According to an April Credit Suisse Group analysis of the home loan modification performance by mortgage servicers, the winner is Litton Loan Servicing, a Goldman Sachs Group Inc. unit, while the worst of the group was Saxon Mortgage Services, a division of Morgan Stanley. According to the study, Litton modified 28% of the mortgages it oversees that originated between 2005 and 2007. Saxon modified less than a quarter of Litton’s number at 6%. These loan servicers are the focus of the Obama Administration’s frustration due to the slow rollout of the Home Affordable Modification Program (HAMP) since its initiation in March. Adding to that frustration is that the slow rollout of loan modifications under HAMP guidelines has occurred while foreclosures continue to increase at a record breaking pace. Estimated to hit 2.4 million by yearend just two months ago, foreclosure estimates for the year are now being raised to 3.5 million due to increased activity in the second quarter. Foreclosures exceeded 300,000 for each month of the quarter. The second quarter statistics have spurred administration officials to summon high ranking representatives from the servicers to Washington D.C. for a meeting with Treasury Secretary Tim Geithner and Shaun Donovan, Secretary of HUD, in late July to see what can be done to ramp up the pace of loan modifications across the country. When the Center for Responsible Lending, a financial-services research and policy firm, was estimating 2.4 million foreclosures for the year, their estimate on the number of surrounding homes which would be affected by foreclosures and resulting price decreases stood at 69.5 million. Their very conservative estimate put the loss per home at $7,200 which would translate to a drop of over half a trillion dollars in property values across the country. With new estimates of 3.5 million foreclosures for the year and the likelihood that foreclosures will be increasing for higher end properties, the numbers from the Center for Responsible Lending look wildly optimistic. The government effort to stem this rising tide of foreclosures rests squarely on shoulders of the mortgage servicers but one look at Saxon’s operations confirms that they have a long way to go before they can start processing the influx of applications with anything approaching efficiency. Saxon’s problems started immediately after HAMP was announced as they were flooded with phone calls, requests for information, and paperwork. So much paperwork, in fact, that an internal audit in May determined that their scanning equipment was overloaded with documents sent in by homeowners seeking home loan modifications. The overload resulted in delays, lost documents, and applications. One of Saxon’s biggest issues is that when it was purchased by Morgan Stanley in 2006, it was servicing approximately 165,000 loans. Instead of hunkering down with a portfolio that was beginning to fall apart, the company had more than doubled the number of loans it serviced by the end of June 2008. Most of the new loans were subprimes from other servicers that were either failing or leaving the business. Saxon was also caught flat-footed on staffing up for the coming rush of loan modifications. Like other mortgage servicers, the company performed a relatively straightforward set of functions, acting as the direct interface with borrowers on behalf of the insurance companies, pension funds, and Wall Street institutions that owned the mortgages. Those functions included processing payments, maintaining impound accounts, and collecting delinquent payments. While other companies began gearing toward loan modifications much earlier, Saxon’s energies were being spent on servicing their growing portfolio. Their growing subprime mortgage portfolio was already blowing up in the first half of 2007 when they finally started contemplating loan modifications. It would take another 18 months before the company started adding capacity for mortgage loan modifications. Saxon, late to the game and scrambling to catch up, was immediately buried in applications after the announcement of HAMP by the Treasury and the Administration. It would take another ten weeks for their internal audit to reveal what everyone already knew; that the company was drowning with inadequate infrastructure and a staff that was untrained, inexperienced, and too small. Since that May audit the company has brought in four outside companies help handle the thousands of calls that pour in daily. At present, and while still servicing loans that are performing, Saxon and the other servicers are under intense pressure to train a legion of employees in the art of negotiating and executing loan modifications. The problem with the training aspect, as faced by all servicers is that each loan has its own set of circumstances with mortgages owned by different investors with different parameters for judging the merits of each modification. Without an instructional template available, trainees are basically being taught on the fly with a new lesson waiting with each new loan modification that lands in their inbox. Next up for Saxon is the sure to be unpleasant July 28th meeting with Treasury and HUD officials Washington D.C. One of the issues to be covered will be the publication of each servicer’s results in a form of public shaming to provide additional motivation. The problem with that idea is that Saxon’s mortgage holders already know what’s going at the company. Reading about it on the HUD website isn’t going to make them feel any better about submitting lost documents for the fourth time. For more information visit www.feldmanlawcenter.com (Feldman Law Center - Loan Modification Company )or call 800-588-0425.
