- 1 loan relief
- 126.96.36.199 Loan Relief Aid would like to welcome and congratulate you on taking the first step to relieving the financial burdens created by today’s difficult economic environment.
- 188.8.131.52 Contact one of our specialists today for a free analysis of your situation and a detailed plan on how you can get on the path to financial independence.
- 1.1 Find student loan relief with help from ACCC.
- 1.2 Options for student loan relief.
- 1.3 About Jason Spencer Dallas Student Loan Relief
- 1.4 Solutions to the Student Loan Relief Repayment Problem
- 1.5 Jason Spencer Dallas Student Loan Relief Programs
- 1.6 Jason Spencer Dallas Student Loan Relief Government Programs
- 1.7 National Payday Loan Relief Endeavors To –
- 1.8 For your FREE QUOTE fill out the form below!
- 1.9 Best Payday Loan Debt Consolidation Company
- 1.10 National Payday Loan Relief specializes in
- 1.11 04 Feb 11 Chase Opening Mortgage Help Centers in California
- 1.12 14 Sep 10 Underwater Mortgage Relief
- 1.13 14 Aug 10 Obama Mortgage Relief Success Challenged in California
- 1.14 09 Aug 10 Mortgage Relief Scams Targeted by FTC
- 1.15 19 Jun 10 Are California Loan Modification Plans Working for Lenders?
- 1.16 07 Jun 10 Qualifying for the Federal Loan Modification Program
- 1.17 17 May 10 Home Affordable Modification Plans Failing?
- 1.18 01 Feb 10 San Diego Home Foreclosures Rise
- 1.19 27 Jan 10 California Mortgage Defaults Down 24%
- 1.20 13 Oct 09 California Passes New Mortgage Loan Modification Bills
Loan Relief Aid would like to welcome and congratulate you on taking the first step to relieving the financial burdens created by today’s difficult economic environment.
Our unique approach to financial stability includes a plan tailored to fit your specific financial situation and your individual needs. We use a vast array of tools to assess your individual situation including analysis, goal setting, budgeting, education, planning, lending and guidance.
We can give you the ability to make a fresh financial start and will be with you every step of the way on your journey to financial stability. We will help thousands of families like yours regain financial independence this year.
Contact one of our specialists today for a free analysis of your situation and a detailed plan on how you can get on the path to financial independence.
313 Interstate Blvd., Sarasota FL 34240
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If your student loans payment is more than your budget can bear, you may be able to qualify for student loan relief.
College debt is something that many consumers struggle with, often into their 30s, 40s and even 50s. Without student loan relief, it can be hard to fulfill other financial dreams like getting married, buying a house or saving for retirement.
When you find yourself too deeply in debt, there are a number of ways to find student debt relief, and the financial professionals at American Consumer Credit Counseling (ACCC) can help you choose the options that make the most sense for your financial situation.
Find student loan relief with help from ACCC.
ACCC is a nonprofit organization with a mission to help consumers regain control of their finances and get out of debt for good. We provide free credit counseling and a low-cost debt management plan along with free educational resources and financial tools to help manage your money more effectively.
When it comes to student loan relief, our certified and highly trained counselors are experts at understanding your situation and directing you to the most appropriate resources for your financial goals.
At your first free credit counseling session, we’ll take time to review your finances and your financial goals, and then take you through all the options available to you for student loan relief. Our counselors can connect you with the many state and federal student loan relief programs that may help you manage your debt more easily.
Options for student loan relief.
Your ACCC credit counselor can help you determine which of the following forms of student loan relief may be most appropriate for you.
- Student loan consolidation. By consolidating multiple old loans into a single new loan, you may be able to lower your monthly payment and save money on interest.
- Student loan forgiveness program. Graduates going into the military, education, healthcare or public service may qualify to have all or a portion of their student loans forgiven.
- A new payment plan. You may qualify for a federal student loan relief program that can lower your monthly payment or tie it to your income level.
- Deferment or forbearance. If you meet certain criteria, you may be eligible to receive a deferment or forbearance, enabling you to temporarily postpone or reduce your monthly payments.
Learn more about student loan relief at ACCC and about resources for consolidating private student loans.
About Jason Spencer Dallas Student Loan Relief
America’s best and brightest are angry at being forced into decades of servitude by the overwhelming weight of debt undertaken for the betterment of one’s self and society. It’s certainly no secret that Student Loans have become this nations largest category of debt and their size continues to grow at a torrid pace. SLR has identified 233 different Congressional and State Governmental Bills and Policies, creating more than 300 different programs that can provide assistance to those that either need it or deserve it. Assistance that includes loan forgiveness, interest rate reduction, payment postponement, and immediate payment reduction according to Jason Spencer Student Loan.
Student Loans Relief offers its clients an affordable way to make their Federal Student Loan debt easier to manage. Their consultants work with borrowers to identify the best combination of Federal, State, and/or Local programs, given their financial needs. SLR will then create an implementation strategy that will maximize the impact of each program for the borrower’s unique situation. Participation in any of the programs will never negatively affect the borrower’s credit. But may, in some instances, improve their credit score according to Jason Spencer Student Loan.
