What is LoanSafe.org?
Since 2008, LoanSafe.org has been America’s #1 mortgage resource for consumers and investors. Our online mortgage forum has helped tens of thousands of borrowers with their mortgage and homeowners avoid foreclosure.
What is a loan modification?
A loan modification changes your current mortgage contract, such as a reduced interest rate or extended loan terms agreed upon by the lender and the homeowner. For homeowners struggling to manage or behind on their current mortgage payments, a loan modification will...
Why did Austin and Catherine McBroom get foreclosed on?
YouTubers Austin and Catherine McBroom Woodland Hills home was recently foreclosed upon by their lender, 5 Arch Funding Corporation, for failing to make payments on their $8.7 million mortgage. The celebrity influencers were served with a notice of default in May...
What is a deed in lieu of foreclosure?
If you are unable to pay your mortgage, refinance, or get a loan modification, you may be able to qualify for what is called a "deed in lieu of foreclosure." A deed in lieu of foreclosure (DIL) is a legal procedure in which you willingly transfer your property's title...
When will the FHA eviction moratorium end?
On July 30, 2021, the Federal Housing Administration (FHA) announced an extension of its moratorium on evictions for foreclosed borrowers and their occupants through September 30, 2021, in response to COVID-19 and the ongoing economic recovery. FHA’s eviction...
How to get money back from a non-compliance?
Write a qualified written request regarding their non-compliance and for this money to be refunded to you promptly. Ask them to provide you with the correct legal name and contact of the responsible party too. The servicer is legally required to respond as long as you appropriately identify the account for the investigation.
Who is the trustee for Wall Street schemes?
Wilmington Savings Fund is the trustee for a lot of these new Wall Street Schemes. They probably purchased your loan for pennies on the dollar, and are hoping they can extract money from it whenever the home is sold, foreclosed, or they get the loan "modified" with payments restarting again. Wilmington is not the investor, but more of a shell bank, to hold all the assets.
What happens when a loan is written off?
When loans are "written off", it simply an accounting term for the bank. They don't plan on getting the money, so its written off. However, there is still a lien that secured the loan and that is where the problems begin. Liens don't simply go away if you don't pay.
Is a charge off the same as a lien release?
DRB- A charge off is not the same as a lien release. The lender can still sell the loan and usually does. However, given the buying and selling of these 2nd mortgages, I would want some proof of ownership - not just a debt collector's calculation of the payoff. That, in itself might be a negotiating point. Also, they need financials to run a loan mod or make an offer. Allegedly. It depends on your level of trust and how badly you need their cooperation. Anything you volunteer may be used against you. So. Too bad they won't accept a short payoff. Also, likely they don't have the note but do you want to ruin your credit in a BK lawsuit to find out? (Otherwise a 50K homestead exemption could cram it down.)
LoanSafe.org Forum & Registration Rules - Please
Please read this section prior to posting or registering as a member. This is a FREE forum for homeowners, attorneys, consumer activists and non-profits to share and learn various methods to stop foreclosure or obtain a loan modification.
Purchase Mortgage Loan Assistance
Looking for a Conventional Home Loan to buy a home or refinance? Learn what conventional mortgage products are the best for you.
Refinance Mortgage Assistance
Looking to refinance your mortgage? Learn what loan products are still available from lenders and what mortgage is best for you.
Loan Modification Assistance
Learn everything you need to know about loan modifications. Can't refinance? Are you in a ARM mortgage that's adjusted or about to? Late on your mortgage? Then this section for you!
Stop Foreclosure and Tell Us Your Story
Trying to stop foreclosure alone can be a painful and a depressing process. This section is where you can unite with other homeowners and let out your questions, frustrations and post your whole story. The more we know, the more we can help you stop foreclosure. No one will be judged or criticized for posting their story.
Homeowners Unite & Fight Network Group
Welcome to the the forum lounge. An area to talk about whatever you'd like to. Our community is comprised of mostly all homeowners and family people that have a lot in common. This isn't just about loans and homes, it's about the people!