Feldman Law Center – News by Feldman Law Center – California’s recently passed anti-foreclosure bill exempted most lenders in the state from its regulations with loopholes big enough to drive a truck through. Trumpeted by legislators as another layer of protection for homeowners, the bill exempted the largest lenders in the state including Wells Fargo, Bank of America, and JP Morgan Chase because they already had loan modification programs in place. Even for the rare lender that might have been out of compliance with the law, and then subject its regulations, adding a loan modification program would exempt it from the mandated 90 day postponement of foreclosure proceedings on delinquent homeowners. It was with amazement then that industry watchers marveled at the June foreclosure statistics which showed that foreclosures actually declined even as the state’s default filings increased. Many of the comments made it sound like lenders in California might actually be giving homeowners a break. ForeclosureRadar Chief Executive Sean O’Toole said, “A number of lenders appear to have self-imposed California’s latest foreclosure moratorium on themselves, despite having received an exemption from it.” The numbers definitely bear out that there could have been more foreclosures and more properties put up for auction in the month of June. An example of lenders’ restraint is Bank of America, which cut their notice of trustee sale filings by 48% from May to June. Seemingly puzzled by the decrease, Mr. O’Toole commented, “… (it’s) an outcome we are struggling to find an explanation for.” One thing for certain is that the ultimate explanation won’t have anything to do with lenders cutting homeowners a break because they feel sorry for them. It’s much more likely that what is being called a self imposed moratorium is based on the lenders choosing the lesser of two evils and the law of supply and demand. A look at a couple of statistics from the California auctions illustrates what the lenders are dealing with and why there aren’t more properties going to auction: * Of 22,291 foreclosures taken to auction only 2,687, representing 12% of the total, were sold. * Opening bids as set by lenders averaged 39.3% lower than the mortgage balance. * Almost half of the properties sold at auction were discounted by 50% or more. * Despite the steep discounts and the relatively limited supply, lenders were forced to take back 87% of the properties submitted for auction. Those are pretty grim stats given that the 22,000 properties that actually went to auction represents less than 20% of the amount that could have been submitted. Putting salt in the wound, the 2,600 properties that did sell were done at steep discounts and represent about 2% of the total of homes that could have been sold. A lender looking at those numbers would have no motivation at all to foreclose save for special situations where there is perceived value or a buyer waiting on the other side. Under normal circumstances, foreclosures typically run in an orderly three part process starting with the filing of a notice of default (NOD). The property then goes to auction at a trustee sale where it is either sold or taken back by the lender. The current bottleneck is occurring at part three of that process because homes aren’t selling and lenders are already flooded with properties in their REO departments. Continuing to foreclose at a brisk pace only adds to the existing backlog, building a supply that isn’t even close to being met by demand. In that situation the lesser evil is to leave the property in limbo and hope that borrowers can fix their mortgage problem or modify the existing loan. Leaving properties in limbo also benefits lenders by allowing them to carry properties on their books at a value of their choosing due to Congress’ relaxing of mark to market rules in the spring. A foreclosure sale forces the adjustment of valuation on properties sold at auction so even if properties were selling, it’s unlikely that lenders would be willing to accept massive write-downs at current valuations. In an environment where just about any action a lender can take results in a loss of some sort, moving as slowly as possible might be the only way to minimize damage on a daily basis. It could be that a write-down pace on 2% of the REO portfolio each month is a number that lenders can live with at the moment. Whatever the reason, the break that homeowners are getting right now is subject to change at a moment’s notice. For more information about loan modification ( mortgage loan modification) visit Feldman Law Center at www.feldmanlawcenter.com About Feldman Law Center: The Feldman Law Center was founded for the purpose of negotiating loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop or avoid foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each loan modification we negotiate on the behalf of the families we represent. Having negotiated over 500 attorney driven mortgage loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing. The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425. Resources: Feldman Law Center: Profile – Business Exchange Press Release – The Feldman Law Center’s Code of Ethics and Practices Loan Modification – Feldman Law Center Feldman Law Center, Mission Viejo CA 92691 Feldman Law Center – The Cream Rises in Loan Modifications Feldman Law Center – Ten Tips for a Successful Home Loan Modification Feldman Law Center – Saving Thousands with a Loan Modification – Debt Settlement Combination Feldman Law Center – Mission Viejo, CA, 92891 – Citysearch Feldman Law Center – The New York Times gets it About Half Right Feldmanlawcenter.com – Feldman Law Center Company News Feldman Law Center Feldman Law Center Trulia Profile
Feldman Law Center – News by Feldman Law Center — If homeowners are holding on to one aspect of the Obama Administration’s Homeowner Affordability and Stability Plan, it’s “2%”. Of the multitude of calls that come in to The Feldman Law Center, a majority of them sound something like “How do I qualify for a 2% mortgage?” The promise of the program, in general, has been muted by its slow uptake by lenders and mortgage servicers and the incredibly slow response time for those that have applied with them for home loan modifications. Some homeowners are waiting months just to hear whether they qualify, while their foreclosure creeps ever closer. The one issue being proved out is that attorney driven home loan modifications are moving faster and have a much better chance of getting approved. Steve Feldman, Senior Partner at The Feldman Law Center agreed saying, “We took the time to understand the guidelines and we’re familiar with the different protocols at the various lenders, so we’re very comfortable with navigating the process.” The new program has carried with it the problems of learning the guidelines, integrating systems, and training staff, all of which have slowed the process to a crawl at many of the lenders. Fifteen lenders, in addition to FNMA and FHLMC, are participating in the program. That group lists the biggest lenders in the country including BankAmerica, JP Morgan Chase, CitiMortgage, and Wells Fargo but the banks are still very limited in how many applications they can process at any given time. Homeowners unfamiliar with guidelines and the lender’s interpretations of them are getting different answers from different people at the banks and requests for multiple submissions for paperwork as files are passed from one overworked processor to the next. Another impediment is that the bulk of original loans were packaged and sold to domestic and international institutional investors. The