Solutions to the Student Loan Relief Repayment Problem
We have all been told there is nothing anyone can do about their Student Loan debt, aside from paying it off in full. If you don’t pay, the government will garnish your wages, take your belongings, and take your spouse’s tax return. At Student Loans Relief Dallas we have a team of researchers that tirelessly scour new Congressional Bills for statues and programs that are buried within them that help our clients. We also follow legislation that is in the pipeline to be voted on in both the House and Senate. Currently, there are 11 Bills on the docket that would provide substantial assistance to Student Loan borrowers.
It comes as a surprise to most to learn that both Federal and State governments have passed a number of laws to help borrowers. Unfortunately, they failed to tell anyone about it. The failure by our government to effectively communicate the creation of hundreds of programs to assist borrowers is a problem. But at least it’s a problem with a possible solution. Thus while we have all been led to believe that the problem is that there is no help for student loan borrowers. The actual problem was one of effective communication of the help created for student loan borrowers. And of how to go about enrolling oneself in the little-known programs.
Jason Spencer Dallas Student Loan Relief Programs
Communication of the programs is difficult because many of them are not found in stand-alone legislation. They are buried within other legislation and there is no way of knowing they exist, aside from reading every Bill that gets passed by both Houses of Congress and signed by the President. An example is that in section 5201 and 10908 of the (http://www.opencongress.org/house_reconciliation) [Health Care Reform Bill __title__ Health Care Reform Bill] a number of new programs benefiting borrowers were created. But few noticed because it’s in a Health Care Reform bill on page 486.
The complexity of the application, qualification, and maintenance creates a need for the existence of an organization providing assistance. Universities Financial Aid Counseling does an amazing job at helping student borrow enough to meet their rising tuition costs. But they fail to provide adequate if any, direction once the student has graduated.
One of our clients said the lack of any advice when he did his exit interview with the financial aid office was akin to facing a cross country journey. And your “guide” providing you with just a local city bus pass, when you needed an airplane ticket. However, at Student Loan Relief we do our best to put every client in a first class seat for their journey. But taking over managing the entire process on their behalf.
Discovering that a Student Loans Relief Inc program exists is the easy part of the process, the much more challenging aspect of the process is complying with the extensive list of requirements. The requirements usually include a myriad of “if-then” statements. That can create a daunting task for anyone that does not have their Ph.D.’s in Law. In the rare instance, a borrower can locate a program. And comply with requirements to participate, more hurdles exist. Often the federal government gives borrowers just one chance to change their loan.
This often leads to selecting a program that doesn’t maximize the benefits available. And there is no way of changing it back. Another formidable hurdle is that many of the programs require additional work each year. And the work required can change from year to year. For example, the (http://stuff.mit.edu/afs/sipb/contrib/wikileaks-crs/wikileaks-crs-reports/R40122.pdf [William D. Ford Act __title__ William D. Ford Act)] created, arguably, the best Student Loans Relief plans to date when it was signed into law in 2008 and funded in 2010. But Bill numbers 33 pages while the amendments to the Bill number 52 pages to date according to Jason Spencer Student Loan.
Jason Spencer Dallas Student Loan Relief Government Programs
Our nation often looks upon government programs with disdain. However, we believe Student Loan Relief plans should not be seen in the same light. The borrowers that need assistance have done everything right in life. They were told to study hard in high school so that they could get into the best possible college. And they did. They were told not to worry about the cost of college because a degree is worth millions over your lifetime.
So they didn’t. They were told to study something they love. And not to let money be the only deciding factor in their future. And many of them did. They were told to get a degree no matter the cost. Because they would not be employable in the new global marketplace without one. Therefore our nations best and brightest did what their parents and society told them to do. However, the 17-year-old kid that went to NYU has to make $3500 a month payments six months after graduation. And since he can’t make that teaching in his first few years. He is forced to take a management position at Abercrombie instead of pursuing his passion for education.
In conclusion Student Loan Relief Dallas, Inc has created a program that assists our nations best and brightest in times of need. Also, rewards them for choosing to enter into occupations of National Need. We do this through the discovery, application, qualification, and maintenance of State, Federal and Private programs created on their behalf. However, we hope to help this nation’s 37 million student loan borrowers throw off the shackles of servitude binding them from pursuing the lives they deserve according to Jason Spencer Student Loan.
Student Loan Relief of Texas has developed programs that will assist nearly every one of the 40 million Americans that currently carry Student Loan debt. Whether you have defaulted or struggling to keep up with monthly payments. However, we can help lower your loan payments if you’re in need of help. Also, there’s nothing wrong with accepting the assistance provided, we are here to help!
Contact Jason Spencer Student Loan Relief
Jason Spencer Dallas SLR Address: 1910 Pacific Avenue, Dallas, Texas 75201 855-693-3356
Jason Spencer Dallas Student Loan Relief Inc
National Payday Loan Relief Endeavors To –
- Reduce your monthly payment
- Consolidation of multiple debts
- Lower your interest rate
- Terminate all late and over limit fees
- Stop harassing call from lenders
- Any legal help
- Consolidate your payday loans.
