Tag Archives: Foreclosures

Business Leader Announces Wonderful Strides Helping Homeowners Reduce Foreclosures And Obtain Inexpensive Mortgage Payments.

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Palm Beach Gardens, Fla. (PRWEB) October 28, 2008

First Universal Lending, announced today that it has been attaining a big volume of accomplishment in it is ongoing negotiations with lending institutions to assist their clients with their loan modifications, and in particular has been conducting settlement conferences with lenders in the offices of Very first Universal.

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First Universal Lending has built an in depth functioning relationship with a quantity of lenders and mortgage servicing facilities nationwide, and now has a number of them in fact visiting their corporate workplace on a weekly basis to deal with the large volume of customers directly.

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First Universal Lending helps thousands of clientele by handling the frequently tedious and tough activity of renegotiating their current mortgage terms with their current lenders. This is accomplished through Very first Universals vast group of very educated specialists, and state of the art software systems, all created with the aim of attaining total client record automation, and speed along with efficiency as a result saving their clients from the hours and hours of back and forth dealings with their frequently unorganized and overburdened lender.

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About Very first Universal Lending LLC&#13

First Universal Lending LLC is a lender that has been servicing retail clientele considering that 2002 and the wholesale and securitization enterprises dates back to 1994. With billions of dollars in transactions and a group of in excess of 200 in personnel, Initial Universal is a leading private organization in the consumer finance market. The firm is a member of the Greater Business Bureau and after servicing in excess of 100,000 thousand clientele the firm has a “B” Rating andhas a complaint price of much less than one particular half of 1 percent. The firm also has had added strategic relationships all through its existence with higher profile lending institutions and service providers/counter parties, like Washington Mutual, Lehman Brothers, HSBC Bank, Goldman Sachs, mortgage division and the Lending Tree group of businesses. The firm supplies additional financial industry services by means of a quantity of other affiliated enterprises, such as but not limited to, Emery Fed Inc., which is a division of Emery Federal Credit Union and Western Thrift &amp Loan — a depository institution that has the approval to supply loans via key financial institutions in the majority of all states in North America.

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Citi Announces New Preemptive Initiatives to Help Homeowners Stay in Their Properties : Initiatives build on and accelerate Citi’s complete loss mitigation efforts, which have prevented around 370,000 foreclosures representing more than $35 billion in loans since early 2007

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NEW YORK (PRWEB) November 10, 2008

Launches Citi Homeowner Help system. Starting now, and over the next six months, this program will preemptively reach out to a pick group of 500,000 homeowners whose mortgages Citi holds these home owners are not at present behind on their mortgage payments, but some may possibly call for support to remain existing on their mortgages. This work is anticipated to result in workouts of approximately $ 20 billion in underlying mortgage balances. Citi is focusing specifically on borrowers in places that are most likely to face extreme financial distress. Extends foreclosure moratorium practice. Citi will systematically implement its practice of not initiating a foreclosure or completing a foreclosure sale on any eligible borrower exactly where Citi owns the mortgage, the borrower is looking for to keep in the property which is his/her principal residence, is functioning in great faith with Citi, and has enough earnings for inexpensive mortgage payments. In addition, in order for its efforts to have the broadest possible influence, Citi is functioning diligently with investors to secure their approval to expand the program to consist of mortgages Citi services but does not personal. Citi also lately streamlined its current loan modification system, which is equivalent to the FDIC/IndyMac model, to aggressively rework delinquent loans. This plan uses a simplified formula to decide an reasonably priced payment as a percentage of the borrower’s gross income and then reduces the monthly payment to that

Fannie Mae And Freddie Mac Will Modify Loans – six Million Households Face Foreclosures – Loan Modifications To Reduce Foreclosure By April

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Pleasant Grove, Utah (PRWEB) March four, 2009

There is some very good news concerning loan modification, Fannie Mae and Freddie Mac will modify loans below Obama’s program. Though Loan Modification is a viable way to reduced your payments, beware of loan modification scams. FBI is conscious of this increasing dilemma of loan modification fraud, they have not been capable to act rapidly adequate to stave off the fraud wave.

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Against a backdrop of record-low new residence sales and ballooning losses from foreclosures, Housing Secretary Shaun Donovan told lawmakers Thursday that the lending industry is set to launch the Obama administration’s $ 75 billion foreclosure prevention plan next week. Donovan stated “we anticipate to see huge numbers of loan modifications take place really rapidly,” and hopes it would lead to foreclosure prices to drop as soon as April.

