Tag Archives: Lenders

Atlanta Bankruptcy Attorney Counters Foreclosure Sneak Attacks by Lenders

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Atlanta, GA (Vocus/PRWEB) December 13, 2010

Atlanta bankruptcy attorneys at the Sandberg Law Firm are fighting an underhanded method utilized by mortgage lenders to foreclose on home owners even though going by way of the seemingly helpful method of creating a loan modification plan for a borrower. This procedure is known as Double Tracking by the lenders. Double Tracking sets up a virtual Pearl Harbor Like sneak attack on a borrower, since whilst the supposed loan modification is underway the lenders attorneys are swiftly moving forward with the foreclosure process. There is a huge upside for banks because it is significantly much less expensive for a lender to foreclose on a homeowner than to modify an existing property mortgage.

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The Sandberg Law Firm has established their personal distinctive version of Double Tracking however, Sandberg Laws Double Tracking is created to counter lender foreclosure sneak attacks on borrowers. This method puts the clientele interests as a priority and keeps the lenders foreclosure plans at bay. By utilizing Chapter 13 Bankruptcy the Sandberg Law Firm can use the power of the law to quit a lenders foreclosure plans dead in their tracks.

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Typically known as the middle class bailout, Chapter 13 Bankruptcy can also support to wipe out credit card and health-related debts and reduce or remove automobile payments. The use of Chapter 13 Bankruptcy can not only quit foreclosure, but support home owners reduce debts such as second mortgages. Sandberg Law Firm can quit any type of foreclosure that a lender could use to try to take possession of a persons house. The firm aids homeowners deal with lenders by highlighting the truth that they cannot be turned down for a mortgage modification since they are filing for Georgia Chapter 13 Bankruptcy protection.

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To educate its consumers about how to deal with these issues, the Sandberg Law Firm has created a series of totally free Bankruptcy seminars that cover locations such as debt relief, foreclosure and bankruptcy. The seminar series also covers specific topics of interest including Chapter 13 Bankruptcy workouts, the property foreclosure approach, loan modifications and short sales. The Firm also includes other helpful data such as how to deal with: the Internal Revenue Service, mortgage lenders, credit card firms and the Georgia State Tax Commission. They also deal with how to deal with repossession of private property, youngster assistance, court appearances and the bankruptcy method.

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Tony Sandberg commented on the Firm’s distinctive Double Tracking method to dealing with mortgage lenders. “We created this process to cease lenders from foreclosing on property owners even though they have been telling them that they were working on a loan modification. This sneak attack tactic is deceptive and needs to be stopped. We want to aid home owners keep in their house. We have an incredibly skilled legal group to aid our clientele by way of the Chapter 13 Bankruptcy process and our cost-free seminars can also assist them get the Georgia Bankruptcy data they want to make very good choices about their existing monetary situation.

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The Sandberg Law Firm has a staff of Atlanta bankruptcy lawyers that is one particular of the largest in the State of Georgia. The firm has a quantity of offices located conveniently around the Atlanta metro area and across the state. The satellite offices are situated in Cartersville, GA, Conyers, GA, Douglasville, GA, Duluth, GA, Fayetteville, GA, Gainesville, GA, Newnan, GA, Rome, GA and Stockbridge, GA. The Firm’s strategically positioned offices make it simple for consumers in want of a Georgia Bankruptcy Lawyer to pay a visit to an workplace and speak with an professional lawyer in individual. The Sandberg Law Firm’s principal workplace is at 229 Peachtree St, International Tower Suite 705, Atlanta, GA 30303, telephone 404-827-9799. The Sandberg Law Firm has selected Atlanta Search engine optimisation Business, Interactive Search Marketing and advertising, to provide its Search Engine Optimization and site development services.

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Lenders Reluctant To Modify Loans for a Lengthy Period

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Woodland Hills, CA (PRWEB) January 13, 2011

Lenders generally are reluctant to modify a industrial actual estate loan for far more than 12-18 months, stated Kevin Levine, Executive Vice President of Strategic Asset Solutions (SAS) of Woodland Hills, California. In some situations, they will agree to consider an extension of the loan modification topic to assessment and at the lenders sole discretion, Levine mentioned.

