Last weekend I posted about the significant halt in mortgage modification negotiations experienced by the companies I submit client files to. This screeching halt happened right around June 9. This in spite of the fact that these companies know EXACTLY how to submit files and documentation for immediate consideration. Our file submissions are no-brainers.
The simple fact is that the nartion’s biggest banks have practiced to perfection how to lose files and documentation. Simply put, no one is holding the banks accountable for submitted information.
Just exactly how many times can one lose their homework and get away with it? The question really is that simple.
Now along comes a Huff Post that essentially spotlights the same problem. In accordance with my assumed past practice, I’m not quoting which bank. It doesn’t matter. In our experience, every one of the biggest 86 banks in the country have now mastered the concept and practice. The reader can insert the name of any of those 86 biggest banks and the result will be the same.
The complaint also says customer service representatives are instructed to lie about receiving modification documents and that “at least one former employee recalls seeing homeowners’ financial records manipulated in the bank’s computer system to the homeowners’ detriment.” Specifically, this Arizona suit resembles a suit filed in Seattle a few months ago. I’m aware of class action suits in Tennessee
and Massachusetts.
The Home Affordable Mortgage Plan, or HAMP, specifically states that supporting documents need only be submitted once. Doesn’t matter. The banks are being allowed to require the same supporting documents over and over again.
There is no oversight or supervision of the nation’s banks. HAMP fails not because of intent or language, but because of enforcement. In light of the Foreclosuregate scandal, the US Treasury Secretary’s office states that foreclosure oversight belongs to the individual states.
When you were in school, how long did the teacher put up with the whiner? If your parents put up with your tantrums, you’re now in jail. Period.
You were, and are, a spoiled brat. The banks are spoiled brats. President Obama threatened to spank the banks a few months ago. That lasted less than a week and even he was told to sit down. So much for discipline.
When was the last time a bank lost a mortgage purchase application file?
Well, it turns out that the whole mess is moot. Doesn’t matter. The REST Report solves every problem except mortgage servicer stupidity.
You will not get foreclosed on if you submit the REST Report as part of your mortgage modification or short sale application. We’ve seen it now approximately 1500 times. The REST Report uses the bank’s software to calculate whether a mortgage modification or short sale is the best resolution to a distressed mortgage. When it is submitted it goes straight to the mortgage investor(s). No more shenanigans from your mortgage servicer.
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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
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Originally posted 2010-07-13 09:12:12. Republished by Blog Post Promoter
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I would like to exchange links with your site mortgage-mod-monster.com
Is this possible?
please email link to:
info@mortgage-mod-monster.com
Good point that I had never thought of before.
Solid Allegations banks are stalling Mortgage Modifications – http://t.co/QY0MiKGU