Tag Archives: Mortgage

Passage of Mortgage Debt Relief Act to Encourage Quick Sales vs. Foreclosures for Residence Owners in 2013 East Bay Property Owners Aim to Take Benefit Ahead of Law Expires

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Oakland, Hayward, Fremont. California (PRWEB) January 10, 2013

According to the Internal Revenue Service, the Mortgage Debt Relief Act, which originally passed in 2007, enables a borrower who either obtained a loan modification or opted for a brief sale (a sale of a property for significantly less than whats owed) to be exempt from realizing the forgiven amount as taxable income.

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The extension of this law genuinely was a needed part of the actual estate recovery we are now seeing all over the nation. Whether selling a residence or if a single is fortunate enough to receive an cost-effective loan modification, the law served as a counter weight to the foreclosure epidemic we have witnessed considering that 2007. Stated Charles Lassey Founder of ACL Actual Estate and Property Management, a Northern California Complete Service Brokerage Firm that specializes in Short Sales and Property Management.

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In that study, it was located that the new extension almost certainly would not contribute to a new onslaught of delinquent mortgages in the initial half of 2013.

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Numerous opponents who took concern to the law pointed out that it will reward folks who strategically stopped paying their mortgages in hope for help from their banks and or servicers. ACLRealEstate.com disagrees when it comes to loan modifications, since several of the applications that exist right now apply only to loans that had been originated from 2010 and prior, with the bulk of assistance going to borrowers whose loans originated from 2008 and prior.

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Encouraging home owners to complete a quick sale is exactly where the industry appear to be headed. For the next 24- 36 months, a short sale will be the conventional sales in several locations of the nation. This law tends to make offers homeowner one further incentive not to go through foreclosure.

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NJW LAW, APC Resolves More than $100 Million of Distressed Residential Mortgage Debt in 2012

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Newport Beach, CA (PRWEB) January 17, 2013

Numerous homeowners nonetheless face difficulty with their underwater mortgages in spite of recent residence price tag appreciation. Usually these homeowners are confused as to what options could work for their distinct predicament. Most are unsure if they will qualify for a loan modification, deed in lieu of a foreclosure, HARP 2., quick sale, bankruptcy, or if they can (or ought to) file a lawsuit against the lender. In addition, property owners are confused how the current government settlements with the main loan servicers affects their rights. NJW LAW, APC has a proven track record of helping home owners navigate by way of these hard and stressful troubles.

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In 2012, NJW LAW resolved more than $ one hundred million in distressed residential mortgage debt. No matter whether via a short sale, modification, mortgage settlement, bankruptcy protection, or litigation, NJW LAW has achieved outstanding benefits for their clients.

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NJW LAW’s established good results is achieved by making use of a team approach to deal with every distressed residential mortgage case. By utilizing this unique approach, NJW LAW is ready to seamlessly move a file by way of foreclosure prevention, negotiations, short sale, or bankruptcy. If litigation is required, NJW LAW is well equipped and has successfully litigated against several of the largest banks which includes Bank of America, Wells Fargo, Capital One, and other individuals.

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NJW LAW, APC is a boutique law firm that practices in the places of Real Estate, Bankruptcy and Corporate Law. The firm attentively assists homeowners, Realtors, and investors with options for distressed residential genuine estate mortgage debt.

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NJW LAW gives free consultations. If you would like a lot more data you can make contact with NJW LAW, APC at (949) 273-0044

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*Previous final results are not a guarantee of future accomplishment. Every case is various. This is for informational purposes only. Nothing contained herein ought to be construed as legal suggestions. We are authorized to practice law in the State of California. You have to sign a dually executed retainer agreement with our office to retain our services.

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Complimentary Report released to help Distressed Property owners realize the Mortgage Forgiveness Debt Relief Act extension

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Baltimore, Maryland (PRWEB) March 19, 2013

On January 1, 2013, Congress passed an extension of the Mortgage Forgiveness Debt Relief Act as portion of tax bill H.R. 8, the bill addressing the fiscal cliff. Originally passed in 2007, this act exempts struggling property owners from paying taxes on debt forgiven in a quick sale, foreclosure, or loan modification.

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The bill extends the act through December 31, 2013, allowing underwater home owners to after once more pursue alternatives to foreclosure, such as brief sales or loan modifications, with no the worry of owing thousands and taxes.

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Sadly, some six years into the housing collapse it is reported that 7 out of ten house owners that locate themselves facing foreclosure finish up losing their house to foreclosure without ever realizing that other choices had been offered to them.

