| Jul 20th 2009 |
| Blog Update: Loan Modification Scams |
| Loan modificaiton has gotten a lot of positive as well as negative press lately. There have been many foreclosure relief as well as loan modification related scams popping up. On April 6, 2009, the US Treasury department issued a press release, Federal, State Partners Announce Multi-Agency Crackdown Targeting Foreclosure Rescue Scams, Loan Modification Fraud, outlining the dangers and steps being taken to help consumers. Read more here. |
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| Jul 13th 2009 |
| Blog Update: Lender Accountability |
| Sometimes it seems like lenders are totally unresponsive to borrowers regarding loan modifications. The HUD has acknowledges this problem and for all FHA insured loans, lenders have to follow FHA servicing guidelines and regulations. I would like to outline exactly what the servicing guidelines and regulations are for FHA insured loans, so it is clear exactly what lenders are required to do. Read more here. |
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| Apr 28th 2009 |
| UPDATED KEY FINDINGS |
| We are proud to announce that the UPDATED FEDERAL GUIDELINES (Making Home Affordable) for Loan Modifcation has been integrated into our LoanModACHIEVER. The system now automatically proposes the best requested payment, interest rate and term. User will still have the flexibility to alter based on affordability. |
| 06:00am |
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| Apr 6th 2009 |
| Foreclosure prevention: Don't get scammed |
| (SOURCE: CNNMoney.com) -- The problem of mortgage-rescue fraud has ballooned as scammers have reacted to the Obama administration's stepped-up efforts to help borrowers in need. From Web ads to late-night TV spots, companies are soliciting struggling homebuyers and fraudulently promising to help them avoid foreclosure.
On Monday, the Treasury Department, the Department of Housing and Urban Development and several other federal and state agencies announced a crackdown on these scam artists
"Those who would seek to prey on the most vulnerable also seek to intensify their efforts as well," Treasury Secretary Tim Geithner said. "We will aggressively pursue those involved in mortgage rescue scams."
If you are in trouble and need help to fight off foreclosures, you should ask several questions before hiring anyone.
5 questions to ask
Complete article here: http://money.cnn.com/2009/04/06/real_estate/foreclosure_prevention_counselors/index.htm |
| 10:00am |
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| Apr 5th 2009 |
| Californias Ethics Alert May Become National Law |
| State Bar Ethics Alert Should Be A Warning to Loan Modification Consumers:
The California State Bar has issued an "Ethics Alert" to its member attorneys, warning them of possible ethical violations stemming from lending their name to so-called "foreclosure consultants" or "loan modification consultants" who advertise their services as being backed by an attorney. It seems that the attorneys involved with these companies frequently do little to no work in connection with the company's efforts and are otherwise not truly involved in the services being performed.
http://calbar.ca.gov/calbar/pdfs/ethics/Ethics-Alert-Foreclosure.pdf |
| 08:00am |
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| Demonstrate use of the LOAN MOD QUALIFIER. See LIVE on how each change of expenses changes the formula. Review individual scenarios with expert attendees - BRING YOUR FILES ALONG |
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