Loan Modification in Rockwood, MI Reduces Homeowner’s Mortgage Payment by 47%!

The short video above is about the loan modification we secured for John in Garden City, Michigan. John had both a first and a second mortgage with Bank of America. We were able to reduce his overall monthly mortgage obligations by 44%!

On Phill’s first mortgage, which was with One West Bank(Indymac), his payment went from $1,700 interest only, to $1,250.60 which saves him over $400 per month. His interest rate also went from 7.5% down to 2.375%!

Now, on Phill’s 2nd mortgage, we took a different approach. Michigan Mortgage Modification was actually able to settle Phill’s $67,000 2nd mortgage for 20% of the balance owed! This saved Phill over $53,000 and the best part is that we were able to work out a payment plan for this settlement which allowed Phill to pay it off over six months instead of coming up with the lump sum.

If you’re interested in persuing a loan modification in Rockwood, Michigan, or any other US city, just give Michigan Mortgage Modification a call at 248-674-6457 and we’ll help you just like we helped Phill. In fact, if you watch the video above you’ll hear exactly how Phill feels about the assistance he received from Michigan Mortgage Modification.

Mortgage Modification in Lake Orion Michigan Saves Jeff Over $1,400 Per Month!

Watch the video above regarding the mortgage modification we secured for Jeff in Lake Orion, Michigan. Jeff’s mortgage was serviced by J.P. Morgan Chase and we were able to reduce his overall monthly mortgage obligations by 62%!

On Jeff’s first mortgage, his payment went from $2,334.14 to $875.68! This huge payment reduction will save Jeff $1,450 every month and his rate dropped from 6.125% down to 2%!

If you’d like to see if you can qualify results like this, give Michigan Mortgage Modification a call at 248-674-6457 and we’ll help you just like we helped Jeff. In fact, if you watch the video above you’ll hear from Jeff and he’ll tell all about his loan modification in Lake Orion, Michigan.

Bloomfield Hills Homeowner Saves $970 Per Month With a Loan Modification!

Watch the video and learn how we helped Bill save over $970 per month with a loan modification. His mortgage was with Bank of America and were able to reduce his previous monthly mortgage payment by 45%!

Bill’s previous payment was $2,134.84 and his new payment after loan modification is $1,160.36 with a rate of 2%!

If you’re considering a loan modification in Bloomfield Hills, Michigan give Michigan Mortgage Modification a call at 248-674-6457 and we’ll offer you the same service we offered Bill. If you haven’t done so already, watch Bill’s video above and learn all about his loan modification.

Think back to when you were a child and imagine how completely traumatic it would have been if your parents had told you that you had to move – and you had to move that day. You wouldn’t have time to say goodbye to your friends, your school, or even pack up all of your belongings. One day you were a kid in your home, your neighborhood, and with your toys – and one day you were forced to leave. If for no reason other than this, it is vital that you do everything within your power to stop mortgage foreclosure before it happens to you.

In reality, most foreclosures don’t have to happen at all. If people would just be brave and tackle the problem of their late payments earlier, most foreclosures could be avoided. If you are already dealing with late notices from your mortgage lender and are avoiding answering the phone or opening the mail, then you need to do all you can now to stop mortgage foreclosure, before you and your family are irreparably affected by this national epidemic.

There are numerous ways to stop mortgage foreclosures, but the longer you wait, the fewer options you actually have. If you even suspect that you might be late with a payment, then you should contact the lender immediately and inquire about loan workout options. If you are already late and trying to catch up, then contact them and ask to make a payment arrangement that will get you out of arrears.

However, it’s very important that you realize your lender does not have your best interest at heart.  Their goal is to collect as much money from you as possible and they will take advantage of your ignorance.  I don’t mean to call you ignorant, but your lack of knowledge on the mortgage bailout programs available along with how these programs work, make it easier for the lender to take advantage of you.

So do yourself a favor and get educated or hire an expert to solve this problem for you. Don’t let your child grow up with the memory of being kicked out of his childhood home – you will regret it forever. Take charge and tackle the issue of your late mortgage payments before they turn into a foreclosure.

