Recent Posts in Loan Modification Category
Posted on Sep 22, 2011 By Jacoby & Jacoby
As it is, mortgages are complicated. They become far more complicated when borrowers fall behind on their payments. Banks routinely transfer the notes underlying a property. Fees and charges stack up, ...
Continue reading "Disorganization or dishonesty? Lenders are making it difficult to get straight answers" »
Posted on Sep 12, 2011 By Jacoby & Jacoby
Many Americans are aware that banks have been less than fair in their handling of foreclosures . They foreclosed when they could have modified. They filed false court documents. Though there were ...
Continue reading "Will the big banks ever be held accountable?" »
Posted on Sep 5, 2011 By Jacoby & Jacoby
Sheila Bair, former chairwoman of the Federal Deposit Insurance Corporation (FDIC) revealed some interesting information and opinions during her exit interview with The New York Times. Bair called ...
Continue reading "Banks Rushing to Foreclosure 99% of the Time" »
Posted on Aug 1, 2011 By Jacoby & Jacoby
With millions of property owners throughout the U.S. defaulting on their mortgages and facing foreclosure , two leading lenders are helping borrowers who are not even in default by easing the terms of ...
Continue reading "Easing terms on at-risk loans - are the big banks finally listening?" »
Posted on Jul 11, 2011 By Jacoby & Jacoby
Has your application for a loan modification been denied or delayed by your lender? It's an unfortunate reality that some homeowners desperately in need of a modification have found themselves ...
Continue reading "Denied and Delayed Loan Modification Applications" »
Posted on Jul 8, 2011 By Jacoby & Jacoby
If you are having trouble keeping up with your mortgage payments, whether due to job loss, an adjustable rate mortgage or other issue, you may be offered a reinstatement plan by the bank. Should you ...
Continue reading "Deciding Whether to Accept a Lender's Offer" »
Posted on Jul 6, 2011 By Jacoby & Jacoby
It can be difficult to immediately know whether a loan modification is right for you. Fortunately, there is a wealth of information available on the internet as well as from professionals in your ...
Continue reading "Helpful Advice about Loan Modifications" »
Posted on Jul 4, 2011 By Jacoby & Jacoby
One of the requirements for most loan modifications is a written explanation of what event or events have caused or will cause the borrower to fall behind on his or her mortgage payments. This ...
Continue reading "Hardship Letters - Applying for a Loan Modification" »
Posted on Jun 30, 2011 By Jacoby & Jacoby
The key factor in filing a successful loan modification application will be convincing the lender that you are suffering from a hardship that will be resolved if your mortgage payments are modified. A ...
Continue reading "Qualifying for Loan Modification: Hardships" »
Posted on Jun 27, 2011 By Jacoby & Jacoby
According to a recent study by the Center for Responsible Lending (CRL), it has been found that banks and other loan servicers often foreclose even though investors have more to gain from loan ...
Continue reading "Loan Modifications Prove More Profitable to Investors than Foreclosure" »
Posted on Jun 20, 2011 By Jacoby & Jacoby
In New Jersey, a class action lawsuit was recently filed against CitiMortgage on behalf of homeowners in the state who were denied mortgage loan modifications . The lawsuit alleged that the lender ...
Continue reading "Class Action Lawsuit Filed Over Loan Modification Denials" »
Posted on Jun 17, 2011 By Jacoby & Jacoby
How can mortgage loan modification help a borrower? It may offer several different options to ease one's financial situation, by: Refinancing your current mortgage Changing the original terms of ...
Continue reading "The Benefits of Loan Modification" »
Posted on Mar 11, 2011 By Long Island Bankruptcy Attorney
As part of the Federal Trade Commission's continuing crackdown on scams that target homeowners behind in their mortgage payments or facing foreclosure , the FTC has charged a national operation with ...
Continue reading "FTC Charges Mortgage Relief Operation with Deceiving Distressed Homeowners" »
Posted on Mar 11, 2011 By Long Island Bankruptcy Lawyer
Federal mortgage modification programs aimed at keeping financially at-risk homeowners from being foreclosed on are instead fueling consumer bankruptcies in Florida, according to several housing ...
Continue reading "Flawed Mortgage Modifications Lead to Bankruptcies" »
Posted on Apr 22, 2010 By Jacoby & Jacoby
Despite receiving lower monthly payments through the government's loan modification program, the number of homeowners who have defaulting on their mortgages nearly doubled last month, according to ...
Continue reading "NY Times Reports a Rise in Defaults in Loan Modification Program" »
Posted on Mar 25, 2010 By Jacoby & Jacoby
Predatory lending is a term that is used to refer to unethical, unfair business practices by certain lenders. In a situation involving predatory lending, a lender may deceive a borrower into agreeing ...
Continue reading "What is Predatory Lending?" »
Posted on Mar 19, 2010 By Jacoby & Jacoby
Loan modifications are meant for people who will never be able to repay or catch up on their mortgage loan, and therefore need long-term help. A forbearance agreement provides relief to people who are ...
Continue reading "What is the Difference Between a Loan Modification and a Forbearance Agreement?" »
Posted on Mar 12, 2010 By Jacoby & Jacoby
A loan modification is an effective way to prevent foreclosure . As soon as you have been approved for a loan modification , all foreclosure proceedings will be suspended. However, not everyone who ...
Continue reading "What Are the Qualifications for a Loan Modification?" »
Posted on Mar 9, 2010 By Jacoby & Jacoby
In a short sale, the lender allows a homeowner to sell his or her property at market value. Although the sale price may be lower than the balance owed on the home, the lender agrees to it because they ...
Continue reading "What is a Short Sale and Who Should Consider One?" »
Posted on Mar 8, 2010 By Jacoby & Jacoby
The foreclosure process beings when: A homeowner misses a payment. After 15 days, the lender or a collections agency is likely to call. The homeowner will also be hit with a penalty fee for not making ...
Continue reading "The Foreclosure Process in New York" »
Posted on Mar 4, 2010 By Jacoby & Jacoby
Before you begin the loan modification process, it's important to find an attorney you can trust to negotiate the terms of your loan and protect your best interest. Although a loan modification is ...
Continue reading "The “Watch Out” Signs for Loan Modifications" »
Posted on Feb 26, 2010 By Jacoby & Jacoby
If you have fallen behind on your mortgage payment, and you do not see any foreseeable way to catch up, a loan modification may be a good option for you. At Jacoby & Jacoby, we have helped ...
Continue reading "Is a Loan Modification Right for Me?" »