MAKING HOME AFFORDABLE PLAN LOAN MODIFICATION INFO, WHAT TO EXPECT HOW TO DO IT.

HI,

I AM A LOCAL REALTOR/PARALEGAL. I WORK FOR AN ATTORNEY IN THE SOUTH BAY. WE SPECIALIZE IN LOAN MODS, DEBT SETTLEMENT, SHORT SALES, TAX SETTLEMENT. AND REGULAR PURCHASES AND SALES OF RESIDENTIAL REAL ESTATE.

I HAVE TO COMMENT ON AN APPOINTMENT I HAD YESTERDAY. A PERSON WHO IS IN DEBT AND STRESSED. APPARENTLY THE FIRST PERSON SHE SPOKE WITH REGARDING LOAN MODS AND DEBT SETTLEMENT ALMOS LED HER ASTRAY!!!

WHAT SHE WAS TOLD WAS, "DONT MAKE ANY MORTGAGE PAYMENTS NOR CREDIT CARD PAYMENTS FOR 3 OR 4 MONTHS" WRONG!!! AND CAN BRING ON LIABILITY. CAN THIS PERSON GUARANTEE SHE WILL GET MODIFIED??? WHAT IF SHE DOESNT, SHE IS IN MUCH WORSE OF A SITUATION. IF SOMEONE TELLS YOU NOT TO PAY, OR THEY CAN GUARANTEE A CERTAIN OUTCOME BE CONCERNED!!! WE DO NOT GUARANTEE AN END RESULT, EXCEPT FOR WHAT WE CONTROL AND THAT IS, TO PUT THE PACKAGE TOGETHER IN A WAY THAT MAKES SENSE. TO SHOW YOUR LENDER THAT MODIFYING YOUR LOAN IS A GOOD BUSINESS DECISION FOR ALL INVOLVED. IF EVERYONE STOPS MAKING PAYMENTS THAT WILL LEAD TO MORE UNSTABILITY AND PROBLEMS.

IF YOU ARE IN FINANCIAL TROUBLE, AND NOTICING THAT YOU ARE PAYING BILLS FROM YOUR 401K THEN ITS TIME TO REEVALUATE. YOU MAY BE ABLE TO DO THIS YOURSELF IF YOU NEED HELP IM HAPPY TO HELP OR DO IT FOR YOU.

1) CONTACT YOUR LENDER ASAP, WHEN YOU KNOW YOUR IN TROUBLE.

2) START RECORDING ALL YOUR BILLS AND EVERY PENNY YOU SPEND.

3) TRY TO CUT DOWN ON THINGS THAT ARE NOT ESSENTIAL

4) PAY YOUR HOME AND HOUSE RELATED BILLS BEFORE CREDIT CARDS. CONTACT CREDIT CARD COMPANY WHEN YOU SEE A PROBLEM.

5) SEEK HELP IF YOU NEED IT.

BASICALLY YOU NEED TO LET YOUR LENDER IF YOUR HAVING TROUBLE.

THE MAKING HOME AFFORDABLE PLAN IS FOR OWNER OCCUPIED PEOPLE WHO ARE IN A FINANCIAL HARDSHIP:

EITHER MAKING LESS MONEY, OR THEIR MORTGAGE WENT UP. PAYING BILLS ESSENTIALS ON A CREDIT CARD. ONLY PAYING THE MINIMUMS. TAKING MONEY FORM SAVINGS OR 401K TO COVER BILLS.

WHAT THE PLAN DOES IS AS FOLLOWS:

1)REDUCE YOUR MORTGAGE TO 31% OF INCOME, IF STILL NOT AFFORDABLE REDUCE INTEREST TO 2%, POSSIBLY EXTEND TERM OF LOAN TO 40 YEARS. THEN POSSIBLY REDUCE PRINCIPAL OR FORBEAR PRINCIPAL TO THE END OF THE LOAN.

OUR FIRM CAN HELP WITH YOUR MODIFICATION, BE WARY OF OTHER PEOPLE OR BUSINESS DOING LOAN MODS WHO CLAIM THEY CAN DO THINGS BETTER THAN SOMEONE ELSE IN THE SAME FIELD. DONT GIVE MONEY BEFORE YOUR MODIFIED TO ANY BUSINESS OTHER THAN AN ATTORNEY OR ADVANCED FEE AGREEMENT REALTOR.

ALSO, DONT BELIEVE WHEN A BROKER OR ATTORNEY SAYS THEY HAVE THEIR OWN CONTACT OR SPECIAL PERSON AT THE LENDERS. WE ALL HAVE TO CALL THE SAME NUMBER. THINK ABOUT IT, LOAN MODIFICATION IS REALATIVLY NEW, IF ONE BUSINESS OR PERSON SAYS THEY HAVE HELPED THOUSAND, AND FOR PROOF. ONE MODIFICATION TAKES 21/2 TO 5 MONTHS TO DO THEY WOULD HAVE TO GET 100 CLIENTS PER MONTH FOR OVER A YEAR AND THIS REALLY STARTED ABOUT 1 YEAR AGO. IF IT SOUNDS TO GOOD TO BE TRUE DONT BE A VICTIM.

BEFORE YOU SHORT SALE, GIVE ME A CALL: WE HAVE SOLUTIONS TO YOUR FINANCIAL SITUATION AND MY FIRST GOAL IS TO HELP YOU KEEP YOUR HOME WITH AFFORDABLE PAYMENTS.

JOANNA JENSEN

REALTOR PURCHASES, SALES, DEBT SETTLEMENT, LOAN MODIFICATION

THE BAYARD LAW FIRM

925 699 5041