If you know someone who is worried about their mortgage send them here. They have options.

http://www.legaleagleloanmods.com

?

?

If you want to help people save their homes, go here…

https://alm.infusionsoft.com/go/alm1/a1483

?

?

++

?

Hello,

?

MAKE SURE YOU DON’T MISS THIS OPPORTUNITY!

?

THE LOAN MODIFICATION INDUSTRY IS EXPLODING!

LOAN MOD REPS NEEDED ASAP!

Earn $800 – $1000 per client for less than an hour of work!

All cases are processed by one of Accelerated Loan Mod’s 9 Attorney Groups.

Payday is every 2 weeks, not after the case is completed!

High Success Rate

Use this link to see an important Video!

?

http://www.legaleagleloanmod.com

?

We all know that our nation is in big trouble right now.

We have millions upon millions of mortgages that are either in default or headed that way. The actual number is somewhere between 7-9 million mortgages.

?

That means that 7-9 million homes will either need to be sold, foreclosed on, or……… have their loan modified!

?

You thought the Subprime mess was bad? It’s merely a ripple compared to the next wave of defaults that are about to hit!

?

If you are positioned correctly, you will have the ability to help hundreds of homeowners over the next few years.

Of course, you will be compensated nicely in the process as well.?

How about $800-$1000 per case?

?

Use this link below to see a very important video!

?

http://www.legaleagleloanmod.com

?

IF YOU ARE A…..

MORTGAGE BROKER:

You have a database full of leads that need loan mods.

We have many mortgage brokers who simply go back to their old clients and get these messy mortgages fixed. YOU as a mortgage broker will be paid $800 – $1000 for every file you fix.

REAL ESTATE AGENT:

You have clients coming to you all the time saying that they want to keep their house but they can’t afford the new payments… or that their payments will be going up soon and they must sell now because they can’t afford to make those new payments.

INVESTOR:

You, no doubt, have homeowners calling you all the time.

Those homeowners originally wanted to sell, but in today’s market, most now want to keep their home. How are you handling those calls? We have a system that you can tap into that will get you paid $800 – $1000 for every one of those homeowners… talk about turning trash into cash!!!

SOMEONE WHO WANTS TO HELP

No experience necessary!

Take advantage of this marketplace that we’re currently in.?

We have a marketing system, the tools, the training, PLUS the LEADS!? You can simply plug into the system that will get your as many leads as you want. It’s all done for you, simply take the calls.

My point? There are 7-9 million homeowners in need of a loan modification. That number is increasing!

These homeowners need our help.

Use the link below to Watch a recorded webinar to learn about this exciting program.

?

http://www.legaleagleloanmod.com

?

Here are the options….

Banks are being offered incentives to fix the problem, and one of the solutions (usually the best solution for the homeowner) is to modify the loan!

Basically, there are 2 options for a homeowner to do a loan modification.

1. Do it themselves

2. Have an attorney do it for them.

Statistically speaking…

Typical Results of Homeowner Based Loan Mods:

80% end up back in default.

Why is that? Well, remember that the bank is working for…

yep, the bank. They are doing their best to mitigate their loss (that’s why the department that handles loan mods is called the “loss mitigation” department). So they are getting the best terms for the bank, and not the homeowner.

We see the results. 80% of homeowners who do their own loan mod end up back in default. It’s unfortunate!

Typical Results of Attorney Based Loan Mods:

40% end up back in default.

Our system is completely streamlined, which puts our numbers MUCH lower than that! As you can see, the homeowner who does a loan mod through our attorneys has a MUCH better chance of actually KEEPING their home!

I’m sure you’ve figured this out by now. The attorney has the homeowners best interest s in mind, not the banks. They get the loan mods done at terms that best suit the homeowner, not the bank.

Loan mods are absolutely necessary. Not only are they necessary, they are actually critical to the success of a homeowner being about to keep their home. And even more than that, loan mods are critical to the stability of our nation right now. We need to get this mess cleaned up.

The wave of the nation (and it has just begun) is loan modifications.

(ALM) offers that solution to the homeowner.

We are looking for professional entrepreneurs who want to help.?

For the homeowner, if the loan mod doesn’t get done, 100% of the money will be refunded.

Loan mods are the hottest thing in real estate that we will see in our lifetime. You have an opportunity to make a huge difference in the lives of hundreds of people. You also have an opportunity to make a huge financial change in your own life.? I hope you take advantage of it!

?

Let me ask you, what makes you different from the person next to you? Why do some succeed in life and some fail?

Have you ever wondered why one person drives a BMW and somebody else takes the bus?

?

So which are you, the driver of a BMW, or do you take the bus?

If you want to drive the BMW, follow the links below.