Trusted by thousands of individuals, just like you, that at one time or another, depended on a Payday loan service to help manage your personal finances.
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You can do something about your debt. Fill out the form or call us TODAY for payday loan help!
Our strategic Payday Loan Consolidation programs are designed to settle all of your debt. Time is the matter here. Don’t waste your time thinking about what to do. Give us a call to learn more about our programs.
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Best Payday Loan Debt Consolidation Company
The idea of payday loan has made people desperate to get some quick cash. At that point, the endless loop starts and they don’t have the idea about how to pay off the debt. Even if you pay off the debt, you are in short of cash then another new cycle start. After that, you have to take another payday loan to fix it. It goes on over and over. We can help you to get out of this cycle by our top notch payday loan debt consolidation programs designed for individual like you.
Our Payday Loan Debt Consolidation Program will work with you to help you to find the financial freedom that you must need. We help our customers in their efforts to lower their monthly payments, consolidate multiple debts into one, reduce their interest rates, and stop the harassing phone calls.
We understand your situation. You may feel as though you are trapped by your debt. We have helped more than 1000 cases successfully. If you have any question about our Payday Loan Consolidation Program, contact our debt consolidation team right now.
we specialize in helping consumers get free from payday debt
National Payday Loan Relief specializes in
Payday Loan Elimination and Debt Settlement
We understand that this may be a very confusing and frustrating time. Our company will hold your hand throughout the entire process. You can finally rest your head at night knowing that you are working with a company that specializes in eliminating and settling USECURED DEBT.
Please note that our policies and procedures apply only to websites owned and/or operated by us and not to websites maintained by other companies or to any website to which we may link or to unrelated businesses with which we may share information.
What is “Personal Information”?
Personal information is any information that you provide to us or authorize us to obtain that identifies you, personally, or that can be logically associated with you. Examples of personal information would be your name, your address, your e-mail address and your Social Security Number. Demographic information such as gender, age, zip code, etc., is generally not considered personal information.
Why Do You Need To Collect My Personal Information?
We collect and use personal information to respond more completely to your requests for products and services we offer and those of our business partners, as well to service your relationship with us and any account you may have with us. We also collect personal and other information to make you aware of products and/or services that are likely to be of interest to you.
What Personal and Other Information Do You Collect and/or Maintain?
We collect and maintain the information you provide to us, such as:
- Any information you provide to us on applications or forms when you request a product or service, such as your income and accounts with others. This information may include your name, your address, your telephone number and, in some cases, your Social Security number. Depending upon the product or service you request, you may also be asked to provide additional information, such as the amount of your current unsecured debt and the identity of your creditors, information about your mortgage and other financial and personal information.
- Information we receive about your transactions with us, such as your account balance, payment history and credit card usage.
- Information, such as your e-mail address, that you provide to us when you register to receive communications from us or when you communicate with us through our customer service facility, or otherwise correspond with us.
We also collect other, non-personal information, which is broadly defined as any information that is not and cannot be directly associated with you. An example of this type of non-personal information would be your zip code.
How Do You Use The Personal and Other Information You Collect?
We use the personal information you supply to us, for a number of purposes, such as to provide to you the service(s) or product(s) that you request, to service your account, and to keep you informed about services that may be of interest to you.
We may also use your personal and other information to enhance your experience on our website(s) by displaying content based on your preferences and/or to send information to you about additional products or services in which you may be interested. We may “depersonalize” your personal information to enable us to use that information, aggregated with the information of others, for research, analysis and modeling purposes.
We occasionally receive medical or health information from a customer if, for example, a customer lists a medical debt with us. We do not share medical or health information, including information received from third parties, among our companies, except to maintain accounts, process transactions or service customer requests to the extent permitted by law.
With Whom Do You Share My Information?
If you submit a request for a product or service, we will share the personal and other information you supply with those products and service providers that have agreed to participate in our network. Generally, these product and service providers are prohibited from using the information we provide to them for any other purpose, including using your information for other, unrelated marketing purposes.
By submitting your request you are consenting to being contacted by us or by our business partners, through any means, based on the information you provide to us, even if you have opted into the National Do Not Call List administered by the Federal Trade Commission, any state Do Not Call List or the Do Not Call List of any specific institution. If, after you are contacted by that product or service provider, you do not wish to be contacted by that person again you must make a specific request to the product or service provider.
As permitted by law, we may also share your personal and other information with a third party that provides a service or supplies a specific functionality to us, such as a call center operator. These service providers will be provided only with the information necessary for them to perform their functions and are not allowed to share any of the provided information with others for any purpose whatsoever.
Additionally, we may share your personal and other information within our family of companies for a number of purposes, for example, to process your requests and to keep you informed of services that may be of interest to you. Any person with whom we share your personal information is also required to comply with federal and state privacy regulations and will have its own privacy policies that should be made available to you at the time you are first contacted.
Are There Any Other Circumstances Where You Disclose My Information?
We may be required to share your information with law enforcement or government agencies in response to subpoenas, court orders or other forms of legal process. We may elect to share information when, in our reasonable judgment, such sharing is necessary or appropriate for the investigation or prevention of illegal activities, including actual or suspected fraud, real or potential threats to the physical safety of any person or otherwise as required by law.
