This blog and my life has been dedicated to following what lenders, servicers and our government have done and are doing to assist the millions of Americans that are facing foreclosure as a result of being sold defective credit instruments. AKA subprime and ALT A mortgages.

In my hundreds of hours of research and work, only one agency and person seems to have a “true” grasp of reality and what needs to be done in order to help clean up the mortgage and housing mess.

That agency is the Federal Deposit Corporation (FDIC) and that person is the Chairwoman, Ms. Sheila Bair. Read the rest of this entry »

For millions, the American Dream has become the “American Nightmare”. Many people have lost their jobs, their mortgages have become cancerous and they can no longer pay the loan on their overvalued homes.

The social impact of these foreclosures is reaching every “dark” nook and cranny in almost every city in the country. Homelessness, domestic abuse, crime, violence and instability are rising in many communities as hundreds of thousands of homes go on the foreclosure auction block.

This is all happening in a country where if a child eats a hamburger and gets sick, there is a nationwide recall of the tainted and toxic meat and the company that sold this beef is put out of business. This is from the same country where people are literally dying from these toxic mortgages and millions more are being kicked out of their homes and not one bank has been held accountable for selling such an INCREDIBLY DEFECTIVE AND TOXIC consumer product. Read the rest of this entry »

Kenneth Lay, CEO of Enron is lead in handcuffs after Lay was found guilty on all six counts of conspiracy and fraud by a jury of eight women and four men. In a separate bench trial, Judge Lake ruled Lay was guilty of four counts of fraud and false statements. Will we see similar indictments clouding the major investment banks and lenders anytime soon?

The top 5 investment banks will pay out a record $38 billion in bonuses in 2008 as the housing and mortgage crisis spirals out of control. Only in America will you see corporate executives that are rewarded with millions of dollars for making bad calls, bad deals and then when their employment is discontinued (either by force or by will), they are sent off into a cozy retirement with plush packages and bonus spiffs to last them forever.

Last year, CEOs at the big five investment banks took home the following bonuses: Read the rest of this entry »

The line of eager people was wrapped around the Capitol Hilton in downtown Washington D.C. as my crew and I unloaded our gear out of our taxi. The crowd was thick and deep as a sea of yellow shirts offered smiles and encouragement to the children as they waited patiently with their mothers and fathers. Their curious faces filled with glimmers of hope as they stood in the hot and humid D.C. air.

It was an utterly amazing, but an eerily sad site and I actually have chills as I write this. My words cannot even grasp the true magnitude of what my eyes just have seen and my heart has experienced. All of us were just Read the rest of this entry »

Loan Safe & Moe Bedard in the New York Times By Gretchen Morgenson

DAN A. BAILEY JR. was desperate when he sat down on May 19 to send an e-mail message to his mortgage lender, the Countrywide Financial Corporation, pleading, yet again, for help.

Behind on his payments and fearful of losing his home of 16 years — a 900-square-foot bungalow in Wilmington, N.C. — Mr. Bailey had spent the previous six months unsuccessfully lobbying Countrywide, at the time the nation’s largest home lender and loan servicer. Read the rest of this entry »

Get your gloves on and start training for the fight of your life because foreclosure defense is going to be no easy battle. Make no bones about it, you are definitely fighting against one of the toughest and most powerful opponents in the world.

The banks! Read the rest of this entry »

I have been advising homeowners to do this for the past year online and I even started a company (Loan Safe Solutions) to assist attorneys and homeowners in reviewing their loan documents for legal violations.

Now, it appears that the Illinois attorney general feels that it is a great idea to have your current mortgage examined for federal, state and mortgage fraud violations. Otherwise known as “predatory lending.” Read the rest of this entry »

I am proud to announce that 131 families have received a loan modification, and 131 homes have been saved with our “Not for Profit: forum at LoanSafe.org. 131 people who now have mortgage relief, can focus on living instead of worrying about their loans. Read the rest of this entry »

I have studied and written about the subject of loan modifications probably more than anyone in the world. My studies and writing have opened my eyes to how the loss mitigation process works and what a homeowner needs to do to get a loan modification with their lender or servicer.