mortgages are handled by servicers that process payments, do billing, and keep records but don’t actually own the mortgage paper. This brings a third party into the negotiations that may or may not agree with the new terms of a modified loan. Congress recently passed a “safe harbor law” that gives servicers more autonomy in their loan modification approval process but whether that increases the number of completed modifications remains to be seen. Jobs cutbacks and unemployment are now the largest single factor causing homeowners to struggle with their payments. “Employment issues started with people that worked directly in the real estate and mortgage areas, and then spread to the people that relied on business from those sectors like furniture, flooring, etc”, Mr. Feldman said, “Now, with the economy as soft as it is, unemployment is spread across the entire job market. We’re seeing home loan modification applications from all walks of life.” Borrowers who have received foreclosure documents from lenders/servicers and those who may soon miss a mortgage payment are eligible for the Homeowner Affordability and Stability Plan. To be eligible, a borrower must live in the home, have a monthly mortgage payment larger than 31 percent of their gross income, bought their homes before January 1st 2009, and owe less than $729,750 on the mortgage. The cap of the size of the mortgage excludes many homeowners on both coasts and other affluent areas. Under the most basic guidelines of the plan, the monthly payments of those who are approved for a modification are lowered to the 31 percent limit. Lenders can do this by reducing interest rates to as low as 2 percent, by extending the term of the loan to 40 years or by deferring principal. The plan has provisions to cover some of the homeowner’s mortgage balance in order to reach the 31% of gross income level. The plan also rewards borrowers and lenders for modifications where payments are made for twelve consecutive months. About 100,000 homeowners across the country so far have been extended loan modification offers, according to Meg Reilly, a spokeswoman for the Treasury Department. “We are absolutely working to make things move faster and provide relief to more homeowners as soon as possible,” Ms. Reilly said. “We are encouraging servicers to staff up, establishing a hotline for homeowners, looking for new tools to expedite this process, working with communities to get the word out about resources available to homeowners.” JP Morgan chase has 15,000 homeowners in trial modifications and Wells Fargo has enrolled approximately 3,000. A trial typically lasts 3 months and reduces a homeowner’s mortgage payments while the home loan modification is being processed. If the homeowner is late or misses a payment the loan modification process is stopped and the homeowner is immediately disqualified. There are no statistics at this point covering how many homeowners have been disqualified from the trial aspect of the modification process. With a million foreclosure already filed through May, industry watchers agree that more needs to be done but there are additional challenges that may prevent homeowners from receiving home loan modifications. One of those challenges is an aspect of the program that allows servicers to run what is known as a net present value test, which determines whether a loan modification would be a better value for the mortgage investors than foreclosure. In places where property values have been hard hit and many people owe more than their properties are worth, servicers are more likely to opt for mortgage loan modifications because the homes would not bring in enough money in a foreclosure sale, if the homes could be sold at all. On the other hand, the net present value test would favor foreclosure in places like New York City, where values are still high and loan amounts are much higher than other areas of the country. There, servicers might have to give more concessions in a modification to bring them in line with homeowners’ current financial picture. If homes haven’t lost as much value, on a relative basis, and there are indications that they could be sold at auction then foreclosure would provide a better return for the investors. At issue, is that servicers are using their own criteria for the net present value tests and are not required to tell borrowers the details of how they run them and how they determine a home’s value. The calculations derived from the test put homeowners at the mercy of the investors in terms of a foreclosure decision but they have no idea on how the decision is made. The incentives provided by the program to servicers are intended, in part, to mitigate the results of the net present value tests but at the higher price ranges they don’t pay enough money to alter the outcome of the test. According to Steve Feldman, “This is one of the areas where we add the most value for our clients”, referring to the net present value tests, “A lot of homeowners trying to do this on their own are getting bogged down and disqualified at this point in their modification. Our process gets the homeowner through the net present value test as quickly as possible.” Homeowners on the brink of foreclosure may want to consider those words before walking through the labyrinth of home loan modifications on their own. For more information visit Feldman Law Center at www.feldmanlawcenter.com. Resources:Feldman Law Center: Profile – Business Exchange Press Release – The Feldman Law Center’s Code of Ethics and Practices Loan Modification – Feldman Law Center Feldman Law Center, Mission Viejo CA 92691 Feldman Law Center – The Cream Rises in Loan Modifications Feldman Law Center – Ten Tips for a Successful Home Loan Modification Feldman Law Center – Saving Thousands with a Loan Modification – Debt Settlement Combination Feldman Law Center – Mission Viejo, CA, 92891 – Citysearch Feldman Law Center – The New York Times gets it About Half Right Feldmanlawcenter.com – Feldman Law Center Company News Feldman Law Center Feldman Law Center Trulia Profile
Feldman Law Center – News by Feldman Law Center – Feldman Law Center: If you are considering bankruptcy because of the debt you owe on your house, you probably know something about filing for bankruptcy, but are still checking out the options that you have. Chapter 7 Bankruptcy, sometimes referred to as a “straight bankruptcy,” is where your non-exempt property is sold and the cash proceeds are given to your creditors. This method of filing for bankruptcy has become more difficult recently, due to new legislation on the issue. Chapter 13 Bankruptcy allows you to reorganize your debts – consolidating your debts and paying them off, free of interest, over a time period of three to five years. This plan prevents creditors from collecting from you during the terms of the contract, as required by Federal Courts. However, you must have a consistent source of income for this type of bankruptcy to be approved, and you must continue to pay for your monthly living expenses as well as the debts you consolidate. Although both Chapter 7 and Chapter 13 bankruptcy can help you to get rid of some of your debts, filing for bankruptcy does cost money, and the legal battle can take time. A bankruptcy also stays on your credit report for ten years, marring your credit score, which can affect your ability to rent property or get a job, among other things. It also affects your short-term ability to get credit. In the past, bankruptcy was a popular way of dealing with mounting debts, such as too-high mortgage payments. Bankruptcy has become an increasingly difficult legal process to complete, it