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Donovan said the plan will permit “borrowers with massive debts and unaffordable mortgages to have their property loans modified to reduce the monthly payment”, even if they are not in default. Borrowers who owe up to five percent far more than their home’s existing worth will be able to refinance, if their mortgages are held by mortgage finance firms Fannie Mae or Freddie Mac. At the very same time, loan modifications will be available for borrowers who owe up to 50 % much more than their home’s at present worth. Donovan stated “we expect to see massive numbers of modifications occur very rapidly,” and hopes it would cause foreclosure rates to drop as quickly as April.

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At the same time the “FBI is conscious of the developing difficulty of loan modification fraud”, they have not been capable to act swiftly enough to stave off the fraud wave. They report that they have over 1,500 mortgage fraud investigations more than the final month.

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Sean Walker CEO of HomeSaversUtah (http://HomeSaversUtah.com). and President of Good Neighbor Loans, LLC, (http://gnmloans.com), emphasized there are many factors which a homeowner ought to be conscious of when functioning with a loan modification firm.

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State Bar Delivers Webinar On Loan Modification, Brief Sales and Foreclosures On March 18, 2009

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San Francisco, California (PRWEB) March 12, 2009

Attorneys, real estate brokers and financial experts can understand about “Loan Modifications, Quick Sales, Foreclosures – Do’s and Don’ts” in a live webinar that will be offered Wednesday March 18, 2009. The 1.25-hour webinar starts at 12:15 p.m. Pacific Time.

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This program’s distinguished faculty includes Wayne S. Bell, Chief Counsel and Assistant Commissioner of the California Division of Actual Estate.

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The webinar is sponsored by the Litigation Section of the State Bar of California and provides 1.25 hours of total participatory MCLE credits, such as .5 hours of credit for ethics. The webinar is a reside audio and visual presentation with a knowledgeable faculty panel. Those who sign up can participate from a personal computer with an web connection and a phone. To register or for more info, visit the State Bar of California on the internet catalog.

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Participants in the webinar will discover about:&#13

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Department of Real Estate licensing needs and exemptions – who can negotiate loan modifications? &#13
Scope of the attorney exemption from the DRE licensing specifications-Company &amp Professions code sections 10133(a)(three) &amp 10133.1(a)(5).&#13
DRE Advance Fee Requirements – important elements of advance fee agreements and trust account specifications.&#13
Lawyer-Broker Arrangements – ethical guidelines, prohibitions and pitfalls, like fee sharing under State Bar Rule 1-320 unauthorized practice of law failure to supervise risks and restrictions regarding joint advertising prohibition on referral costs and conflicts of interests. &#13
Mortgage Foreclosure Consultants Act, Civil Code section 2945, including “who is a mortgage foreclosure consultant and who is exempt?” requirements and limitations for mortgage foreclosure consultants and penalties for violation.&#13
Home Equity Sales Act — Civil Code section 1695.three, which includes procedural and substantive needs for contracting with homeowner in foreclosure and prohibitions on unconscionable conduct.&#13
Other Laws Pertaining to Loan Modifications and Foreclosures, like Civil Code section 2923.six (powerful July 8, 2008) [governing servicer’s duties below Pooling Agreements] Civil Code section 2923.five [lender/trustee may not file notice of default until 30 days following make contact with is produced with borrower to explore choices to steer clear of foreclosure] and SB 1737 (supplying discipline for any actual estate licensee who in connection with a short sale offers an inaccurate opinion of value in order to acquire a monetary advantage).

About the Faculty

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Wayne S. Bell, Chief Counsel and Assistant Commissioner for Legal Policy &amp Recoery, California Division of Actual Estate. Mr. Bell is an advisor to the commissioner and is a member of the Commissioner’s executive committee. Prior to his appointment at DRE in 2006, Mr. Bell worked in the Workplace of the Basic Counsel of the California Housing Finance Agency (CalHFA).

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Michele L. McGill, Law Workplace of Michele L. McGill, San Francisco. Ms. McGill is an attorney engaged in the practice of real estate law as well as elder monetary abuse and predatory lending matters. Ms. McGill has lectured on advance litigation strategies and treatments in actual estate and elder economic abuse instances. Ms. McGill is Secretary of the San Francisco Bar Association True Estate Section and is a member of the Executive Committee of the State Bar of California Litigation Section. She also serves as a judge pro tem for the San Francisco Superior Court as properly as a mediator for the Bar Association of San Francisco.

