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Last Build Date: Fri, 28 Aug 2009 08:54:00 GMT


Feldman Law Center - Loan Modification Help Center

Fri, 28 Aug 2009 08:54:00 GMT

The Truth About Loan Modifications Whìle ìnvestìgatìng loan modìfìcatìons, percentages are you'll fìnd all sorts of ìnformatìon onlìne that gìve you all sorts of ìnformatìon. Some of that ìnfo may be paradoxìcal. Whìle ìt's all well and good for dìfferent companìes to supply dìfferent vìewpoìnts, you most lìkely need the kìnd of ìnformatìon whìch wìll help you keep your home. Feldman Law Center - Mortgage Payments A loan alteratìon ìs a renegotìatìon of the terms of your loan to lower your monthly payments. Loan alteratìons are a better choìce than bankruptcy for many folks, especìally ìf you're attemptìng to declare bankruptcy just to prevent foreclosure. Bankruptcy has a negatìve effect on your credìt, and that negatìve ìmpact lasts up to ten years. ìt's sort of lìke droppìng a bomb to annìhìlate a fly. A loan modìfìcatìon wìll help you stay ìn your home wìthout havìng a major mark agaìnst you for years and years. Feldman Law Center - Avoid Foreclosures Bankruptcìes also have an effect on other areas of your lìfe, ìncludìng lìnes of credìt, automobìle loans, jobs and even hìrìng lofts. Bankruptcìes are also not a sure fìre way to avoìd foreclosure, because ìt may not have the specìfìed effect. Foreclosure proceedìngs take a few months typìcally, and at the end you are not only about to lose your home, but you mìght be on the hook for any debt owed on the house. That's a double whammy, and a crìpplìng set of monetary cìrcumstances for most of the people. Foreclosure ìs a frìghtful sìtuatìon for most but a loan alteratìon may be the answer to the sìtuatìon. A Calìfornìa loan modìfìcatìon could keep you ìn your home for much longer, ìn part because ìt ìncorporates the bank ìnto the method. A loan modìfìcatìon engages wìth the lender, negotìatìng new loan terms to lower the monthly payment. Feldman Law Center - Experience and Knowledge Loan modìfìcatìon attorneys can negotìate wìth the bank for you, makìng use of theìr experìence and data to get the hottest deal possìble . Loan modìfìcatìon attorneys are truly a great resource, and have helped countless Calìfornìans stay ìn theìr homes. Visit us at or call 800-359-6941. the data contaìned hereìn ìs provìded for general ìnfo and advertìsìng purposes only and ìs not ìntended to convey a legal optìon nor legal advìce for any specìal case or sìtuatìon. Nothìng ìn thìs artìcle shall create an attorney-clìent relatìonshìp. Nothìng contaìned ìn thìs artìcle shall be construed to be a warranty or predìctìon of result. Prìor results are provìded for general ìnformatìon purposes only and do not guaranty, warranty or predìct a sìmìlar result wìth respect to any future matter. Results achìeved rely on ìndìvìdual cìrcumstances and not everybody wìll qualìfy or achìeve success ìn restructurìng theìr mortgage loan. .[...]

Feldman Law Center- Principal Reduction and Loan Modification

Mon, 17 Aug 2009 03:26:58 GMT

Feldman Law CenterDuring our country's's continuing recession, which was fueled by a crash in real estate, homeowners are looking into ways they can stay in their houses. Banks are willing to work with folks who fit certain factors, and with a professional home loan modification professional, a loan modification will help you reduce your monthly home loan payments and stay in your house. One of the options open to you is the lowering of the principal balance of a loan. This is potentially the least used option because it involves lowering the amount the loan is for, based upon certain factors. Mortgage lenders are reducing principal balances for homeowners, but it is not simple and it is not a common occurrence. Less qualified California loan modification lawyers often overlook this option because of the work it takes to make this occur. To house owners who have houses that have reduced in worth, they believe that the lender should understand why they don't seem to be ready to pay a high regular payment. What the general public do not understand however is a principal reduction is not always the bank's decision to make. Banks and mortgage lenders sold many mortgages to third party financiers, and to get a principal reduction the 3rd party speculators have to agree to a house loan modification and determine how much of a loan modification they are prepared to give. Mostly, a California home loan modification will comprise a lower rate of interest that may lead to a lower payment. However, with a highly qualified California loan modification solicitor, a principal reduction is not out of the question. A principal reduction is always the bank's last option and they can only consider it if the home in query is much less valuable than the loan. ultimately, the goal of a California mortgage modification is to scale back your monthly payments so that you can continue to make them and persist through this economy. A loan modification solicitor can work with you to sketch out your options, work with lenders, take care of the forms and so forth . A principal reduction might be something you've never even thought of ; and, while it is not always an option, a California mortgage modification company with the sort of experience that the Feldman Law Center has will help you explore that option. Thru California, lenders are more than willing to debate loan modifications so that you can keep on making payments rather than having to go through foreclosure, declare bankruptcy or go through a short sale. Loan modifications have helped house owners from San Diego to Eureka, and with California loan modifications and FDIC loan modifications available, there is no reason to need to lose your home. if you are now looking at foreclosure, if you are having a hard time making your mortgage payments or if you have a subprime loan that has swelled your monthly payments, then you must contact a qualified California home loan modification solicitor today. Staying in your home might be a fact that you did not think was possible . Visit us at or call 800-588-0425. Feldman Law CenterLegal Disclaimer the information contained herein is provided for general info and advertising purposes only and is not intended to convey a legal option nor legal help for any special case or situation. Nothing in this article shall create an attorney-client relationship. Nothing sent to this law office through email shall constitute an attorney-client relationship. Nothing contained in this article shall be interpreted to be a guarantee or prediction of result. Previous results are supplied for general info purposes only and do not guaranty, warranty or predict an identical result with regard to any future matter. Results achieved rely on individual circumstances and not everybody will qualify or achieve success in restructuring their mortgage loan.[...]

