Posts Tagged ‘loan modification’

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Is Your Loan Modification Unsuccessful?

Thursday, January 13th, 2011

Short Sale Shift

Hello! We are keyed up about the subject that we are going to speak about today. Hopefully we can help some potential customers out in the new year. Is your loan modification uneffective? 70% of the potential customers that deal with us have attempted a loan modification or spoken about doing a loan mod with their bank. A lot of of those that spoke to the bank understood how hard it is or they were simply denied.

We’ve seen some loan modifications where the payment in fact went up. The other thing banks sometimes do is extend your loan. If you have a 30-year fixed mortgage, the bank might extend your loan to a 40-year fixed mortgage. Some homeowners will be paying their loan until they are 80 or 90 years old.

Especially with the Minnesota short sale being such a reliable alternative, we are stunned by people choosing the loan mod option. The bank also surprises us in this because if the lender would be smarter about loan mods, it would be a better alternative. If they made it easier and made the loan modification process work, you would not need us to assist with your Minnesota short sale. Nevertheless, that just isn’t the case. The banks have to get support from the investor on your loan mod. With the loan mod, there are clear rules, unlike the short sale. Right now, the loan mod procedure simply isn’t occuring for Minnesota homeowners or anyone in the country. Many times the homeowners that really do get a loan mod are still underwater or still have trouble making the payments.

If you are considering carrying out a loan modification on your Minnesota home, please give us a call or talk with us on our website. We can assist you!

Minnesota Short Sale Shift can answer your questions. We are Minnesota’s Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale Realtors, Josh and Sarah, at Short Sale Shift presented by the Short Sale Specialists of Minnesota

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Your Success Rate

Friday, October 1st, 2010

 

Although just about every property owner is eligible for a loan modification, each owner also faces a sliding scale of difficulty in negotiations with their lender. Some owners, such as those with one property, low-incomes and adjustable rate mortgages, are accepted automatically. Others owners, such as anchor textthose with multiple properties, incomes that have fallen but used to be high, or fixed-rate mortgages face a much more difficult negotiation.

 

Able Financial Solutions exists to help owners who face an uphill climb in their negotiations. Homeowners that have attempted a mortgage modification and have been turned down, even after trial payments. We know the frustration and aggravation you have faced and the time you have wasted.

 

Able Financial Solutions has the strategy, the know how, we understand how important your home is to you. We are here to help tell your story and help you improve your bargaining position, but ultimately it is you who succeeds, not us.

 

As much as we enjoy telling the world about individual clients we’ve helped, the one client who really counts is you. We consider every anchor textindividual we counsel and guide as a successful outcome. Some clients are better off not using our services, as they can achieve a beneficial mortgage loan modification on their own. Other clients may be eligible for our mortgage services, yet choose to explore some other avenues we recommend to resolve their issues.

 

Although not every homeowner qualifies for a modification after our initial interview and analysis, every modification we pursue will result in changes to one or more of the five mortgage terms at issue in the loan modification negotiation.

 

What is a successful loan modification? Let’s look at a typical loan we recently modified.

Client F.H. calls and speaks with an analyst August 23rd 2010, fearful because he received a Notice of Sale date, he was seven months past due and just turned down one month ago for a loan modification. He owed over $22,000. in past due payments and late fees. The lender set the sale date for September 23rd 2010. August 26th F.H. called back and asked Able Financial Solutions to represent him. The loan modification was completed September 21st, payments were reduced from $2,453. to $1,550. for the next 60 months. All past due amounts ($22,515) were negotiated anchor textand reduced by less than half ($10,000), and placed at the end of the loan.

No sale of the home, huge reduction in payments, dramatically reduced past due amount, no upfront fees, all on a loan which the home owner had tried to modify just recently in the past year.

 

Will your modification be similar? Only your circumstances can determine the outcome of your loan modification.

Do we have this type of success often?Every loan modification we complete has tremendous benefits for the homeowners.

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Different Loan Modification Programs – Understanding The Concept

Thursday, July 1st, 2010

“You may have realized that you can never keep up with the payments with your existing loan. Is your daily expenses affected greatly? If you are answered yes to the questions mentioned, you are fortunate since there are ways that you can solve this. Today, there is a program offered for those having trouble with keeping up with their loans. It’s called loan modification. Basically, it helps you b reducing the interest rates or giving you an extension with the term of your existing loan. To better help you, the program even includes a combination of the two so that you can be able to pay your loan off. Those who are investing and need enough time for their ROI and those who are economically unsound can take advantage of this program.