may not actually get you out of your mortgage agreement, and it is a major blemish on your credit history. The attorneys of The Feldman Law Center believe that you have other options, and that you should avoid foreclosure at all costs. If you have been making late payments on your loan, have a climbing adjustable interest rate, or have not paid interest and fees on your mortgage, one option that you should consider is a loan modification. One of our California loan modification attorneys can help you negotiate your loan agreement with your mortgage company. The attorneys at the Feldman Law Center not only know the latest regulations regarding home loan modifications, but they are able to negotiate a more favorable contract with your lender than you would be able to do on your own. Some positive changes that can result from a loan modification include a lower interest rate on your mortgage, forgiveness of some of the amount you owe, stabilization of an adjustable rate mortgage, negotiation of lower monthly payments, and more. Not only can the above things result from enlisting the help of a home loan modification attorney, but you can also avoid the expense and time that a bankruptcy would entail. A loan modification will not adversely affect your credit report like a bankruptcy will, and you can stay in your house and retain the money that you’ve already paid towards your mortgage. An attorney at the Feldman Law Center can help you get these results more quickly than you could do on your own, and can save you the hassle of filing for bankruptcy. Contact us today for your free consultation. About Feldman Law Center The Feldman Law Center was founded for the purpose of negotiating mortgage loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each mortgage loan modification we negotiate on the behalf of the families we represent. Having negotiated over 500 attorney driven loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your mortgage loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing. The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425 or visit www.feldmanlawcenter.com. Resources: Feldman Law Center: Profile – Business Exchange Press Release – The Feldman Law Center’s Code of Ethics and Practices Loan Modification – Feldman Law Center Feldman Law Center, Mission Viejo CA 92691 Feldman Law Center – The Cream Rises in Loan Modifications Feldman Law Center – Ten Tips for a Successful Home Loan Modification Feldman Law Center – Saving Thousands with a Loan Modification – Debt Settlement Combination Feldman Law Center – Mission Viejo, CA, 92891 – Citysearch Feldman Law Center – The New York Times gets it About Half Right Feldmanlawcenter.com – Feldman Law Center Company News Feldman Law Center Feldman Law Center Trulia Profile
Feldman Law Center – News by Feldman Law Center — The world of loan modifications is ever changing, and proof positive is the federal government’s ever-expanding role in influencing banks to offer loan modifications. It was recently reported that the government is frustrated with the progress of their federal loan modification program, and are trying to influence major banks to increase the number of loan modifications for homeowners. Of course, increasing the number of mortgage loan modifications means relaxing the standards which they are currently using to allow for loan modifications. Banks such as Bank of America, Citigroup, J.P. Morgan Chase and Wells Fargo were all summoned to a meeting in Washington, D.C. to discuss ways to improve the federal loan modification program, which was announced in February 2009. The Obama Administration put a great deal of effort and hope into the program, but it has not yet produced the kinds of results people thought it would. The administration’s goal is to complete 500,000 trial home loan modifications, although some analysts fear this is far too optimistic. The government has discussed ways to expand the program, including ways to simultaneously modify mortgages and home equity loans. When President Obama took office earlier this year, the number of foreclosures was sky rocketing due in large part to the subprime mortgage crisis and the adjustable rate mortgages (ARMs) which were offered so rampantly. As a result, millions of Americans were losing their homes and the government felt it needed to intervene. While the level of government involvement is new, loan modifications, are nothing new. California loan modification attorneys have been helping people stay in their homes for years, by helping them get home loan modifications without government interference. Millions of people throughout California have used California loan modification attorneys for their California home loan modifications because attorneys carry a special place in our current culture. When a loan modification attorney calls a bank or lender, they get a much quicker response because they have the law on their side. When people try to handle loan modifications on their own, they usually do not know what they are doing exactly and can make many mistakes as a result. The recent government programs have helped a few people, but since the banks all have huge bureaucracies and the federal government is one giant bureaucracy, people often get lost in process. Trying to call the federal loan modification program hotline can cause major headaches, and trying to get one huge bureaucracy to call another huge bureaucracy can take months and months. While it is encouraging that the federal government is trying to help the average homeowner, a loan modification attorney can get better results in less time. A loan modification can help adjust a number of mortgage terms to lower your monthly mortgage payment, thus allowing you an affordable payment you can pay consistently. California loan modification attorneys, such as those at the Feldman Law Center, have years of experience in helping people avoid foreclosure and stay in their homes. Our loan modification attorney team is highly skilled in helping California homeowners in avoiding foreclosure, avoiding bankruptcy, avoiding a short sale and avoiding the “just walk away” option. Visit us at http://www.feldmanlawcenter.com or call 800-588-0425. About Feldman Law Center The Feldman Law Center was founded for the purpose of negotiating loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each loan modification we negotiate on the behalf of the families we represent. Having negotiated over 500 attorney driven loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing. The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425 or visit www.feldmanlawcenter.com. Resources:Feldman Law Center: Profile – Business Exchange Press Release – The Feldman Law Center’s Code of Ethics and Practices Loan Modification – Feldman Law Center Feldman Law Center, Mission Viejo CA 92691 Feldman Law Center – The Cream Rises in Loan Modifications Feldman Law Center – Ten Tips for a Successful Home Loan Modification Feldman Law Center – Saving Thousands with a Loan Modification – Debt Settlement Combination Feldman Law Center – Mission Viejo, CA, 92891 – Citysearch Feldman Law Center – The New York Times gets it About Half Right Feldmanlawcenter.com – Feldman Law Center Company News Feldman Law Center Feldman Law Center Trulia Profile