How Do You Collect Information Online?
We collect certain types of non-personal information and technical data from each visitor to our website(s). For example, when you click on a banner advertisement or text link that is associated with one of our websites, the banner or text placement, along with the time of your visit, your Internet Protocol address and other path-related information, is sent to us. Similarly, the page requests you make when you visit our website(s) are stored and used by us. We use this information, none of which is or can be personally associated with you, for statistical and analytic purposes, to help us understand which page views are most appealing to our customers and to help us improve the likelihood that we will be able to offer you only products or services in which you have a genuine interest.
“Cookies” are small files that are placed automatically on your computer system when you visit a website. Cookies enable a website to recognize you as a return visitor and, by keeping track of your website activity, help us identify which pages to serve to you while reducing the time it takes for those pages to load. Cookies enable us to personalize and enrich your experience and are not tied in any way to your personal information. If you do not wish to accept cookies or if you wish to remove cookies that remain in your browser following the close of your browser session, you may adjust the settings on your web browser to prevent cookies from being placed on your hard drive. Please review your web browser “Help” file to learn the proper way to modify your cookie settings.
What Are Web Beacons?“Web beacons” are, like cookies, small files that enable an ad server to recognize a visitor’s cookie when the visitor returns to a particular site. Web beacons may also be used in e-mail advertising to help track which e-mail messages have been opened. Web beacons are used to track the movement of visitors to our sites and, like cookies, are not tied to any personal information.
How Do You Safeguard The Information You Collect?
The security of your personal information is a very high priority for us and we take a number of steps to safeguard it. Some of the measures we take are:
- Limiting access to personal information to those employees who are critical to the delivery of products and services to you.
- Implementing appropriate physical, electronic and procedural safeguards to guard against unauthorized access or use.
- Requiring appropriate consents and protections from our business partners before we share any personally identifiable information.
National Payday Loan Relief use commercially reasonable physical and technical security measures to protect all personal information in our possession. Sensitive information such as Social Security numbers are encrypted using secure sockets layer encryption from the time of your submission and while it is stored by us. We cannot, however, guarantee or warrant the absolute security of any system or that any information we hold will not be accessed, disclosed, altered or destroyed.
How Long Do You Retain My Personal Information?
We normally retain your personal information for a reasonable time after our customer relationship with you ends, and in any event, generally not less than one (1) year from the date we first collect it. For legal reasons, we may sometimes be required to retain personal information for a longer period. Under certain circumstances, Federal and/or state law may require us to retain your personal information for different periods of time.
We may disclose personal information about former customers to affiliated and other persons in the same way and of the same types as we disclose for customers.
Non-personal information may be retained indefinitely.
Can I Correct or Remove My Personal Information?
If you believe there are factual errors in any of the information you have submitted to us, please contact us and advise us of the error. To protect your privacy and security we may require that you verify your identity before we make any requested changes to personal information.
You can always elect not to provide personal information to us, although if you do not complete and submit the information we ask for we may not be able to provide you with the most complete responses or you may not be able to access all the available features.
Choices You May Make for Your Privacy
You may choose to limit the way we share information about you. You may also choose to limit the solicitations we send you. These choices are referred to as “opt-outs.”
I. Sharing of Information Outside of the National Payday Loan Relief Network Family of Companies
If you do not want us to disclose nonpublic personal information about you outside the National Payday Loan Relief family of companies, you may choose to opt out of those disclosures. In other words, you may tell us not to share this information and we will not, except in those cases where we may be required or permitted by law. For example, required disclosures may be made to law enforcement and regulators, while permitted disclosures may be made to vendors assisting us in opening, maintaining or servicing your account. (CA and VT Residents: To the extent state law applies, we will not disclose information about you outside the National Payday Loan Relief family of companies, except as required or permitted by law.)
II. Use and Sharing of Information among Companies in the National Payday Loan Relief Network Family
Affiliate Marketing-Companies in the National Payday Loan Relief family may market their products and services to you based on information received from other companies in the National Payday Loan Relief Network family. This may include any information collected about you including your income, your account history, and your credit score. If you would like to limit the offers you may receive based on this shared information, you may choose to opt out. If you opt out, we will not market products or services to you based on information received from other companies in the National Payday Loan Relief Network family, except as expressly permitted by law. This limitation will not apply in certain circumstances, such as if you ask to receive information from the National Payday Loan Relief Network company.
Your opt-out choices will continue to apply until you tell us to change them, except with respect to limits on solicitations which we will honor for the time periods required by law. If you have previously opted out based on the National Payday Loan Relief notice and would like to keep the same preferences you do not need to opt out again.
Joint/Multiple Accounts: Your opt-out choices will apply to all of your consumer accounts within the National Payday Loan Relief family of companies, including joint accounts. For a joint account, an opt-out choice made by one joint account holder will only apply to that account holder.
Applicants: Unless otherwise notified, applicants who do not become our customers may not make certain privacy elections. Call us toll free at 1-888-407-4521 to exercise one or more of your opt-out choices described. If you wish to stop receiving e-mails from us or from a third party e-mail service, we recommend you follow the opt-out instructions included in the e-mail.