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For distressed property owners, the extension of the Mortgage Debt Relief Act was amazing news. Prior to this act, property owners would negotiate a loan modification or avoid foreclosure via a brief sale only to uncover they owed an equally unmanageable tax debt afterwards, The largest difficulty I have seen is that individuals don’t totally understand the benefits of this system and hopefully my complimentary report will answer some of their concerns says Dan McDevitt, Certified Distressed House Expert with Remax Very first Selection in Baltimore, MD

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As a Certified Distressed Home Specialist (CDPE), Dan McDevitt, Baltimore Brief Sale Realtor is specially trained to aid property owners who discover themselves facing foreclosure. Im committed to helping home owners who are struggling, McDevitt stated. As well often, property owners facing foreclosure think there is nothing they can do, but there is.

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In fact, the choices offered to home owners are far better than ever. Lenders comprehend how a lot foreclosures expense, and increasingly favor brief sales and other options more than letting a home go to foreclosure. Lenders are more prepared than ever to operate with property owners, stated McDevitt

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Dan McDevitt has created this complimentary report with much more info on the Mortgage Forgiveness Debt Relief Act and the choices accessible to property owners facing foreclosure. a copy of this report is also accessible from His site, http://www.BaltimoreAreaShortSales.com.

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About&#13

Dan McDevitt is a Realtor affiliated with Remax Initial Selection in Baltimore, MD that specializes in functioning with distressed property owners to assist them in discovering a dignified remedy to foreclosure. Given that 2006 when the housing market began its eventual collapse his team has helped more than 200 households in the Baltimore region stay away from the devastating effects of foreclosure.

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Stop Residence Foreclosure Aid Expands Its Info to Give Even More Material for Men and women to Discover What to Do When Facing Mortgage Payment Difficulty

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Pittsfield, MA (PRWEB) March 25, 2013

Stop Property Foreclosure Aid stands as a comprehensive totally free information resource area for folks with mortgage payment difficulties. Even though the web site undoubtedly helps men and women in foreclosure, the articles also endeavor to engage folks prior to their 1st late payment to address concerns before they become key troubles. Unlike most other sites about foreclosure, the Stop Property Foreclosure Support pages come with no hidden agenda or solution. The sites aims to educate and guide home owners to the ideal remedy for their own personal scenarios with out trying to push any distinct strategy which represents a company associated with the webpage. A former foreclosure prevention attorney who specialized in non-bankruptcy foreclosure prevention authored all FAQs and articles, such as these on bankruptcy. As much as both property owners and banks could favor avoiding bankruptcy in theory, typically filing chapter 13 bankruptcy becomes the final and only option to stop foreclosure.

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With a simple foreclosure FAQ and a lot of articles on methods to adjust private finances to stay out of mortgage trouble in the very first place, internet site articles aim to keep a foreclosure from ever beginning. An crucial and popular web page debunks unsafe foreclosure myths that can lead to folks losing their houses if they fail to know the genuine truth.

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Those already late on payments might study about certain solutions for stopping foreclosure like mortgage loan modification, chapter 13 bankruptcy and even mortgage refinancing with undesirable credit if payments did not fall too far behind but. Several men and women lose hope at the first legal notice from the bank, but until the final drop of the gavel from the auctioneer a homeowner might take advantage of many possibilities for avoiding mortgage foreclosure.

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In addition to particular support to stop foreclosure, numerous articles merely assist with the feelings faced by dealing with losing their property. From some of the psychological troubles of individuals tackling any debt concern to intriguing information about why foreclosure can be worse than getting a victim of a organic disaster from a private point of view individuals can hopefully feel a bit stronger and not so alone about their battle.

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Folks who nevertheless feel lost or need a second opinion on the very best way for them to proceed and keep their residence may possibly take advantage of a toll cost-free quantity supplied for a no price consultation. When saving the house no longer remains a viable alternative an honest discussion could take palce about the best ways to give up the home such as through a brief sale or deed in lieu of foreclosure.

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Property foreclosure represents one particular of the most hard challenges a person offers with in their lives. The ideal way to navigate it requires moving with all of the relevant knowledge one can possibly garner. The cost-free articles and FAQs on the Quit Property Foreclosure Help site supply a tremendous resource to understand what is taking place and respond at each and every stage of the foreclosure approach in a way that achieves the objective of maintaining the house.

