Foreclosure Looming?

Mortgage Litigation and Foreclosure Defense…

We help homeowners that are in need of help to prevent foreclosure NATIONWIDE.

We are helping families who are at risk of foreclosure stay in their homes.

If you received the mortgage or refinanced between 2001 and 2009 we have real solutions for you.

• Do you have a sale date and want to save your home?

• Are you struggling with their mortgage payment and need an affordable solution?

• Have you been denied for a loan modification and donʼt know where to turn?

• Do you want to sue the lender?

If can answer YES to any of these, 

WE CAN HELP!

We can show them what options are available so you can make an informed decision.

Our goal is to keep you in your home forever with a payment you can actually afford.

Contact me for a No Cost No Obligation Consultation.

nonagan@tampabay.rr.com

Underwater Home Saved from Drowning in Debt

60 Minutes Mortgage Crisis story by Scott Pelley

Wait until the second wave of foreclosures hits the housing market.

"One out of every ten Americans is behind on their mortgage."

60 Minutes Reporter Scott Pelley story on the coming second wave of mortgage defaults. "Where's The Bottom?"

"One out of every ten Americans is behind on their mortgage."

If you think the subprime mortgage foreclosure crisis is bad, wait until the second wave of foreclosures hits the housing market.

Alt A and Option ARM Loans that were originated in 2005-2007 are ready to reset. When the interest rate resets on an ARM, the monthly payment can go from $800 per month to $1,500 per month. This is a ticking time bomb that is now due to go off. Predatory lending practices enticed borrowers into loans with "teaser rates". A mortgage that has a teaser rate loan of 1% can go to 9% overnight. Some of the loans were "liar loans" that the home buyer could not a actually afford.

The US mortgage bubble is only halfway through bursting. Things are going to be much worse that was thought.

Bankers Atrested

Banking BOMBSHELL - FDIC SUES BIG BANKS!

CHECK THIS OUT!

The FDIC, (that’s the Federal Deposit Insurance Corporation) just filed suit against the big banks alleging in very specific terms A MASSIVE SCHEME TO LIE, CHEAT, STEAL AND DEFRAUD.  You’d think this kind of thing might warrant a story or two in the national press…but then again, they’ve got far more important things to report on. Well, don’t count on The Press to actually report on anything meaningful anymore.

This is an action for damages caused by violation of the Texas Securities Act
(TSA) and the Securities Act of 1933 (1933 Act) by the defendants. As alleged in detail below,
defendants issued, underwrote, or sold eight securities known as “certificates,” which were
backed by collateral pools of residential mortgage loans. Guaranty Bank (Guaranty) paid
approximately $1.5 billion for the eight certificates. When they issued, underwrote, or sold the
certificates, the defendants made numerous statements of material fact about the certificates and,
in particular, about the credit quality of the mortgage loans that backed them. Many of those
statements were untrue. Moreover, the defendants omitted to state many material facts that were
necessary in order to make their statements not misleading. For example, the defendants made
untrue statements or omitted important information about such material facts as the loan-to-value
ratios of the mortgage loans, the extent to which appraisals of the properties that secured the
loans were performed in compliance with professional appraisal standards, the number of
borrowers who did not live in the houses that secured their loans (that is, the number of
properties that were not primary residences), and the extent to which the entities that made the
loans disregarded their own standards in doing so.

http://mattweidnerlaw.com/blog/2012/09/bombshell-bombshell-bombshell-fdic-sues-the-big-banks-for-massive-securities-fraud

So finally someone is holding these banks accountable.
This will be interesting

Chase Bank Doing Automatic Load Modifications

Looks like  one of the big banks is finally doing something right.

Chase bank is doing Loan Mods for their customers.