What started out has just a blog to help inform and educate consumers, has now given me the insight to see what it is that the homeowner really needs help with in dealing with their toxic and predatory loan. This up close and personal look at what they are facing, has given me the tools and education to start a business that benefits homeowners everywhere and provides a valuable weapon to help combat predatory lending and stop foreclosure.

The new business, Loan Safe Solutions, has found the ”secret key” to obtaining a loan modification. This secret key is called a “forensic loan document review” or ”mortgage audit.”

This service is a very specialized and imperative in identifying if a borrower is a victim of predatory lending. Our team of specially trained experts review all loan documents and perform a thorough investigation for miscalculations and to determine if the loan terms are accurate, truthful, and met the requirements of the applicable federal statutes.

The #1 goal of the mortgage audit is to determine whether there were violations of federal law.

If these violations are found, then the borrower may be eligible for complete relief of the predatory loan or a very favorable loan modification.Complete relief of the preadtory mortgage is called as a loan rescission. Meaning the lender takes back the “predatory loan” and awards or credits back to the borrower all interest made on payments thus far, loan origination fees, all applicable lenders fees, penalties and attorney’s fees.

However, in most cases the borrower may be uneligible to rescind their loan because they are just too far underwater to obtain a mortgage and their credit rating may have been adversely affected by the loan that has cause them pain and suffering.

The most common option is just to mediate the loan with your lender and fight for an affordable loan modification based on the legal violations on the loan. Everyone wins here.The homeowner has their loan fixed and may have their principle balance may be reduced also. The lender does not lose their shirt because they have mediated the matter without employing their full legal staff on the file and wasting operating expenses. What do we do on a forensic loan document review for attorneys or borrowers? Let me tell you.

 Please join our one of a kind homeowner’s forum to help you stop foreclosure and where you can ask questions and get answers in this unique and interactive community. This forum was created to assist people in an anonymous, yet open question format. Meet other homeowners that are trying to get a loan modification and are going through the same thing. Obtain foreclosure assistance and get the help you need from industry experts and foreclosure defense attorneys.

Tools, Tips, Links & Testimonials to Help Homeowners Stop Foreclosure from www.LoanSafe.org:                                   

• Ways to Save Your Home  
• Foreclosure Process
• Example Harship Letter    Read the rest of this entry »

But the difference between what my mission is and how my blog differs from all the others out there is like night and day. My mission from day one has been to promote loan workouts and loan modifications has the only viable short and long term solution to the mess we are in. It’s the only way to fix this mess before it elads our country into what may become a full blow recession.
 
I’m not here to shoot the shit or report on how evil brokers are or what lender is going out of business. We all know that and there are 1000 other people reporting on it, so I’ll let them do that while I continue on my “ONE MAN MISSION” to spread the word.

Sure I care about mortgage companies going out of business and people getting laid off, but I am here for a purpose and that purpose is to spread the word to the American people, the homeowner who turns to the internet for help. I’m sick of the misinformation people are getting and how unorganized this mortgage mess is.

I know as I study and follow what’s being done in regards to loss mitigation in the mortgage business, the more I realize how poorly ran and organized lenders and servicers are. How poorly treated borrowers are handled when trying to “work” with these so called “home retention” departments. Some have clever names like Countrywide’s HOPE Department or AMC’s Home Save Department or EMC’S Mod Squad. Sure the names sound good but are they misleading and mishandling troubled borrowers? I would say hands down, YES!

I have also mentioned this in other bog posts, “I am not here to BASH and take pot shots at lenders and servicers. (Even though I do that on occasion ) I am here to expose the truth, open people’s eyes and advocate change. If I can help bring this to everyone’s immediate attention, then I have I have completed my mission.”