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Levine explained that there are a number of modification options available with regard to a difficulty industrial genuine estate loan. The simplest loan modification is for the lender to lessen the interest rate, thereby limiting the month-to-month payment, he stated. One more resolution is to provide for interest-only payments for a time, then improve the monthly principal payments soon after the modification period ends or add the deferred principal to a balloon payment. The lender also can extend the loan term. And in a couple of instances, the parties could even negotiate a principal reduction. Levine explained that the numerous loan modification alternatives are not mutually exclusive, and might be combined. For example, the lender could agree to lessen the interest rate, let interest-only payments, and extend the terms of the loan, all as provisions of one loan modification, Levine explained.

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The benefit of any loan modification to the borrower is that it buys time for the economy and the real estate market to turn about and recover and, in the case of an owner-occupant, for the purchasers underlying company to be restored to profitability, Levine continued. Nevertheless, if the financial and genuine estate marketplace fundamentals do not significantly improve for the duration of the modification period, the borrower may locate it is back in the exact same untenable circumstance when the modification expires, he stated.

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Levine reported that he is seeing many circumstances in which a loan modification was granted to an investor-borrower in hopes that the propertys rent roll would stabilize. But all also usually, the borrower finds that even at full occupancy, gross rental revenue has been reduced due to the common decline in market prices. Of course, this depends upon the quality of constructing, particular marketplace, and other relevant elements, Levine mentioned. The only continuous is that every situation is various, he commented.

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The barriers usually present to achieving the borrowers objectives by means of a loan modification are a principal purpose we will attempt to negotiate a brief sale of the home to a third celebration, Levine said. And a third decision, in suitable scenarios, is to attempt to have a third party buy the note from the lender. Every of these approaches has various legal, economic and tax consequences for the borrower based upon his or her specific circumstances.

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SAS provides commercial loan modification and short sale solutions in California and throughout the nation. The companys personnel bring extensive commercial real estate knowledge to each and every assignment, like market place analysis, valuation, legal, and negotiation expertise. Each and every borrowers exclusive lending situation is fully analyzed, and the borrower is assisted in preparing existing operating reports and projections. Then SAS drafts and submits to the lender a loan modification proposal. That proposal might incorporate a principal reduction, interest price reduction, and waiver of penalty charges. In those situations exactly where a loan modification will not operate to the mutual advantage of the borrower and lender, SAS will try to broker a short sale of the commercial true estate at a important discount from the loan balance, or will seek to negotiate a sale of the note to a third-party.

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SAS is a member of the Peak Corporate Network headquartered in Woodland Hills, California. In addition to commercial loan modifications, the Peak Corporate Network delivers mortgage lending, loan servicing, residential brief sale, 1031 exchange, trustee function, foreclosure services, and true estate sale brokerage solutions. These solutions are accessible mostly throughout the Western United States for each residential and industrial actual estate properties and loans.

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Contact Particular person: Kevin M. Levine, Executive Vice President&#13

Company: Strategic Asset Options&#13

Address: 5900 Canoga Avenue, Ste. 200, Woodland Hills, CA 91367&#13

Phone: (818) 866-9191&#13

Fax: (818) 206-3185&#13

Website: http://www.strategicworkouts.com

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Objective and Thorough Property Valuation Evaluation Is Crucial To Successfully Negotiating With Commercial Mortgage Lenders According to Kevin M. Levine

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Woodland Hills, CA (PRWEB) March 21, 2011

An objective and thorough house valuation evaluation is the important to a profitable negotiation with industrial real estate mortgage lenders, stated Kevin Levine, Executive Vice President of Strategic Asset Solutions/Peak Asset Options of Woodland Hills, California. Several distressed loan borrowers think that they can submit just any proposal to modify the loan or conduct a quick sale of the house, Levine stated. And numerous potential actual estate investors submit delivers to obtain mortgaged properties or buy mortgage loan notes from lenders at really low prices. Sometimes those proposals are successful but generally they are summarily rejected by the lender.