You can get educated through my Mortgage Bailout Video Series which is completely free and full of great information you won’t find anywhere else.  Also, if you have any questions feel free to ask them in the comments section below and I’ll answer them as quickly as I can.  Good luck and let me know if I can help.

The real reason that so many foreclosures are happening right now is not because the economy sucked all of the value out of peoples’ homes, or because people are unable to keep up with their mortgages. The real reason why so many people are unable to stop house foreclosures is because they don’t tackle the problem early enough. They wait until it is way too late, and by then, the lenders no longer want to deal with them.

If you are behind on your mortgage, even by a few days, you are in jeopardy of losing your hope. Most people could stop house foreclosures if they would only open their mail and answer their phone when the lender tried to make contact. By facing up to the facts and dealing with the lender, more people might be able to make concessions that would enable them to stay in their homes for longer.

Most lenders really do not want to foreclose on people. Of course, they want their money back, but when they foreclose on a property, they lose a lot of money. It is to their advantage to negotiate with you, regardless of how it may sound on your end. That is why, in many cases, it is best to have someone negotiate on your behalf.  I say this because of two very important reasons.

The first being that when someone else negotiates on your behalf, they don’t take the threat of losing the home quite so personally.  Meaning that they won’t get discouraged or upset when the mortgage servicer attempts to collect past due payments or puts up any resistance.

The second and most important reason is that having a good third party help you will level out the playing field when negotiating.  If you’re a struggling homeowner, there’s a very good chance that you know very little about foreclosure negotiations.  This would put you at a supreme disadvantage when negotiating with your mortgage servicer often leading you to accepting undesirable terms which only put a Band-Aid on a bullet wound.

Homeowners get taken advantage of in this way everyday because they don’t know any better.  Don’t let this happen to you.  If you are trying to stop a house foreclosure, do your research and find someone you trust to help you solve this problem. 

There are online resources that can help you with how to talk to your lender, how to get public assistance with the problem of foreclosure, and how to renegotiate your loan. You may also be interested in talking to a professional mortgage bailout consultant or foreclosure attorney that can give you advice as well. The key is to act promptly and be open to negotiation in order to stop house foreclosures.

If you haven’t checked out my mortgage bailout video series, now would be the time to do so.  These videos are chock full of great information and they are completely free.  Just find the yellow “Free Mortgage Bailout Videos” button at the top of this blog and click on it.  Good luck and let me know if I can help!

This post is about one specific client but I have at least 10 more Chase horror stories that are equally as bad. Anyway, I consider myself very competent and efficient when completing a mortgage bailout for one of my clients.  So much so that when I know I’m right about something I will fight it to the bitter end which often leads to extreme frustration.

I’ve been working with this particular client since July of 2009.  She hired me because she was on a trial payment under Obama’s Making Home Affordable Modification Program, HAMP for short, and she had made six trial payments when initially she was told she only had to make three.  I told her that making six trial payments was normal but then I looked at her paperwork and noticed that Chase was overcharging her by $170 per month.

Her hardship was that her husband had passed away and she was on a fixed income and couldn’t afford her payment.  When you’re on a fixed income, it’s really simple to calculate you’re HAMP payment because all you have to do is multiply that income by 31%.  For some reason when Chase did this simple math, they somehow came up with a number that was $170 higher than it should be…go figure.

Well, my client didn’t know this until I informed her.  We eventually got Chase to adjust her payment and get her a permanent HAMP modification agreement by November.  This agreement stated that she would begin making her new payments in January of this year.  At this time we considered this a big victory because I only had to show Chase how to do there job once.

Now, fast forward to February after my client has made two of her new payments.  She receives another package from Chase containing another HAMP permanent modification agreement with slightly different numbers and a first payment due date of April 1st. 

We immediately call Chase and ask what’s going on?  Several departments and 45 minutes later, we’re told that she needs to follow the most recent agreement that she received.  So, my client has the new agreement notarized and she sent back to chase per their instructions.

Then, in mid march she received the signed, executed copy of the HAMP permanent modification agreement that she signed in November along with a “Notice to Accelerate” because she is behind by one payment, March’s.  This was the payment that the new agreement, along with the Chase representative, said she didn’t have to make.

