CNN reports on difficulties of modifying a mortgage yourself

Here's a heartbreaking piece from CNN about two mothers that tried to modify their loans by contacting their bank. We hear this alot and encourage people to use our services to avoid this happening to them. Call me at 877-700-3200 ext 2.

Why Most People Who Owe More Than a Property's Worth Will Still Keep Their Homes

From the Wall Street Journal

What does being "underwater" in your house really mean? Probably not that you're drowning.

The number of underwater homeowners -- those who owe more on their mortgages than their home is now worth -- has been growing sharply since 2006 as real-estate prices have tumbled. By some estimates, between one in six and one in eight homeowners are in that position, most of them people who bought homes in the past few years or who put down small or no down payments.

This worries economists and policy makers, since owing more than your home is worth is the first step toward foreclosure. And it's a concern to the rest of us because foreclosures are roiling the financial markets and, closer to home, they drag down our neighborhoods. (Most people who still have equity, by contrast, would rather sell their houses at a loss than lose what's left of their investment.) Read entire article

Help for People Behind On Their Mortgage Payments

An incredible 10% of homeowners in the USA are behind their mortgage payments. Fortunately there is help for people in the form of loan modification.

What is a loan modification?

A loan modification is a process where the borrower that is behind on their mortgage payments re-negotiates the terms of their mortgage with their existing lender.

I have recently made a career decision to work with a company that negotiates on behalf of the borrower to get them the best terms possible. Since we have a staff of attorneys that have done numerous modifications successfully, we are better equipped than a homeowner at negotiating.

Our goal is to help people stay in their homes.