Feldman Law Center – News by Feldman Law Center — At the Feldman Law Center, our loan modification attorney team keeps their eye on all loan modification news in order to properly inform and education every client we work with. Our California loan modification company works hard to provide top notch advice as well as a skilled legal ability to get you the best loan modification agreement possible. Recently, the federal government has been paying far more attention to the loan modification process than they have in the past. The Federal Deposit Insurance Corporation (FDIC) and the Federal Housing Administration have rolled out plans over the last year to combat the rising foreclosure proceedings. The FDIC loan modification program and the FHA loan modification program have received some heavy criticism from large financial institutions such as Moody’s Investor Services. In a recent Moody’s report, the FDIC loan modification program may eventually reduce cumulative losses for mortgage loans involved in the subprime mortgage crisis. The FDIC loan modification program is designed to help more people get quality loan modifications by creating a streamlined framework with key incentives, including: a loss-sharing arrangement for existing investors; and a thousand dollar stipend for every successful home loan modification. Ultimately however, Moody’s feels that the participation in the FDIC loan modification program might be limited, which weakens the effectiveness of the program. The FDIC loan modification program will have a lesser cumulative impact on the losses suffered by banks, lenders and homeowners. A California loan modification can be had by utilizing the skills of a California loan modification attorney. At the Feldman Law Center, our loan modification law firm can provide the kind of unique experience and highly sought after knowledge necessary to procure a loan modification. Working with any lender or federal agency involves lots of red tape and bureaucratic road blocks; but with a skilled loan modification attorney, you could overcome those challenges. Many people are interested in how a mortgage loan modification can help them change their financial situation and keep them in their house for the long haul. Throughout California, foreclosure signs are popping up in neighborhoods all over the state, and even in some areas that never thought it would happen to them. Even such neighborhoods as Beverly Hills, Bel Air and Walnut Creek are suffering from the subprime crisis, and everyone in the state is suffering as a result. California unemployment has reached double digits, and it could get much worse. A mortgage loan modification is an agreement between the debtor and the mortgage company to renegotiate the terms of the mortgage loan. This is done so that the borrower can have an affordable, reasonable monthly payment, allowing them to keep making payments over the long haul. A California home loan modification attorney can help the borrower negotiate with the lender, arrange the loan modification application and communicate with the bank or lender. With a loan modification attorney at your side, you can get the best loan modification possible and keep yourself and your family in your home. About Feldman Law Center The Feldman Law Center was founded for the purpose of negotiating loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each loan modification we negotiate on the behalf of the families we represent. Having negotiated over 500 attorney driven loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing. The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425. Resources: Feldman Law Center Trulia Profile Feldman Law Center: Profile – Business ExchangePress Release – The Feldman Law Center’s Code of Ethics and PracticesLoan Modification – Feldman Law CenterFeldman Law Center
Feldman Law Center - News by Feldman Law Center — Let’s face it; times are tough for everyone these days. On the top of the list are homeowners struggling with their mortgage payments as well as other financial hardships. Most of the news heard lately about “mortgage relief” and “bailouts” does not appear to be helping homeowners facing default or foreclosure as we may have anticipated. The truth is, mortgage lenders don’t do loan modifications unless they are forced to, one way or another. To make matters worse loan modification companies offering stop foreclosure or loan modification services may be placing borrowers in worse situations by re-submitting all their financial information to the lender for a loan modification. In most cases these loan modifications are denied and now the lender has updated information that may even implicate the troubled homeowner in mortgage fraud. Many borrowers who bought or refinanced a home in the last three years used a Mortgage Broker who sold them an ARM or worse yet Option ARM loan while inflated home values and stated income allowed them to borrow more than the home was worth. Real estate agents, mortgage brokers, appraisers, loan officers, underwriters as well as bank executives made a killing in this market, and now we’re really feeling the effect. Most homeowners can’t refinance these days due to drastic property value declines, bank failures as well as financial hardships most are facing due to the “credit crunch” and our troubled economy. So with all the lenders “smoke and mirrors” and bad news surrounding us what’s a troubled homeowner to do?
A loan modification seems to be the best option, as well as your only hope if you want to keep your home. Currently, one out of six homeowners nationwide is in default or foreclosure. Loan modification companies are coming out of nowhere boasting they are going to use TILA and RESPA violations to go after mortgage loan servicers and force them to modify your loan and reduce your principal balance. This just isn’t true. In matter of fact and loan modification company that is not a Law Office has absolutely NO leverage against your lender. Honestly, do you think a Loan Modification Company that offers you NO legal representation or a Loan Modification Attorney that offers a Loan Modification service is going to sue your lender? In addition, some attorneys out there would like you to believe a law suit is going to save your home. It may, but trust me; it’s going to cost a fortune. In some cases when a attorney can prove “predatory lending” or significant TILA or RESPA violations a simple phone call can get the job done. Borrowers need to be very careful these days in their approach with the lender. A lender does not have to modify your loan just because the property value dropped, that is not considered a hardship to them and they certainly don’t have to reduce the principal balance but they will in some cases. The Feldman Law Center is a Law Office that specializes in representing troubled homeowners imminent danger of losing their home, whether they are behind in their mortgage payments or not . Saving homes and offering sound legal advice is what we do, and we’re the best in the business. Troubled borrowers need proper representation with their lender, limiting our client’s exposure as well as fighting for the best possible loan modification is what we do best. We are not here to milk our client’s for hefty retainers and leave them for dead, in matter of fact our fees are modest considering what you get with the Feldman Law Center. Our sophisticated approach drives proven results that save our clients homes. We have modified mortgages for lenders employees as well as many high level executives. We deal directly with the banks executives and not the minimum wage loss mitigation employees you will find on your own or with a loan modification company. WARNING: Attorney based and assisted loan modification companies are NOT law offices and only offer “smoke and mirrors” as a means to get you to trust them. The Attorney Generals office as well as the Department of Real Estate simply cannot keep up with the loan modification companies operating illegally & unethically.