Do You Use My Personal Information to Contact Me Without Permission?
National Payday Loan Relief Network has a strict “anti-spam” policy for itself and its business partners and vendors. You will not receive National Payday Loan Releif Network e-mails unless you submit your e-mail address to us or register on one of our websites to receive communications, such as our newsletter.
You may tell us not to solicit you at your postal mailing address, telephone number or e-mail address. If you elect not to receive marketing offers by postal mail, telephone and/or e-mail, please note that we may continue to contact you as necessary to service your account and for other non-marketing purposes. We may also continue to provide marketing information in your regular account mailings and statements, including online and electronic communications.
To receive our newsletter via e-mail you must sign up on one of our websites. If you decide at a later time that you no longer wish to receive our newsletter, you may unsubscribe using the “unsubscribe” link on each newsletter that you receive. If you have any problems unsubscribing, please contact us.
A Special Note about Children’s Privacy
We do not knowingly collect, use or share personal information about visitors under 18 years of age. If you are under 18 years of age, you can use the products and/or services offered on our website(s) only in conjunction with your parents or guardians.
Special Notification for California Residents
California residents who provide us with their personal information may request certain information regarding disclosures made to third parties for direct marketing purposes, including the names and address of those to whom such disclosures have been made. Such requests must be submitted to us at the following mailing address: National Payday Loan Relief, 3317 NW 10 Terr, Fort Lauderdale FL 33309. This request may be made no more than once per calendar year.
04 Feb 11 Chase Opening Mortgage Help Centers in California
JPMorgan Chase announced that the bank was set to open a mortgage help center in Fresno California later this year. The Chase Homeownership Center continues to get good feedback from their customers nationally. Even as California mortgage programs remained at the most affordable level in 50-years, not enough homeowners qualify for mortgage refinancing to reduce their monthly payments.
Chase continues to reach out to provide mortgage help and foreclosure relief to homeowners across the country. These home loan relief centers are part of their national expansion to assist distressed homeowners to avoid foreclosure. Eileen Leveckis, a spokeswoman for Chase in San Francisco said, “We started this whole initiative in response to the crisis.”
Five to eight loan officers would be redeployed from other Chase locales to staff the Fresno center, part of a 19-state, 25-center expansion of the mortgage help program. “We want to reach as many homeowners as possible and try to help,” said David Lowman, CEO of Chase Home Lending, in a statement. “The best way to help borrowers find ways to stay in their homes is to sit down face-to-face and discuss their individual circumstances.”
Since the home foreclosure prevention program began, Chase has met with 120,000 customers at its current 51 mortgage relief centers, the company said. Chase has promised many new mortgage help centers in 12 new states, including Oregon and Utah and they are opening additional centers in the Oxnard-Westlake-Simi Valley area and in Texas, Washington and eastward. According to Leveckis Chase has prevented 468,000 foreclosures with their loan modification programs, short sales and term extensions since 2009.
14 Sep 10 Underwater Mortgage Relief
Attention homeowners who are struggling with an underwater mortgage – - – good news may have arrived. HUD recently announced a new mortgage relief program that targets distressed homeowners who are trying to refinance a mortgage but have been unable to qualify because of negative equity. The Emergency Homeowner Loan Program was developed to assist borrowers who have been able to pay their mortgage on time, but unable to refinance because their mortgage is greater than their property value.
In the recent past, the Obama administration has attempted to help the struggling housing market but most of mortgage relief initiatives have failed. Refinancing underwater mortgage loans has certainly become a common challenge that thousands of homeowners appear to be ready to embrace. This new FHA program which started last week is often referred to as the FHA short refinance because the 1 st mortgage balance is written down to the present market value, thus “short refinance.“
This refinance relief program was created to help to borrowers with underwater mortgage liens refinance into reduced principal mortgage loans. The maximum amount allowed to be forgiven is 10%. To help facilitate the news refinances, the U.S. Treasury has pledged to offer incentives for existing second mortgage liens who agree to “full or partial extinguishments” of the liens. So, this new FHA plan that is boasting to help 1.5 million homeowners has me a bit concerned.The major obstacles most borrowers are facing are that their present mortgage lender has to agree to write off at least 10% of the principal balance on the 1st mortgage lien. Like some of the past loan modification and FHA Secure programs, this mortgage relief effort is voluntary in nature and requires the consent of both first and second mortgage lien holders.
The government has placed aside $14 billion in TARP funds to help support this new program. But the question of the foreclosure day is, “Will lenders and mortgage servicers cooperate?” Qualifying for the Emergency Homeowner Loan Program or FHA short refinance may be difficult but the financial rewards are significant so we recommend that you attempt to get qualified. Getting your mortgage balance reduced and your monthly payment lowered are two amazing feats worth striving for.
14 Aug 10 Obama Mortgage Relief Success Challenged in California
California Lawmaker Challenges the Obama Administration’s Claim of Successful Mortgage Relief
Underwater mortgages, short sales and home foreclosures have taken their toll on the California housing crisis. Ask the struggling local homeowners how the California loan modification process is going. Yet the Obama Administration continues to act as if property values are rebounding and we are out of the woods economically. I’m not sure where the President is getting his news from, but California has not turned the corner yet on the housing crisis.
