Hello!
If you are a homeowner and need to contact Moe or ask him a question about loan modifications, please go to the LoanSafe.org Forum. He can help you over there for free or one of the 16,000 other homeowners will offer you a helping hand. 
If you are in the media and want to ask Moe some questions or to conduct and interview, please feel free to email him at Moe (at) LoanSafe.org.
To contact the law firms or lawyers on this blog, please just call the numbers displayed on the home page here and visit their websites for more information.
Thanks!!
[...] You can email me here Moe at LoanSafe.org or use this contact form [...]
Moe,
I appreciate guys like you who are going to bat for people likeme stuck in pay option arm loans. Thank you for the tips offered through your website. I find them to be very helpful.
Thanks,
Sue Nenadov
You’re welcome Sue!
An informed consumer is an educated consumer. Kudos to you for taking the time to “learn” how to fight these banks.
I am writing you on behalf of an Escondido, California woman who presently has a variable rate first loan with Countrywide, and a second with Key Bank.
She has successfully avoided foreclosure, but has filed a chapter 7 BK, now discharged. Prior to the dismissal, her BK attorney had issued her a statement, allowing her mortgage lender(s) to enter into discussions with her on doing an internal refi.
She is paying negative interest, and is very concerned that she will lose control, unless she obtains a low interest fixed rate loan, which she feels her income may qualify her for.
Can you or another of your colleagues, whom you may recommend, help her renegotiate with Countrywide? We know the gov’t is urging lenders to assist borrowers keep their homes, and some lenders, we hear, are even reducing principals, so this is obviously a good time to at least try to reason with lenders. Please advise.
Thank you
Michael King
Email: mw_king@hotmail.com
(760) 533-1885 Cell
Thank you, guys, you are doing a really great job, educating people and giving us all this information, so so helpful, we will continue staying with you and God Bless You!
would like someone to contact me 760-470-6664 cell or home no is 760-433-3654
I am always reading about the large amount of homes that are being lost here in the US and differant Groups who are working to help people save their homes.I run a cellphone recycling business and I help Groups recycle cellphones to raise funds.I wanted to see if there are any Groups here in the US who are looking for ways to raise funds to run their programs.I would like to help.If you are a Group that helps people save their homes and would like to do a cellphone recycle drive to raise funds for your program please feel free to get in contact with me.I would be glad to help.
Hello,
I would like to get some help with my loan modification efforts with Countrywide I have a 9.8% rate with a $4,000.00 a month payment in Ontario, California
HELP!!!!!!!!!
ITHANK YOU TREVOR MERCHANT
Moe,
Two questions please:
1. How can I find out if a loan modification specialist is legit? My daughter has gotten an unsolicited email from one that would charge $ 3500. up front, but only offered a $ 1000 refund if they couldn’t get the mod. Sounds fishy to me.
2. If the home is worth less than loan amounts, but both first and second are current, what are the odds of getting a loan mod to reduce the interest rate?
Thanks,
jd
Moe,
I just read your May 1, 2008 article on Bank of America and it have me a ray of hope. I would greatly appreciate if you would tell me where to start to get the help I need.
I have a loan which was transferred to Countrywide as the servicer. I am a 67 year old man with diabetes and I just underwent open heart surgery and I am suffering from a long term infection in my blood. My loan recently went to foreclosure, though I have not gotten the papers yet. I have been trying to get Countrywide to help by giving me a forbearance, but they have been very difficult to deal with and they are insisting that they will foreclose on my home and there is nothing they can do about it.
Will it help if I try to contact Bank of America directly? If they have already started all of these new programs, how can I get into one of them so I can save my home? Who should I write to who may be able to help me?
I thank you so much for any help you could give.
Jeff Reisner
Moe,
Good article! Many of these loans were made and “frozen” based on AVM’s and NOT on “appraisals”. Hmmm, I didn’t see anything about AVM’s in the FDIC statututes.
