Tag Archives: Loan Modification
What Foreclosure Laws Did We Lose In 2017?
December 31, 2016, marked the end of many programs designed to help people in foreclosure: HAMP (Home Affordable Modification Program), HAFA (Home Affordable Foreclosure Alternatives), HARP (Home Affordable Refinance Program) and MDRA (Mortgage Debt Relief Act). What did we lose and what are the alternatives now that they’re gone? HAMP provided loan modification incentives… Read More »
Bankruptcy Chapter 6.5
I recently released a blog and related podcast about the bankruptcy code being broken into 9 chapters, all odd numbered except for one even numbered chapter. That post failed to mention a Chapter 6.5, which you won’t find in the bankruptcy code, and you won’t even find it mentioned in the halls of the… Read More »
Five Factors That Make Up Credit Score
When clients come to see us about foreclosure, loan modification, short sale, bankruptcy or debt settlement, one concern is the impact of all of these things on their credit score. While we understand that concern, it is often overshadowed by our goal of reducing debt, because credit can be rebuilt. We first need to… Read More »
Your Attorney’s Biggest Frustrations
Okay, so these may not necessarily reflect your attorney’s biggest frustrations, but they represent mine. While we are sympathetic, there are some clients or some prospects that we are unable to help, because: Unrealistic Expectations: These are the clients that believe that the practice of law is like an episode of “Law & Order.”… Read More »
Can I Get A Mortgage Loan Modification Without Providing Documents?
The simple answer is “no, you are unable to get a mortgage loan modification without providing documentation.” People who refuse to provide documents to the bank fall into one of three categories:(1) unable to provide documents because the documents do not exist – these are people who keep poor records, (2) unable to provide… Read More »
What Option Is Better: Loan Modification Or Chapter 13?
We recently posted a blog describing options for when the homeowner having mortgage problems wants to sell the property, but what about the homeowner who wants to keep the property? Those homeowners have options too! The best options for a homeowner who wants to keep the house are to reinstate the loan, refinance the… Read More »
Short Sale And Loan Modifications: What Is A “Hardship?”
“Hardship” when negotiating a short sale or loan modification are circumstances that demonstrate a drop in income or an increase in expenses. One of the questions we are asked most frequently is “Do I qualify for a short sale or loan modification?” The answer depends on the homeowner’s hardship. The most common examples of… Read More »
