loanmodificationca.net

FREE Mortgage Loan Audit by Trained Attorney’s.  REDUCE YOUR PAYMENTS,  Interest, or Amount you Owe & KEEP YOUR HOME!! Do You want Competent Attorney’s toHOLD Your Lender(s) Accountable for Things they may have did Wrong in your Loan(s) regardless of if your behind or not? That’s Right You do NOT have to be behind to have your Loan Audited for FREE! Are You Behind in Payments? Going Through Foreclosure? Are Your payments, Interest or Loan Balance toHigh? Do you Owe More than your home is worth?Do You Want to keep your Home, but just can’t afford or want tosee if we can lower yourmonthly payments with no Penalties to you?
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GET RESULTS NOW AND FOR FREE no strings attached.It’s Simple email Mikekench@gmail.com or visit Loan Modification CA .net website
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Many Loans are Full of Mistakes made by lenders or contain Violations which can make your Lender(s), do one or more of the following: Reduce what you Owe, Adjust your Interest Rate or even lower your payments and STOP Foreclosure!And If you are Not behind But want a FreeAudit to see what, if anything, you can do to save money, WE DO THAT ALSO for FREE!  You have nothing to lose, but tons to gain.
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Let the ATTORNEYS Audit your loan documents for Federal & State Violations. You CouldForce the bank’s hand to reduce your Interest rate, Principal Balance, or Payments!
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Don’t let an unemployed ex-mortgage broker or real estate Investor or agent charge you Hundreds or even thousands of dollars up front only to tell you they were unsuccessful.

Has your lender told you that they can not modify your mortgage loan until you are in default?  Don’t let them ruin your credit by falling into this trap..
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Don’t lose your home, fight back and force the bank to Restructure your loan NOW!
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Email Mikekench@gmail.com a National known Loan Modification Educational Specialist

Publisher- Michael Kench Uncategorized Amp, Attorneys, Avoiding Foreclosure, California Homeowners, Competent Attorney, Educational Specialist, Email, Facing Foreclosure, Foreclosure, Foreclosures, Free Mortgage, Interest Rate, Lenders, Loan Balance, Loan Documents, Loan Modification, Loan Mortgage, loan-modification-ca, Loans, Los Angeles, Lower Your Payments, Mortgage Attorney, Mortgage Broker, Mortgage Loan, Notice Of Default, Orange County, Principal Balance, Real Estate Investor, Riverside, San Diego, San Francisco, South Bay, Thousands Of Dollars, Truth In Lending, Truth In Lending Act

Predatory Mortgage Lending-Loan Violations

You may be entitled to restructuring your loan through a loan modification CA homeowners program if your loan

was subject to any of the following:

1. Miscalculation of Interest
2. Inflated Appraisal
3. Illegal Loan Origination Fees
4. Yield Spread Premium
5. Illegal Kickbacks
6. Non-Disclosure of Loan Terms-Federal and State Requirements
7. Discount Points
8. Undisclosed Pre-Payment Penalties
9. Switching Rates between initial Rates and Closing

Any of these violations may fall under the T.I.L.A “Truth In Lending Act” or under the R.E.S.P.A. “Real Estate

Procedures Act.”

A well qualified attorney who specializes in the “Forensic Loan Audit” process would be able to identify and violations in the law and determine if you are entitled to a Loan restructuring under a loan modification CA program and you may entitled to a refund of all points, fees in originating your loan and interest that has been charged on the loan which could result in thousands of dollars in savings to you.  Each case is unique and the outcome may be different, but you do have laws on your side to protect you as a borrower.

It has been estimated that 82% of loans written have some type and form of a violation.  These laws are violated daily by lenders and mortgage brokers who wrote, processed, submitted and approved the loans.

The laws were enacted to protect borrowers but through the greed of some unscrupulous loan agents and brokers have completely disregarded these laws and unfortunately some loan agents and brokers were not aware they were breaking these laws.  Your loan may be an unlawful loan and you may be entitled substantial damages for these violations.  If you suspect you have a violation it would be to your benefit to have a forensic mortgage loan audit on your loan to determine the violations and potential damages or resolutions to a home loan modification CA restructuring program on your loan.  If you are behind in payments, in a notice of default or in foreclosure it would be advisable to check it out. Drop me a post and I will recommend a qualified attorney who will provide a forensic mortgage loan audit free of charge.

Publisher- Michael Kench Uncategorized Array, Avoiding Foreclosure, Borrowers, California Homeowners, Disclosure, Foreclosures, Greed, Home Loan, Home Loan Mortgage, Illegal Kickbacks, Initial Rates, Lenders, Loan Agents, Loan Modification, Loan Origination Fees, Loan Terms, loan-modification-ca, Miscalculation, Mortgage Brokers, Mortgage Lending, Mortgage Loan, Mortgage Loan Audit, Mortgage Loan Modification, Non Disclosure, Notice Of Default, Predatory Loan Violations, Predatory Mortgage, Resolutions, Substantial Damages, Thousands Of Dollars, Truth In Lending, Truth In Lending Act

Home Prices Decline Beyond Expectation including major California Cities
The latest S&P/Case-Shiller index reports huge decline of 19.1% for the first quarter of 2009 home prices.  Foreclosures and short sales have caused real estate prices to decline in all major real estate markets.  This has all lead to 20% decrease in home prices and for most homeowners who are distressed and upside down in their mortgage are trying to make the more difficult choice should I try and modify my mortgage thru a loan modification Ca program, or sell my home thru a short sale or as a last result loose my home to a foreclosure.