SLB
I am trying to help someone with a loan modification with Chase Mortgage. However because the borrower is not delinquent yet with her mortgage payments, Chase won’t even consider a loan modification. I tried explaining that she will be delinquent soon on her payments and wanted to do a loan modification before her credit is adversely affected. He said to re-finance, but she has negative equity and won’t be able to. How do I get them to work with me to do a loan mod before she’s delinquent? Isn’t this counter-productive for everyone involved? Please help….
I have the exact same problem. I felt like you were writing from my head! Some say you won’t get them to listen until you begin to make late payments. I hope that does not happen. This is my first time to this site. I guess I’ll keep checking back to see if there is a solution to our problem. Good Luck!
I came across this forum while surfing the net for solutions to my problems concerning the bad dealings, and practices with Americas Servicing Company (ASC). I’m getting nowhere fast, and could be in forclosure shortly. Are there any others here that are going through the same as I?
ASC, Wells Fargo, and EMC all seem to be in this together, and also seem to be more interested in getting your home back, than helping you to keep it. Why is that? Are there any class action lawsuits in the making? Is there a way to “Force” these crooks to comply to my request which is a reasonable one? Where is their weakest link?
I’ve read hundreds of horror stories about these financial clowns, and regretfully must admit, I’m one of the many who are about to lose their home. I will leave my cell number, and email address so you can reply directly to me with answers to the above. Thanks.
Contact: Jeff Taylor / San Clemente, CA / 949-395-7376 / classicdad@cox.net
I’m a little confused about all these mortgage modification programs. I have Indymac as my mortgage company, they wouldn’t discuss any payment reduction options with me. I have been in my home for 2 1/2 years, have never paid a day late, but they don’t care. And people need to realize this isn’t the homeowners fault. Yeah there were quite a few people who got in over their heads and have foreclosed. Which in turn mdae my homes value drop over $200,000 in value in less than 6 months. My ARM comes due in about a year, so unless I can come up with the difference I’m upside down, I’ll have to leave. But all these people who sit there and complain that…their tax dollars shouldn’t help other people in our country. Your wrong, now is not the time to act like selfish brats. We didn’t cause this mess, we’re looking for way to keep our homes and NOT make things worse.
Why does it seems as if everyone is trying to blame the demise of the housing market on the underclass people? Lets face it most underclass/middle class people will prefer to keep their homes. I don’t see no one pointing a finger at those individuals who purchase homes only to flip them when the market is doing well. Oops, sorry they got caught with their hands in the cookie jar an now must foreclose on the homes. Thats just how the system works. However, it is these individuals that are getting first priority on the loan modifications while the middle man who wishes to keep his home is offered no assistance at all. Now you explain to me how fair is that?
Me and my family are one of those middle class families who wishes to keep our home but have not received any assistance from the bank. We were always current on our mortgage up until my wife had to have major surgery which put her out of work for 8 weeks back in April and then in August I lost my job. The bank has been informed of our situation but has offered no means of assistance for us. All we’re asking for is to modify the loan to the point so that we can afford to make the payments through this transition.
sincitykim – FDIC is handling the workouts for Indymac. You might talk to someone there, they’ve reported helping over 1,500 homeowners in the first month of the workout.
jmitchell39 – if you have a FHA loan, or other government loan, you can call HUD to get assistance with the medical issues. Once you’re about 4 months late they will work out an agreement whereby you can put the delinquent payments on the end of the loan. The only condition is that you provide documentation that you can afford the payment.
You can look at where the foreclosures have occurred to understand the majority of the problem with the real estate debacle. In those areas of the country that didn’t have highly appreciating values over the past 5 years you aren’t seeing the types of Mortgage Products that seem to be at the root of the problem here. In California, Florida, Nevada, Arizona you saw as much as a 30% increase in value by holding real estate for 6 – 12 months. How they appraised for that much is the big question here? Since an appraisal is based on what a home sold for in the past 6 months, I can’t see how it is even possible to get a 30% increase in value in just a few months, but it did happen. From everything I’ve read the FBI doesn’t have enough employees allocated to this “meltdown” (only 100) to do the job effectively, most of the agents are assigned to Homeland Security, so it will be years before we see the total picture. But, the Pay Option ARMS grew out of a need for “affordable” housing in areas that were “expected” to continue to rise in value, making the average borrower priced out of the market. Although the intent was good, it wasn’t reasonable. Affordable Housing means there should have been houses built in a price range that fit the borrowers needs, not build a mortgage to lower the payments, never accumulating equity, always negative.
