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| REST Report | Loan Modifications, Stopping Preventable Foreclosure and Scams |
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 The information and tools you need to get through the storm… -Martin Andelman
But you need to know about the “REST Report”.… and you need to know that it is not a scam or a toy… it is the only way… outside a servicer… to determine whether your loan should be modified because the investor will come out ahead as compared with foreclosure…...
Setting aside how to fix, or rather un-thaw the credit markets that would thereby make mortgages more readily available to more people, lets talk about getting your loan modified… homeowners need to start down this path by running what is called a “REST Report”. |
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| Avoid Foreclosure With These 5 Tips |
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 It's no secret that America's housing market is suffering; some neighborhoods are rife with signs pointing out foreclosures and short sales. If you're in danger of losing your home, check out these prevention tips to avoid foreclosure. With just a few tweaks, you may be able to save your home and your credit. |
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| Hardship Letter Suggestions When Seeking a Home Loan Modification or Short Sale |
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 Many a homeowner has been "inspired" to do-it-yourself-dom by a traumatic encounter with a bad contractor (traumatic to the psyche -- or the pocketbook). In the same vein, the spate of loan modification scammers who have taken thousands from already struggling homeowners in return for false promises to fix their broken adjustable rate mortgages (ARMs), get their principal balances slashed and even save long-defaulted, deeply underwater homes from the foreclosure auction block has served as inspiration for many a homeowner to go the loan mod route themselves. |
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| How to avoid loan modification schemers |
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 As homeowners across the state continue to struggle with mortgage payments, chances are there are scammers promising them false financial relief when seeking loan modification. Officials at the California Department of Real Estate - who have handled thousands of loan-modification complaints since late 2008 - have issued an alert about mortgage fraudsters in hopes of deterring more schemes. |
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| Man offered $2 mortgage loan modification |
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 How would you like to have your loan modification to result in a payment reduction of reduced $2 and never know the real reason why? In an article from newsnet5.com titled "Independence Man offered $2 Loan Modification" Mike Elewski said Wells Fargo offered to reduce his monthly mortgage payment. Elewski, lives in Independence, Ohio. |
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| Seven Important Federal Loan Modification Program Facts |
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 Every newspaper, television news outlet and website has reported on loan modifications in one form or another. Some of this reporting has given false information, bad intelligence and an overall frustrating report of the current situation. Between the increased focus on the loan modification industry, President Obama’s FDIC loan modification plan and the countless bank reports on loan modification status, people are overwhelmed with all the information on loan modifications. |
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| Homeowners Are Fighting for Loan Modifications |
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 Since the real estate crisis began two or three years ago, homeowners have been fighting to get loan modifications from banks and lenders. These banks and lenders are becoming increasingly swamped with phone calls, e-mails and other communication. Many of these financial institutions were unprepared for the response to different loan modification programs. Some banks hired many staff members to field the phone calls, but few of these staff members truly understood the loan modification process. Now, homeowners throughout California and the rest of America are fighting to get loan modifications as a relief from their overwhelming mortgages. |
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| Modifications Remain Challenging For Some People |
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 Sheila Durnil has faced many hardships, such as threats of foreclosure, being turned down by banks and being a single mother with two children. Since 2009, Sheila Durnil has worked four jobs. She has been laid off. She has lived on unemployment benefits. She has suffered chronic migraines and been hospitalized for an emergency appendectomy. |
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| I ate drank slept and lived fighting with the bank |
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 "I ate, drank, slept and lived fighting with the bank."
Stories of homeowners who feel mistreated by their banks are commonplace these days. Hundreds of thousands of people are underwater and behind on their mortgages. As they seek loan modifications or other solutions, they tell of hours on hold, never speaking to the same person twice, reams of lost paperwork and rejections for reasons they don't understand. Some homeowners actually do get workable solutions, most commonly loan modifications to reduce their payments. Some outlier cases get even more unusual outcomes. Whether it's getting a foreclosure rescinded or reducing the amount owed on a second loan, the odysseys of people who successfully negotiated with their banks provide tips that may help others in similar situations. |
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| The Apollo Loan Modification including FHA Fannie Mae Wells Fargo and Nationstar |
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 Recent citing have cropped up about a new loan modification offered to certain homeowners who seem to have several things in common. Fannie Mae and possibly Freddie Mac and the Federal Housing Administration, FHA, as well as Wells Fargo and Nationstar have been mentioned as offering the loan modification program. The floor rate for this program is the Freddie Mac Weekly Market Survey Rate published at their website.
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| REST Report | Loan Modifications, Stopping Preventable Foreclosure and Scams |
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| The information and tools you need to get through the storm… -Martin Andelman
But you need to know about the “REST Report”.… and you need to know that it is not a scam or a toy… it is the only way… outside a servicer… to determine whether your loan should be modified because the investor will come out ahead as compared with foreclosure…...
Setting aside how to fix, or rather un-thaw the credit markets that would thereby make mortgages more readily available to more people, lets talk about getting your loan modified… homeowners need to start down this path by running what is called a “REST Report”. |
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| Countdown to March 29 Prepare for a National Call In Day to our 50 state Attorneys General |
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 This week, the state Attorneys General will begin negotiations with the big banks on the terms of the settlement to their fraudulent practices. While the final details will take weeks to hammer out, the opening salvo will determine what stays on – or gets kicked off – the negotiating table. The stakes couldn’t be higher. On Tuesday March 29, thousands of Americans will participate in a nationwide call-in day, demanding that their Attorney General “stand with homeowners, not the big banks.” |
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| Widower with Three Children is Threatened with Foreclosure by Wells Fargo |
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 STATEN ISLAND, N.Y. -- Wells Fargo Home Mortgage declined a widower's mortgage modification on his property issued through the Housing Affordable Modification Program (HAMP), a federal loan modification program designed to help homeowners stave off foreclosure. And, despite repeated efforts, he says he couldn't get a straight answer why. After inquiries from Advance.net this week, Wells Fargo said it's attempting to work things out after finding out that the widower was "assuming" the mortgage debt, and Wells Fargo didn't "realize" it when they initially denied it. |
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