Tag Archives: Minimize

LostMyDebt.net LLC Introduces ‘Project Property Relief’ and Assists Minimize Homeowner’s Mortgage Notes without Loan Modifications

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Elk Grove, CA (PRWEB) July 1, 2009

Project House Relief serves as an imperative require for home owners who are considered upside down or owing more than what their property is worth. State and Federal governments are unable to meet their economic obligations for that reason home owners do not get direct governmental “bailouts” and therefore principle reduction often is their ideal hope to afford their home at the present market place worth. Other possibilities such as a brief sale, loan modification, and bankruptcy are typically either unaffordable, unavailable, and have a extreme adverse influence on your credit score.

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LostMyDebt.net LLC introduces “Project Home Relief” with a mission to revitalize the economy by educating consumers about the travesty of the housing business, undesirable credit, credit card debt, well being care, and the a number of services that are affecting our economy negatively.

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Project Home Relief will educate shoppers on how to decrease their principal balance of their present mortgage note to the fair market place value without the uncertainties of a loan modification. Here is a short overview on how the plan functions.

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1) House Relief will negotiate with your lenders to acquire the mortgage note on your house or property beneath the existing industry value even though the residence by no means ever leaves the homeowner’s name.

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2) Soon after all parties have agreed upon the discounted obtain value, Home Reliefs affiliate residence servicing firm will service the mortgage note on your home or house. The acquire price tag will generally be at or beneath existing marketplace worth.

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3) The new mortgage note will be a 30 year fixed loan not based on your FICO or Credit score but on your income and employment. Types of properties: residential and coming soon commercial and raw land.

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“In my opinion, loan modifications are totally fantastic for some house owners, but reducing the mortgage principal balance to the fair market place worth with a 30 years fixed mortgage would make thousands of properties cost-effective once more and substantially reduce the number of residences in notice of default says John A. Barnes, the CEO and Co-Founder of LostMyDebt.net, LLC.” http://www.LostMyDebt.net

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LostMyDebt.net LLC complete vision is to restore, construct, establish, and defend shoppers by giving them options and providing services including Debt Settlement, Credit Restoration, Attorney Facilitated Property Loan Modifications, Standard and FHA Mortgage Financing, LifeLock, Living Wills &amp Trusts, Auto Loans, Discounted Dental and Wellness Positive aspects, Little Business Options, and considerably far more.

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With the complexities involved in the worldwide economy nowadays, it really is about time that an organization or company steps up and genuinely assists the property owners with what they genuinely want, their loan balance equal to the fair industry value. Every single homeowner will be given customized consideration no matter whether the loan payments are existing, late, or just not too long ago lost due to Trustee Sale.

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Contact nowadays for your cost-free Financial Demands Evaluation at 1-888-503-2911 ext. 717 or pay a visit to http://www.thepropertyrelief.com.

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Actual Estate Agent Forces Banks to Minimize Loan Balances on Investment Properties Via True Estate Cramdown Process

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Scottsdale, AZ (PRWEB) March 28, 2011

A real estate cramdown process may take over a year, and was in a position to force the banks and lenders to minimize loan balances making a principal reduction of the loan so you could maintain the investment properties with a crammed down new loan balance reflecting today’s current marketplace values.

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Robert Highsmith says “if you walk away from a investment house, or foreclose, or do a brief sale, or wait months for a loan modification, you finish up with nothing to show for your difficult operate, except poor credit, while with a forced loan principal reduction or cramdown, you nevertheless may get to hold your investment house, at today’s depression rates, and hold on to see a financial turnaround”.

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Discover Far more Loan Modification Press Releases

FHFA New Anti-Fraud Measures for GSEs to Minimize Mortgage Fraud and Limit Cost to Taxpayers

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Minneapolis, MN (PRWEB) June 19, 2012

The Federal Housing Finance Agency (FHA) announced an initiative yesterday to complement existing fraud reporting and to establish regardless of whether an individual or business need to be suspended from undertaking organization with Fannie Mae, Freddie Mac or the Federal Property Loan Banks to guarantee that regulated entities are not exposed to unnecessary dangers.

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Following the National Mortgage Settlement, and named the Suspended Counterparty Plan, it “will call for Fannie Mae, Freddie Mac and the Federal Home Loan Banks to notify FHFA whenever an person or business with whom they do organization is adjudicated to have engaged in fraud or other economic misconduct. See attachment.

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Fannie May possibly released a document titled, Fraud Finding Statistics,’ primarily based on Fannie Mae loan testimonials completed through the end of April 2012. The leading ten states by geography are, respectively, California, Texas, Illinois, New Your, Colorado, North Carolina, Florida, New Jersey, Georgia and Washington.

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Just released on June 12, by the Chicago Tribune, Francisco Rodriguez, 41, was indicted Monday on two counts of wire fraud right after an investigation by the FBI and Indiana State Police. The indictment accuses Rodriguez of presenting false financial info when he applied for mortgages for two Gary homes in summer 2007.

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Ann Fulmer, a lawyer and mortgage fraud professional who co-authors the quarterly Interthinx Mortgage Fraud Danger Report, says, There have been a number of federal situations not too long ago exactly where people have been convicted of bid rigging (at foreclosure auctions). The lack of data integrity possibly price lenders about $ two trillion so far because of REOs, short sales, foreclosure sales. The federal government has offered an additional $ 3 trillion in direct help to banks in attempting to stabilize the marketplace with foreclosure prevention and alternative programs. U.S. taxpayers lost about $ eight trillion in equity (due to declining property values). Thats all added up about $ 12 trillion or $ 13 trillion.

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Property owners can recall the Senate Banking Hearing on Feb. 28, 2012 and the discussion on safeguarding taxpayer dollars in the midst of housing recovery efforts. Senator Toomey and Edward DeMarco, the acting director of the Federal Housing Finance Agency confirmed the following: Right now, FHFA is balancing 3 responsibilities: preserve and conserve assets, make sure market place stability and liquidity, and prepare Fannie Mae and Freddie Mac for an uncertain future. Whilst the extended-term course of housing finance is becoming debated and eventually determined, FHFA meets these responsibilities by overseeing these organizations management of, and limiting expense to taxpayers from, their $ five trillion position in the market. Jenna Thuening, owner of Home Destination, finds the charges of mortgage fraud are staggering and protections are welcome.

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In January of this year, Michigan approved a new law generating mortgage fraud a felony. A individual who commits residential mortgage fraud is guilty of a felony punishable by imprisonment for up to 15 years, a maximum fine of $ one hundred,000, or both. If the loan worth stated on documents used in the mortgage lending procedure exceeds $ 100,000, even so, the penalty is up to 20 years’ imprisonment, a maximum fine of $ 500,000, or both.

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The FBI defines mortgage fraud as a material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, buy, or insure a loan. Mortgage fraud schemes can take a lot of types, such as loan origination schemes, illegal house flipping, foreclosure rescue scams, and brief sale schemes, which evolve as market place circumstances alter. Fannie Mae says, Affinity fraud is the term used for fraud schemes that prey upon or recruit people of related persuasion.

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Residence Destination encourages homeowners in search of protection from mortgage scams to read via Fannie Maes instructional presentation named Mortgage Fraud: Affinity Frauds. Frequent fraud tactics contain the use of straw buyers, falsified gift funds, and altered employment or asset documentation. A straw purchaser is usually a fictitious individual or particular person needing income to the extent that they would take on the danger of promoting their identity.

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House Location, a Certified Distressed Home Anticipate, aids purchasers and homeowners seeking a loan modification. steer clear of possible fraudulent processes.

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