There is a lot of finger pointing going on right now, but there is much blame to go around.
1. The borrower should have known they couldn’t afford the payment.
2. The Loan Officer should have explained the documentation better.
3. The Title Company had the opportunity to provide a 3rd party explanation to the borrower, but obviously it failed here also.
4. The Underwriter should have asked more questions, or the product just shouldn’t have been created.
5. Our lawmakers ignored the signs that this could be a potential problem. In FACT you can verify through CSPAN testimony in which they strongly stated there WAS NO PROBLEM with Fannie Mae and Freddie Mac.
6. The paper was then packaged into such complex securities that the servicers and lenders couldn’t find the “powers that be” that would work with the borrower to modify the mortgage. Plus, they downplayed the issues to such an extent that they refused to do a workout with the borrower when it could have made a difference.
7. Government passing a law that starts with the Lenders to stop foreclosures from occurring at the borrower level. I don’t believe this was the appropriate solution, I believe they should have put that money into refinancing mortgages into a special workout pool, with a balloon requiring the loan to be refinanced or the home sold in 5 years. I would be totally surprised if our $700 billion bailout will produce the desired results.
MOE, DO YOU KNOW WHEN THE GENERAL PUPLIC WILL RECIEVE LETTERS OF INTENT TO SUE FEDERAL MOD LOANS, IM IN OREGON AND WAS SCAMED OF 2600.00 DOLLARS. WILL THEY CONTACT ME OR DO YOU HAVE A NUMBER I CAN CALL, HURTING IN OREGON.
A B of A home retention rep. authorized me to make partial payment. I called to request some type of documentation of this authorization and was denied. I spoke with several reps., supervisors, etc. and all refused to fax or email my request. Are they obligated to grant my request?
Moe,
Im behind on my mortgage 2 months and citimortgage is willing to help,(they have been awesome and doing a great job in working with me )
me with the loan mod .but my job has closed down and now Im out of a job,
I paid the first four months no problem and now it is a little harder, should I
tell them I lost my job? I dont want to lose my house. or them to try and short sell my house. any advice is appreciated.
I am doing a short sale for your customer Johnny Nunez loan # 0012280404, I have an offer but I need from you the workout packet (4 pages) by our cusomer fill it out please.
Thanks
Haydee Brito cell (813) 504-7043
I wanted to throw out the idea to everyone losing their homes or in the business that it is very difficult to negotiate a mortgage with a lender on your own and services are needed of a foreclosure consultant. However, there are too many attorneys and companies asking for money upfront to help these people out and not perfoming as promised. This leads to borrowers contacting their lenders on their own, providing them with the financials and praying to god that it works. I own a company(infinity wealth services) that does not ask for one penny until the lender sends the borrower their new loan terms. If you think you might need some help dealing with your bank or you are a professional looking to send your client to someone who you know wont scam them. Refer them to my company. Thanks….
over three weeks more than twice daily I’m trying to reach Holly, Elsa , Jennifer or Bryan Rosenberg at these phone numbers without vail 443 604 9659 – 888 796 0188 – 888 332 0188 – THIS NUMBER IS OUT OF ORDER 760 752 9917 to find out the status of my modification that was submitted in May 09 I was given a case number 0064359 dont know if this nunber is genunin or not based on the feed back I’m getting tells me something is fraudulently wrong with your company before reciving my $3,000.00 a live person snawer the phone now only recording I’m leaving messages no none return my call , I’ll wait until August 19 09 for someone to return my call then will I seek some advice from the Attornry General and my personal Lawyer from prepaid legal, please contac me via e mail or telephone at
Sylvia,
What company are your referring to? I am a blogger and this is my blog, LoanWorkout.org. Maybe I can help you find the right company.
Hello Moe: I am starting a company that will provide florida supreme court certified circuit civil mediators to those parties in foreclosure in an attempt to settle the matter without further litigation. Do you have any ideas on what sites would be the best ones for marketing purposes? Thank you.
