Razones principales para hacer una modificación de prestamos

  • Tiene todavia trabajo estable pero gana menos que antes
  • Cree que puede pagar al banco un pago menor que el que tiene ahora
  • Quiere mantener su casa , porque cree que puede pagar poco a poco
  • Puede empezar a pagar el pago aunque ahora no este pagando
  • Tiene familia y necesita hacer una arreglo con el banco , no quiere perder su casa

Si usted cree que se encuentra en esta situación de arriba pudiera ser efectiva una modificación , y poder salverser de tener que vender su casa en Short Sale o peor de ir a foreclosure o ser su casa reposeida

Las modificaciones de prestamos , son aquellas en el cual su pago es rebajado sustancialmente y usted mantiene la casa , y sigue pagando al banco pero mucho menos

Ejemplo Real¨:  Juan y su familia compraron una casa en el 2004 , por  $450,000 su hipoteca al mes era de  $3800 , pero como le reducieron las horas en el trabajo , no puede pagar  $3,800 al mes ! pero si puede pagar $ 2100 .

Entonces negocio con el banco y pudo reducir su pago a $ 2100 , quedando todos contentos y felices , porque Juan tiene su casa y el banco tiene su pago al mes.

Si desea podemos valorar su Caso urgentemente GRATIS !  VALORE SU CASO , RESPUESTA EN 24 HORAS GRATIS

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*  Cuando compro su casa ?:
*  Por Cuánto dinero compró su casa ?:
*  Cuanto dinero puso de Enganche (Down Payment) ?:
*  Cuanto es el total de su Hipoteca por mes ?:
*  Cuanto dinero hace usted por mes ? declarado:
*  Esta usted trabajando actualmente Estable ?:
*  Cuántos prestamos tiene en su casa ?:

*  Esta retrasado con su pago al banco ?:

    Si esta retrasado , Cuantos meses ?:
    Si esta retrasado , le llego la fecha de la corte ? la primera o la segunda ? Explique detenidamente:
    Si tiene fecha de Corte explique la fecha y si es la primera o Segunda corte:
*  Cuantas personas dependen de Usted ?:
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*  Escriba los nombres de los Bancos o mortgages que le debe la hipoteca:
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modificaciones de prestamos es una solucion valida para los propietarios que ya no pueden afrontar el pago de su casa , y pueden pagar menos pero no tener que ser forzados a Foreclosure

Chicago es una de las areas en la cual se han hecho mas modificaciones de prestamos , tambien en todo illinois

Mortgage modification
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Mortgage modification is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified. 

1 Background
2 Types of modification
3 Scams
4 See also
5 References

In the normal progression of a mortgage, payments of interest and principal are made until the mortgage is paid in full (or paid-off). Typically, until the mortgage is paid, the lender holds a lien on the property and if the borrower sells the property before the mortgage is paid-off, the unpaid balance of the mortgage is remitted to the lender to release the lien. Generally speaking, any change to the mortgage terms is a modification, but as the term is used it refers to a change in terms based upon either the specific inability of the borrower to remain current on payments as stated in the mortgage, or more generally government mandate to lenders. 

Loans Types of modification
Mortgages are modified to the benefit of the borrower in one or more of the following ways:

Reduction in interest rate, or a change from a floating to a fixed rate, or in how the floating rate is computed
Reduction in principal
Reduction in late fees or other penalties
Lengthening of the loan term
Capping the monthly payment to a percentage of household income
The borrower can be current, late, in default, in bankruptcy, or in foreclosure at the time the application for modification is made. The programs available will vary accordingly.

There may be modifications made at the discretion of the lender. The lender is motivated to offer better terms to the borrower because of the expectation that the borrower might be able to afford a lower payment, and that a performing loan (i.e. one in which payments are current) will be more valuable ultimately than the proceeds obtained from a foreclosure sale.

The state and federal government may structure a mortgage modification program as voluntary on the part of the lender, but may provide incentives for the lender to participate. A mandatory mortgage modification program requires the lender to modify mortgages meeting the criteria with respect to the borrower, the property, and the loan payment history.