Most distressed homeowners will tell you that get approved for a mortgage modification is almost as difficult as it is to be approved for a California mortgage refinance. Foreclosures have become a serious problem in most of California and the Federal loan relief simply has not been attainable for most homeowners in the state.
Qualifying for California Loan Modification Programs
California Loan Relief is in High Demand!
The scathing letter is a rare on-the-record criticism of the Obama administration’s policies from a Democratic lawmaker and reflects the frustration many in Washington are feeling over the federal government’s pace of efforts in providing mortgage relief struggling homeowners.
Rep. Dennis Cardoza, D-Calif., noted that the three biggest cities in his district are ranked in the top 10 of RealtyTrac’s foreclosure list and claims Donovan has a “fundamental disconnect” between the reality on the ground and the fairy dust the administration is spreading.” Cardoza says that Donovan failed to note the delinquency rate in his district has risen to more than 16% when he touted the decline in foreclosure rates in the Central Valley. “In most simple terms: things are not getting better in the Central Valley, they are getting worse,” he wrote. “We’re not going beyond the comments the secretary made in his editorial,” HUD spokesman Jerry Brown told FoxNews.com. The White House did not respond to a request for comment.
In the opinion article, published Wednesday in the Fresno Bee, Donovan declared that “thanks to comprehensive efforts of the Obama administration and local leaders, we see strong evidence that the region’s housing market is improving.” Donovan held up Central Valley as an example where the administration’s efforts have led to a decline in foreclosures. He noted that nearly every part of the Central Valley “has seen a substantial decline in foreclosures since this time a year ago.” “This improvement is the result of, in large part, the array of targeted tools the Obama administration has provided to communities in this region, to the state and to homeowners to begin stabilizing the housing market,” he wrote. But Cardoza argued that the administration’s primary housing programs – the Home Affordable Modification Program (HAMP) and the Neighborhood Stabilization Program (NSP) – “have not been effective in delivering aid to the hardest-hit communities.” “Instead of taking ownership for these failures and taking decisive action to correct their obvious flaws, the secretary’s column is just another example by the administration to defend the existing programs while turning a blind-eye to the magnitude to this crisis.”
09 Aug 10 Mortgage Relief Scams Targeted by FTC
Unfortunately many unscrupulous loan modification companies have committed mortgage relief fraud with shady loan mod scams across the country. The Federal Trade Commission announced in April of 2009, it would pursue “fraud and deception by mortgage loan modification and home foreclosure companies,” The agency seeks to halt “the proliferation of mortgage relief scams targeting distressed and vulnerable consumers who are delinquent or facing foreclosure,” said FTC Chairman Jon Leibowitz. He was joined by Treasury Secretary Tim Geithner and representatives of the Department of Housing and Urban Development and various state enforcers. See also its Nov. 24 release on Operation Stolen Hope.
Mortgage Fraud Victims
In this video, Latour “LT”Lafferty, attorney with Fowler White Boggs, identifies which mortgage fraud schemes consumers should look out for.
On July 29, the FTC announced Home Assure LLC, a company allegedly deceiving consumers with promises it could save their homes from foreclosure, will pay $2.4 million to victims in a settlement with the FTC. The case is part of the agency’s continuing crackdown on scams that prey on financially distressed homeowners. The agency’s complaint alleges “Home Assure LLC conducted a nationwide marketing campaign designed to take advantage of struggling homeowners by offering so-called mortgage relief and home foreclosure prevention services. Home Assure typically charged consumers up-front fees of $1,500 to $2,500.” Company representatives falsely claimed its “special relationships with lenders would enable it to get favorable loan modifications or stop foreclosures, and that the company had helped thousands of consumers avoid foreclosure.”
The FTC works for consumers to prevent fraudulent, deceptive and unfair business practices. The agency sends complaints to Consumer Sentinel, a secure, online database available to 1,800 civil and criminal law enforcement agencies Read more from this Tulsa World article.
19 Jun 10 Are California Loan Modification Plans Working for Lenders?
Thousands of struggling California homeowners have been screaming for years to get additional mortgage relief. Did you know that banks holding mortgage notes foreclosed on nearly 200,000 homes in California last year? Worse yet, it looks like the California loan modification plans are not working because 2010 toll looks like it will increase last year’s totals for loan defaults. California state lawmakers continue to try and plead with the lending banks to do extend more loan workouts that help both sides. Yet homeowner advocates say a serious problem remains. SB 1275 would prevent mortgage lenders and banks from foreclosing on borrowers who are seeking to modify their loans.
According to the LA Times, Many mortgage lenders are “overwhelmed and disorganized but they continue to foreclose on borrowers who are actually in the process of finalizing a home loan modification that would ensure more affordable monthly payments. At a time when the housing market is flooded with foreclosed homes, this doesn’t help anyone. The federal government rolled their attempt to stem the foreclosure crisis with the Home Affordable Modification Program that was created to stop lenders from foreclosing while a modification is pending, but other initiatives don’t.