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Diane Karpman, Karpman &amp Associates, Los Angeles. Ms. Karpman, a former State Bar Court Referee, is an ethics expert who has counseled lawyers for two decades. She has lectured to state and neighborhood bar associations. She is a contributing editor for Bender’s Attorney Ethics coauthor of the California Lawyer’s Guide to Expert Responsibility. She writes a month-to-month column known as “Ethics Byte” for the Cal Bar Journal.

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Mark A. Mellor, Mellor Law Firm, Riverside. Mr. Mellor is a genuine estate, building and enterprise litigation attorney who has a secondary law firm, California Mortgage Help Coalition, APLC, exclusively operating on loan modifications. He is the past Chair and current advisor to the State Bar of California Litigation Section Executive Committee.

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Fred Arnold. Mr. Arnold is President of the California Association of Mortgage Brokers and a mortgage broker with American Household Funding. In his capacity as President of CAMB, he has lectured genuine estate licensees concerning the Division of Real Estate guidelines and regulations regarding mortgage modification and brief sales.

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The price tag of the webinar is $ 68.75. Right after the reside webcast, the webinar will be accessible for viewing by means of the State Bar of California on-line catalog.

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Loan Modification Companies and Homeowners Get a Second Possibility – Quick Sale Pros Reduces Foreclosures By means of Intelligent Partnerships

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San Diego, CA (PRWEB) July 14, 2009

As numerous home owners are being denied loan modifications and put on the path to foreclosure, one novel business, Quick Sale Pros, offers options designed to stay away from foreclosure by assisting loan modification organizations and home owners with no-expense brief sale negotiation services.

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Though a short sale is not the first option for most property owners considering that it requires them to stroll away from their home, the statistics have shown that more property owners are becoming denied loan modifications even with government intervention and expert support from a loan modification firm. The banks have also realized a lot more than 50% of loan modifications go into re-default. A modification turndown or re-default frequently leads the homeowner into foreclosure because they are unaware that a brief sale could nonetheless be a viable choice.

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“It is quite sad to meet home owners who have been relying on a loan modification to resolve their troubles only to find out that they have been denied. Most consider the only selection is foreclosure which can destroy a individual emotionally and financially for five or far more years. Brief sales are an alternative that most property owners can make use of to get back on their feet sooner by walking away from their residence into a much more cost-effective rental,” said Michael Corradini, CEO of Brief Sale Pros. “There are unique positive aspects to the homeowner by way of Brief Sale Pros that a loan modification company or a Realtor alone cannot supply.”

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Many loan modification organizations are not in a position to get a modification authorized in time to avoid foreclosure and are overwhelmed attempting to negotiate short sale themselves, straining their frequently restricted sources.

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According to Michael Taylor at LMS, a major loan modification company, “Short Sale Pros delivers a exclusive solution when the lender is unable to make an inexpensive modification for the homeowner. Not only does the homeowner get aid for no-price, the partnership also frees our sources and we are rewarded as an affiliate.” Short Sale Pros gives loan modification businesses revenue share possibilities as well as new loan modification applicants through its partnership with America’s Lead Source.

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“At Quick Sale Pros, we encourage property owners to get informed about their possibilities at ShortSalePros.com or government sites such as MakingHomesAffordable.gov,” added Michael Corradini.

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Primarily based in San Diego, California, Quick Sale Pros is assisting lead America’s recovery as 1 of the quickest developing short sale negotiation firms. They are the only organization to provide no-expense negotiations to Home owners, full commissions to REALTORS

Brookstone Law, Computer Predicts Boost in California Foreclosures

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Newport Beach, CA (PRWEB) January 15, 2011

Despite a decrease in California foreclosures reported for December, 2010, the foreclosure crisis in the state is going to get worse, not far better, in 2011, according to Vito Torchia, Jr., managing lawyer of Brookstone Law, Pc.

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There are pending circumstances against main banks filed by state Attorney Generals throughout the nation, and the current selection in Massachusetts is an example of how main lenders are failing to prove they personal the mortgages on which they are foreclosing. There are literally millions of mortgages all through the nation in which ownership is in query. This is a crisis of the highest order and one particular that will continue to have a large impact on the state and the nation. said Vito Torchia, Jr.