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About:&#13

Quit Residence Foreclosure Help stands as a element of the Bankruptcy Options – Debtor’s Alternatives family of monetary data and tools web pages started in 1996 and currently provided by the Financial Firebird Corporation with a goal of offering buyers with free unbiased support from a former debt exercise and bankruptcy lawyer in picking the proper path to a brighter financial future.

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CEDAR Document Technologies to Attend Mortgage Bankers 2013 Servicing Conference, in Dallas, February 19 – 22

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Atlanta, GA (PRWEB) February 12, 2013

CEDAR invites conference attendees to schedule time with our auto finance professionals whilst attending the show. Practice managers will be accessible to go over how CEDAR’s communications management platform assists mortgage banks maintain pace with todays increasingly complex and swiftly altering regulatory atmosphere.

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This year’s MBA servicing conference will be held at the Gaylord Texan Hotel &amp Convention Center in Dallas, February 19 – 22.

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For a lot more data on CEDAR Document Technologies or to schedule a meeting at the conference, send an e mail to jstancil(at)cedardoc(dot)com or go to our website.

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About CEDAR: &#13

CEDAR Document Technologies is the top provider of hosted multichannel buyer communications and account self-servicing capabilities. CEDAR operates with mortgage lenders to increase and accelerate their finish-to-end processes for all higher value consumer communications. CEDARs buyer communications management platform lives amongst your core and your consumer, aggregating and transforming buyer account info into impactful, personalized buyer touches such as monthly mortgage statements, interest rate adjustment notices, safe payment applications and loan modifications.

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Mortgage Delinquencies Fell in 2012

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Chicago, IL (PRWEB) February 15, 2013

The Federal Savings Bank identified that the national mortgage delinquency price dropped in the fourth quarter of 2012. The report was released on Feb 12th and showed that the delinquency price fell to just 5.19% at the finish of 2012.

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The rate has now fallen for four consecutive quarters, and dropped almost 14% when compared year-over-year from 2012 to 2011. Only three states did not see mortgage delinquency prices fall from from 2011. Meanwhile 27 states and the District of Columbia all saw an improvement in the rate. According to the report the delinquency price on mortgages by way of the initial quarter of 2013 are anticipated to continue declining. This implies much more folks are almost certainly taking advantage of low mortgage prices. The Federal Savings Bank has noticed this huge enhance in refinance activity due to current rates.

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Government programs that can aid home owners facing foreclosure&#13

When faced with the possibility foreclosure, there are applications to help home owners retain their home such as refinancing.

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The U.S. Department of Housing and Urban Improvement suggests property owners directly get in touch with their lender and loan service providers to discover about alternatives obtainable to them. The Residence Affordable Modification System, Principal Reduction Alternative, Second Lien Modification Program and Home Inexpensive Refinance System allow homeowners to modify or refinance a home loan for reduced payments. &#13

The House Reasonably priced Refinance System supplies assistance to home owners who knowledgeable a lower in house value as a outcome of the housing crisis.

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There is also help obtainable for the unemployed. Unemployed home owners with a mortgage can apply for a applications like the Residence Affordable Unemployment Plan, which postpones payments for at least 12 months.

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The Federal Savings Bank suggests veterans to take advantage of unique refinance applications presented thought The Division of Veterans Affairs. The department offers a refinance program known as the Interest Rate Reduction Refinance Loan for veterans who already have a VA loan and are interested in reducing their month-to-month mortgage payments.

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The bank suggests that now is a excellent opportunity for those seeking to refinance because prices are trending at the lowest levels in decades.

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LoanSafeMods.com Assists Those Searching for Mortgage Modifications To Make Good Choices Quickly

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San Diego, CA (PRWEB) March 13, 2013

LoanSafeMods.com is becoming a principal source of information for homeowners searching for to benefit from mortgage modifications. LoanSafeMods uses the REST Report (True Estate Services And Technologies Report) which is a reputable third celebration analytical tool that provides detailed information on what the homeowner or mortgage modification applicant ought to qualify for ahead of they truly submit the application.

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This info can make applying for modifications a significantly easier and tension free of charge approach for home owners. Prior to the advent of the REST Report, applying for these modifications would be a quite time consuming, confusing and hard procedure. Several homeowners nonetheless do not know that there is an alternative to submitting their application, hardship letter, tax returns, paycheck receipts and other personal data, and then sitting back with their fingers crossed for up to twelve months just hoping and praying that it will be approved.