I have tried several times to work with Chase on loan modification and each time I be unsuccessful . I have tried with B of A and lost my 350.00. also you refered me to Quicken and lost my 450.00 foor a loan modification. Do you people want me to lose my home and if the president gave you stimulus money too help why haven’t you. What do I need to do to get help from Chase since you hold the loan
Did you receive my comment about what Chase is doing to help home owners with loan modification annd was referred by Chase to Quicken Loans and 450.00 to process the loan and was turned down and back in the same situation. Can you give me any suggesstion.
Are you saying that The Williams Law Center is not legitimate in doing loan audits?
We have been turned down several times on our loan modification application because they say our income is too high! The truth is we have a bad loan that was affordable at first and is now so much more that we are barely able to make the payment and when we make it there is not much else left. Everyone one tells us to default so that the bank will listen but we are afraid to lose our home should that plan not work out so we just struggle through. Our loan is with a private lender so we cannot qualify for the Obama plan since its not with fannie mae or freddie mac. We don’t have any equity and the value has gone down so there is not chance for a refi. I think our only option is to do a forensic audit of our loan docs because i know there are definitely some violations and then go to the bank with the findings. Can you recommend a good company /attorney that can help us do this. We receive a barage of junk mail about loan mods but there are so many scams out there! Help!!
My wife and I are currently in an Owner Financed mortgage for a house in Georgia. We initially purchased the home for$175,000 at 8% interest through the Owner. We have taxes being paid to escrow and our monthly payment is $1414.28 per month. The current balance is $170,000 and we have been paying on the home for 2 and a half years with about 5-6 months remaining until we are required to refinance or face a balloon payment. We also are currently 2 years into a Chapter 13 case and concerned with our ability to refinance. We are currently past due and have been for several months, running in place with payments. We pay, but can’t seem to get current due to late fees and interest. The owner is now charging us daily interest on any past due balance that is held and we are finding ourselves spending every extra money coming in on attempting to catch up the house payment. We have also put alot of money into maintenance on the house, as it was in fair condition upon purchase. Our main concern is that we do not want to sell or move, let alone lose the house and not sure if we qualify for a modification. With our credit being rebuilt and with our two boys who are both under 6 years old in a good school system, what do you recommend doing in order to saving the home and refinancing it into a loan with better terms. I am a career Firefighter and also in the National Guard, so I do have eligibilty for the VA loan. I look forward to speaking with you.
Moe,
My name obviously is David and Im writing you because I found your scam alert website that had a company going by the name of Mod By Lawyers, otherwise known as The Firm, which I can prove is tthe same company. Do I have a a story for you. I was a client of theirs and for over a year the did NOTHING. I went into the office I cant count how many times demanding my money back for lack of results. The VP Dan Rabadi whose card I have would say that there would be no refund and then he would say there would be a refund (which I have a letter stating these facts) only after I threatened to sue him. But just before getting the letter he told me that if I didnt give him 90 more days to work on it that he would just claim me in the bankruptcy he was filing under the old DBA as the Firm. I was able to get my loan modified by MYSELF with no help from The Firm known now as Mod By Lawyers about two weeks from the end of the 90 days. When I told the so called case worker (Ananda) this and that I wanted my money back so told me she would get with Dan (the V/P) and let me know. Well low and behold about a week later I get a letter from his lawyer listing me as one of his creditors in the bankruptcy. This place is a TOTAL scam and I would like to know what steps need to be taken to insure that this place is NEVER able to scam anyone else.
Sincerely
Dave
714-231-9589 cell
I am in middle of Chapter 13. I am now unemployed. My mortgage is due, my bankruptcy payment is due. What are my options? My payments have been made on time for the first half of bankruptcy. My unemployment payments will not begin until week of Decemeber 14. What options do I have at this point?
Thanks.
Bubba
229-343-7198
I tried to register for the free E-Book by joining the news letter but after two attempts I have not gotten an email response as indicated. I think there’s something wrong. Any help?
