assistance. The REST Report, in part, calculates Net Present Value, a mortgage industry standard supported by HAMP verbiage.
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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. loan modification and short sale are beneficial foreclosure alternatives that benefit both homeowner and mortgage investor and make the mortgage servicer do the loan modification process in good faith. They must comply with the mortgage relief act in the mortgage loss mitigation process. I have offered loan modification services for three years. Our loan modification success is 4000 successes out of 4000 submissions. I’ll be happy to send a loan modification example in the form of a sample REST Report. I also have a proven loan modification hardship letter developed over three years of practice.

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

tags: short sale vs foreclosure, short sale foreclosure,short sale, calculate net present value,
loan modification software,mortgage modification software,foreclosure alternatives,rest report,
mortgage relief 2010,chain of title,real estate title search,independent mortgage advice,assignment of title,short sale rules,

Originally posted 2009-12-10 04:20:44. Republished by Blog Post Promoter

Federal Government satisfied with 13% mortgage modification rate

admin — Sat, 14 Jan 2012 18:45:02 +0000

There are several reports today that report the federal government is satisfied with the 13% rate of mortgage modifications under the Making Home Affordable plan, A six-month-old, $75 billion White House-backed program to help homeowners on the verge of foreclosure.

Currently, even attorneys are powerless to remedy this situation because the banks have learned they can sandbag anyone trying to negotiate a mortgage modification or short sale. The one notable exception is the REST Report. We have no complaints about it’s success. It uses the bank’s own software to calculate Net Present Value, so there’s no place for the mortgage servicer to run. Game over.

Loan servicers have extended more than 571,000 loan-modification offers while about 360,000 homeowners have begun the process of modification, according to Dave Stevens, assistant secretary at the Housing and Urban Development department.

“At the current pace, the program is well on its way to meet the goal of modifying mortgage loans for more than a half million deserving homeowners by Nov. 1,” Stevens added. This we now know was laughably overstated.

Yet the chairwoman of the housing subcommittee for the House Financial Services Committee, Maxine Waters, D-Calif., said that the program is still struggling, pointing out that only 15% of the eligible 2.7 million homeowners have received help. She noted that Credit Suisse expects 8.1 million homes to go into foreclosure over the next four years.

The lawmaker also said that there were concerns about servicers continuing foreclosure proceedings, even as modification processes are under way. “Some servicers here today reported enrollment of only 4% of eligible borrowers.” This can be stopped, but it involves due diligence by the homeowner.

Rep. Spencer Bachus, R-Ala., the ranking Republican member of the House Financial Services Committee, said he believed the White House approach was flawed from the start. We now know that the exact flaw was in specific definition of establishing ‘imminent default’. The mortgage servicers have criminally twisted the establishment of this requirement.

Michael Barr, assistant secretary for financial institutions at the Treasury Department, said that the progress in implementing the programs have been substantial, and that government officials will not stop at 500,000 modifications once it meets that goal.

Nevertheless, he added that more needed to be done. “Servicer performance is uneven, geographic unevenness as well. Servicers need to reach out to find the eligible borrowers.”

This is not going to happen. There is no inherent motivation for a lender to modify any mortgage. Congress passed the three laws, but mortgage modification is now a do-it-yourself project in 2011.

Barr said regulators are taking steps to have mortgage servicers expand the number of borrowers that can be eligible for the loan-modification program. He said the Treasury is pressing loan servicers to hire more staff, expand call-center capacities and generally devote more resources to the program.

The Home Affordable Modification Program is using as much as $75 billion, in part, from the Troubled Asset Relief Program to incentivize loan servicers to make loan modifications for troubled homeowners.

Another program, The Home Affordable Refinance Program, seeks to expand access to refinancing opportunities for families whose homes have lost value and whose mortgage payments can be reduced at market interest rates. This has also proven to be laughable. It was written by the banks. ‘Nuff said.

For those readers that prefer YouTube videos, try this: How to Get A Beneficial Mortgage Modification Now

I read every comment. Please use the Comment box below and tell me what you think.

Read it here

tags: do it yourself mortgage loan modification, do-it-yourself short sale, mortgage loan modification, mortgage lender fraud, mass joinder lawsuit, mortgage loan modification colorado, mortgage loan modification nevada, mortgage loan modification arizona, mortgage loan modification new mexico, hamp, home affordable mortgage plan,

Originally posted 2009-09-10 20:47:44. Republished by Blog Post Promoter

Get ‘Free Houses’ in Utah

admin — Sat, 14 Jan 2012 18:45:01 +0000

Every homeowner should listen to this podcast. It is the most cogent and coherent explanation I’ve ever heard of Broken Chain of Title

Utah Attorney Walter Keane is the lawyer that filed four quiet title claims last year, which means he was seeking to obtain a court order granting clear title to the properties in question. And all four were granted by the Utah courts (four quieted titles to the four homes). And at least one of the homeowners subsequently sold his home and went on his very merry way. In the January 2012 Harper’s magazine, Christopher Ketcham wrote a feature story about Walter, among other things, titled: “STOP PAYMENT! A homeowners’ revolt against the banks.”