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With the REST Report, an individual can submit their mortgage modification request with confidence, understanding exactly what they can qualify for and with detailed info on how modifying the loan would be useful for all parties involved. But the REST doesnt only serve to act as a pressure reliever for property owners. For one particular it can support the homeowner to decide regardless of whether they should apply for the modification in the first spot. If the REST Report shows that modification is not the very best selection or basically not an choice at all, it can support the particular person to decide on one more course of action such as a short sale or other foreclosure option.

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This will save the would-be applicant months of waiting only to have their request denied and it can help to locate a workable resolution to the mortgage scenario as speedily as attainable. The Report will show the results of the evaluation in about 48 hours, so homeowners will be in a position to make excellent decisions quickly. If the Report shows that their application will most probably be approved, they can go ahead and submit their application with self-assurance. If the Report shows that approval is unlikely, this will also advantage property owners as it will permit them to appear for other alternatives as quickly as feasible.

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Additionally, the REST Report can aid to figure out what went wrong if a preceding application was denied. It will point out errors in the application, or if there were no errors it can even be utilized to prove that modification was greater than foreclosure if the person wishes to take the selection to court. It can show undeniable proof of what the homeowner could have or ought to have certified for, which will hold up in a court of law.

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As a licensee of REST, LoanSafeMods.com can support those who are looking for foreclosure alternatives by supplying important info about the REST and access to other advanced analytical tools offered on the web site. The REST Report is trusted by homeowners and lenders alike, and has helped millions of home owners to get the mortgage modifications that they deserve. For much more information, please pay a visit to LoanSafeMods.com.

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RESTReport.com: Thousands Avoid Foreclosure In 2012 With REST Assisted Mortgage Modifications

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San Diego, CA (PRWEB) March 15, 2013

The REST Report is a third celebration analytics tool provided by RESTReport.com that can assist property owners to avail of the mortgage modifications that are available to them. According to John Gittelsohn at Bloomberg Businessweek,

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The number of properties for sale has shrunk to the lowest level in a decade, easing concerns about a new wave of foreclosures.

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And, even though there are a lot of factors that the foreclosure statistics dropped inside the last year, part of that reason is that much more property owners are receiving their mortgages modified by lending institutions as an alternative of obtaining foreclosed. Thousands of these approvals of modifications and loan workout applications such as the HAMP and HARP applications have been obtained thanks to the REST technique at RESTReport.com. Brandon Moore, chief executive officer of RealtyTrac, said in a recent post on CNNMoney,

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“Applications like HAMP and HARP have absolutely produced a dent in the foreclosure difficulty,”

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Madeline Schnapp of Foreclosure Truth surmises that the increase in foreclosure cancellations is far more likely due to short sales or effective loan modifications rather than filing errors or statutory time frames.

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For many property owners, the REST Report has played a huge element in the good results of these loan modifications. Martin Andelman of IEHI, Inc. says, “Weve run over four,000 REST Reports and their effectiveness is unquestionable”

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RESTReport.com provides help for REST Report licensees that are compliant with the Federal Trade Commissions rulings on Mortgage Help Relief Services (MARS). REST Report licensees are offered with video tutorials, live assist desk assistance, pre-submission package critiques and other tips and methods to make certain that they are fully equipped with how the REST Report is utilized.

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The site is also continuously updated to keep licensees up to date on any new alterations in the modification programs accessible, taking into account, for example, the recent alterations to the HAMP programs. In turn, the licensees are in a position to supply timely assistance to property owners or customers to fulfill their wants and aid them uncover options to their loan problems.

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The calculations utilized take all the details into account and then determine what the best course of action is and what new loan terms, if any, are at the moment accessible and would be most beneficial to the homeowner and the most lucrative for the loan investor. In a lot of instances, the bank or investor holding the loan would acquire much more by modifying the terms of the loan rather than settling on foreclosure.

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Nevertheless, there are cases when the REST Report will show that the only alternative would be to foreclose. But, if the difficulty is detected early on, it can allow homeowners to make changes and possibly keep away from the impending foreclosure. Given that the REST Report provides a detailed and up to date analysis of the loan circumstance, it enables institutions to advise their customers as to what they can do to better their circumstances.

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The Report requires all the guesswork out of applying for greater loan terms and does not leave home owners in the dark as to why their request was denied. If there is a issue, the report will show that issue, and this will give home owners a chance to find a remedy prior to they really submit their application to the bank or loan institution.

