About the Author
Michael Nazarinia is Principal of REST Report Matters and covers loan modifications and other alternatives to foreclosure at restreportmatters.com and loanmodhelpcenter.com. He has personally seen over 1000 modifications, 1000 stop sales, several hundred forbearance agreements and 2nd lien settlements since 2008, and speaks to homeowners, advocates and attorneys regularly about their unique cases from both a hard numbers and problem-solving perspective. He has worked on the mathematical analysis of several thousand modifications with attorneys and brokers since 2007 using net present value (NPV) comparative analysis (since 2010) using the R.E.S.T Report Matters Loan Modification Disposition Analysis Platform.
The following is a syndicated alert originally posted at LoanSafe.org by Michael Fisher
Dear reader;
It has come to my attention that we have many permanent modification contracts and agreementdocuments that homeowners have been receiving that include fees that should not be included.
When a loan modification is made permanent, the only additional amount that should be added to the loan balance is the allowable past due escrow advances such as real estate taxes and insurance and any delinquent interest payments.
Any other fees added to the loan balance are not allowed, if the loan amount has increased the principal balance upon written permanent loan modification offer.
We are conducting a FREE review of certain permanent loan modification documents/contracts/agreements offered by certain servicers to homeowners used to make a loan modification permanent to see if we can get your fees refunded to you.
There is NO COST to you, and you would get some money refunded from your mortgage lender or servicer that granted you a permanent loan modification that increased the principal balance of your loan.
Based on a review completed May 2nd, 2012 of 142 permanent loan modification contracts, an average of $26,800 was added to the loan balance on these permanent loan modifications that increased the overall principal balance in the permanent loan modification agreement.
We only want to review permanent loan modification documents from homeowners who have their complete set of permanent loan modification documents from the following servicers
We are focused on any permanent loan modification offers/documents/agreements from servicers below to homeowners at any time since 2007 for
Aurora Loan Servicing,
Litton Loan Servicing,
Ocwen Loan Servicing,
US Bank,
One West Bank,
Indymac,
Nationstar,
Saxon Loan Servicing,
as well as permanent loan modification documents/agreements/contracts that were issued on or after February 9th, 2012 for
Bank of America,
Citi,
JP Morgan Chase,
Wells, and
GMAC
If you have permanent loan modification documents/agreements/contracts from Bank of America, Citi, JP Morgan Chase, Wells Fargo and GMAC from prior to February 9th, 2012, PLEASE DO NOT SEND THESE.
These modifications for these “BIG 5″ made prior to February 9th, 2012 are covered by the Global Attorney General Settlement, and you may have a private right of action in court but we cannot review these agreements due to the settlement.
Please email your permanent loan modification documents to
MjFisherLLC@LoanModHelpCenter.com with a copy of this posting
or fax them to
817-796-2682 with a copy of this posting and then call to confirm receipt at
626-233-6800 or 619.202.0044.
Alternatively, you can mail them to
Michael Fisher
3100 W. Southlake Boulevard,
Suite 110,
Southlake, TX 76092
and include a copy of this post with your mailing.
Please make sure to mention that you are responding to Michael’s LoanModHelpCenter.com request for contracts on this thread.
Please only include permanent loan modification offers/agreements/contracts that you have been offered and try to include every document that was given to you for review prior to it being made permanent.
If you are having trouble getting your loan permanently modified, do not reply on this thread, but post your scenario in the Do You Qualify Thread Here or send a brief email to loansafe@loanmodhelpcenter with the basic details of loan balance, loan servicer, past due, monthly taxes and insurance, home value, and current gross income and when your hardship began and what it consisted of.
Getting assistance on getting your loan modified will carry a service fee that will not be charged in advance of the service and only if HUD counselors, nor your servicer are willing to resolve your issue.
Thank you,
Michael
Thank you,
LoanModHelpCenter.com
loansafe@loanmodhelpcenter.com email
855.678.6690 toll free
619.202.0044 local pacific time zone
760.821.1516 local pacific time zone
We had an ARM w/ IMB. applied for modification and initially received the good news that we had been modified into a fixed rate mortgage. They then asked us to re-sign because the documents were “outdated”. when we received the new documents, lo and behold, we had been refinanced back into an ARM. ??? I sent the information to the feds to protest what I felt was duplicitous actions on the part of IMB, but their response was that they couldn’t help us. I am sending the documents via snail mail. hope you can do something with it. though we are not in danger of foreclosure, I feel safer w/ a fixed rate.
Hey just wanted to give you a quick heads up.
The text in your article seem to be running
off the screen in Internet explorer. I’m not sure if this is a formatting issue or something to do with browser compatibility but I thought I’d post to
let you know. The style and design look great though! Hope you get the issue resolved soon.
Thanks