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According to the Occasions, the Massachusetts case was substantial due to the fact it was the first time that a state Supreme Court had ruled on the concern of chain of title. A spokeswoman for California Atty. Gen. Kamala D. Harris stated such lawsuits may be brought in the Golden State, exactly where foreclosures remain largely outside the court method.

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The banks inability to prove that they personal shoppers mortgages is only one particular of the a lot of issues. An additional large-scale crisis is forthcoming: increased interest prices on customers adjustable-price mortgages.

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There is a large quantity of adjustable-rate mortgages scheduled to reset to larger rates in coming months which is most likely to lead to an improve in foreclosures in California. This is particularly true since numerous borrowers will not be capable to afford higher payments provided the unfortunate combination of the states higher unemployment rate and stagnant economy, mentioned Vito Torchia, Jr. As evidenced by Bank of Americas current sharp boost in foreclosures, the crisis is more than likely going to get worse for property owners in 2011, not much better, and may possibly even surpass the peak amount of foreclosures by the banks in 2009.

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According to Vito Torchia, Jr., this means thousands of customers will face potentially wrongful foreclosure and, due to loan modification delivers, a lot of will truly locate themselves additional behind on their payments and could eventually be foreclosed upon.

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The Massachusetts case is the first of a lot of choices we anticipate to see in 2011 that will shield homeowners from predatory lending practices and the sloppy mortgage administration practices which have turn out to be standard in the lending sector, mentioned Vito Torchia, Jr. Despite the fact that many banks delayed and even halted foreclosures in 2010, they are poised to return to procedure foreclosures aggressively in California and all through the Country, and it is vitally critical that home owners are conscious of the require for professional legal help and how it can have a optimistic result in their situations. 2011 will see a main boost in litigation against the banks.

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Brookstone Law, Computer will be filing a number of suits and has contracted to aggregate members for other suits against major banks and mortgage lenders such as:&#13

Record Number of Foreclosures Scheduled for Sale

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Discovery Bay, CA (PRWEB) August 13, 2009

ForeclosureRadar (http://www.foreclosureradar.com)], the only website that tracks every California foreclosure and offers daily auction updates, issued its month-to-month California Foreclosure Report for July 2009. When once more, foreclosure stats have been mixed, with Notice of Default filings flat, Notice of Trustee Sale filings rising by 31.six percent and foreclosure sales dropping 22.7 percent. The quantity of properties scheduled for foreclosure sale – new Notices of Trustee Sale minus these sales that have cancelled or sold – rose to a record level of 124,874, practically double the levels reached for the duration of the foreclosure peak last year.

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High-level findings for July 2009 consist of:&#13

Filings of new Notices of Default had been small changed from June at 44,996 filings, a 1.five percent decrease. Year-over-year filings rose by 11.9 percent from July 2008.&#13
Notice of Trustee Sale filings bounced back right after dropping in June to 39,294 a 31.six % enhance over the prior month, and a .7 percent boost over the prior year. The California Foreclosure Prevention Act, which adds 90 days prior to the filing of the Notice of Trustee Sale for lenders that do not have a comprehensive loan modification strategy in place, had only a fleeting effect last month with Notice of Trustee Sale filings hitting their second highest level on record in July, just two weeks after the law took influence.&#13
Right after growing for three consecutive months, foreclosure auction sales dropped by 22.7 percent to a total of 17,239, with a combined loan value of $ 8.08 Billion dollars. Year-over-year sales dropped a substantial 40.1 %, with July 2008 obtaining the highest level of foreclosure sales on record at 28,795. Opening bids set by lenders were an average of 39.1 % lower than the loan balance, with 45. percent of sales discounted by 50. percent or a lot more.&#13
Sales to third celebration bidders have been flat from June, with two,683 foreclosures sold to investors, or in increasingly rare instances, junior lenders. As a percentage of total sales, sales to third parties continued to enhance although lenders nonetheless took back 84.four % of foreclosures at auction, representing 14,555 loans, with a total of $ 6.93 Billion dollars in loan value. &#13
Foreclosures scheduled for sale rose to 124,874, a 10.four % increase from the prior month, and a 93.3 percent improve year-over-year from July 2008. The year-more than-year improve is important offered that foreclosure sales in July 2008 set a record that has not once more been reached. The increase seems to be mainly due to the reality that lenders are willingly postponing foreclosure sales.&#13
The new “House Affordable” loan modification plans now include a 3-month trial. It is our understanding that foreclosures are not cancelled until the completion of this trial period. As such, we believe monitoring the cancellation of scheduled foreclosures must provide some insight into the effectiveness of this system, as effective trials ought to outcome in cancelled foreclosures. We had a record quantity of cancellations in July at 10,789, a 24.eight percent increase over the prior month and an 86.3 percent boost year-over-year. It must be noted, nevertheless, that as a percentage of the foreclosures actively scheduled for sale, there was small alter from prior months. It appears that the considerable enhance is primarily due to the high number of foreclosures that are scheduled for sale, but postponing rather than promoting.