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Simply because of the unprecedented quantity of details provided to the homeowners and the fantastic success rate for institutions that use the program appropriately, foreclosure is now becoming avoided by thousands and numerous far more that are facing repossession or foreclosure are discovering how valuable this tool can be.

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Firms that would like to use REST items can apply to grow to be authorized REST Report licensees by filling out a kind on RESTReport.com.

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For more data, please go to RESTReport.com or LoanSafeMods.com for a full overview of all goods and services supplied.

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Real Consumer Stories of Mortgage Loan Modifications Gone Wrong Detailed in New GoBankingRates.com Investigation

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El Segundo, CA (PRWEB) March 20, 2013

According to a Boston Globe write-up from January of this year, close to four million Americans have lost houses to foreclosure, although one more 10 million are at danger of foreclosure in the subsequent handful of years. GoBankingRates.com reached out to home owners presently chasing modification applications in order to avoid related fates, finding it is their lenders who usually stand in the way of a successful mortgage loan modification.

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Brenda C. is just 1 of the numerous victims of mortgage loan modifications gone incorrect. Following suffering job losses and an expensive health-related emergency in the midst of a down economy, she and her husband filed for bankruptcy. They managed to hold onto their home, but necessary a mortgage loan modification to preserve it.

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At the advice of her loan representative, Brenda stopped producing mortgage payments in order to qualify for a modification plan. Nonetheless, after agreeing to a trial period of lowered payments, the lender stopped answering the phone. “It just drug on for months and months previous the three-month trial. I could not get anything in writing from the mortgage business, and our loan rep would not get in touch with us,” she explained to GoBankingRates. Now the couple is facing foreclosure.

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Terri H. knowledgeable a similar ordeal, attempting to have her mortgage modified when a single piece of documentation threw a wrench in the process. “I knew I had sent it in,” she told GoBankingRates, “and when I named, my ‘customer service’ rep told me not to be concerned, every thing was in and to ignore the notice I got.” Thirty days later, Terri received a notice that her modification had been denied and she could apply the following year.

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GoBankingRates managing editor, Casey Bond, states, “After convincing borrowers to take on mortgage loans they couldn’t realistically afford, mortgage servicers are now forcing borrowers to jump via hoops in an try to modify these loans to reasonably priced terms.”

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She adds, “In many cases, these are accountable, well-educated individuals who regrettably fell victim to the mortgage crisis, and now they are left on their personal to choose up the pieces or foreclose.”

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Click here to read their stories.

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For questions about this report or to schedule an interview with a GoBankingRates editor, please use the make contact with details under.

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About GoBankingRates

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GoBankingRates.com is a national web site dedicated to connecting readers with the best interest rates on financial solutions nationwide, as properly as informative personal finance content, news and tools. GoBankingRates collects interest price information from much more than four,000 U.S. banks and credit unions, producing it the only online prices aggregator with the potential to offer the most extensive and authentic nearby interest rate data.

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Get in touch with:

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Jaime Catmull, Director of Public Relations&#13

GoBankingRates.com&#13

JaimeC(at)GoBankingRates(dot)com&#13

310.297.9233 x261

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Source: The Boston Globe, Mixed score on federal mortgage modification program, January 27, 2013.

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LoanSafeMods REST Reviews Show How Efficient the REST Report is When Dealing with Mortgage Modifications

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San Diego, CA (PRWEB) March 21, 2013

LoanSafeMods is a licensee of the REST Report (Actual Estate Solutions and Technology Report), a third celebration analytics tool that has helped thousands of homeowners, nationwide, to avail of the foreclosure alternatives that they deserve. The Report takes all the current information and calculations from the government and proprietary loan exercise programs available and runs it against the data of the homeowner, therefore giving them detailed info on all the possibilities available offered their specific financial predicament.

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In numerous circumstances this can help to speed the application approach when submitting a mortgage modification request or it can aid to pinpoint troubles with the application if it was formerly denied by the bank or other lending institution. The information provided by the REST Report, which only takes 2 to 3 days to approach, is so dependable that it can even stand up to court level scrutiny if a homeowner ever decides to take a lenders decision to deny their request to court.

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There are thousands of homeowners who are working by means of the modification process who could advantage from employing the REST. This is why LoanSafeMods.com has created an work to get the word out about this very valuable tool by releasing a quantity of video reviews by home owners who have been helped by the REST.

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Crystal, a homeowner in San Diego, California who lost her fianc