To qualify for this program, go to the bank and show them the proof of your financial condition and just explain to them how you are having a hard time with keeping up with your payments. Make sure that what you tell them is true then once you have proven your condition, they will show you different options to be able to manage your finances and one of these options of course will be the loan modification program. Rather than advising you to file for bankruptcy or foreclosing the property, you will be given other options. Of course, telling someone you don’t know about your financial condition may be difficult but don’t hesitate because they can only help you if you tell the truth. They will come up with different alternative course of actions to be able to create a win-win situation for you and the bank sooner or later.

It is the bank’s legal duty to give you a sound advice, considering your financial capability, regarding your finances so that you can avoid having a very high debt. Sometimes, the bank will even call you and encourage you to apply for a loan modification program if they see that you are qualified. They do this to avoid making you a fiscal liability and help you not lose a big amount of money. Banks see everything about your finances, from your pay stubs, tax returns and others so they surely know how much you can afford. Your job is to cooperate and submit all the requirements. Everything will eventually be easy to handle once you are aware of your financial capability.

Modifying your loan does not involve fees other than the interest rate which eventually will be lessened. The state allocated $75 billion for this program and they give incentives making banks more cooperative.”
If you are not knowledgeable with loan modification programs or perhaps about forensic loan audit do a research about it or have somebody who knows about numbers do it for you.

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How To Stop Foreclosure – 3 Legitimate Solutions

Tuesday, October 20th, 2009

A great resource: Stop Foreclosure In Houston

To Stop Foreclosure in nearly any city in the United States of America, there are basically only a few legitimate options. Some of these you’ll know, and some will be brand new to you.

Here are a few directions you can take:

  • Sell your house prior to the foreclosure auction. The value of this idea will vary heavily depending on the nature and quality of your local real estate market. If you’re in a market that still has very slow resale rates, selling your home could be a challenge. Ask a local real estate agent to determine the average number of days on the market for properties in your area.
  • Initiate a loan modification. A loan modification is a process through which your lender changes the payment terms of your loan to more closely match your ability to pay. While this is not a guarantee, loan modifications have become more popular in the last 12 months.
  • Refinance the property. If you are not yet fully into the foreclosure process but have reason to expect you will fall behind on your payments, it may be wise to try to refinance your mortgage to a lower rate. If your property is worth less than the balance of the mortgage, you’ll want to inquire regarding a “short refinance”, which is when a lender forgives a portion of the debt against you in order for you to refinance your property and pay off the remainder of the debt you owe.

When you’re trying to stop a foreclosure, the key is fast action.

Warning: Be very wary of people who aggressively attempt to purchase your home for investment purposes. While there are many legitimate real estate investors, there has been a significant amount of fraud with “Stop Foreclosure” scams, and it is wise to be very, very careful.

Please remember: The crisis you now face will soon be over. As a foreclosure survivor myself, I’d like to encourage you to remain hopeful, and to understand that your future does not equal your past!

Thanks for reading this information about how to stop foreclosure. I hope you’ve found value here.

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Posted in Uncategorized | No Comments »

How To Stop Foreclosure – 3 Legitimate Solutions

Tuesday, October 20th, 2009

A great resource: Stop Foreclosure Houston

To Stop Foreclosure in nearly any city in the United States of America, there are basically only a few legitimate options. Some of these you’ll know, and some will be brand new to you.

Here are a few directions you can take:

  • Sell your house prior to the foreclosure auction. The value of this idea will vary heavily depending on the nature and quality of your local real estate market. If you’re in a market that still has very slow resale rates, selling your home could be a challenge. Ask a local real estate agent to determine the average number of days on the market for properties in your area.
  • Initiate a loan modification. A loan modification is a process through which your lender changes the payment terms of your loan to more closely match your ability to pay. While this is not a guarantee, loan modifications have become more popular in the last 12 months.
  • Refinance the property. If you are not yet fully into the foreclosure process but have reason to expect you will fall behind on your payments, it may be wise to try to refinance your mortgage to a lower rate. If your property is worth less than the balance of the mortgage, you’ll want to inquire regarding a “short refinance”, which is when a lender forgives a portion of the debt against you in order for you to refinance your property and pay off the remainder of the debt you owe.

When you’re trying to stop a foreclosure, the key is fast action.

Warning: Be very wary of people who aggressively attempt to purchase your home for investment purposes. While there are many legitimate real estate investors, there has been a significant amount of fraud with “Stop Foreclosure” scams, and it is wise to be very, very careful.