?

http://www.legaleagleloanmod.com

?

To your success!

David Riffey

60 Minutes Reporter Scott Pelley story on the coming second wave of mortgage defaults. “Where’s The Bottom?”

“One out of every ten Americans is behind on their mortgage.”

If you think the subprime mortgage foreclosure crisis was bad, wait until the second wave of foreclosures hits the housing market.

Alt A and Option ARM Loans that were originated in 2005-2007 are ready to reset. When the interest rate resets on an ARM, the monthly payment can go from $800 per month to $1,500 per month. This is a ticking time bomb that is now due to go off. Predatory lending practices enticed borrowers into loans with ?teaser rates?. A mortgage that has a teaser rate loan of 1% can go to 9% overnight. Some of the loans were liar loans that the home buyer could not actually afford.

The US mortgage bubble is only halfway through bursting. Things are going to be much worse that was thought.

?

?

?

As scary at this story is – there his hope. There is a company that helps troubled homeowners keep their homes. If you know someone who is worried about paying their mortgage send them to this website:

http://www.legaleagleloanmods.com

There is a free e-book that details options for distressed homeowners.

The US is in a crisis.

You can help.

Help others and make money.

http://www.legaleagleloanmod.com

Fannie, Freddie Defaults Rise as Borrowers Cite Lower Income?

By Dawn Kopecki

April 21 (Bloomberg) – Fannie Mae and Freddie Mac mortgage delinquencies among the most creditworthy homeowners rose 50 percent in a month as borrowers said drops in income or too much debt caused them to fall behind, according to data from federal regulators.

The number of so-called prime borrowers at least 60 days behind on mortgages owned or guaranteed by the companies rose to 743,686 in January, from 497,131 in December, and is almost double the total for October, the Federal Housing Finance Agency said in a report to Congress today.

Of all borrowers who ended up in default, 34 percent told Fannie and Freddie they were earning less money, about 20 percent cited excessive debt as a reason for missing mortgage payments, and 8.1 percent blamed unemployment, FHFA said.

Fannie and Freddie are the largest U.S. mortgage-finance companies, owning or guaranteeing 56 percent of all U.S. home loans. Regulators seized Fannie and Freddie in September and forced out top management after examiners said the companies? capital may be inadequate to weather the worst housing market since the Great Depression.

To contact the reporter on this story: Dawn Kopecki in Washington at dkopecki@bloomberg.net.

Last Updated: April 21, 2009 15:45 EDT

-

Banks aren’t reselling many foreclosed homes

Carolyn Said, Chronicle Staff Writer

Wednesday, April 8, 2009

?A vast “shadow inventory” of foreclosed homes that banks are holding off the market could wreak havoc with the already battered real estate sector, industry observers say.

Lenders nationwide are sitting on hundreds of thousands of foreclosed homes that they have not resold or listed for sale, according to numerous data sources. And foreclosures, which banks unload at fire-sale prices, are a major factor driving home values down.

“We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market,” said Rick Sharga, vice president of RealtyTrac, which compiles nationwide statistics on foreclosures. “California probably represents 80,000 of those homes. It could be disastrous if the banks suddenly flooded the market with those distressed properties. You’d have further depreciation and carnage.”

In a recent study, RealtyTrac compared its database of bank-repossessed homes to MLS listings of for-sale homes in four states, including California. It found a significant disparity – only 30 percent of the foreclosures were listed for sale in the Multiple Listing Service. The remainder is known in the industry as “shadow inventory.”

“There is a real danger that there is much more (foreclosure) inventory than we are measuring,” said Celia Chen, director of housing economics at Moody’s Economy.com in Pennsylvania. “Eventually those homes will have to be dealt with. If they’re all put on the market, that will add more inventory to an already bloated market and drive down home prices even more.”

more than one-third locally

In the Bay Area, a Chronicle analysis of data from San Diego’s MDA DataQuick shows that more than one-third of foreclosures are in shadow territory – that is, they are not registering in county records as having been resold.

For the 26 months from January 2007 through February 2009, banks repossessed 51,602 homes and condos in the nine-county Bay Area, according to DataQuick. Yet in the same period, only 30,823 foreclosures were resold, leaving about 20,000 bank repos unaccounted for.

turnaround usually quick

Realtors say foreclosures generally go on the market a month or two after the bank takes title and then sell fairly quickly, often getting an accepted offer within a week or two of being listed and then closing escrow within 30 days. That means that foreclosures should register as being resold within three months.

But taking the foreclosures in any given month or selection of months and looking at what happened three months later also reveals a big gap between what banks took back and what they resold.

Tom Kelly, a spokesman for banking giant Chase in Chicago, said the bank sells foreclosed homes in a timely fashion.