So since mid-March, I’ve been following up with Chase trying to get to the bottom of what’s going on and this is where my hatred for Chase bank begins.  Apparently, in February, Chase changed their guidelines for third party authorizations, the document that companies like mine must submit to these mortgage servicers to speak on our clients behalf. 

All authorizations must go through their legal department so they can determine the validity of the third party for fraud protection reasons.  Personally, I think this is great that Chase is trying to protect the personal information they collect on their clients.  However, with their new policy in place, I have faxed over 16 third party authorizations on this file since March 15th.

This is where my problems begin.  Chase has like six different departments that work on loan modifications.  My authorization can be found in all departments accept for the Immenent Default department which happens to be the department that I must speak to in order to solve this problem.

So, every-time I call in on this file, which is two times a week at least, I have to first speak with the Way Forward Department, which I think means the “We don’t do shit but read a computer screen department.”  I always start the call telling them that they can’t help me and I need the Immanent Default Department but they always want me to tell the same, long, drawn out story only to confirm what I already told them. 

But, somehow this department can find my authorization which is absolutely brilliant since they can’t help me.  Nothing better than to be authorized to speak to someone that doesn’t know anything…talk about productive!

Anyway, after they realize they can’t help me, they transfer me to the Immanent Default department.  Lucky for me(being sarcastic), it takes at least 30 minutes on hold before I get to connect with Immanent Default. 

Once on the phone with the rep in Immanent Default, I’m told that they can’t find the third party authorization on file and they can’t speak with me.  I inform them that I will conference call my client and she will give me verbal authorization for me to speak on her behalf. 

Mind you, I’ve faxed my authorization 16 times already in the last 50 days but, it is what it is.  So after verifying that it’s ok with my client for them to speak with me, I must now explain what the problem is.  After the explanation, this representative tries to come up with their version of what’s going on but unfortunately they don’t have a clue.

So, now I have to break everything down to them, using the numbers that they already have, and show them how their math doesn’t work and I know what I’m talking about.  This usually takes about 20 minutes and results in them telling me I’m right and that this needs to be fixed.

This is where it gets really exciting!  They put me on hold to try and come up with an answer which, in and of itself, is fine.  However, the wonderful technology that Chase has implemented on their phone systems only allows you to be on hold for a certain period of time before it transfers you to an available representative.

Seems like a rational form of customer service accept it transfers you back to the Way Forward Department in which you start the whole process over again or a recording comes on and says “I’m sorry, your call cannot be completed.  Please try again.”  Either way you end up starting all over again.

I went through this process four time today!  I was on the phone with Chase from 10am until 1pm trying to fix this problem.  half of that time was spent on hold and the other half was spent showing Chase how to do there job and where they screwed up.  The sad part is that I can’t send them a bill on top of the fact that the problem still hasn’t been corrected.

This means that I get to spend more of my time, that I’m already limited on, trying to fix a problem that should never have happened, and trying to do so with the incompetent employees at JP Morgan Chase.  If I didn’t sincerely care about my client’s results, I would have gladly refunded the small amount of money she paid me and given up already.

Fortunately, for our clients, that’s not how we do business.  Like I said before, when I know I’m right, I don’t stop until the bank see’s it my way.  Thanks for listening to me vent and I hope you take this post as a lesson which is don’t give up and know your stuff!

I’ll keep you updated on this client and I can’t wait until we’re done because her testimonial is going to be awesome!  If you want to learn more about this process or find out if you qualify for a mortgage bailout, make sure you sign up for my FREE Mortgage Bailout Video Series.

If there is one thing that is completely traumatizing to families, it is losing their home. To children especially, the thought of quickly moving out of their home, sometimes with nowhere to go, is something that will affect them for the rest of their lives. If you are behind in your mortgage and have already started receiving threatening letters, then you need to do what you can to stop foreclosure now before you don’t have a choice.

There are ways to stop foreclosure now, but you have to act quickly. Do not wait until you get phone calls and letters every day, and certainly don’t wait until you are given a court date. By then, it is much too late to act. If you are even one month behind on your mortgage, you would be well advised to enlist the help of someone right now before the problem quickly snowballs out of your control.