Important things you must be aware of: 1) Do not give any up front fees to loan modification or stop foreclosure companies boasting “attorney based”, “attorney backed” or “attorney assisted”! 2) Do not pay for a forensic loan audit unless it is performed by a Law Office, an attorney is the only person that may use lending violations as leverage! 3) Do not use a loan modification company unless they have an up front fee agreement approved by the DRE and offer a 100% money back guarantee! 4) Do not trust just anyone with your difficult situation; contact a Law Office and hire an attorney who specializes in Loan Modification and Loss Mitigation services! There are many companies using the words “attorney”, “legal”, “lawyer” and so on. The bottom line is, these loan modification companies are wrongfully using this language unless they properly disclose they are NOT a Law Firm. Also, not to mention giving you advice that could cost you to lose your home and put your family on the street. Struggling homeowners need real help during these difficult times and not some ex- loan officer trying to get a fat commission or give them advice. The Feldman Law Center offers troubled borrowers real solutions and legal representation with creditors at a very reasonable flat fee. We do not believe in milking our clients with monthly billing for legal services and offering false hope. We offer straight talk, sound legal advice and the best possible results utilizing our expert negotiation skills and Federal Mortgage Laws. Call us today and see the difference for yourself. We will be more than happy answer any questions and share our knowledge as well as our proven results. We take great pride in our work and strive to be the #1 Law Firm in the country offering loan modification services. Mr. Steven C. Feldman, ESQ. is available Monday – Friday during normal operating hours for in office appointments or a free consultation. Call Feldman Law Center at 800-527-8497 or visit www.feldmanlawcenter.com About Feldman Law Center The Feldman Law Center was founded for the purpose of negotiating loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop or avoid foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each home loan modification we negotiate on the behalf of the families we represent. Having negotiated over 500 attorney driven mortgage loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your mortgage loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing. The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425 or visit www.feldmanlawcenter.com Resources: Feldman Law CenterFeldman Law Center: Profile – Business ExchangeFeldman Law Center Trulia Blog Feldman Law Center, Mission Viejo CA 92691 – Merchant Circle Listing
Feldman Law Center – Press Release by Feldman Law Center: Much has been made of the 2% base rate included in the guidelines for the Obama Administration’s “Making Home Affordable” plan. It’s been well documented that the plan is off to a very slow start with current estimates of approximately 50,000 loan modifications in process. Less talked about, at least so far, is that the 2% headline interest rate of the plan may be unavailable to most homeowners seeking loan modifications that follow the plan’s guidelines. As the saying goes, “The devil is always in the details” and Making Home Affordable has a detail which goes by the name of the “Net Present Value” test. Many of the mortgages which were originated during the boom in real estate, including those considered to be toxic, were sold to investors on Wall Street, from pension funds, and insurance companies (like AIG). These investors didn’t have the infrastructure or experience to collect payments, prepare statements, etc. so they left the handling of those matters to loan servicers like Saxon Mortgage (now a part of JP Morgan Chase). These servicers interface with the homeowner on all matters, including home loan modifications. For that work, they receive a small percentage off of each of the homeowner’s monthly mortgage checks as their fee. An unintended consequence of the meltdown in real estate prices and skyrocketing default rates is there is now a conflict of interest between servicers and the investors that employ them. The foundation of that conflict is this; with monthly mortgage payments functioning as the lifeline of the servicers, their priority is to keep those payments going. To that end, granting loan modifications, even with drastic cuts in interest rates, is a much better outcome for the servicer than not receiving payments at all and/or having the home go into foreclosure. Aggressive loan modifications which benefit the servicers often hurt the investors by forcing markdowns on value of loans in their portfolio, hence, the conflict of interest. Having experienced this conflict prior to the unveiling of Making Home Affordable, investor groups insisted that the net present value test be added to the plan to protect their interests. A net present value (NPV) calculation works this way: 1) Determine the proposed monthly mortgage payment for the life of the modified loan 2) Calculate the total return in dollars over the life of the loan – monthly payment x 12 months x 30 years = total return 3) Estimate the value of what the foreclosed home would sell for at auction 4) The highest number between the total return and the estimated selling price at foreclosure determines what action will be taken. Motivated to keep properties generating monthly payments and out of foreclosure, servicers will negotiate the highest interest rate possible, within the constraints of the plan and what the homeowner can afford, to generate higher fees and to make sure that the net present value test comes out on the side of loan modification. With higher fees and the net present value test driving the negotiations in a loan modification, granting 2% interest rates becomes a very low priority and in some cases a deal killer for the servicers. Congress, hearing the cries from their constituencies, has backed the efforts of the mortgage servicers by passing the “Safe Harbor Law” in May. The law protects servicers from lawsuits filed by investors claiming that the servicers are acting in their own best interests in mortgage loan modifications, at the expense of the aggrieved investors. It also gives servicers more autonomy in their structuring their home loan modifications. The net present value test can present formidable challenges to the loan modification process due to many factors that are constantly changing. In New York City, for example, overall property values have remained relatively high but income levels have dropped. Limited by Making Home Affordable guidelines, mortgage payments cannot exceed 31% of the homeowner’s monthly income. The cap on payments can result in a net present value outcome that favors foreclosure on a property. Industry watchers have expressed concerns that the relative resilience in real estate values in the city could actually work against homeowners. At the opposite end of the spectrum are cities such as Las Vegas and Detroit where property values have dropped as a much as 80%. These are areas where the net present value tests favor mortgage loan modifications but homeowners are walking away, forcing the properties back to the investors. The next issue for investors wishing to foreclose is whether they can actually sell properties at auction. In California, approximately 17,000 out of 111,000 foreclosed properties went up for sale at the most recent auctions. Of the 17,000 properties, banks took back 85% of the properties when bids averaged only 59% of the outstanding loan balances. The lack of foreclosure sales across the country has led to a massive backlog of foreclosed properties that are either being kept off the market, put up repeatedly at auction, or for sale to private parties. With unfavorable outcomes on either side of the net present value test, it’s apparent that investors are deciding not to decide on either action. The advantage of leaving properties in limbo is that they don’t have to be marked to market until action is taken, a necessary concession from Congress granted to investor groups in March. That way they can carry the properties in their portfolios at values that don’t trigger capital requirements. If it all sounds like a house of cards, well, at least it’s house. About Feldman Law Center The Feldman Law Center was founded for the purpose of negotiating loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop or avoid foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each loan modification we negotiate on the behalf of the families we represent. Having negotiated over 500 attorney driven loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your mortgage loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing. The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425 or visit www.feldmanlawcenter.com Resources: The Feldman Law Centercan negotiate with your current lender if you are behind on your mortgage & need help. Feldman Law Centeris a experienced California … Feldman Law Center Blog on Trulia Feldman Law Center - Weebly Feldman Law Center - Merchant Circle Listing