“Regardless of the failure of the California Foreclosure Prevention Act to slow Notice of Trustee Sale filings it is clear that lenders and servicers are delaying foreclosure” says Sean O’Toole, founder and CEO of ForeclosureRadar. “A lot more home owners are now sitting at the brink of foreclosure, just days away from the next scheduled auction date, then ever ahead of, however we simply aren’t seeing the wave of foreclosures a lot of predicted.”

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Political pressure, financial incentives and the postponement of sales awaiting the completion of loan modification trial periods are most likely reasons for the delays. The vast majority of foreclosures, 72 %, are postponing either due to lenders request, or mutual agreement between the lender and borrower. Only ten % are getting postponed due to bankruptcy. With couple of exceptions the remainder have not however been postponed and are scheduled for their first sale date.

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The average California foreclosure has a total loan balance of $ 425,134 on a home that is now worth $ 236,739. While adverse equity is a prerequisite for the vast majority of foreclosures in California, the degree of unfavorable equity varies a excellent deal by location. Foreclosures in Santa Cruz County had loan balances just 110 percent of the present estimated value, while Foreclosures in Merced County had loan balances an average 283 % greater than the estimated worth. The Bay Region counties of Santa Cruz, San Francisco, Marin, San Mateo have been amongst the least underwater. Inland counties such as Merced, San Joaquin, Stanislaus, Solono, Sacramento, San Bernardino, and Riverside have been amongst the most underwater.

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Sign up to get the California Foreclosure Report

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CALIFORNIA FORECLOSURE REPORT METHODOLOGY&#13

Rankings are primarily based on population per foreclosure sale. NOD indicates the quantity of Notices of Default that were filed at the county, and NTS indicates filed Notices of Trustee Sale. Sales indicates the quantity of properties sold at foreclosure auction. Percentage changes are based on monthly Sales. The information presented by ForeclosureRadar is primarily based on county records and person sales results from everyday foreclosure auctions all through the state – not estimates or projections.

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ABOUT FORECLOSURERADAR.COM&#13

ForeclosureRadar is the only internet site that tracks every foreclosure in California with everyday updates on all foreclosure auctions. ForeclosureRadar features unprecedented tools to search, manage, track and analyze preforeclosure, foreclosure auction, quick sale and bank owned genuine estate. The web web site was launched in Could 2007 by Sean O’Toole, who spent 15 years developing and launching software firms prior to getting into the foreclosure business in 2002 where he successfully purchased and sold more than 150 foreclosure properties. ForeclosureRadar is an indispensable resource for true estate agents, brokers, investors, lenders, mortgage brokers, attorneys and other real estate professionals specializing in the California true estate market place.

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Brief Sale Specialists in Los Angeles Housing Assist of America Continues to Support Stop Foreclosures for Owners of Distressed Properties

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Los Angeles, CA (PRWEB) August 20, 2009

Housing Assist of America, America’s #1 Brief Sale Specialist announced a 75% achievement price for helping distressed home owners for the duration of the nations housing crisis. With a lot more than 336,173 foreclosure filings reported in the month of June, 2009 and 1,905,723 foreclosure filings, default notices, auction sales notices and bank repossessions we reported on 1,528,364 U.S. properties in the course of the initial six months of the 2009 year. These numbers represent a 15% increase in total property filings for 2009 and the fourth straight month of 300,000 filings.

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“The numbers say that this is a vital time not only for the housing market, but much more so for the property owner,” said Housing Assist of America President, Aram Afshar. “We speak and meet with hundreds of individuals a month who are on the verge of losing their property and not becoming capable to purchase an additional one for ten years because of foreclosure. For a lot of of them, this was the biggest and most emotional acquire they have ever produced in their lives, and you can feel and hear the pain that comes with their circumstance and we truly want to support.”