The Utah State appeals court ended up reversing the lower court decisions. Free houses are just few and far between. Walter Keane is a very knowledgable and experienced lawyer who is also an out-of-the-box thinker. www.waltertkeane.com.

Notes for Podcast Part 1:
2005 represented several huge land developers
Personal credit fellto the bottom because of the economy
Every foreclosed house is a drain of $80,000 to economy
MERS fraud was blatant – private registry
Utah is non-judicial foreclosure state
Prommisory Note – Trust Deed
Utah is vicious in evictions
Landmark vs. Kessler in Kansas
No one was aware of broken chain of title in 2009
County Recorder is the law/record of the land
every Recorder process is unique
Current system – there is no owner
Banks got all the love, homeowners got the shaft
Utah judges are exemplary
Judges must follow the law, up to Legislature to re-write the law
Utah Republican legislator brought legislation
homeowner has the right to negotiate w/ Trust Deed Holder
Three parts to MERS
Mortgage Servicers are the least qualified and prepared to negotiate
Servicer business pland accounted for 1% foreclosure rate
They’re now foreclosing at 10% of the country
Mortgage Servicers are just bill collectors
Two theories as to why servicers make more money on foreclosure
Servicers wear down the homeowner with obfuscation
Quit blaming the shark
Why have laws when no one follows them?
There are no regulators – no excesses were curbed
In Utah, servicers have no legal right to be involved in foreclosure
definition of ‘lender’ is undefined
Pooling and Servicing Agreements written by servicers – to benefit servicers
Investors are abused almost as much as homeowners
Is the homeowner going to subsidize the servicer troubles?

Notes for Podcast Part 2:
Fallout will fall on state legisatures
Obama has to win the foreclosure states
Foreclosed homeowners voted Tea Party
Homeowners never saw stimulus money
Republicans say we aren’t foreclosing fast enough
Pro Se defendant followed Free House judgement in Utah
Trust Agreement always concerns three parties
Trustee can’t identify those three parties
Legal precedent should benefit homeowner
Senator Bramble in Utah is chasing remedy to loopholes in Trust Deed law
In California, the only rcourse to foreclosure is to start packing
8 million have lost their house since 2008
Published Unemployment statistics are propaganda, unrealistic
Insist on transparency in real estate law – especially in non-judicial states
Market demand for houses is half of what it used to be
No hope for recovery in the foreseeable future
Unlike AG Holder, Depression Era AG prosecuted banks
“End of Growth” by Richard Hindberg
MERS is designed to yield broken chain of title 70% of the time
Blacklisted by title companies in Utah
Principal reduction=Equity share?
Emminent Domain – Pay homeowner just compensation for foreclosed home
have the state establish a re-securitization pool at 60% value
solve state budget crisis without raising taxes
solve inequities in the market
injures public tranquility and welfare
Banks don’t elect people – money won’t buy out of this
When Nevada prosecuted a Robosigner, foreclosure filings fell by 80%
If you don’t hire an attorney to fight foreclosure, you’re better off to just disengage and walk away.
Everyone has to do the ‘Wave’ or it’s not a wave
Be a ‘Doer’ at Mandelman Matters
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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 Property Solutions Report is best classified as a real estate title search to prove broken chain of title in a court suit. Synonyms include clear title, quiet title, assign title, assignment of title, and try title, depending on what state you’re in. The REST Report is used to calculate net present value using the mortgage servicer’s own software for the mortgage trust, allonge and allonges. The REST Report is independent mortgage advice and more efficient than a forensic loan audit. Chain of title and the now endemic broken chain of title has been mandatory to sell a property since the Magna Carta in 1066.

This YouTube video explains the Broken Chain of Title, short sale, cloud on title situation

This page explains the Broken Chain of Title Property Solutions Report
It is a pre-requisite to any attorney consultation for this strategy.

Read it here

Tags: allonge, mortgage trust, try title, allonges, clear title, quiet title, calculate Net Present Value, chain of title, assignment of title, real estate title search, rest report, independent mortgage advice, forensic loan audit,assign title, broken chain of title,