Tag Archives: Loans

Newly Opened VJ Monetary Delivers Help with Credit, Loans and A lot more

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Manvel, TX (PRWEB) October 05, 2011

For several folks, like an amazing quantity of difficult-functioning Americans, the recession that ravaged the countrys economy has also meant private financial distress. These issues have left Americans asking yourself what they can do now. One brand new monetary firm is offering the answers to that essential question. VJ Economic, established this month by private finance guru Velvet Jones, is the need to-visit website on the web for folks searching to find out a lot more about loan modifications, refinancing mortgages and credit education.

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VJ Financial can be accessed now at http://www.vjfinancial.com. When there, individuals can read a lot more about all of the helpful programs and tools the firm offers to their consumers. The website is straightforward to use, so even these folks with limited World wide web expertise will feel comfy. And for these who have money saved up and are hunting to invest, VJ Monetary gives exclusive and profitable company possibilities.

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Numerous Americans may really feel its also late or theyve completed too a lot damage to their credit and individual finances. But at VJ Financial, a path to financial freedom isnt just a dream its a reality. With their expertise in issues like loan modification, refinancing mortgages and credit education, people can uncover stable ground in a shaky economy. Theres no explanation to wait any longer. Check out http://www.vjfinancial.com these days.

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More Loan Modification Press Releases

House Worth Declines Prompt Lenders To Renegotiate and Extend Balloon Payment Loans

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Woodland Hills, CA (PRWEB) December 11, 2010

Much more and a lot more industrial real estate lenders are faced with balloon payments coming due, stated Kevin Levine, Executive Vice President of Strategic Asset Solutions (SAS) of Woodland Hills, California. As a outcome, they are becoming forced to face the stark reality of either renegotiating and extending the loan, or foreclosing on an asset worth substantially much less than the loan balance.

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Levine pointed out that a growing quantity of industrial properties across the United States have suffered substantial worth declines. So a percentage of the industrial real estate loans secured by such properties are now beneath collateralized. Lenders normally prefer to have significant loan-to-value ratios, Levine mentioned. This means that their loan underwriting standards require that the there be a large property worth margin say 35-40% – in excess of the loan quantity secured by that property and based on the property type, it may even be greater. That way, when a balloon payment becomes due and is not met by the borrower, the lender can foreclose with self-assurance in its ultimate recovery of the loan balance. But now that those collateral margins have vanished in a lot of instances, the lenders face a dilemma. So it may possibly be a better choice for them to renegotiate and extend such loans, hoping for a rebound in property values that eventually will bail them out.

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Many regulated lenders, specifically banks and savings and loans, are possessing substantial capital difficulties in this atmosphere, Levine stated. So taking a huge loss on a under-value commercial real estate loan will additional effect their capital position in a damaging manner. By renegotiating and extending the loan, they may have to boost their reserve against that asset, but that typically will be less of a balance sheet hit than accepting a loss. Banks and other regulated lenders are particularly sensitive to those capital and reserve specifications at quarter ends and especially at year ends. So they are more open to negotiating with the borrowers as these events draw near. We attempt to take benefit of these timing possibilities when we are seeking to arrange a loan modification or other resolution for our borrower customers.

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SAS provides industrial loan modification and brief sale solutions in California and all through the country. The companys personnel bring comprehensive industrial genuine estate knowledge to each and every assignment, including marketplace analysis, valuation, legal, and negotiation knowledge. Every borrowers exclusive lending circumstance 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 could contain a principal reduction, interest price reduction, and waiver of penalty charges. In these situations where a loan modification will not function to the mutual benefit of the borrower and lender, SAS will attempt to broker a quick sale of the commercial real estate at a substantial 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 Network of businesses headquartered in Woodland Hills, California. In addition to commercial loan modifications, Peak Network firms offer mortgage lending, loan servicing, residential brief sale, 1031 exchange, trustee work, foreclosure solutions, and actual estate sale brokerage solutions. These services are accessible mainly throughout the Western United States for both residential and industrial actual estate properties and loans.