Feldman Law Center - Foreclosure Auctions

Fri, 07 Aug 2009 10:01:04 GMT

Feldman Law Center - California Foreclosure Auctions

The foreclosure process can be tough to understand and hard to navigate. Having a professional California loan modification attorney by your side to help you avoid foreclosure is one of the finest things any home-owner can do right now. Foreclosures have cost numerous folk their homes, leaving entire districts in Californiahoneycombed with empty homes. With numerous Fed. and California loan modification programs available, the time is right for a California loan modification.

Part of the foreclosure process is the foreclosure auction. At a foreclosure auction, which is usually held on the steps of a courthouse, an opening bid on the property is set by the foreclosing bank. Generally, the opening bid ( the opening amount potential buyer's can pay ) is the same as the outstanding loan balance, the accumulated interest and any addition fees ( including attorney charges ) associated with the sale. In several cases, there are no bids higher than the opening bid, in which case the foreclosed property is acquired by the Feldman Law Center attorney conducting the sale, for the lender.

Should the Feldman Law Center attorney wind up purchasing the property, the foreclosed home is deemed an REO ( real estate Owned ). Many California repos fall into this class because they're worth less than the whole amount owed to the bank or bank. If some other person is purchasing property at a California foreclosure sale, the junior liens ( with the exception of property taxes ) are eliminated.

It seems extremely cut and dried, all sorts of rules are instituted so that banks can simply get whatever cash they may be able to for a foreclosed home. California loan modification attorneys have watched thousands of families stand by and see their home go up for auction, homes they fought tough to purchase and live in. California loan modification corporations, for example the Feldman Law Center, know that behind each foreclosure auction is the story about a family that has to try to overcome this ghastly crisis. When the bank comes calling for cash you don't have, or when your monthly mortgage payment doubles and triples, it frequently feels as if you have no one around to help. However,Feldman Law Center loan modification companies are here to fight for you and help you to avoid foreclosure.

In reality, a bank would rather arrange a loan modification than go through the foreclosure process. Repos are time consuming, require additional capital and as noted above it is rare they make cash off of the deal. At best, they can only hope to come out even, but that is not necessarily the case. A loan modification is good for you and good for the bank, if you can get a California loan modification attorney who is able to barter properly.

If you are facing foreclosure, or if you believe a California loan modification might be good for you, contact the Feldman Law Center to get answers to all of your questions and concerns. Ignoring the problem won't make it disappear.

Visit us at or call 800-588-0425.

Do Loan Modifications Work?

Thu, 06 Aug 2009 03:52:39 GMT

Fitch Ratings has put out a report examining the effectiveness of loan modifications in terms of keeping homeowners out of foreclosure. Their findings make the initial reports of massive failure rates seem like the good old days. Reports that had come out earlier in year found that fifty percent of modifications done in the first half of 2008 had gone back into default by year-end. The new study by Fitch estimates that between 65% and 75% of modified subprime loans will become 60-days or more delinquent again within a year of the loan modification.

Feldman Law Center Ripoff

Modifications can combine lower interest rates, maturity date extensions, changing from adjustable to fixed interest rates, and the reduction of principle. Of the four, principle reductions are statistically the best way to ensure the long term success of a loan modification. According to LPS Applied Analytics, modifications that included principle reductions have a 25% lower refault rate than those without a reduction. Fitch's numbers concurred with those numbers, finding that modifications with principle reductions had a 40% to 50% chance of a refault. Not surprisingly, Fitch found that modifications where loan principle was increased due to missed payments and penalties being added to the backend of the loan had a refault rate of 60% to 70%

At issue is whether homeowners going it alone in negotiations with lenders are getting enough in the way of concessions to make their modifications sustainable. The do it yourself modification typically takes into account only the homeowners income in relation to a modified payment. Lenders, who are trying to mitigate their own losses during the negotiation process, aren't volunteering to give more than what the homeowner is negotiating for during the process so the modification ends up buying time but not much else. Additional consumer debt and other expenses are often not factored in to the negotiations leaving the homeowner with a continuing monthly payment deficit which then leads to re-default.

Feldman Law Center Ripoff

One solution to this problem is for the homeowner to retain professional counsel to both analyze the total financial picture and to negotiate the modification according to what is going to work within the specific circumstances of the homeowner. The objectivity and experience of a professional negotiator will undoubtedly yield better a better outcome for the loan modification, which in turn will result in a sustainable monthly payment.

Legal Disclaimer
The information contained herein is provided for general information and advertising purposes only and is not intended to convey a legal option nor legal advice for any particular case or situation. Nothing in this article shall create an attorney-client relationship. Nothing sent to this law office via e-mail shall constitute an attorney-client relationship. Nothing contained in this article shall be construed to be a guarantee or prediction of result. Prior results are provided for general information purposes only and do not guaranty, warranty or predict a similar outcome with respect to any future matter. Results achieved depend on individual circumstances and not everyone will qualify or be successful in restructuring their mortgage loan.
Feldman Law Center Ripoff
- Solution - Modifications