The following was the real estate home value decreases for the first quarter of 2009:    
 
S&P/Case-Shiller 20-city home price index, a National real estate barometer recorded the following.
Metro area 1-year change (%)
Phoenix -36.0%
Las Vegas -31.2%
San Francisco -30.1%
Miami -28.7%
Detroit -25.7%
Minneapolis -23.3%
Tampa -22.4%
Los Angeles -22.3%
San Diego -22.0%
Chicago -18.6%
Washington -18.4%
Seattle -16.4%
Atlanta -15.7%
Portland -15.3%
New York -11.8%
Charlotte -9.3%
Cleveland -9.0%
Boston -8.0%
Dallas -5.6%
Denver -5.5%

Composite-20 -18.7%
 
Source:S&P/Case-Shiller

This index dropped 18.7% year-over-year and it fell 18.5% during the last three months of 2008. The index has fallen 32 staright months in a row. 

The big problem now is that Apprasiers have ignored foreclosures in the past when evaluating home prices.  However, when markets with foreclosures out number non foreclosed properties, now the foreclosures have to be used in the market comparable pricing models which lead to more homeowners in need of a lower rate to lower their monthly payment are unable to qualify based on new property valuations which will lead more homeowners to seek a loan modification Ca program on their home loan. 

Cities with the largest year over year declines were Phoenix down 36%, Las Vegas 31.2% and San Francisco down 30.1%.  Phoenix is down 50%, and Las Vegas is down 50% from their August 2006 highs. It was reported from Economist Mark Zandi, the founder of Moody’s Economy.com, he is optimistic that the market will stop falling sometime this summer or fall. “We need to focus on the mortgage modification program,” he said. “If that plan doesn’t work or only works as well as the other modification programs have, we’ve got a problem.”

Source: reported in Money.cnn May 26, 2009

On a further note: Existing Home Sales were reported at 4.68 Million which was actually
higher than industry expectations of 4.65 Million. The unsold inventory of homes rose to a
10.2 month level from April’s reading of 9.6, below the 11
month reading of November 2008. There still is a large supply of
homes above $750,000, which now stands at a 40-month supply. The government has done very little in providing availability of jumbo loans to help these home owners with refinancing programs.

If you are considering a loan modification Ca program on your home mortgage, it would be advisable to start the process now rather than later.  The loan modification process can take on an average of 90 days to complete the process.

Publisher- Michael Kench Uncategorized Area 1, Avoiding Foreclosure, Barometer, California Cities, Case Shiller Index, Decline, Declines, Expectation, Facing Foreclosure, First Quarter, Foreclosed Properties, Foreclosure, Foreclosures, Home Price Index, Home Value, Index Reports, Last Result, Loan Modification, loan-modification-ca, lower payments, Metro Area, Pricing Models, principal-reductions, Property Valuations, short sale, Staright

Foreclosures exceed a 4 year high for the month of April

A recent report was released for the the Top 10 states
Where foreclosure filings are the highest.

The following are Ranked by State Households per foreclosure:

1 Nevada 68
2 Florida 135
3 California 138
4 Arizona 164
5 Idaho 255
6 Utah 312
7 Georgia 344
8 Illinois 384
9 Colorado 387
10 Ohio 411
 
Source:RealtyTrac
 
Just reported by CNNMoney.com — “Foreclosures in April exceeded even March’s blistering pace with a record 342,000 homes receiving notices of default, auction notices or undergoing bank repossessions, according to a regular industry report.”

Industry professionals at realty trac were expecting April to take a nose dive after the exceedingly high foreclosures for the month of March.  That was not the case with Aprils number going off the charts and hitting a 4 year high of foreclosed properties.

It was reported that 1 out of every 374 homes had received a foreclosure filing in the month of April. This was a 32% increase over March filings which became a real shock to everyone following the foreclosure reportings.

As of this date 1.3 million homes have been lost to foreclosure since the market collapsed in the 2007.  It is predicted by Realty Trac that an estimated 3.4 million homes will be lost by the end of this year.  If the foreclosures keep up this pace they will far exceed these estimates.

What can a person do to avoid foreclosure proceedings in the first place?  As soon as you begin having trouble paying your mortage loan you should ontact your lender to work out a payment or a loan modification Ca program to save your home and protect your family.

The top ten states accounted for 75% of the foreclosures.

Filings by state:

California had 95,600 filings the most for a state
California 1 filing for 138 households
Nevada 1 filing for 68 households
Florida 1 filing for 135 households

Top cities

Las Vegas 1 filing for ever 56 homes
Cape Coral-Fort Myers 1 in evry 57 homes

“Five other California metro areas ranked in the top 10: Modesto was fourth, Riverside-San Bernardino fifth, Bakersfield sixth, Vallejo seventh and Stockton eighth. Miami and Orlando rounded out the list. ”

A loan modification Ca program can be the answer to save your home and protect your family.

Publisher- Michael Kench Uncategorized Auction Notices, Avoid Foreclosure, Bank Repossessions, California 1, California Foreclosure, Cape Coral, Evry, Florida 135, Foreclosed Properties, Foreclosure Proceedings, Foreclosures, Fort Myers, Households, Industry Professionals, Loan Modification, loan-modification-ca, Month Of April, Month Of March, Mortage Loan, Nose Dive, Realty Trac, State California