When the real estate market went south, it left a ton of buyers upside down on their loans…owing far more than the home was worth. Fortunately, the ‘Making Homes Affordable Plan’ has addressed that issue to provide relief for homebuyers. That’s the good news.

The bad news is that as a result of that legislation, a lot of fly-by-night companies have sprung up that are ripping homeowners off. When you’re already in trouble with a loan, the last thing you need is more trouble!

So here’s what you should know…

Once your home loan becomes delinquent, it winds up in the Loss Mitigation Department of the bank that lent the money. That department is staffed and run by attorneys who are out for blood. Yours. The only way to deal with them is to get an attorney of your own that’s experienced at home loan out-of-court settlements. Someone who can negotiate a loan modification to cut your payment… or a reduction of your principal balance to bring it in line with your home’s current value. Either way, you need the right representation.

I’ve had great success referring clients to Legal Home Loan Solutions. This attorney-based firm is run by Thomas C. Matevia, a lawyer who has been doing out-of-court settlements on home loans since 1970. He didn’t just spring up with the new legislation. He knows every detail of what has been and is the law surrounding real estate loan issues.

Your lender has attorneys that want to tear you apart. You need an attorney that will put it all back together. Legal Home Loan Solutions is the only firm I trust. Call them at 561-200-3392. Get your payment down and hang onto your home. This guy can financially save your life!

A former client recently reached out to me for help. It seems he had lost my number and had gotten caught up in a refinance sales pitch from another company. “What could be so bad?” he thought. No out of pocket closing costs and a payment that, on the surface, seemed like it would save him money. But, within a year his principal balance had zoomed from $600,000 to $675,000! Read the rest of this entry

Unlike the days of 100% financing with no income or asset verification, there’s no question loans are tougher to get these days. But they’re still available if you can document your income, down payment, closing costs and cash reserves. If you know what to watch for and know how to play the game. Read the rest of this entry