Thank You
Mark
Hey Moe,
A Fyi! You have a virus attached to webpage & links floating around. Someone tried to get to your site via a link with my name on it and was attacked. I checked to confirm. Indeed there is. Thought you should know.
I registered but the my MSIP blocked the file, which may have risks of virus. Can someone please refer me to a good and honest mortgage modification company in New England? Thank you very much.
I am looking into this now. My blog has always been a big target by scammers and haters who want to take me down. Thanks Lori!
Hi Moe, how do I start a dialogue with you about advertising on your site? Will you please send me a quick email so we can discuss?
Thanks!
Devin
I’m looking for a third party to represent me in the loan modification. Can you recommend anyone to me? Im in Southern California and I’m trying to work with Wells Fargo. My hardship is loss of income due to divorce. I’ve already filed bankruptcy and received the judgement for Chapter 7 in December of 2009. However, my second mortgage wasn’t submitted.
Can a loan modification be done on a coop?
Yes, if everyone in the coop agrees and participates in submitting financials etc. for the loan modification.
We gave $4000 to a referral group in Brentwood last year. Green Credit Solutions was supposed to help us. Nope. Do you think we should file a Small Claims Court case just ‘cuz? No, we don’t expect recovery, but it would be nice to try to nail those crooks somehow!
I am contacting you regarding our loan modification leads of clients who
are searching for loan mod services. You had spoke to one of our
partners in the past looking for leads, are you still interested in loan
mod leads?
In addition, many who are looking for our business credit services are
also looking for loan modification services.
I have a limited number of clients who are searching for loan mods and
these leads have been converting very high with our current partners
whom we outsource to.
I can be reached at the following if you are interested.
Kind regards,
Shane
Dear Moe,
Thank you for creating and running this great site !!
I have a dilemma that I need your expert advise with.
Recently, both my wife and I have had a drastic and permanent reduction in our income which put us in a situation where we can no longer afford our mortgage payment. Fortunately, up to this point we have been able to stay 100% current with all of our payments.
Our current mortgage is with ING Direct and our home is currently underwater by about 30%.
We contacted ING and applied for and received a temporary loan modification. The problem is that the modification is only for one year, then our original loan terms get reinstated.
Since our income situation will no where near improve enough in one year to permanently solve our problem, we will simply have the same issue next year. We explained this to ING and counter-offered for a 5 year workout plan. They simply said no, take the current offer or no deal.
Our question is since our house is so far underwater, is the bank more likely to offer us a better deal if we refuse to accept their current offer and stop making our payments. I know there is no way you can tell us how this will work out, but based on your vast knowledge of loan workouts, what is our best move at this point? Do banks typically understand that in a situation like this that a longer term loan modification is in everyone’s best interest or do the banks act more as a huge bureaucracy and don’t really look at each individual case.
Again, I understand that you can’t predict what will happen or even what is likely to happen, I am just trying get as much good information as possible before we make our decision.
In your experiences, how do the banks typically respond to a reasonable counteroffer?
What is the best direction to go. Is is wise to try to play hardball with the bank??
Thank you very much for your help !!
David
Hello Dave!
The reason they are probably only offering you a year is to see how your current situation pans out. A year will give them and you enough time to see if this plan is doable. If after the year it is not, then I would reapply then.
It is very rare to obtain a loan modification while you are current. You have done this and I would be grateful by taking it for the time being. You then have 12 months to decide the next step and if after 6 or so, you decide that you cannot do it, then be late then and that will show them. You can always reapply in a year or even 6 months if needed be.
I wish you the best Dave!
Attention, NAGANO JAPAN COMPANY LTD is a manufacturing company with its head office in, Hong Kong, with branches all over Asian continent. The management of NAGANO JAPAN COMPANY LTD requires your legal representation for our delinquent customers. We are looking for a reputable attorney/collection manager to represent us in order for us to recover money due to our organization by overseas customers,and as well follow up with these accounts. In order to achieve these objectives a good and reputable firm will be required to handle this service. We understand that a proper agreement must be entered into by both parties.Your consideration of our request is highly anticipated and we look forward to your prompt response. Yours Faithfully,
frank will
Nagano Japan Ltd
HELP!