Feldman Law Center - News by Feldman Law Center — Toxic mortgages approved for borrowers that couldn’t afford them may have started the meltdown in mortgages but the current wave of foreclosures is being fueled by rampant unemployment across the country. Evidence of that is now being provided by the acceleration of defaults in mortgages granted to high credit score borrowers, commonly known as prime mortgages. The report of May’s 9.4% unemployment rate is more bad news for lenders and their investors as the biggest sector of the mortgage market is now showing a default rate greater than that of the sub-primes. The rising unemployment rate, which has increased every month since the first quarter of 2007, is threatening to reverse any of the currently small gains being made in stabilizing the housing market. In many cases, unemployment can trump any mortgage relief effort short of foreclosure due to the fact that the best terms on a home loan modification, for example, are not going to work if the homeowner can’t write a monthly mortgage check to the lender. Regardless of the type of mortgage, the current default ratios are stunning. In total a record 12 percent of homeowners with a mortgage were behind on their payments in the first quarter, the Mortgage Bankers Association (MBA) said Thursday. The mortgages which started blowing up first, adjustable rate mortgages for sub-prime borrowers are still a significant factor in foreclosures. Today, almost half of all subprime ARMs are past due or in foreclosure. In states like New Jersey, Florida, and New York those rates exceed 55%. The riskiest tranches of the adjustable subprimes began defaulting en masse in the fourth quarter of 2006, starting a domino effect of sub-prime lender closures leading to the freeze of the credit markets in the third quarter of 2007. The general opinion at the time was that the defaults would be contained to the sub-prime market with the possibility of some spillover to the most marginal of the Alt-A loans. Instead, foreclosures and unemployment began working as mutually re-enforcing factors and defaults climbed the ladder of credit scores, reaching and accelerating defaults in the prime mortgages in the second half of 2008. Six percent of the fixed rate primes are now past due, in default, or foreclosure, an increase of 100% over this time last year. The dynamic between unemployment, foreclosures and their effect on the economy has led to the longest recession since World War II. Four states, California, Arizona, Nevada, and Florida represent almost half of new foreclosures and carry the highest number of delinquencies in fixed rate prime mortgages. It’s no coincidence that these states carry some of the highest unemployment numbers in the country as well. The relationship between unemployment and foreclosures now has industry watchers wondering whether the Obama Administration is spending its energy, and funds, on the right target. Their reasoning is that if unemployment continues to grow at the current pace, the “Making Home Affordable” plan won’t matter because homeowners are not going to be able to afford even the best offers for a home loan modification if they’re not working. A better approach, they say, would be for the government to take a regulatory role on the mortgage market, develop an accreditation program for law firms doing home loan modifications, and put their main focus on boosting the economy. About Feldman Law Center The Feldman Law Center was founded for the purpose of negotiating loan modifications on behalf of their clients. These negotiations have two major goals; to reduce monthly mortgage payments to a level of affordability for the homeowner and to either stop or avoid foreclosure proceedings. The mission at The Feldman Law Center is to provide the highest level of professional service while delivering the best possible result on each loan modification we negotiate on the behalf of the families we represent. Having negotiated over 500 attorney driven mortgage loan modifications, we realize that each homeowner’s situation is unique and that each modification may require a different approach than the one before it. To that end, we can always call on our 25 years of negotiating, knowledge, and real estate experience to provide the most optimal solutions for each family’s situation. While we are negotiating your mortgage loan modification with your lenders our friendly and compassionate team will keep you updated all the way on how the process is advancing. The people at The Feldman Law Center completely understand the stress of being behind in your monthly payments and the sleepless nights that can be brought on by an impending foreclosure. Rest assured that we will stand with you all the way through the loan modification process and that we are driven to get the best outcome possible for you and your family. If you are struggling with your monthly payments and worried about the threat of foreclosure, we can help. Call The Feldman Law Center today at 800-588-0425 or visit www.feldmanlawcenter.com.
Feldman Law Center – News by Feldman Law Center — As the foreclosure backlog grows, a new class of American homeowners as described by a recent article in the Washington Post is growing by the month. These are homeowners that have fallen into a financial limbo where they are badly behind on payments, but their lenders have not yet foreclosed on the home. “I have even begged them for a foreclosure,” delinquent mortgage-holder Charlotte Jensen said. Behind on payments and not willing to wait for an eviction notice, she filed for bankruptcy, and left the home. Nearly a year later, still with no further payments, Bank of America has yet to take back the home. The total of the backlog is estimated at one million borrowers, sits on top of the one million foreclosure actions that had been taken this year through May. It presents a major obstacle for any kind of rebound or stability in the country’s hard hit real estate markets. It’s also an obstacle than can drive the market lower and then keep it there indefinitely. Banks are currently doing the best they can not to flood the market with foreclosures but each sale, when one occurs, is counted as a “comp” for appraisal purposes. Everything similar gets indexed to the comp until the next sells at a lower price. For evidence of properties being kept off of the market one need only look at one of highest foreclosure states in the country. California had 111,000 foreclosed properties which could have gone to auction in May. Of that number, only 17,000 went to auction and only 2,000 sold. If those kinds of numbers repeat for just a few months, the state will have a backlog that will take years to unwind. Properties that aren’t sold on the way down would most likely be sold as prices stabilize or start to bounce back, which would