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Levine explained that borrowers or potential purchasers usually submit a very low figure proposal, believing that will smoke out the lender and stimulate a counter provide. That response doesnt happen extremely often, he said. A lender usually avoids, in impact, bidding against itself. Levine explained that the lender need to be convinced the proposed loan modification, brief sale or note purchase will make an end result at least equal to what the lender will comprehend upon foreclosure. This can only be carried out by supplying the lender with a quite thorough house valuation evaluation, Levine stated.

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We devote considerable time and work gathering existing industry information and operating data about the house. If there are tenants, we analyze their rental rates in comparison with industry prices, he stated. Important elements relating to tenants are the remaining terms of their leases, the likelihood of renewal, and their anticipated rental renewal prices which may effectively fall below the existing prices. So even if the occupancy is fairly higher now and the property is producing sufficient earnings to service the debt, taxes and maintenance, that may possibly not be the case in a few months.

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Levine commented that properties occupied by the borrowers operating organization need an examination of the company economic functionality. The home owners enterprise could be declining swiftly in this economy, Levine added. In such a non-arms length situation, the enterprise will not be in a position to pay the contracted rent. An option and realistic rental price most likely will be drastically lower, diminishing the value of the house.

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Levine stated that lenders usually welcome and appreciate receiving an objective and thorough valuation analysis. They typically then will have the house reappraised but the valuation evaluation we give them creates a benchmark and provides a basis for contesting the reappraised value if that becomes needed.

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Strategic Asset Solutions/Peak Asset Solutions delivers commercial loan modification and brief sale services in California and all through the country. The companys personnel bring in depth industrial real estate experience to every single assignment, such as market analysis, valuation, legal, and negotiation encounter. Each borrowers unique lending situation is completely analyzed, and the borrower is assisted in preparing current operating reports and projections. Then Strategic Asset Solutions/Peak Asset Solutions drafts and submits to the lender a loan modification proposal. That proposal could contain a principal reduction, interest price reduction, and waiver of penalty charges. In those situations exactly where a loan modification will not function to the mutual advantage of the borrower and lender, Strategic Asset Solutions/Peak Asset Options will try to broker a quick sale of the commercial actual estate at a significant discount from the loan balance, or will seek to negotiate a sale of the note to a third-party.

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Strategic Asset Options/Peak Asset Options is a member of the Peak Corporate Network headquartered in Woodland Hills, California. In addition to industrial loan modifications, the Peak Corporate Network provides mortgage lending, loan servicing, residential quick sale, 1031 exchange, trustee operate, foreclosure solutions, and true estate sale brokerage solutions. These solutions are available mostly all through the Western United States for each residential and industrial real estate properties and loans.

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Kramer and Kaslow: Lenders Call for Homeowners to Waive Rights to Sue for Errors

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Calabasas, CA (PRWEB) June 06, 2011

The internet site http://www.propublica.org (http://www.propublica.org/write-up/in-fine-print-banks-demand-struggling-homeowners-to-waive-rights) is reporting that a lot of lenders are requiring homeowners to waive all their rights to sue for errors if they want to seek a loan modification or other type of assistance.

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“I am troubled, but not shocked, that this is still occurring,” Rep. Maxine Waters, D-Calif., who has been pushing a bill to ban these waiver clauses since 2008, was quoted in the internet site report. “The mortgage servicing market has been broken for quite some time and demands substantial reforms.”

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As reported in Propublica.org, Neil Brazil, a spokesman for HSBC, stated the bank does not include any rights waiver in its regular modification agreements, but that attorneys pursuing foreclosure on its behalf may well consist of them when providing a homeowner a forbearance strategy. Brazil declined to say if HSBC included the clauses much more generally. He emphasized that HSBC had been operating with the borrower for over two years.

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Propublica also reports that Bank of America, the country’s largest servicer, included related language in agreements late final year not only in New York, but many other states.