California Senators Mark Leno and Darrell Steinberg are proposing to extend the same protection to all Californians seeking loan modifications. The California loan modification bill (SB 1275) would stop a home loan lender or mortgage service company from initiating the foreclosure process until after a mortgage loan modification application was denied. It’s a modest change that wouldn’t require mortgage lenders to change the terms of any loan modification program. Nor would it require lenders to do more to reach borrowers before foreclosing than state law already requires or to slow down foreclosures on borrowers who are beyond help. The law would require mortgage lenders to notify borrowers who get behind on their home loan payments about the foreclosure process and the availability of home refinancing or loan modification options, if any. And if borrowers applied unsuccessfully for a loan workout, the mortgage company would have to send them a letter explaining why they were denied and how they can appeal the decision before filing a notice that the mortgage was in default. The purpose of the bill was not just another attempt to help homeowners avoid making their mortgage payments; but it was created to help protect lenders from themselves. A recent report revealed that Housing counselors say the No. 1 problem is poor communication between mortgage companies and distressed borrowers.
07 Jun 10 Qualifying for the Federal Loan Modification Program
The last thing distressed homeowners need is more run around when they apply for a loan modification plan. The Obama administration has extended mortgage relief with the new federal loan modification program. One of the concerns people have is loan modification eligibility. Not every borrower will qualify so before you risk losing your house, find out if you qualify for the federal loan modification program. These home loan relief initiatives were created to help struggling homeowners, overcome financial hardships with foreclosure preventions with a loan workout.
Are You Eligible for a Government Loan Modification Plan?
Are You Eligible for Obama’s Loan Modification Program? To be eligible for mortgage loan modification options under the federal initiative, borrowers should be able to meet the following basic requirements:
o The home for which the loan being modified must be the primary residence of the applicant.
o The value of the present home mortgage cannot exceed $ 729,250 for a 1-unit property.
o The existing home loan should have been approved before 1st January, 2009.
17 May 10 Home Affordable Modification Plans Failing?
According to CNN Money there are 637,353 distressed homeowners that remain in a trial loan modification agreement. The rate at which of borrowers entering the Home Affordable Modification Program HAMP has slowed as servicers have begun to implement new requirements to gather income documentation at the beginning of the mortgage relief process.
Is HAMP helping second mortgage lenders ? New home loan modification statistics released by Treasury provide additional insight into just how well servicers are doing in converting trial mortgage modifications to permanent status. The six servicers who verified borrowers’ income before placing them in trials have transferred more than half to long-term adjustments, with HomEq Servicing and Ocwen Financial Corp leading the way with 83% converted. Those lending companies using stated income or no limited documentation approach, however, have yet to hit the halfway mark.
According to the State Department, the California loan modification program has not had much success either because borrowers still can’t afford their mortgage loan, even after the lender modifies the loan to a reduced monthly payment. The largest mortgage loan servicers are behind most of the top lending banks like, with Bank of America 25%, Wells Fargo at 25%, JPMorgan Chase at 22% and Citigroup at 21%. Homeowners also languished in trial loan modifications at certain servicers. Some 76% of those in the trial phase at Saxon Mortgage Services and 72% at JPMorgan Chase have remained at that stage for at least six months. Servicers, who met with Treasury and Housing Department officials last week, told the administration they would clear the bottle-necked process by the end of June.
According to industry insiders, major changes to the federal loan modification program are coming soon in the wake of criticism that the Obama administration must offer federal mortgage relief to struggling borrowers. Starting June 1st, homeowners will have to provide all their income verification documents before they are put into trial modifications. This will make it harder for troubled homeowners to start the process, but it should make it easier for them to qualify for permanent assistance. Refinance loans have been difficult for most homeowners to qualify for because of depleted equity and slumping credit scores, so the loan modification has become an important part of the foreclosure prevention equation.
01 Feb 10 San Diego Home Foreclosures Rise
DataQuick reported recently that home foreclosures in San Diego County surged last month, even as default notices dropped to their lowest level in more than a year. Analysts read those contradictory signs as further evidence that the local market might be stabilizing, since foreclosures pave the way for purchases by financially strong buyers. Fewer defaults mean either a decline in distressed owners or greater action by mortgage lenders to offer loan modifications or refinance mortgages to prevent a foreclosure. But they said other factors, such as rising delinquency levels, higher interest rates expected this spring and continuing high unemployment, point to uncertainty in housing for the foreseeable future.
DataQuick reported that home foreclosures totaled 1,515 in December, up 41.9% from November and up 20.9% from a year earlier. It was the biggest stack of foreclosures since June’s 1,630. Meanwhile, notices of default, the first legal action on the road to foreclosure, dipped 11.5 % from November’s 2,122 to December’s 1,878, the smallest figure since November 2008. It was down 38.5 % year over year. To real estate agents hungry for inventory of low-cost foreclosures to sell to bargain hunters, the upsurge in foreclosures promises to refill empty lists of homes for sale, although agents have complained in recent months that banks aren’t moving quickly to list those properties as a California short sales possibly increasing their bottom line..