Please remember: The crisis you now face will soon be over. As a foreclosure survivor myself, I’d like to encourage you to remain hopeful, and to understand that your future does not equal your past!

Thanks for reading this information about how to stop foreclosure. I hope you’ve found value here.

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Posted in Uncategorized | No Comments »

How To Stop Foreclosure – 3 Legitimate Solutions

Tuesday, October 20th, 2009

A great resource: http://realestate.bryanellis.com/1565/stop-foreclosure-in-houston-3-legitimate-solutions/

To Stop Foreclosure in nearly any city in the United States of America, there are basically only a few legitimate options. Some of these you’ll know, and some will be brand new to you.

Here are a few directions you can take:

  • Sell your house prior to the foreclosure auction. The value of this idea will vary heavily depending on the nature and quality of your local real estate market. If you’re in a market that still has very slow resale rates, selling your home could be a challenge. Ask a local real estate agent to determine the average number of days on the market for properties in your area.
  • Initiate a loan modification. A loan modification is a process through which your lender changes the payment terms of your loan to more closely match your ability to pay. While this is not a guarantee, loan modifications have become more popular in the last 12 months.
  • Refinance the property. If you are not yet fully into the foreclosure process but have reason to expect you will fall behind on your payments, it may be wise to try to refinance your mortgage to a lower rate. If your property is worth less than the balance of the mortgage, you’ll want to inquire regarding a “short refinance”, which is when a lender forgives a portion of the debt against you in order for you to refinance your property and pay off the remainder of the debt you owe.

When you’re trying to stop a foreclosure, the key is fast action.

Warning: Be very wary of people who aggressively attempt to purchase your home for investment purposes. While there are many legitimate real estate investors, there has been a significant amount of fraud with “Stop Foreclosure” scams, and it is wise to be very, very careful.

Please remember: The crisis you now face will soon be over. As a foreclosure survivor myself, I’d like to encourage you to remain hopeful, and to understand that your future does not equal your past!

Thanks for reading this information about how to stop foreclosure. I hope you’ve found value here.

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Posted in Uncategorized | No Comments »

How To Stop Foreclosure – 3 Legitimate Solutions

Sunday, October 18th, 2009

A superb resource: Stop Foreclosure Houston

To Stop Foreclosure in nearly any city in the United States of America, there are basically only a few legitimate options. Some of these you’ll know, and some will be brand new to you.

Here are a few directions you can take:

  • Sell your house prior to the foreclosure auction. The value of this idea will vary heavily depending on the nature and quality of your local real estate market. If you’re in a market that still has very slow resale rates, selling your home could be a challenge. Ask a local real estate agent to determine the average number of days on the market for properties in your area.
  • Initiate a loan modification. A loan modification is a process through which your lender changes the payment terms of your loan to more closely match your ability to pay. While this is not a guarantee, loan modifications have become more popular in the last 12 months.
  • Refinance the property. If you are not yet fully into the foreclosure process but have reason to expect you will fall behind on your payments, it may be wise to try to refinance your mortgage to a lower rate. If your property is worth less than the balance of the mortgage, you’ll want to inquire regarding a “short refinance”, which is when a lender forgives a portion of the debt against you in order for you to refinance your property and pay off the remainder of the debt you owe.

When you’re trying to stop a foreclosure, the key is fast action.

Warning: Be very wary of people who aggressively attempt to purchase your home for investment purposes. While there are many legitimate real estate investors, there has been a significant amount of fraud with “Stop Foreclosure” scams, and it is wise to be very, very careful.

Please remember: The crisis you now face will soon be over. As a foreclosure survivor myself, I’d like to encourage you to remain hopeful, and to understand that your future does not equal your past!

Thanks for reading this information about how to stop foreclosure. I hope you’ve found value here.

Tags: , , , ,
Posted in Uncategorized | No Comments »

How To Stop Foreclosure – 3 Legitimate Solutions

Sunday, October 18th, 2009

A superb resource: Stop Foreclosure In Houston

To Stop Foreclosure in nearly any city in the United States of America, there are basically only a few legitimate options. Some of these you’ll know, and some will be brand new to you.