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Philip Kramer, a perennial winner of the prestigious Southern California Super Lawyer award has stated that what the banks are performing is outrageous misconduct. Kramer, whose firm Kramer-Kaslow has launched multiple consolidated plaintive litigation lawsuits against lenders on behalf of property owners, argues that, The banks are feeling a lot of stress simply because of their wrongdoing and are attempting to steer clear of their day in court. A lot more of his observations can be found at http://kramer-kaslow.com/blog/2011/06/philip-kramer-banks-taking-benefit-of-home owners/

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior companion of the Law Workplace of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes industrial litigation and trial advocacy, with a concentration on organization litigation, and genuine house matters. He has prosecuted and defended circumstances for more than twenty 5 years.

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Mr. Kramer is a licensed true estate broker and has spent considerable time providing legal solutions in connection with real estate issues relating to loan modification and loss mitigation, land use and zoning, environmental problems, easements, building and development, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 circumstances. He has appeared on nationally televised applications relating to pre-trial process and trial method and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer regularly lectures on a broad spectrum of a variety of legal and organization troubles.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization devoted to bringing professionalism and civility back into the legal profession. He also serves on quite a few Boards of Directors and serves as an officer in a lot of firms. For much more details contact (818) 224-3900 or check out http://kramer-kaslow.com

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Brookstone Law Computer: Massachusetts Lawsuit Against Lenders Has Large Prospective

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Newport Beach, CA (PRWEB) December 06, 2011

Progress on legal challenges against the nation’s five most significant mortgage lenders are facing a main legal challenge in Massachusetts is a constructive sign for relief-looking for home owners foreclosed on in Massachusetts in the course of the housing crisis according to Vito Torchia, Jr., managing attorney of Brookstone Law.

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According to media coverage, in the first such lawsuit filed by a state, Massachusetts Atty. Gen. Martha Coakley claims that Bank of America Corp., Wells Fargo &amp Co., JPMorgan Chase &amp Co., Citigroup Inc. and GMAC Mortgage utilized fraudulent documentation in the foreclosure processes, took back properties with out showing they owned the actual mortgages, and failed to uphold loan modification promises to borrowers in the state.

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We applaud the Massachusetts attorney basic for lastly coming to the help of foreclosure victims and holding banks accountable for their systematic mismanagement, lack of due diligence and ongoing record of foreclosures without having following the rule of law,” stated Vito Torchia, Jr.

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According to media coverage, the Massachusetts action represents a new challenge against the mortgage sector by increasing stress on banks to strike a deal with a coalition of Attorneys Basic in search of relief for shoppers allegedly wronged by faulty mortgage servicing practices. The suit could also serve as a blueprint for other individual states to file actions.

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This case could have considerable repercussions throughout the nation and especially in California, exactly where our Attorney Basic has just begun to concentrate on the harm banks have done to homeowners in our state, stated Vito Torchia, Jr.

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According to media coverage, negotiations for a deal of up to $ 25 billion between the banks, attorneys basic and federal agencies was expected to have been reached by now but talks have dragged on for much more than a year.

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“This is a vitally important legal development that will most likely give State Attorneys General who want to go right after the banks a blue-print of how to do it,” stated Vito Torchia, Jr. “But without suitable and professional legal counsel, property owners will likely not be able to obtain the leverage in their negotiations they need to have to hold the banks accountable for their unlawful conduct.

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In addition to criticism from customer groups and homeowners nationwide, media coverage consists of reports that New York, Delaware, Nevada, Massachusetts, Kentucky and Minnesota all signaled that they have been unhappy with the path of the talks with the banks, following issues that the banks have been getting let off too easily.

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While several home owners are becoming unfairly foreclosed upon, the banks are negotiating a settlement that favors them and hurts shoppers, and they cant even do that appropriate. This is an appalling circumstance that ignores shoppers all through California and the nation who require support now, said Vito Torchia,Jr. Now far more than ever is the time for property owners to have powerful legal counsel to take benefit of these developments and at the very same time safeguard property owners rights.

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According to media coverage, California Atty. Gen. Kamala Harris formally walked away from the negotiations soon after meeting with bank representatives in Washington, concluding that what they have been offering was not excellent enough for residents of the state. Given that then, proposals to attempt to entice her back to the table have been floated, as California is noticed as crucial to forging a powerful settlement. Harris has subpoenaed info from Fannie Mae and Freddie Mac as part of an inquiry into lending and foreclosure practices in the state. Her workplace lately subpoenaed Bank of America and its mortgage arm Countrywide Financial, along with Citi, searching for information on their practices selling mortgaged-backed securities in California.