There are numerous resources that can help you when foreclosure is looming, but the closer you get to the actual foreclosure date, the less likely it will be that you can get help, and the more likely it will be that you will be foreclosed on.  If you are already at this point than you really need to seek out some expert advice on how you can stop foreclosure now and remain in your home.

Believe it or not, your mortgage company does not want to own your home contrary to all the nasty phone calls and default letters.  Unfortunately, if you don’t know what you’re talking about when communicating with them, they treat you like a second class citizen.  That’s why it’s so important to seek out a mortgage bailout expert and follow their advice.

But this creates another problem which is how do you know who to trust?  My best advice is to research any person or business you choose through the Better Business Bureau.  If they have a poor rating or they haven’t been in business for more than a year, I would highly caution you against using their services.  Also, google search their name and see if anything negative comes up.

After you’ve done this research ask them if they have any past or present clients you can call about their services.  And if so, do some research on that person after you speak with them to make sure they are real.  This may seem like a lot of additional work but in reality it will only take you 30 minutes and it could save you thousands of dollars.

The last thing I want to caution you against is any company that tries to charge you $1,500 or more up front for this service.  There are no guarantees that you will get a mortgage bailout and it makes no sense for someone who is already struggling to spend that type of money up front.  After all, if you don’t qualify, you’ll need all the money you can come up with to move out of your home.

As you probably already know, I am an expert in mortgage bailouts and I would love to help you in any way I can.  However, I want you to do the same research on me that I suggested that you do for other experts. 

I also want you to be completely educated on the mortgage bailout process so you can stop foreclosure now.  So make sure you sign up for my free mortgage bailout video series and you’ll be well on your way to a successful mortgage bailout.

Most people think that once their mortgage has gone from being late into being a legal case, that they can’t stop it. But, you can stop your foreclosure as long as you act quickly and decidedly. You can’t sit back and wait for the problem to go away because the wheels of justice will turn whether you are reading your mail or answering your phone or not. So, deal with your credit problems early or you may have no other choice.

In order to stop your foreclosure from happening, the first thing you have to do is be a grown up and deal with your problem. Don’t hide from it and don’t pretend that it isn’t happening – those are the two worst things that you could do. Evaluate your financial situation, write it down, and talk to your lender. If your mortgage is with a local bank, then make an appointment to see your banker and explain the problem to them. They may be willing to make a concession or arrange a payment plan for you.

If you are dealing with a larger company that doesn’t have agents in your area, then call them and ask for help. They would rather negotiate with you than have to send you into foreclosure because of the costs involved and the losses that will be incurred on their end. So remember all hope is not lost and the bank does not want to own your home.

However, it’s very important for you to know what your options are when it comes to the mortgage bailout programs available to stop your foreclosure.  You want to make sure that you request the program that will be best for you and your family.  Unfortunately, if you don’t know which program is best for your situation, the bank will stick you into the program that is best for them.

So, depending on your understanding of what’s available, it may be in your best interest to seek out professional help.  While this help will cost you money, it could end up saving you thousands per year for as long as you stay in your home.

Now is the time to take measures to stop your foreclosure from happening to you and your family. Talk to a foreclosure expert like me, talk to your lender, and check out the many online resources that are available. You will find that you have alternatives, but the longer you wait, the fewer alternatives you will have available to you.

Remember to check out my FREE Mortgage Bailout Videos if you haven’t done so already.  I’ve included tons of information you won’t find anywhere else along with some really cool tools you can use to maximize your results.  Just look for the yellow button at the top of this page and click on for your free videos.

If you find yourself facing foreclosure right now, then you are not alone. There are millions of people, just like you, in homes that they can no longer afford in our country. A home that may once have had plenty of equity may be completely upside down and you may be faced with mounting debts that you just can’t tackle. People like you need to find a way to stop foreclosure fast, or you will be in trouble.

The first key to stop foreclosure fast is to not bury your head in the sand. Too many people throw away the bills when they get them, because they just can’t handle the truth of how deeply in debt they really are. But, if you don’t face your creditors, you will be surprised at how quickly the foreclosure process now happens.