Here are a few directions you can take:

  • Sell your house prior to the foreclosure auction. The value of this idea will vary heavily depending on the nature and quality of your local real estate market. If you’re in a market that still has very slow resale rates, selling your home could be a challenge. Ask a local real estate agent to determine the average number of days on the market for properties in your area.
  • Initiate a loan modification. A loan modification is a process through which your lender changes the payment terms of your loan to more closely match your ability to pay. While this is not a guarantee, loan modifications have become more popular in the last 12 months.
  • Refinance the property. If you are not yet fully into the foreclosure process but have reason to expect you will fall behind on your payments, it may be wise to try to refinance your mortgage to a lower rate. If your property is worth less than the balance of the mortgage, you’ll want to inquire regarding a “short refinance”, which is when a lender forgives a portion of the debt against you in order for you to refinance your property and pay off the remainder of the debt you owe.

When you’re trying to stop a foreclosure, the key is fast action.

Warning: Be very wary of people who aggressively attempt to purchase your home for investment purposes. While there are many legitimate real estate investors, there has been a significant amount of fraud with “Stop Foreclosure” scams, and it is wise to be very, very careful.

Please remember: The crisis you now face will soon be over. As a foreclosure survivor myself, I’d like to encourage you to remain hopeful, and to understand that your future does not equal your past!

Thanks for reading this information about how to stop foreclosure. I hope you’ve found value here.

Tags: , , , ,
Posted in Uncategorized | No Comments »

How To Stop Foreclosure – 3 Legitimate Solutions

Saturday, October 17th, 2009

A superb resource: Stop Foreclosure In Houston

To Stop Foreclosure in nearly any city in the United States of America, there are basically only a few legitimate options. Some of these you’ll know, and some will be brand new to you.

Here are a few directions you can take:

  • Sell your house prior to the foreclosure auction. The value of this idea will vary heavily depending on the nature and quality of your local real estate market. If you’re in a market that still has very slow resale rates, selling your home could be a challenge. Ask a local real estate agent to determine the average number of days on the market for properties in your area.
  • Initiate a loan modification. A loan modification is a process through which your lender changes the payment terms of your loan to more closely match your ability to pay. While this is not a guarantee, loan modifications have become more popular in the last 12 months.
  • Refinance the property. If you are not yet fully into the foreclosure process but have reason to expect you will fall behind on your payments, it may be wise to try to refinance your mortgage to a lower rate. If your property is worth less than the balance of the mortgage, you’ll want to inquire regarding a “short refinance”, which is when a lender forgives a portion of the debt against you in order for you to refinance your property and pay off the remainder of the debt you owe.

When you’re trying to stop a foreclosure, the key is fast action.

Warning: Be very wary of people who aggressively attempt to purchase your home for investment purposes. While there are many legitimate real estate investors, there has been a significant amount of fraud with “Stop Foreclosure” scams, and it is wise to be very, very careful.

Please remember: The crisis you now face will soon be over. As a foreclosure survivor myself, I’d like to encourage you to remain hopeful, and to understand that your future does not equal your past!

Thanks for reading this information about how to stop foreclosure. I hope you’ve found value here.

Tags: , , , ,
Posted in Uncategorized | No Comments »

How To Stop Foreclosure – 3 Legitimate Solutions

Thursday, October 15th, 2009

A great resource: Stop Foreclosure Houston

To Stop Foreclosure in nearly any city in the United States of America, there are basically only a few legitimate options. Some of these you’ll know, and some will be brand new to you.

Here are a few directions you can take:

  • Sell your house prior to the foreclosure auction. The value of this idea will vary heavily depending on the nature and quality of your local real estate market. If you’re in a market that still has very slow resale rates, selling your home could be a challenge. Ask a local real estate agent to determine the average number of days on the market for properties in your area.
  • Initiate a loan modification. A loan modification is a process through which your lender changes the payment terms of your loan to more closely match your ability to pay. While this is not a guarantee, loan modifications have become more popular in the last 12 months.
  • Refinance the property. If you are not yet fully into the foreclosure process but have reason to expect you will fall behind on your payments, it may be wise to try to refinance your mortgage to a lower rate. If your property is worth less than the balance of the mortgage, you’ll want to inquire regarding a “short refinance”, which is when a lender forgives a portion of the debt against you in order for you to refinance your property and pay off the remainder of the debt you owe.

When you’re trying to stop a foreclosure, the key is fast action.

Warning: Be very wary of people who aggressively attempt to purchase your home for investment purposes. While there are many legitimate real estate investors, there has been a significant amount of fraud with “Stop Foreclosure” scams, and it is wise to be very, very careful.

Please remember: The crisis you now face will soon be over. As a foreclosure survivor myself, I’d like to encourage you to remain hopeful, and to understand that your future does not equal your past!

Thanks for reading this information about how to stop foreclosure. I hope you’ve found value here.

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Posted in Uncategorized | No Comments »

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