It’s not rocket science. Sure, I know it’s not as easy as allowing every borrower the right to modify their loan  and apparently there are several accounting ”issues” and “policies” that may have to get revised to make this work. But let’s get them working and start modifying loans for qualified borrowers who can save their homes if someone would just “fix” the loan they are in.

Many of these homeowners were promised by brokers and lenders that they would be able to refinance out of these 2/28 and 3/28 ARM’s or these negative amortization loans that were pushed on unsuspecting homeowners at alarming rates. Brokers and lenders thought that these products would be around forever but obviously that wasn’t the case. Now these homeowners are stuck in toxic ARM’s that are spreading cancer and spilling radiation into communities in almost every neighborhood in America. Ruining lives and depressing local economies.

Lenders and brokers can’t refinance them out of these mortgages because there are no loan products for these borrowers to refinance with as “promised” by these same lenders and brokers. Are we just going to sit here and twiddle our thumbs and just let these foreclosures keep happening to good people? Borrowers that these companies gave a loan to a year or two ago and many have improved their credit profiles and now they turn for help, only to be kicked to the curb by these “HOPE Departments”?

Congress,  I am not talking about a bail out but an “organized” push to “fix” these loans. Help these people who have loans that are adjusting or have adjusted and of course help delinquent borrowers that have suffered hardships and now have the ability to pay. Push lenders and servicers to “fix” what they helped create.

If not then the deeds of their past creations will lead our country into a full blown recession like we have never seen and quite possibly the world.

You can help stop foreclosure and fix this mess. The question is what are you doing besides talking about it? Join my forum/community at LoanSafe.org and unite to join my fight!

If not then you should check out my new forum that’s up and running at LoanSafe.org. A free forum for people facing foreclosure and for non-profit to post information and communicate amongst each other.

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 loan modification  

Ben Bernake, the Federal Reserve Chairman cut 50 basis points (one-half a percentage point) off of its discount rate — the rate it charges banks to borrow federal funds — from 6.25 percent down to 5.75 percent. The Fed has also pumped billions of dollars into the nation’s economy in the past week and is trying to do too little too late.

What good are rate cuts going to do for the tens of thousands of homeowners that are stuck in toxic ARM’s and they can’t refinance? Does the Fed and congress understand that over 80% of the mortgage programs that these same people used to buy their homes or refinance are no longer available? Sure a rate cut will help pump some money into our markets but it will not help the impending explosion that has yet hit our economy as a result of record breaking foreclosures in every state of the nation.

People can’t refinance. Their stuck in these mortgages with no where to turn. The Fed can cut rates down to 1% and what good is that going to do for the thousands of homeowners that can’t qualify for a loan? Nothing! Loan modifications are the only way to help stop foreclosure in our communities

What’s a loan modification? Read through my blog and you’ll find out

www.LoanSafe.org the place where you can share your story and meet other people going through the same thing.

Most everyone wants to save their home and not sell or give up. Yes, people’s homes are investment but they are also our security and our identities. Yes, many homeowners are losing equity and they may owe more than it’s worth but they don’t care. IT’S THEIR HOMES! THEIR CHILDREN’S HOMES!

If you want to save your home and you want to meet other people going through the same thing, then please come join the community, our community at www.LoanSafe.org.

There are no investors, real estate agents or scammers pedaling their services. Why? Because they just give you advice that will help them make money. So, if you want to save your home, then talk with people who want the same thing and get advice from people who don’t stand to gain form your misfortune.

I am currently offering to help homeowners with my foreclosure prevention services for free. All you have to do is share your story on the forum and I will do everything in my power to help you!

I have been asked what do you get out of this? I really don’t know yet. I just know that living by the pay it forward motto is the only way to live and what you give, you get back ten fold. So my intentions are based on helping and not by greed.

Some believe that nice guys finish last. I’m going to prove that is far from the truth!