mute any recovery. “Lenders are having an immensely difficult time handling the capacity. They are torn between loan modification, short sales, foreclosures, and they are finding they can’t do all these things at once, and do them well, so we’re seeing a lot of things falling through the cracks,” said Howard Glaser, a housing industry consultant and a housing official during the Clinton administration. Mortgage lenders and investors in that scenario would be looking at more losses as a result of the mortgage crisis. “It just means foreclosure rates are going to keep rising,” said Patrick Newport, an economist for IHS Global Insight. Without an end to the downward spiral in prices any kind of meaningful recovery in the economy will be impossible. Another issue is the growing conflict of interest between mortgage investors and the companies that service the loans for them. In many cases, what is good for the servicers is bad for the investors and vice versa. For instance, in a home loan modification versus foreclosure situation, the servicer will favor the modification because it keeps payments and fees they can charge on them alive. The mortgage investors, seeing the potential for a decrease in cash flow as a result of the modification, will favor foreclosure as a means of getting their money out of the deal. The resulting stalemate can cause a house to sit in limbo while the servicers and lenders decide a course of action. For the homeowners in the situation, the stalemate can be beneficial as it allows them to stay in the house but the stress of knowing that an eviction can come at any time is tough to deal with. While some of the backlog reflects the inability of lenders to keep up with the sheer volume of delinquent properties, another reason is an intentional slowdown in the pace of foreclosures as government and industry try to work with borrowers who want to stay in their homes. Fannie Mae and Freddie Mac, the government-run mortgage financing companies, put a temporary moratorium on foreclosures late last year, some states imposed moratoriums, and many of the country’s largest lenders voluntarily participated as well. The extra time gave lenders time to see how the guidelines of the Obama Administration’s “Making Home Affordable” would work and which borrowers could be helped by modifying their current mortgages under the plan. Many of those moratoriums started expiring at the end of the first quarter of this year, and foreclosures have been setting records on a monthly basis since then. With potentially millions of foreclosed homes on the market and more coming every day, Prices have been hit across the country. The prices for existing homes fell another 16% in May versus the prices one year prior. The growing backlog of homes in limbo indicates that foreclosure rates are likely to increase dramatically during the second half of this year and into 2010. Some estimates are calling for foreclosures to reach 2.4 million by year end. Bob Bellack, chairman of Zetabid, which auctions foreclosed properties, said “Prices will fall to the point where you have equilibrium, and it won’t reach that until there is no longer this foreclosure overhang.” Financial firms that carry mortgages or mortgage-backed securities on their books are scrambling to stem past and anticipated losses with any means possible. Whether a sign of desperation or not, mortgage investors have thrown their support behind the Hope for Homeowners plan, a leftover from the Bush Administration which was considered an absolute flop the first time around. Intended to help over 400,000 homeowners at its outset, the plan originated only one loan. If the economy doesn’t turn, and without some sort of government assistance, continued foreclosures will result in continuing rounds of losses for investors. Being in limbo has allowed some homeowners the time to save money while not making mortgage payments and take action through the home loan modification process to save their homes from foreclosure. In general, however, statistics don’t bode well for homeowners once they start missing payments. According to a March report from NeighborWorks America, a large housing counseling group, 60 percent of homeowners go into foreclosure after missing more than four payments. Normal protocol is for the foreclosure process to start after the third payment has been missed but now it’s common for a foreclosure process to take nine months or more to get started, said Guy Cecala, publisher of Inside Mortgage Finance. “No one is in a rush, lender-wise, to deal with the property,” he said. “If you have to sell at a loss, why rush?” Another protocol has lenders writing down the value of the home six months after an owner stops making payments, but the total loss is not recorded until the property is sold in foreclosure, said Mark Zandi, chief economist of Moody’s Economy.com. “Some may feel that the property is worth more than the market can bear at this time, and they are willing to wait until the market improves”, he said. “They don’t want to sell it into a completely depressed market.” The typical foreclosure process varies by state and has been slowed down by the constant incoming volume. The timeline of the process is also dependent on who actually owns the mortgage and whether a bankruptcy has been filed by the homeowner. One of the biggest issues in the process now is that the phase preceding eviction, sale at auction, isn’t happening. Lenders, considering their workload and the costs of each foreclosure, aren’t eager to start a process which isn’t likely to be seen through to completion so limbo is the next best option. “During that period, where the property is in limbo, until there has been a sale of the property, the homeowner is still the owner, technically,” said John Rao of the National Consumer Law Center. Despite being seriously delinquent, homeowners can apply for a home loan modification to stay in their homes, even if they were turned down previously. Success after being turned down can be achieved if the homeowner has been hired into a new job, is generating more income, and/or by hiring legal representation to renegotiate the terms of the existing mortgage. The odds of approval are also increasing due to lenders’ reluctance toward taking more properties into foreclosure. Whatever they may have thought about home loan modifications before, at this point they’re a better option than either foreclosure or sitting in limbo. About Feldman Law Center The Feldman Law Center is one of California’s top loan modification companies, providing excellent service to our clients and is completely focused on keeping everyone one of our clients in their homes. Our loan modification experts work tirelessly to provide every homeowner we work with the information, guidance and support they need to modify their mortgages and keep the homes they’ve worked to buy. About Loan Modifications If you’re unfamiliar with what a loan modification is, a mortgage loan modification is quite possibly the most effective tool you can utilize if you are behind on your mortgage, and are in the midst of a financial hardship, in order to save your home from interesting foreclosure. A loan modification is literally is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified. The Feldman Law Center knows every law in California (and the country) that may be able to keep you in your home. Lenders would rather renegotiate the terms of your loan, and possibly even negotiate a principle reduction, than let the house go into foreclosure. With years of experience negotiating with lenders, as well as years of experience keeping people in their homes, the Feldman Law Center is one of the most experienced loan modification firms in all of California. Visit www.feldmanlawcenter.com or call 800-527-8497 for more information about California loan modifications. Feldman Law Center: Profile – Business ExchangeFeldman Law CenterLoan Modification – Feldman Law CenterFeldman Law Center, Mission Viejo CA 92691
|
RSS Feed