Under the settlement, banks get more credit for modifications that are completed in the first year so the banks are trying to move quickly. By the time the deal was approved in April, Chase had already put together a team to mine through its mortgage paperwork and identify candidates who met the modification guidelines. The borrowers' loans had to be directly held by Chase, not divvied up among investors or backed by Fannie Mae or Freddie Mac. And many of the eligible borrowers also either had to be delinquent on their loans or owe far more on their homes than they were worth.Chase identified thousands of borrowers who fit the bill and mailed them letters asking them to call the bank to discuss a modification of their loan, according to spokeswoman Amy Bonitatibus. Yet, getting customers to respond was more difficult than the bank thought. It heard back from only about half the customers it contacted.

Hoping to get more mortgages modified more quickly. Chase has streamlined the process. It now reworks the loan terms and simply lays out the new payment plan in a letter to its borrowers. The borrower sees the new rate, or how much principal has been taken off their balance, and what their new payments will be. All they have to do is sign the letter approving the new terms and send it back to the bank.

http://investing.bryanellis.com/3545/chase-begins-automatic-loan-mods/

http://money.cnn.com/2012/09/10/real_estate/chase-refinance-mortgage/index.html

However the customers described in the CNN article were 2o months behind on  their mortgage.

If they were current but still underwater, would Chase modify their loan?

Probably not.

And this is only with Chase right now.

Hopefully the other banks will join in.

I'm not holding my breath waiting.

That is where our Note Restructuring Service comes in.

You can be current on your mortgage and have good credit,

but can't sell or refinance because you own more that the house is worth.

We can restructure the note and let the owner either sell or refinance and stay in the home.

We help people who are stuck in "underwater" houses to get 'Right Side Up".

We help people who are stuck in "underwater" houses to 

get 'Right Side Up".

During recessions of the past, people could simply 

move to an area of the country where the economy was doing better.

Now it is different. Many people live in houses in which they owe more that they are worth. 

This is called being "underwater" or "upside down"

They can not sell their houses and move because they would still owe money.

Some people try to work something out with their bank, only to learn 

the bank will only talk to them if they are behind on payments.

Some people try to do a "short sale" 

They try to sell to someone at less than what is owed.

They have to write a hardship letter telling the bank why they should get the short sale. 

They have to go through months of negotiations with the bank.

Still they may or not get approved for the short sale. 

And after the short sale is done - they may still owe money to the bank- 

and the IRS!

Then there is the loan modification strategy

You negotiate with the bank to lower the interest rate or principle.

First you have to be behind on payments for the bank to even talk to you.

And again you are trying to get the bank to give you a deal the don't want

to give you. You will get the runaround just trying to get to the right person

to talk to. Many times they don't actually do a loan mod, it's a refinance.

And you are still struggling to make payments on a house that is

underwater.

You can hire a lawyer to do this for you. It will cost you thousands of

dollars up front. Hopefully, the lawyer will be successful.

Some people just give up and walk away. They lose the home, 

They lose all the money they spent in mortgage payments. 

And their credit is ruined.

Oh. here is the next option...

I was in a Real Estate discussion board the other day. The poster was asking for advice.

 He and a partner own a multimillion dollar commercial property.

The property was "underwater" and they were barely making ends meet.

They can't sell and they can't stay in it much longer - what should they do.

The only suggestions given was bankruptcy. 

A board full of 'real estate experts: and all they could say was "commit financial suicide"?

I wanted to scream, "NOOOOOOO!"

There is another way.

Our company negotiates with the lender.

We buy the note at a discount.

We get the note refinanced. 

Now the owner has real equity.

They can either keep the property, because now they can afford it.

Or they can sell, and move on.

The Note Restructure Service is going great!!!!

The Note Restructure Service is going great!!!!

We've come to a verbal agreement with another property owners bank today.

The reduction on the first lien will be over $120K

and we're now working on the second lien and third lien!

We'll update you on the total spread on this when completed! 

Golf Course Note Restructure $5.6M

Another SUCCESSFUL Note Restructure Service transaction!

Golf Course Package in California – 4 courses, one owner.

We reduced the first lien note from $11M to $4.5M
with a new refinance loan of $5.6M from a private investor.