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Get in touch with Individual: Kevin M. Levine, Executive Vice President&#13

Business: Strategic Asset Options&#13

Address: 22837 Ventura Blvd., Ste. 105, Woodland Hills, CA 91364&#13

Telephone: (818) 866-9191&#13

Fax: (818) 206-3185&#13

Email: kevin(at)strategicworkouts(dot)com&#13

Website: http://www.strategicworkouts.com

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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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Genuine Estate Brief Sale to Increase in 2011 as Banks Attempt to Dispose of Defaulting Loans Without Foreclosing

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Fairfax, VA (PRWEB) January 18, 2011

According to international ratings agency Fitch Inc. and Managing Director Diane Pendley sector professionals are expecting to witness far more quick sales and fewer foreclosures in 2011, an encouraging sign for home owners in the D.C. Metro, northern Virginia and Maryland regions as nicely as those in search of options to foreclosure. A quick sale, or a sale in which a home is sold for significantly less than what is owed on the mortgage, can be an powerful option to foreclosure although enabling homeowners to escape the burden of bankruptcy. The Tania Ivey True Estate Group, which solutions Northern Virginia, Maryland and Washington, D.C., delivers a quantity of Certified Distressed House Authorities (CDPE) to advise consumers in the quick sale procedure. Residence sellers in particular places such as Fairfax County VA, or Loudoun County VA are seeing the number of Quick sales enhance. If you are a homeowner in Leesburg VA or Ashburn VA attempting to sell your home you are competing with several Brief Sales. Even locations such as Great Falls VA and Vienna VA are seeing a key portion of the market getting quick sold. The Tania Ivey Genuine Estate Group, closes far more short sales in a single month than most agents complete in their whole career, delivers additional support for home owners at http://www.Help34.com. Home owners are able to obtain a quantity of Free Reports regarding Short Sales and the influence they will have on the homeowner along with reports telling the truth concerning loan modifications and why they are so challenging, once again all this can be found for free of charge at http://www.Help34.Com &#13

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Avoiding foreclosure by way of a short sale can have significant rewards for a persons future financial stability, said Marc Cormier, a Genuine Estate Consultant and Certified Distressed Home Specialist, Divorce True Estate Specialist and Seniors Genuine Estate Specialist. A productive short sale can decrease the damage to ones future loan eligibility, credit rating, employment, safety clearance and moreand its important to function with a competent group.

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With millions of Americans struggling to make overwhelming mortgage payments, engaging a CDPE can aid a homeowner to much better navigate the quick sale procedure. CDPEs comprehensive specialized instruction in brief sales and foreclosure prevention and are effectively-versed on the value of writing an offer you than not only the sellerbut the bankwill accept.

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When youre pushed to foreclosure, its crucial to know your choices, mentioned Cormier, whose organization was up 48.three% in 2010. I close far more quick sales in a single month than most agents sell in their whole careerits my aim to put my customers back on the path to monetary stability and restore their hope for the future.

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For a lot more data on short sales or to connect with a CDPE, speak to Marc Cormier at The Tania Ivey Actual Estate Group at (703) 679 1754. For added sources, such as up-to-date data and reports, pay a visit to http://www.Help34.com and adhere to us on twitter mddcvahotprops.

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The Tania Ivey Real Estate group is powered by Keller Williams Realty. According to J.D. Energy and Associates, Keller Williams received the highest overall satisfaction ratings from homebuyers amongst the largest full-service actual estate firms in 2009 and again in 2010. The organization was also ranked the No. 1 Genuine Estate Franchise on the Annual Franchise 500 List created by Entrepreneur Magazine.

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About Keller Williams Realty, Inc.

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Founded in 1983, Keller Williams Realty Inc. is the third-biggest true estate franchise operation in the United States, with 681 offices and much more than 79,000 associates in the United States and Canada. The business, which began franchising in 1990, has an agent-centric culture that emphasizes access to top-edge education and promotes an financial model that rewards associates as stakeholders and partners. The business also gives specialized agents in luxury houses and commercial true estate properties.

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For more details, or to search for residences for sale check out http://www.help2ownahome.com.

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Quicken Loans Makes it Easier for New York Homeowners to Refinance with a CEMA Loan

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Detroit, MI (PRWEB) Might 27, 2011

Quicken Loans Inc., the 50-state lender of refinance and obtain mortgages, is providing New York property owners a a lot more cost-effective option when refinancing their residence.

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Typically, a refinance in New York indicates residents have to pay state mortgage tax on the complete new loan amount. Quicken Loans is providing customers the chance to get a Consolidation, Extension and Modification Agreement, or CEMA loan. This implies customers only have to pay taxes on the quantity of the new loan that is above and beyond their existing unpaid principal balance, such as closing fees or additional funds taken as cash out.

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While CEMA can help to reduce the amount of funds paid in New York state mortgage taxes, its crucial to note that these loans have added fees that could make them significantly less advantageous for certain customers when coupled with varying tax prices and attorney fees. Clientele must consult with their Residence Loan Expert to determine the most cost-successful path to a refinance.

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CEMA loans are only accessible on traditional, jumbo and FHA refinances.