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Those who have filed for foreclosure realize that it will negatively have an effect on their credit score and their capability to purchase a residence in the coming years. For the hundreds of thousands who have filed for foreclosure or who are on the verge of foreclosure, many of them did not or never know that there is yet another alternative short sales!

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Although foreclosure is a way out of a undesirable loan, there are lengthy term consequences to this choice. On the other side of foreclosure, there is the option of a Short Sale. Brief Sales place an instant cease to foreclosure and only impacts your credit rating minimally staying on your credit report for two years and lowers your credit score by 80 – 120 points.

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Brief Sales are a way to save much more than your credit score, a poor loan and the possibility of acquiring a new house in two years. It reduces tension and gives you a little of your piece of mind back.

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Take a moment to visit the Housing Assist of America website to see how you can advantage from their free of charge Brief Sale, Loan Modification, Refinancing, VA solutions and much more.

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About Housing Assist of America:&#13

With more than 30 years experience in Genuine Estate, Housing Help of America proudly solutions thousands of homeowners who are struggling with their mortgage payments. The organization was formed in an effort to give property owners with the honest service that they deserve in these rough occasions. Housing Help helps homeowners map out the next many years for them, in showing how particular decisions will lead them to a brighter future and we will negotiate a resolution that is hugely advantageous for all parties involved. Their intense concentrate on each certain homeowner is why they are the nation’s leading short sale and loss mitigation specialist in actual estate. For much more details, please check out http://www.HousingAssist.com.

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Much more Loan Modification Services Press Releases

Real Estate Leaders Unite to Decrease Foreclosures

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Denver, CO (Vocus) October 21, 2009

RE/MAX International of Denver, Colorado and HEART Monetary Services of Northbrook, Illinois have agreed to perform with each other to assist property owners stay away from foreclosure. The real estate franchisor and loan modification leaders have developed a unique pre-foreclosure or “Short Sale” strategy that will make it less complicated for households to sell their residences and avoid the trauma of a foreclosure.

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“It’s unfortunate that the Quick Sale method has been so difficult to navigate in this marketplace,” says Dave Liniger, Chairman and Co-Founder of RE/MAX International. “We’ve been operating difficult to promote streamlined Short Sales to offer each important rewards to lenders, and a welcomed chance for property owners to get a fresh begin.”

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At-danger homeowners who do not qualify for a loan modification will now have a viable alternative, and will not be forced into foreclosure. Lenders that supply loan modifications to their at-danger borrowers will be invited to participate in this new Brief Sale program.

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Educated customer service representatives will provide detailed Short Sale data to all property owners who can not get a loan modification or do not want to retain their house. If a homeowner believes that a Short Sale may be acceptable, they are directed to a safe Web site exactly where they can obtain more data, and choose a genuine estate agent in their neighborhood who has received comprehensive coaching on the Quick Sale process. RE/MAX has created this exclusive on the internet database to assist homeowners with Brief Sale data and straightforward agent referrals.

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“It really is been our encounter that many homeowners are not even conscious that Short Sales are a reasonable alternative to foreclosure,” says Jerry Alt, President and Chief Executive Officer of HEART Economic Solutions. “Every month we speak with thousands of homeowners who can not qualify for or don’t want a loan modification. For the most component, when we refer them back to the servicer for a potential Short Sale, we shed the chance to assist the borrower whilst we have them on the phone. Now, we can supply these homeowners some hope and a a lot more effective process to list and sell their property.”

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The number of homeowners who could rely upon a Quick Sale might be in the millions. According to realtytrac.com, July, August and September had the highest foreclosure numbers on record and some analysts say there is a “shadow” inventory of foreclosed properties as higher as 7 million, which could commence hitting the industry in a handful of months. Out of all the applications reviewed for a loan modification, much less than 50% are effective. And a high percentage of productive loan modifications at some point re-default.

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“We have been speaking to quite a few market leaders, legislators and Administration officials attempting to draw consideration to the Brief Sale scenario,” says Liniger. “It’s just not achievable for the housing market to recover fully till the inventory of foreclosed properties is considerably reduced, and Quick Sales delivers one particular practical way to help do this.”