I’m not sure where to turn next and am hoping you will see my entry and respond! I have had a forensic audit of my 1st and 2nd loans which revealed lots of violations and omissions of consumer disclosures and a host of other stuff, including in the Truth and Lending Act. The weight of the strength of the violations is questionable and the statute of limitations on some things may be expired, but I have had a lawyer(probono) go to court for me and have a temporary restraining order on the foreclosure sale date, which was set originally for September 10th. Now we have second court date for October 3rd and a new foreclosure date of Oct. 8 th. My lawyer says he will take me through the next court date, then he will no longer be involved, because he cannot give me more free time and frankly I think he doesn’t want to mar his reputation- he is usually on the other side of the picture working with large real estate corporations and helping them with foreclosures. My situation is as follows and I will try to make it short: I feel and have been told that my loan is predatory, my house is worth about $279,000 and I owe $320,000 ie. upside down, and terrible interest rates and a balloon payment due next year. My monthly mortgage payment is about $2400.00 a month. I have been a nurse for 33 years, have had many medical problems in the last year and have not worked, have used up my savings and my 401K, and am now diligently looking for a job to suit my current abilities-not on my feet-as I am now walking with a cane. I have been accepted by the Dept. of Vocational Rehab to support and help me find a job and I am now receiving Unemployment. When I first applied for the Mod., I was told that my Unemployment counted as secure income, but now they h ave changed this and will not consider my Unemployment. The only other income I have is my partners disability check towards the mortgage(about $850.00) and my son’s rent to me of $750.00, and lots of credit debt. Should I try to take this lawsuit further? Can you refer me to a lawyer in the Seattle area that can take a look at this for me? My lawyer now does not want to or is not able to advise me further on this matter. I realize I am just a little tiny fish up against a giant Whale and have no $ to secure a lawyer, but I just want to find out if I could possibly have success. All I want is a fair loan modification and possibly a little principal reduction- Foreclosure will cost the company much more than if they work with me and they get to have someone in the house that takes care of it and loves it. Why can’t they see that ? I will have secure job within the next month or so and if they grant the modification, we will have no problem with the mortgage payment, even before I find a good job. Meanwhile, my bank account balance is plummeting, just with the monthly bills(minus the mortgage payment) and my 1987 station wagon is dying and my credit rating is shot all to hell( it was good before all this- about 715). I feel like an ant trying to move a mountain and I might be squished any minute. I am nonetheless trying to stay positive and taking one day at a time. Can you offer some advise, relief or a referral?
12:01 E.T
The President did not tell the truth today in Falls Church Virginia about foreclosures.
Today at Falls Church Virginia our President Barack Obama front of a group of people and national television (CNN live) has made a statement that
“ Hundreds of thousand of people lost their homes “
Our president is either not telling the truth, or unaware that over 2.3 million people already lost their homes to foreclosure.
http://www.youtube.com/watch?v=AVnKGYtD1M8
[...] Moe Bedard of LoanWorkout.org & LoanSafe.org | LoanWorkout.org Our current mortgage is with ING Direct and our home is currently underwater by about 30%. We contacted ING and applied for and received a temporary loan … loanworkout.org/about-us/contact-us/ [...]
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Moe,
I do appreciate your advice. Here’s the latest:
Of the 96 people who have used Home Lease Exchange to try to force their lender to modify 88 found that their lender either cancelled or postponed their pending trustee sale. When asked if the bank postponed or cancelled the sale because of the lease, the homeowner was told “no”. So, we don’t know if the cancellation was as a result of the Home Lease Exchange or simply coincidence. But nevertheless, coincidence or not 91% have found success getting their sale cancelled and those folks are also back in discussions with their lenders who now seem to be more open to modification. We should be getting our first indication of whether trial modifications are being put in place within a week or two.
I doubt if banks will ever acknowledge that Home Lease Exchange created the issue that caused them to cancel the sale. But it doesn’t matter to me if they acknowledge it or not as long as they are now interested in being more reasonable with regard to modifications and keeping people in their homes.
Michael