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For far more information about CEMA loans and their positive aspects, pay a visit to http://www.quickenloans.com.

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About Quicken Loans Inc:&#13

Quicken Loans Inc. is the nations largest online retail mortgage lender and amongst the five biggest overall retail home lenders in the United States. The company closed a record $ 29 billion in retail home loan volume across all 50 states in 2010, and lately closed its 1 millionth loan. Quicken Loans employs around 3,700 group members and generates loan production from 5 web centers positioned in Michigan, Ohio and Arizona. The organization also operates a centralized loan processing facility in Michigan as well as its San Diego-primarily based One Reverse Mortgage unit. Quicken Loans ranked #1 in customer satisfaction amongst all residence mortgage lenders in the United States by J.D. Energy and Associates for 2010. QuickenLoans.com has been named Greatest of the Internet by Forbes and Cash magazines. The organization also has been named to FORTUNE magazines list of the countrys 100 Greatest Businesses To Function For eight consecutive years, ranking as high as #two, and named in the Top-15 of Computerworld magazines 100 Best Areas to Operate In Technology for six years in a row. Quicken Loans ranked #1 in the Detroit Totally free Press Leading Workplaces of 2010 List. The organization recently moved its headquarters and 1,700 of its three,700 full-time group members to downtown Detroit. For a lot more info about Quicken Loans, please check out http://www.quickenloans.com.

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About Rock Holdings Inc:&#13

Rock Holdings Inc. is the parent organization for numerous monetary services-related companies and employs more than four,000 team members. These client-focused and technologically driven companies incorporate Quicken Loans, the nations biggest on-line residence lender and One particular Reverse Mortgage unit, the fastest growing reverse mortgage lender in America Title Supply, a nationwide leader of title insurance and settlement solutions Quicken Loans Mortgage Solutions (QLMS), a mortgage origination platform servicing neighborhood banks and credit unions across the nation In-Home Realty, the preferred real estate partner of Quicken Loans that matches consumers with trusted true estate agents in all 50 states and, Quizzle.com, the on-line innovator and web site exactly where buyers manage their home, income and credit. Rock Holdings, Inc. also not too long ago moved its headquarters to downtown Detroit.

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More Loan Modification Services Press Releases

Karla Dennis Webinar: Karla Dennis Interviews Angelica Leon About Talk about the Loan Modification Method, New Applications Relating To Second Loans, And Debt Negotiation

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(PRWEB) June 05, 2012

This is an announcement of the latest month-to-month webinar to be provided by 1 of the nation’s foremost tax authorities, Karla Dennis.

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Join Karla as she interviews lawyer and true estate specialist Angelica Leon on the most frequently asked inquiries folks ask about actual estate and second mortgages.

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Click Right here To Listen To The Webinar

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The focus will be on second loans, debt negotiation and actual estate methods.

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Karla Dennis invites you to a “Just Ask Karla Teleconference”. Karla answers a lot of questions about true estate and the tax implications of owning a home and/or property, featuring queries from her consumers and the public at huge.

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A lot of the inquiries tend to be related in nature and of the identical topics, so listen as she interviews Angelica to elicit the most essential subject for home owners.

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In order to benefit type this webinar, anybody interested is encouraged to attend by registering at the hyperlink under. It will be offered beginning at Tuesday June 12th at 5:30pm (Pacific), click the link beneath to study about it and sign up to join and listen.&#13

Click Right here To Register For The Webinar

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Absolutely everyone is invited to listen in on this call for totally free so they can understand the most frequent troubles that crop up concerning actual estate ownership.

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Karla Dennis is CEO and owner of Cohesive Tax, a tax arranging firm.

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Wells Fargo Faces Several Claims Connected to its Involvement with Choose-a-Spend Loans

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Roseville, California (PRWEB) September 30, 2011

UFAN Legal Group, Pc, DBA: United Foreclosure Attorney Network (UFAN) filed a lawsuit in Sacramento Superior Court (case number 34-2011-00110146), alleging in element that the unfavorable amortization mortgages acquired by Wells Fargo had been predatory and injured borrowers.