The next thing that you absolutely must do is seek help. Most people go directly to their lender to see if there is some way to refinance or adjust the loan. Although it is believed that all of the major banks were given funds to help handle this, few of them do. You may be fighting an uphill battle. So, if the bank won’t talk to you, or you are too late to stop the foreclosure process yourself, then you need help – and don’t be afraid to ask for it.

There are several places that you can go to for help to stop foreclosure fast. Beyond this blog, you can visit the government website www.makinghomeaffordable.gov or check out consumer advocate forums like www.loansafe.org. 

Make sure you check out the free mortgage bailout video series if you haven’t already.  These videos will give you the inside information you need to stop foreclosure fast.

As a mortgage bailout professional, I get to witness and hear about a lot of situations that you as homeowners aren’t privy to. One of the most common and unfortunate situations is when homeowners are denied loan modification for very vague reasons. This happens more often to homeowners that are current with their mortgage payments when they intitially request a loan modification than those that are behind in payments.

And, it just so happens that one mortgage company in particular is responsible for a large portion of this injustice…JP Morgan Chase.

To learn more about this injustice, visit this article written by Paul Kiel, an author for ProPublica.com which reports journalism in the public interest. You can visit this article by clicking on the title, Chase Denied Loan Mods.

The thing that really bother me about this is when you contact JP Morgan Chase, the on-hold recording that you hear warns homeowners of hiring a third party to assist them with their loan modification because Chase is “there to help” for FREE.  They are implying that you will get the same assistance from Chase that a third party would offer you for a fee.  This is a horribly inaccurate statement for two very good reasons;

1. Banks will always do what’s in their best interest and if you review the above article amongst the other resources available on this blog there is more than enough information available to back that up.
2. If you have no idea what mortgage bailout programs are available to you, you will have no idea if the bank is giving you what you deserve.

To make my point perfectly clear, I want to give you two personal examples of what I’m talking about.

The first story is that of Terry Tolar of Interlochen, Michigan. Terry hired us to assist him with his modification because he was a previous mortgage client of ours and he was having trouble getting assistance from Chase.

Terry’s story is very sad as when he initially requested his loan modification with Chase his wife was very ill. Unfortunately, during the process his wife passed away. When this happened we had to update all of his information, including the death of his wife, with Chase.

As we continued to follow up with Chase throughout this long and grueling process, Terry received a denial letter from Chase stating that his loan modification was denied. The reason for denial was that his hardship was not of a “permanent nature!”

So, apparently, Chase is not only one of the largest banks in America, but somehow they’ve developed the technology to resurrect the deceased. Fortunately, Terry had us, you know-one of those third party companies that you should beware of hiring, in his corner to fight his battle for him.

It wasn’t easy, and it took a lot of extra work, but you’ll be happy to hear that Terry Tolar was finally approved for Home Affordable Modification Program. His payment was reduced significantly and I can honestly say that this would never have happened if Terry was on his own.

The next story is that of Glenna Drohn from Howell, Michigan. Glenna’s story is similar to Terry’s as she too lost her spouse. However, that was her main reason for hardship as it happened prior to her requesting the HAMP program.

Glenna was already on Step One of the Home Affordable Modification Program when she contacted my office. She called because she had already made 5 trial payments on a program that supposedly requires only 3 trial payments, yet they still hadn’t completed her modification.  She thought something was fishy so she found us online and gave us a call.

After reviewing her information, the amount of trial payments she had made was the least of my concern. After doing the initial math, I discovered that Chase was actually charging her $200+ more per month than she qualified for. She would have never found this out if she didn’t call me, one of those third party companies that you should be wary of hiring because Chase is there to help for FREE…lol.

Anyway, it took some time, some persistence, and a keen understanding of the guidelines, but we were able to get Glenna the reduced payment she actually qualified for and her  permanent modification in place.

It makes me sick the way they tried to take advantage of Glenna because she is a senior citizen on a fixed income and $200 a month is the difference between  buying real food or eating potatoes and Ramen Noodles.

To make sure this doesn’t happen to you, get your copy of the FREE report “7 Simple Steps to Your Mortgage Bailout” and if you feel like you need more assistance than the report offers visit www.MichiganMortgageModification.com and set an appointment to speak with one of The Mortgage Bailout Guys.