“We try not to be in the business of owning homes,” he said. “Our goal is to get them back on the market as quickly as possible. We want to maximize what we sell them for and yet do it quickly.”

Kelly was at a loss to explain the shadow inventory phenomenon other than the quantities involved.

“The inventory might be growing because there is just a lot of volume coming in. That would not surprise me,” he said.

Locally, the monthly number of foreclosures has decreased since peaking at 4,321 in August 2007. That has allowed foreclosure resales to start closing the gap.

Most observers say the recent fall-off in foreclosures came because California and many banks implemented foreclosure moratoriums in the fall, not because the problem has diminished.

only 65.5 percent resold

A second DataQuick study of all Bay Area homes repossessed by banks in the 18 months ending January 2009 tracked how many of those homes had resold by mid-March. It found that 65.5 percent had resold. Discovery Bay’s ForeclosureRadar.com compared its database of Bay Area foreclosures to MLS listings for the past 120 days and found that fewer than one-fifth of the foreclosures showed up as for-sale listings.

“Foreclosure numbers are artificially depressed,” said CEO Sean O’Toole. He puts California’s shadow inventory at about 100,000 homes.

So why aren’t banks selling off their foreclosures?

Observers say several factors are at work.

– The “pig in the python”: Digesting all those foreclosures takes awhile. It’s time-consuming to get a home vacant, clean and ready for sale. “The system is overwhelmed by the volume,” Sharga said. “In a normal market, there are 160,000 (foreclosures for sale nationwide) over the course of a year. Right now, there are about 80,000 every month.”

– Accounting sleight-of-hand: Lenders could be deferring sales to put off having to acknowledge the actual extent of their loss. “With banks in the stress they’re in, I don’t think they’re anxious to show losses in assets on their balance sheets,” O’Toole said.

– Slowing the free-fall: Banks might be strategically holding back some foreclosures so prices don’t fall as fast. “They want to be careful about not releasing them too quickly so they don’t drive prices down and hurt the values,” O’Toole said.

Besides the shadow foreclosures, yet another wave of distressed properties is in the pipeline. These are homes with delinquent payments for which the banks appear to be prolonging the foreclosure process. Some of that could be because they’re negotiating with homeowners about loan modifications or other ways to keep them in the home. But banks also could be deliberately foot-dragging for the same three reasons listed above.

“The problem is that no one knows how extensive (the shadow inventory) is,” said Patrick Newport, U.S. economist with the Massachusetts research firm Global Insight. “It’s a wild card. If it’s a really big number, you’ll see prices drop a lot more and deeper problems for the financial system.”

missing foreclosures

Only 65.5 percent of all Bay Area homes repossessed by banks in the 18 months ended January 2009 had been resold by mid-March. This study looked at the same homes over time, not an aggregate of all foreclosures.

Source: MDA DataQuick

E-mail Carolyn Said at csaid@sfchronicle.com.

http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/08/MNL516UG90.DTL

This article appeared on page A – 1 of the San?Francisco?Chronicle

-

Are you wondering if you might be a candidate for loan modification? Many homeowners – and by many, we mean thousands if not millions – are finding that a loan modification is the right solution for a failing mortgage. How do you know if you should pursue a loan modification?

• Been trying to refinance but can’t. Just about everyone that has an adjustable rate mortgage has attempted to refinance. The problem is that most are getting turned down. Ever since the housing market went into steep decline and lenders began collapsing, it has become seemingly impossible to get approved for a new loan using traditional means. However, many of those same homeowners have been able to get their loan modified in a workout agreement with their lender.
• Got laid off from work or suffered some other hardship. Life happens and there’s nothing you can do about it sometimes. Perhaps you got laid off from work. Maybe there was an illness in the family that required monetary support and kept you from working. Car accidents. Injuries. Unexpected events. Market affected your income. They’re all legitimate reasons that can get you behind on a mortgage that you can otherwise afford. Hardships such as these are often accepted by lenders as justification for loan modification.
• Home value has dropped. The market is in decline and home values are falling. In many cases, loan modification may not be an option when you get upside down on your home loan. A lot of people in this situation are better off with a short sale. Still, it is absolutely worth your time to at least free learn your options.
• Simply can’t keep up with the mortgage. In a tough market, many people have seen their income drop substantially through no fault of their own and can’t afford the home they once easily made payments on. You may be able to get a loan modification that makes that home more affordable. If not, again, a short sale is an option as well.

Do you think you need a loan modification? Get in touch with a reputable loan modification specialist that can negotiate on your behalf. You have options, but they only exist if you pursue them. You can get a free evaluation from an attorney team.

Don’t waste any time getting help.