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“Rather of the controversial answer getting created by the banks and the federal government, this lawsuit and the improvement of actions by so a lot of State Attorneys Generals show that a 50-state settlement is not preferable to the states and most surely not to consumers, mentioned Vito Torchia, Jr. Soon after the harm they have brought on, and continue to trigger, banks do not deserve to have these concerns solved by way of a enormous and unfair federally-mandated settlement.”

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ABOUT BROOKSTONE LAW, Pc &#13

Headquartered in Newport Beach, Calif., and with offices in Los Angeles, Calif., and Ft. Lauderdale, Fla., Brookstone Law, Computer is a law firm comprised of attorneys with encounter and accomplishment in business, corporate and individual finance, employment, entertainment and media, art and museum, intellectual house and real estate law. The firm has a network of much more than 40 affiliate attorneys nationwide and employs highly trained specialists, paralegals, paraprofessionals and administrative employees dedicated to serving consumers. For info, get in touch with (800) 946-8655 or check out Brookstone Law.com(http://www.brookstonelaw.com).

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Lance Denha Helps Clarify the Summary of $25 Billion Legal Settlement with Lenders

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(PRWEB) March 22, 2012

As reported by REUTERS earlier this month, a $ 25 billion legal settlement between 5 banks had been reached stemming from improper foreclosures, mortgage modification misconduct and other abuses against US home owners by mortgage servicers. While the $ 25 billion dollar settlement is an important step towards addressing the existing residential actual estate industry and ongoing mortgage crisis as this settlement efficiently punishes the banks for alleged abuses in the foreclosure procedure. Most authorities nonetheless, are of the opinion that a lot more is essential and is not almost what is required or deserved to homeowners at this time. We think any euphoria more than the deal will rapidly fade as investors realize the flood of added mortgage-connected litigation that the main banks face, mentioned Guggenheim Partners analyst Jaret Seiberg.

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It should be noted that the banks involved have up to three years to meet the provisions of this settlement though there are incentives for banks to help home owners in the first 12 months. In addition there is an unknown as numerous of the five significant banks involved have Securitized their mortgages (i.e sold the money flow from their mortgages) in the loans intended from this deal to have principal balances decreased. The principal reduction assists stabilize the industry a small bit, but not substantially, mentioned Brian Gardner, an analyst at Keefe, Bruyette &amp Woods Inc. The month-to-month savings for those involved will be modest. Furthermore, it seems that any sort of principal create down would have to include some cooperation with the investors that truly personal the mortgage.

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This settlement does not supply a blanket of immunity to the banks and lenders. This settlement is an additional step towards vindication for home owners. All of the Attorney Generals involved for fighting on behalf of the home owners in an work to preserve the rights of struggling home owners although continuing to pursue the lenders for their internal misdeeds must be applauded. Even though the fight is ongoing, there is self-confidence that with the appropriate legal minds addressing home owners issues and holding all mortgage servicers accountable on a everyday basis, even much more effective final results will take place on behalf of struggling home owners.

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The Law Workplace of Lance Denha PA., is committed to insure that every single achievable avenue is pursed in seeing that the homeowners legal rights are preserved. For additional data or help, please get in touch with at 954-840-0770.

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HUD Grant Makes it possible for Chicagos John Marshall Law School to Continue Its Work on Educating Home owners and Lenders on Predatory Property Lending and Property Preservation

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(PRWEB) June 27, 2012

A $ 97,133 grant from the U.S. Division of Housing and Urban Improvement is enabling The John Marshall Law College in Chicago to continue its Fair Lending/Property Preservation Project that trains students, attorneys and lenders on the rights of homeowners beneath the Fair Housing Act. The funding is extending the project for a 10th year.

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A system education John Marshall Law School students about predatory lending will be able to continue into its 10th year thanks to extended funding from the U.S. Department of Housing and Urban Development (HUD).