On the default side, the continuing decline reflects the pressure being placed on lenders to work with troubled owners by modifying loans to make them more affordable, at least on a short-term basis, or allow properties to be sold as short sales — sold for less than the outstanding mortgage balance. “Clearly, many lenders and (loan) servicers have concluded that the traditional foreclosure process isn’t necessarily the best way to process market distress,” DataQuick President John Walsh said.
DataQuick analyst Andrew LePage said San Diego had the state’s highest large-county foreclosure spike in December. “It’s a mystery,” he said of the increase. Home foreclosures were up only 19 % in the six-county Southern California region. Many analysts warned against extrapolating from the latest data to assume that widespread distress on the wane. “Because the economy is no better and values have not come back significantly, there’s pressure on banks to postpone notices of default in an effort to seek alternatives,” said Mark Goldman, an adjunct professor of real estate at San Diego State University. He said San Diego might be nearing a “rough landing” and some price increases in certain areas. But the high-end part of the market still appears weak.
27 Jan 10 California Mortgage Defaults Down 24%
According to DataQuick the number of homes entering the first stage of foreclosure fell in the fourth quarter compared with the previous quarter, says a sign that banks are working with delinquent borrowers. Clearly, loan modification programs have helped thousands of California homeowners avoid foreclosures. Fewer Californian borrowers entered foreclosure during the last three months of the year as bailed-out banks appeared to step up their work with delinquent homeowners, according to data released this morning, although the number of homes taken back by banks rose slightly. California mortgage rates remain low, but most borrowers are unable to qualify for a refinance, so loan modification plans have become more important than ever.
The number of homes entering the first stage of foreclosure, or receiving notices of default, declined 24.3% during the fourth quarter from the prior three months, according to county data collected by DataQuick, a San Diego research firm. The decline in the default number is significant because any new wave of foreclosures will first be detected by that measure, according to the firm. Meanwhile, the number of homes taken back by lenders through trustee sales ticked up 2.1% in the fourth quarter over the third. The trustee sale is the final stage of California’s foreclosure process. “Clearly, many mortgage lenders and servicers have concluded that the traditional foreclosure process isn’t necessarily the best way to process market distress,” MDA DataQuick President John Walsh said. He said banks have been negotiating with distressed borrowers to keep them in their homes and increasingly turning to “short sales” in which the banks accept an offer that is less than the value of the outstanding mortgage; banks end up taking a loss on such deals. At the same time, big banks are feeling intense pressure in Washington to work with troubled borrowers through the Obama administration’s Making Home Affordable program. Much of that relief has been temporary.
Through December, banks had lowered mortgage payments for 172,288 California borrowers, but only 7.8% of those modifications were permanent, according to government data. Many experts consider that record a failure and fear that if the government doesn’t improve its performance those mortgage loans eventually will go into foreclosure and put pressure anew on the state’s housing market.
While the number of California mortgage delinquencies declined to 8.71% at the end of the fourth quarter from 8.87% at the end of the third, according to data from Equifax and Moody’s Economy.com, the percentage loans that were 120 days or more past due increased to 4.7% from 4.51%. Those figures indicate that the Obama administration’s efforts to help troubled homeowners have allowed some borrowers to stay out of default but kept many in a kind of late stage of delinquency limbo, said Celia Chen, senior director of Moody’s Economy.com. If the majority of borrowers who have received temporary loan modifications under Obama’s program are unable to get permanent changes to their bad credit-mortgages , another wave of foreclosures could follow, she said. “Given what we see in terms of the number of distressed properties that are in the pipeline, we do expect that home foreclosures will mount as borrowers are not able to make it from a trial modification to a permanent modification,” Chen said. “This will cause home prices to start falling again.” A total of 84,568 notices of default were recorded at county recorders offices during the fourth quarter, an increase of 12.4% from the fourth quarter of 2008. Trustees deeds recorded, or the actual loss of a home to foreclosure, totaled 51,060 during the fourth quarter, up 10.6% from 46,183 for fourth-quarter 2008. An all-time high for notices of default was reached in the first quarter of 2009 at 135,431.
13 Oct 09 California Passes New Mortgage Loan Modification Bills
California Governor Arnold Schwarzenegger approved 7 new mortgage relief laws that affect loan modifications and a range of mortgage processes. The new loan modification law will restrict how lawyers and loan modification companies can receive money. California loan modification options may quickly disappear without a financial motive for professionals to negotiate mortgage loan modifications. This law will affect a variety of consumer homeowner protections to home-mortgage holders and may permit a few to keep their homes.
The governor signed AB 260 which will take effect January 1, 2010 and will tighten restrictions on mortgage brokers so they will be unable to steer borrowers towards riskier, higher-interest loans when they qualify for safer, more affordable home mortgages.
The mortgage relief law will also prohibit negative-amortization home loans, which offer monthly payments that do not include any principal or even all of the monthly accrued interest, which can cause the amount of a home loan to increase over time.
The law also limits prepayment penalties to no more than 2% of the home loan balance and gives state regulators the power to enforce federal lending laws. The governor vetoed similar legislation last year at the urging of some groups in the mortgage and real estate industries. The California Association of Mortgage Brokers, the California Mortgage Association and the California Association of Realtors opposed this year’s version of the bill to no prevail.