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There are over 11,000 true estate agents in the United States who have received the Certified Distressed House Expert (CDPE) professional designation. Over 60% of these are affiliated with RE/MAX. In addition, the National Association of REALTORS

Florida’s Affordable Loan Modification Business Keeplivinginyourhome.com Comments On Rise In Foreclosures

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Boca Raton, FL (PRWEB) December 21, 2009

With the existing unemployment price in the U.S. rising to almost 10%, the foreclosure crisis has impacted practically 938,000 properties amongst July to September, compared with 890,000 in the earlier quarter, and a 23% increase from the third quarter of 2008. According to RealtyTrac, if this trend continues, foreclosures may hit about 3.five million this year, compared to two.three million homes last year.

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With foreclosure prices rising, it is critical for property owners to be educated about how they can avoid foreclosures. Although the Federal Governments $ 75 billion loan modification system has accomplished its objective of starting trial loan modifications for 500,000 financially-troubled home owners, a huge quantity of property owners are still at threat, said Farid Dallal, owner and CEO of Keeplivinginyourhome.com Loan Modifications.

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According to Mr. Dallal, although numerous lenders consider troubled homeowners for a mortgage modification to steer clear of foreclosure, a lot more borrowers could face foreclosures as their moratoriums end. I think that home owners must be given the opportunity and support needed to preserve their properties. The loan modification procedure can be quite confusing for home owners. The reality is there are no genuine set parameters that qualify a homeowner for a modification, mentioned Mr. Dallal.

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He also added that most banks are at the moment taking amongst six months to a year to make a decision on a mortgage application. Quite often, soon after waiting for so lengthy, the loan modification is denied and the homeowner has to eventually face foreclosure. Purchasers who apply for loan modifications need to 1st realize what the approach entails. Loan modifications can affect your credit rating by a 50-one hundred points. If your economic situation is only temporary, it may not be the very best alternative considering that it would be tough to rebuild your credit.

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To avert a foreclosure, Mr. Dallal advises borrowers to get in touch with their lender to go over foreclosure prevention alternatives as quickly as they comprehend they have a issue generating payments the longer they wait, the fewer options they may have. They must also be wary of foreclosure recovery scams and educate themselves about their mortgage rights and foreclosure laws and time-frames in their state.

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At Hold Living In Your Home, we think the greatest way to keep in your home with an cost-effective payment is to assess the existing circumstance and decide what methods are required to qualify for a refinance. A refinance has set parameters that have to be met in order to qualify, which helps our loan officers determine what needs to be carried out to make the refinance a reality, Mr. Dallal commented.

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For more info, contact 1-877-500-3001 or check out http://www.keeplivinginyourhome.com/loanmodification/loan-modifications/checkeligibility.asp

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About Keep Living In Your Property, Inc.

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Maintain Living In Your Residence is a cost effective loan modification company, that offers loan procedure, refinance, property obtain, debt consolidation, and house equity loan solutions. The company gives consumers with the knowledge they need to make the appropriate decisions to move forward with the loan approach. With its very knowledgeable and skilled mortgage consultants and processing division, Keeplivinginyourhome.com Solutions offers consumers the greatest loans to fit their wants. As an business leader, the company takes pride in its vast knowledge of the mortgage industry and the items it delivers to borrowers. For much more details, pay a visit to http://www.keeplivinginyourhome.com/loanmodification/loan-modifications/states.asp?id=32

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Keeplivinginyourhome.com is now focusing its loan modification services on the comply with states. Alabama Loan Modification, American Samoa Loan Modification, Arizona Loan Modification, California Loan Modification, Colorado Loan Modification, Connecticut Loan Modification, District of Columbia Loan Modification, Federated States of Micronesia Loan Modification, Florida Loan Modification, Guam Loan Modification, Hawaii Loan Modification, Idaho Loan Modification, Indiana Loan Modification, Iowa Loan Modification, Kansas Loan Modification, Extended Island Loan Modification, Louisiana Loan Modification, Maine Loan Modification, Massachusetts Loan Modification, Michigan Loan Modification, Minnesota Loan Modification, Missouri Loan Modification, Montana Loan Modification, Nebraska Loan Modification, Nevada Loan Modification, New Hampshire Loan Modification, New Jersey Loan Modification, New Mexico Loan Modification, New York Loan Modification, North Carolina Loan Modification, North Dakota Loan Modification, Oklahoma Loan Modification, Oregon Loan Modification, Puerto Rico Loan Modification, Rhode Island Loan Modification, South Carolina Loan Modification, Tennessee Loan Modification, Texas Loan Modification, Utah Loan Modification, Virgin Islands Loan Modification, Virgina Loan Modification and Washington Loan Modification.

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Connected Loan Modification Services Press Releases