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The plan created and managed by The John Marshall Law College Fair Housing Legal Assistance Center works with law students and regional housing assistance organizations to give data that might help home owners avoid the pitfalls by way of the protection afforded them beneath the Fair Housing Act.

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The newest HUD grant of $ 97,133 was announced May 17, 2012, said Professor Michael Seng, co-director of the Center.

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It is unfortunate that the problems of predatory lending havent lessened, but by means of our program we are instruction students to be knowledgeable advocates for these who uncover themselves taken benefit of, Seng stated. Obtaining the continued assistance of HUD, as nicely as the City of Chicago and the Department of Community Improvement is producing a distinction for our students, and in turn those who want legal suggestions.

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Seng established a predatory lending system in 2003 in conjunction with Higher Southwest Neighborhood Development when its leaders saw an uptick of poor loans being written for Chicagos Southwest neighborhood housing. Numerous residents located themselves in default, and the development leaders asked Seng for assistance.

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From that 1st initiative, Seng created a Predatory Residence Lending Law class in 2003 for John Marshall students. Considering that then more than 225 students have taken the class to find out the legal ramifications of the predatory lending concern and operate on neighborhood outreach.

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The program continued to develop and today, as the Fair Lending/Property Preservation Project, it includes the classroom component and hands-on training for students so they can determine predatory lending issues. The students function to aid with loan modification applications, help counselors with reviewing modification packages, and inform homeowners of cost-free solutions accessible by means of counseling agencies. Students review home owners economic and house documents alongside housing counselors.

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The HUD grant is enabling John Marshall to:&#13

California HARP Mortgage Lenders Continue to Lead the Nation in HARP Loans as the Housing Market place Heats Up

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Los Angeles, California (PRWEB) June 06, 2013

Harp Mortgage Lender, a national lending network of mortgage pros approved to work with the Obama Administrations Residence Reasonably priced Refinance Plan (HARP), reports that current data from the Federal Housing Finance Agency (FHFA) sees California as the No. 1 user of HARP loans in the country via early 2013, a trend that has been occurring all through the programs four-year history, and 1 that continues to spell savings of over $ 4,300 a month on average for the HARP-eager borrowers of the Golden State, who have been steadily utilizing a lot more and much more loans as the housing market continues to heat up.

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In the FHFAs Refinance Report published May 7, California HARP borrowers utilized 14,204 HARP loans for the most current month on record, February of 2013. This was up 27 loans from Januarys total of 14,177, and up a whopping two,990 loans from 11,214 in the final month of 2012all signs that there is only rising demand for a system that had as many loans in 2012 nationwide (1.1 million) as it did in its initial three years prior to that combined. A reason for this boost is undoubtedly the revisions to HARP in late 2011 that produced the program much more accessible to deeply underwater borrowers, not to mention the recent housing rebound that is seeing median property sales values spiking in 2013 from San Diego up to San Francisco, giving underwater borrowers significantly much more of an incentive to hang on to residences which have grow to be increasingly useful assets.

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CLICK Here to verify HARP loan eligibility.

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In reality, the most current data from analytics company RealtyTrac sees the median sales value for properties in L.A. up 14.7 from a year ago, up 19 percent in San Diego, and up a California metro-major 30.four percent in Bakersfield from the previous year. What this data implies for underwater borrowers is that its a wonderful time to get locked into the low California HARP rates ahead of they rise alongside the prospering California housing market. It also indicates that Californians are beginning to see homes as a profitable investment again, which could clarify why RealtyTrac sees foreclosure filings down 59 % year-over-year.

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Combine these stats with the current prediction by Fannie Mae that California HARP refinancers are saving far more than $ four,300 a year on their mortgages, and its clear why tens of thousands of Californians are turning to the program every month. A single could argue that HARP loans are a lot more useful than ever just before to California borrowers trying to keep away from a foreclosure or brief sale, says Alameda, California Mortgage Professional Garrick Werdmuller at Very first Priority Economic. Positive, $ four,300 a year is a nice chunk of modify, but that quantity could really pale in comparison to the return borrowers who use HARP to stick with their mortgage could reap numerous years from now if the housing market place continues to gain worth at this price.