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Golden West Financial was 1 of the countrys leaders in the issuance of Choose-a-Spend loans. These loans are negative amortization loans, meaning: the minimum monthly payment may not cover all of the accrued interest on the loan. The unpaid interest is then added to the principal balance of the loan. Not only is the borrower not paying down the balance, but the balance is really expanding as interest remains unpaid and the balance to which interest applies grows over time. A report by the Charlotte Observer specifics how Wachovia inherited Golden West’s choose-a-spend mortgages when it acquired the California bank in 2006. Wachovia was then acquired by Wells Fargo in 2008. As reported in the media, there have been widespread allegations that Golden West and Wachovia misrepresented these loans to clientele. It is alleged in the UFAN complaint that even prime borrowers with great credit have been placed in these subprime loans. The complaint states that these borrowers have been frequently told that they have been getting placed in the most advantageous loan available to them. According to the filing, the motivation for placing prime borrowers in very predatory subprime loans had been the high origination charges paid to brokers and agents who originated these loans.

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The California Lawyer Common brought claims against Wells Fargo for these damaging amortization loans, the Charlotte Observer reported. At the time, the then attorney common, Jerry Brown, stated, Customers have been provided adjustable-rate loans with payments that mushroomed to amounts that eventually thousands of borrowers could not afford. When the payments ballooned and property owners defaulted, borrowers had been foreclosed and dispossessed of their properties, the report states. In 2010, Wells Fargo settled with the Lawyer General for liability surrounding the improper practices of Golden West and Wachovia. According to the report, Wells Fargo agreed to spend $ 32 million in restitution to property owners who had lost their residences to foreclosure, as effectively provide loan modification worth $ 2 billion for borrowers who had choose-a-spend loans with Golden West or Wachovia.

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Earlier in December, as reported by Reuters, Wells Fargo settled a class action suit brought on behalf of borrowers injured by the unfavorable amortization loans issued by Wachovia amongst 2003 and 2008. Plaintiffs alleged that the loans violated federal truth in lending laws because the loan documents failed to adequately disclose the prospective for the loan balance to really enhance over time. As element of this settlement, Wells Fargo paid out $ 50 million and agreed to modify the loans of borrowers who are nonetheless in their properties, the report states.

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According to the complaint filed by UFAN, Wells Fargo is not appropriately functioning with distressed homeowners in extremely predatory loans, such as the Choose-a-Pay loans to modify the terms. The complaint alleges that Wells Fargo is responsible for the negligence of the banks it acquired and for its personal negligence in its servicing of these loans right after the acquisition. Since of the alleged negligence, the borrowers have been injured.

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UFAN is devoted to fighting for justice for American home owners. These borrowers deserve relief and we are determined to assist, says Kristin Crone, Lawyer and CEO of UFAN.

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Complementary consultations obtainable.

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ABOUT THE UNITED FORECLOSURE Attorney NETWORK

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UFAN Legal Group, Pc, DBA: United Foreclosure Lawyer Network (UFAN) is a Roseville, California-based law firm offering mortgage litigation and other debt connected legal services. The committed attorneys and staff at UFAN perform tirelessly to seek justice and fight for the rights of its consumers. For much more details get in touch with toll totally free 1-866-400-4242.

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This release may constitute lawyer advertisement. The details in this release and on the UFAN web site (ufanlaw.com) is for common details purposes only. Nothing in this release or on the UFAN internet site should be taken as legal tips. Prior successes are no guarantee of future efficiency. Litigation is inherently uncertain and benefits in litigation are in no way assured.

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Banks Motivated to Sell Difficulty Mortgage Loans at Discount at Year-Finish

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(PRWEB) December 29, 2011

Banks are evidencing a willingness to sell their issue industrial actual estate loans at a substantial discount prior to the end of this calendar year, stated Kevin Levine, Executive Vice President of Strategic Asset Options/Peak Asset Options. If those dilemma real estate loans remain on their books via December 31, banks will be required to develop substantial reserves against them, he said. This will effect their earnings reports for the fourth quarter and for 2011 as a entire. And it will decrease their tangible capital ratios. So they have every single motivation to sell those loans and get them off their books ahead of the year comes to a close.

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Levine explained that despite the motivation for quick sales, banks will not enter into just any loan-sale transaction. The bank must perceive that the value it will obtain from the year-end loan sale will be equivalent to or greater than what it would get upon foreclosure, he mentioned. In making that calculation, the bank will contemplate the costs of foreclosure and the estimated time delay ahead of the property can be resold. Levine explained that the bank will want a clean sale, with no circumstances and the potential loan purchaser will have to offer a proof of funds evidencing that it has the money to close the transaction in a matter of a few days.

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Levine commented that if there is a sturdy guarantor, the bank will be considerably much less prepared to approve a note buy resulting in a book loss. Nonetheless,” he stated, “if the guarantor is insolvent or otherwise financially weak, the bank will not be capable to appear to the guaranty as a source of recovery. If these are the circumstances, the bank could effectively conclude that it is very best to reduce its losses and dispose of the issue asset now.

