Articles Posted in Mortgage Modification & Litigation

2016 loan mod seminar3I attended the Regs X & Z / Loan Modification Seminar held in Shelby, NC this year with my daughter, Rachel. She is in law school and has heard me talk a lot about the mortgage crisis and how much wrongdoing happens every day to good, hardworking people so she went with me to learn more. It was wonderful! It is very rewarding to save someone’s home and bring to account a mortgage company that seems bent on taking it by almost any means necessary, lining their pockets as they go. 2016 loan mod seminar2

If you are an attorney and you are addressing mortgage fraud, predatory lending practices, and a host of other violations in this arena, attending Max’s boot camps and seminars are a must to keep up to date with the laws and defenses available to aid your client.  If you are reading this and are looking for a lawyer outside of Mississippi to help you with mortgage issues, I encourage you to look at the list of attorneys on his site that have been trained by Max and are keeping up to date.  If you are in Mississippi, call me. I’ll be happy to discuss your situation and the options available to you to get things back under control and save your home. 2016 loan mod seminar4

At least twice a month I receive calls from homeowners who are in the middle of the modification process with their mortgage company and they get notice of a foreclosure.  Over and over they had been told the modification was still being reviewed.  In some cases they were told they’d been approved.  But all of a sudden they find their home is being advertised in the newspaper and a sale date is set at the courthouse. Mortgage companies review loans for modification and try to foreclosure at the same time.  This is known as “dual tracking”.  They don’t stop the foreclosure process when a mortgage is considered for a modification.  If you are in the modification process with your mortgage company you can never assume that it will be approved or they won’t foreclose.  The foreclosure process in Mississippi is quick, so you can’t trust anything they tell you over the phone.  If you become aware your home is in foreclosure, contact our office immediately.  We can stop the foreclosure sale through filing a Chapter 13 bankruptcy and you can still follow-up with a modification, if needed.  You never want to be in a position of trying to get your home back after the foreclosure.  Better to be safe than sorry and stop the foreclosure before it happens.

modification faxes

You’re trying to work through the process of getting a modification of your home loan and you can’t seem to ever get the same person on the phone.  When you talk to one person, they give you different answers, pass you around, or claim the information you provided was to another department so they need you to repeat it.  Maybe they can’t find any record of your information at all.  You’ve faxed the same paperwork multiple times – only for it to “disappear” or to “never have arrived”.  You’ve mailed the information but “a page or two is missing”.  You mail it again and somehow different pages aren’t there now.  Is it just you? NO! Can a huge company be this incompetent? Is it a consipiracy? A stall tactic?

Your mortgage company does not want to give you a modification. It’s “let the games begin” time. It’s not your fault. They simply make more money foreclosing. Don’t believe me? Investors are the ones that own your mortgage.  The mortgage company or mortgage servicer is simply servicing the loan – collecting your payments and passing them on. Let’s say they make $250 a year for doing this.  But if you’re late – hey!  They get late fees, can then tack on assessment fees, attorneys fees, modification screening fees (I said screening – they are not incented to actually give you a modification), foreclosure processing fees, and on and on and on.  These fees that they get to keep can add up to thousands! And oh yeah – they tell you not to pay your normal note while they are screening you for this modification.  Why? Because you will then get farther and farther behind and they will make more and more and more in fees.

There is a way to save your home, regain control of this nightmare, and get back in the driving seat.  Read on.