How do you think the property owner feels about this?

Note Restructure Success

Very recent success... a note restructure on a Wells Fargo Bank note.
We have reduced the principle from $445K down to $239K!

Guess how the homeowner feels!

Notes Held by Private Parties

Note Restructure Service – in addition to working with jumbo notes we can also work with notes held by private parties. If the note is held by a private party there is no minimum amount required on the note.

HAVE A JUMBO MORTGAGE HIGHER THAN THE HOUSE IS WORTH?

HAVE A JUMBO MORTGAGE HIGHER THAN THE HOUSE IS WORTH? 

We have a new program that has successfully obtained 

PRINCIPAL REDUCTIONS in the hundreds of thousands of dollars for our clients. 

Imagine owing $500K instead of $1 million? 

Is your house worth less than what you owe? 

There’s a very good chance it is… millions are! 

Have you been making your monthly payments on time and have good credit?

Was the original balance on your mortgage more than $600K? 

Would you like to reduce your monthly payment significantly? 

If you can answer yes to the above questions our service can possibly 

get you “right side up” again! 

Imagine making significantly lower monthly payments and 

enjoy the feeling of having “real equity” in your home again! 

This is all possible within the next 30 to 60 days! 

Can we promise you that?

Of course not, but we can analyze your current situation FREE and see how we might help. 

If we can help, we do not charge any upfront fees and the cost of our service is built into the new loan restructure so 

you don’t have to lay out any fees at all! 

We provide a “completely contingent” note restructure service. 

This is NOT a loan modification service.   

Call NOW

1-888-355-1113

Jumbo Mortgage “Note Restructure Service”

Jumbo Mortgage “Note Restructure Service”

NOW, your Company can eliminate “Upside Down” and “Short Sale” frustrations and increase revenues on residential and commercial properties! 

Do you ever work with homeowners or commercial building owners that…

• • Have jumbo mortgages that are “Upside Down” or “Underwater” preventing the listing and sale? 
• • Are considering a “Short Sale” to sell their property? 

We’re sure you do! There are millions of homes and commercial properties nationwide with jumbo mortgages that are “Upside Down” or “Underwater”.  This situation often prevents listing the property and ultimately selling it. 

Our “Note Restructure Service” can help homeowners and commercial property owners turn their bleak situation into a “Right Side Up” situation in as little as 30 days… without a fee!   

Please understand this is NOT a loan modification. Not even close! 

Benefits to the Realtor: 

• • Opens the door to list and sell the property without a short sale. 
• • Immediately creates “Goodwill” to your Company’s professional reputation in the community. 
• • Increases referrals for your professional service. Imagine how the homeowner will feel about your Company after successfully getting them “right side up”!  
• • Increases closings and revenues significantly

Benefits to the Property Owner:

• • Places the homeowner in a “right side up” position 
• • Creates immediate equity in the property
• • Allows homeowner to list property without need for a short sale 
• • Can provide cash to the homeowner at closing when sold

The Note Restructure Service does not require any upfront fee and upon a successful note restructure there is no bill to pay. If we’re unsuccessful there is NO charge. The property owner has absolutely nothing to lose!

What’s the cost to your Firm to use our service…“ZERO”! That’s right, “ZERO”!

What’s the cost for your customer to use our service…“ZERO”! That’s right, “ZERO”!

It’s an absolute no risk, no cost service that can create a win – win –win result! 

We make money when we successfully complete a note restructure via the yield spread on the note purchase. The  property owner and your Company will never see a bill from us. 

Upon a successful note restructure the property owner is in a “right side” up position and your Firm can list and sell the property via a normal sale transaction!  

If we’re unsuccessful, the cost is “ZERO”! That’s right, “ZERO”!

We would like to officially offer our service to your Company.  Please contact me ASAP to learn more. We’re ready to immediately start working hard for your customers!

1-888-355-1113

nonagan@tampabay.rr.com