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Strategic Asset Options/Peak Asset Solutions delivers commercial loan modification and quick sale services in California and all through the country. The companys personnel bring substantial commercial true estate expertise to every assignment, like industry evaluation, valuation, legal, and negotiation expertise. Every single borrowers special lending circumstance is totally analyzed, and the borrower is assisted in preparing present operating reports and projections. Then, Strategic Asset Solutions/Peak Asset Solutions drafts and submits to the lender a loan modification proposal. That proposal may possibly contain a principal reduction, interest rate reduction, and waiver of penalty charges. In these situations where a loan modification will not function to the mutual advantage of the borrower and lender, Strategic Asset Options/Peak Asset Options will attempt to broker a short sale of the industrial actual estate at a substantial discount from the loan balance, or will seek to negotiate a sale of the note to a third-celebration.

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Strategic Asset Options/Peak Asset Options is a single of the entities in the Peak Corporate Network headquartered in Woodland Hills, California. In addition to commercial loan modifications, the Peak Corporate Network entities offer mortgage lending, loan servicing, residential quick sale solutions, 1031 exchange, trustee operate, foreclosure services, genuine estate brokerage and escrow solutions. For much more details, check out http://www.peakcorp.com

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The Peak Corporate Network brand represents a group of associated separate legal entities, every single supplying its exclusive set of real estate solutions.

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A lot of Commercial True Estate Loans Now Coming Due Are Unable To Be Refinanced As Result of Declining Home Values

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(PRWEB) May 10, 2012

Declining commercial true estate home values have substantially reduced borrowers abilities to refinance their maturing loans, stated Kevin M. Levine, Executive Vice President, Peak Asset Options (http://www.peakassetsolutions.com). Several of those properties have been acquired through lender financing in the mid-2000s, at the height of the genuine estate boom, he stated. But now these loans with shorter-term maturities, due in five to seven years, are increasingly defaulting due to the refinancing barriers resulting from decreased home values. In several cases, the properties securing the loans are worth considerably much less than the loan balances.

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Levine explained that a borrower might have remained present in generating the loan payments. But if the loan has matured, the lender can’t renew or extend that loan without having creating a difficulty asset reserve against the portion of the debt that is now basically unsecured. This becomes a direct hit to the lenders earnings in the period in which the reserve is produced. And that identical worth decline prevents the borrower from refinancing the property elsewhere.

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Levine added that, Given the selection of renewing or extending the loan although producing the huge difficulty asset reserve, versus foreclosing, several lenders will elect to get in touch with the loan and foreclose. Then they are at least capable to achieve control of the house and take such actions as they deem ideal to begin to restore the worth.

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Levine pointed out that the borrower has a quantity of alternatives obtainable to it in such a predicament. The borrower can attempt to negotiate a brief sale of the house, he mentioned. But the lender will have to approve the sale price tag and, if there is a full recourse guarantor, settle the guaranty obligation as effectively. One more option that we usually advise is that we find a third party to purchase the loan at a substantial discount from the original lender. That third party then negotiates a reduced payment program with the borrower. Levine added that, if the borrower and lender cannot agree on a resolution, the foreclosure generally proceeds with the end result that the borrower loses the house.

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Brief sales and foreclosures negatively have an effect on the borrowers credit. And there can be federal and state tax liabilities for the borrower in addition to losing the property, Levine concluded.

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Peak Asset Options offers commercial loan modification and quick sale solutions in California and throughout the country. The companys personnel bring comprehensive commercial real estate experience to every assignment, which includes market analysis, valuation, legal, and negotiation expertise. Every borrowers unique lending predicament is totally-analyzed, and the borrower is assisted in preparing present operating reports and projections. Then, Peak Asset Solutions drafts and submits to the lender a loan modification proposal. That proposal could consist of a principal reduction, interest price reduction, and waiver of penalty charges. In these instances where a loan modification will not work to the mutual benefit of the borrower and lender, we will attempt to broker a short sale of the industrial true estate at a substantial discount from the loan balance, or will seek to negotiate a sale of the note to a third-party.

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Peak Asset Options is a single of the entities in the Peak Corporate Network headquartered in Woodland Hills, California. In addition to commercial loan modifications, the Peak Corporate Network entities provide mortgage lending, loan servicing, residential short sale, 1031 exchange, escrow solutions, trustee work, foreclosure services, and true estate brokerage solutions. For more info, visit http://www.peakcorp.com.

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The Peak Corporate Network is a brand that represents a group of separate legal entities, every single supplying its special set of genuine estate solutions.

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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