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CLICK Here to apply for a HARP loan

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About HARP

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The Property Affordable Refinance Plan was amended in October of 2011 via an agreement amongst the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac, which simplified the accessibility of the plan for borrowers searching to refinance by way of mortgage lenders.

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A main goal of the Home Reasonably priced Refinance Program (HARP) is to help accountable borrowers with the method of streamline refinancing. Eligible borrowers who are current with mortgage payments but have noticed their property lose worth are given the selection of HARP refinancing.

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HARP two. eligibility suggestions:

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1) Fannie Mae or Freddie Mac owns or has guaranteed very first loan.&#13

2) Fannie or Freddie purchased the loan prior to Might 31, 2009.&#13

three) Borrowers must be current with mortgage payments.&#13

4) Borrowers owe more than their house is worth, or there is minimal equity.&#13

five) All mortgage payments have been prompt in the previous six months.&#13

New Website Recently Launched by Mortgage Elements Inc Provides Solution for Mortgage Brokers and Wholesale Mortgage Lenders

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Bloomingdale, IL (PRWEB) May 15, 2013

Mortgage Elements Inc recently launched a new website for Mortgage Brokers and Wholesale Mortgage Lenders. The website: http://www.MortgageElements.com helps Mortgage Brokers quickly find Wholesale Lenders and locate information about their Wholesale Loan Programs from a mobile devise or desktop computer with a few taps on the screen or clicks of a mouse. This is made possible by a unique design that uses visual images and symbols instead of words and text to categorize different Mortgage Programs and amortizations.

The website was conceived to address a confusing problem facing Mortgage Brokers and the Wholesale Mortgage Industry. The Financial Crisis took its toll on the Mortgage Industry and many Mortgage Wholesalers left the channel. However, as one Wholesale Lender closed, a new Wholesale Lender would open, happy to fill the void. As Wholesale Lenders came and went and played musical chairs, Brokers were left in the middle, confused about which Lenders are open or closed and who is offering what programs in which states.

To address this perplexing issue, Mortgage Elements developed a unique design patterned after the Periodic Table that most people would recognize from their High School Chemistry class. With some modification, the Periodic Table was adapted to serve as the framework for categorizing and organizing different loans programs. The symbols were modified from representing chemical elements to representing different Mortgage Programs with various amortizations or Mortgage Elements.

The final result is something that the Mortgage Industry has never seen before A Periodic Table for the Mortgage Industry. Images have replaced text and brought the Visual Web to Mortgage Brokers and the Wholesale industry. Searches for Wholesale Lenders and Loan Programs can now be conducted on mobile devices or desktop computers accessing mortgage information with just a few taps on the screen or clicks of a mouse. The website leverages the popularity of mobile devices and was designed for ease of use on tablet computers and various screens sizes.

According to Mortgage Elements founder Mark Paoletti, a mortgage veteran with 28 years in the Mortgage Industry, This is just the initial phase of the website. We have several other ideas that will be implemented as we continue to build and expand the site. Right now our main focus is to generate awareness in the Wholesale Mortgage community.

Paoletti also went on to say the reaction from the industry has been overwhelmingly positive. So far, Brokers who have used our website have commented on how easy it is to use. A few have already told me it has saved a deal they would have lost.

The website at http://www.MortgageElements.com is free for use by Mortgage Brokers. Wholesale Lenders are also listed for free. Any Wholesale Mortgage Lender who would like to be listed on the site should contact Mark Paoletti by email or phone at the contact information below.

About Mortgage Elements Inc.

Mortgage Elements Inc. is an Internet Marketing company that provides database and search options for the Wholesale Mortgage Industry through its website MortgageElements.com. The Company uses a unique website design optimized for use on mobile devices and desktop computers. Mortgage Elements is not a lender but a B2B company for the Wholesale Mortgage Industry. Content on MortgageElements.com is intended for use by Mortgage Professionals only and not for use by the general public or an advertisement to extend credit as defined by Reg Z.

Contact Information

Mark Paoletti Founder / President

Mortgage Elements Inc.

630-529-3755

http://www.MortgageElements.com

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