Who qualifies for a Loan Modification?

Right now 30,000,000 Homeowners fit these criteria

A Homeowner:

• Suffering from the reset of an Adjustable Rate Mortgage (ARM)
• Whose ARM has not yet adjusted but will
• Who has a Negative Amortization (Neg Am) loan that has or will reset soon,
  because they have drained the equity from the home.
• Whose home is worth less than what is owed
  
• Who is having difficulty with their mortgage payments because of a hardship
  
• Who has had to care for a family member in a capacity which affected their
  income potential for a period of time
  
• Who has been attempting to sell a home for an extended period of time and
  simply cannot get it sold
  
• Who has rental properties that are sitting vacant because tenants cannot be
  found
  
• Who has been affected by a divorce
  
• Who has been the victim of predatory lending
  
• Who can demonstrate hardship

Predatory Lending Practices in Mortgage Origination include:

• Excessive Points

• Charging fees not allowed or for services not delivered

• Charging more than once for the same service

• Providing a low teaser rate that adjusts to a rate you cannot afford

• Successively refinancing your loan or "flipping"

• Steering you into a loan that is more profitable to the mortgage originator

• Changing the loan terms at closing or "bait and switch"

• Closing in a location where you cannot adequately review the documents

• Serving alcohol prior to closing

• Coaching you to put minimum income or assets on your loan so that you will qualify for a certain amount

• Securing an inflated appraisal

• Receiving a kickback in money or favors from a particular escrow, title, appraiser, or other service provider

• Promising they will refinance your mortgage before your payment resets to a higher amount

• Having you sign blank documents

• Forging documents and signature

• Changing documents after you have signed them

• Loans with prepayment penalties or balloon payments

Predatory Lending Practices in Mortgage Servicing include:

• Not applying payments on time

• Applying payments to "Suspense"

• "Jamming" illegal or improper fees

• Creating an escrow or impounds account not allowed by the documents

• Force placing insurance when you have adequate coverage

• Improperly reporting negative credit history

• Failing to provide you a detailed loan history

• Refusing to return your calls or letters

Mortgage Collection & Foreclosure is the process lenders use when you pay off your loan or when your house is repossessed for non-payment.

Predatory Lending Practices in Mortgage Collection & Foreclosure include:

• Producing a payoff statement that includes improper charges & fees

• Foreclosing in the name of an entity that is not the true owner of the mortgage

• Failing to provide Default Loan Servicing required by all Fannie Mae mortgages

• Failing to follow due process in foreclosure

• Fraud on the court

• Failing to provide copies of all documents and assignments

• Refusing to adequately communicate with you