Loans modification Scams
After the beginning of the mortgage crisis, unscrupulous mortgage professionals began setting up "Foreclosure rescue" companies promising for a large fee to persuade lenders to modify desperate homeowners' mortgages. Nonprofit housing counselors approved by the Department of Housing and Urban Development will help borrowers for free  companies charging a fee are usually invariably scams operating illegally, however many states are enacting legislation which forces loan modification companies to become licensed and bonded to legally remain in business, eliminating many fraudulent operations.[3]

 United States 1930's
During the Great Depression in the United States a number of mortgage modification programs were enacted by the states to limit the economic disruption of foreclosure sales and subsequent homelessness. Because of the shrinkage of the economy many borrowers lost their jobs and income and were unable to maintain their mortgage payments. In 1933, the Minnesota Mortgage Moratorium Act was challenged by a bank which argued before the United States Supreme Court that it was a violation of the contract clause of the Constitution. In Home Building & Loan Association v. Blaisdell the court upheld the law imposing a mandatory mortgage modification. 

United States 2000's
According to the FDIC chairman, Sheila C. Bair, looking back as far as the 1980s, "the FDIC applied workout procedures for troubled loans out of bank failures, modifying loans to make them affordable and to turn nonperforming into performing loans.

The U.S. housing boom of the first half of this decade ended abruptly in 2006. Housing starts, which peaked at more than 2 million units in 2005, have plummeted to just over half that level. Home prices, which were increasing at double-digit rates nationally in 2004 and 2005, are now (in 2006) falling in many areas across the country . As home prices decline, the number of problem mortgages, particularly in sub-prime and Alt-A portfolios, is rising.] As of third quarter 2007, the percentage of sub-prime adjustable-rate mortgages (ARMs) that were seriously delinquent or in foreclosure reached 15.6 percent, more than double the level of a year ago . The deterioration in credit performance began in the industrial Midwest, where economic conditions have been the weakest, but has now (2006-2007) spread to the former boom markets of Florida, California, and other coastal states

Important new about loan modification !!

September 15, 2009
Success Story - Carolyn

Ms. Patmon first sought out the assistance of ACORN Housing on May 8, 2008. At that time, she was six months late on her payments and was scheduled to have a court hearing that would have set a sale date for her home. She had owned her home outright but was convinced to refinance. After the first refinance, she was caught in the vicious cycle of refinancing every two years in order to avoid upcoming interest rate adjustments. Carolyn is disabled and her only income is her monthly disability check. With each refinance her payment had climbed higher to the point where she was only able to make one payment on this loan.

Her loan had recently been assigned to Loan Care Servicing, which is notoriously hard to deal with. A proposal was sent to them on June 2, 2008. This set into motion a 10-month fight during which Carolyn became a active ACORN member appearing in various media outlets, testifying before the Florida House of Representatives and meeting with Governor Charlie Crist.

September 15, 2009
Success Story - Owen

Owen Moore purchased his first home with Washington Mutual in March of 2000 for $89,550. It was a thirty-year conventional mortgage with a fixed interest rate of 9.375%. His principle and interest payments were $744.83. Mr. Moore loved his home and had always made it a priority. Unfortunately, in October of 2006 Mr. Moore was laid off from his job. Mr. Moore wasnt worried though because he had enough savings to be able to make several months mortgage payments while he sought employment. However, finding a job became harder than Mr. Moore thought and in July of 2008 he defaulted on his mortgage.

Even though Mr. Moore had found employment in August of 2008 he was unaware of the help available for homeowners in his situation. Suddenly in March of 2009 he was served papers telling him he had a conciliation conference on April 23rd. On the front of these documents was a paper that said in bold black letters YOU MAY BE ABLE TO GET HELP WITH YOUR MORTGAGE and underneath gave him a hotline number. The hotline gave Mr. Moore Acorn Housings number and he was set up for his first appointment with our agency on April 16th, 2009.

February 18, 2009
Obama Administration Announces Homeowner Affordability and Stability Plan

President Obama formally announced this morning a new $75 billion dollar plan designed to help families prevent foreclosures and stabilize hard-hit communities. The Homeowner Affordability and Stability Plan includes a loan modification program, which provides incentives for lenders to modify the loans of borrowers who are at risk of foreclosure because their incomes are not sufficient to make their mortgage payments. It also includes refinance opportunities for borrowers who are current on their mortgage payments but have been unable to refinance because their homes have decreased in value.

ACORN Housing Corp and other non-profit HUD-certified housing counseling agencies will be helping borrowers access these programs. While the program will not officially go into effect until March 4th 2009, homeowners can get started on the process NOW by filling out an application for assistance from ACORN Housing. The application is available  Calling 888-409-3557.

There is no fee to participate in this new program or to receive counseling from ACORN Housing. Please beware of any companies that charge you money to provide housing counseling or help modifying a delinquent loan, especially any that ask for an upfront fee.

For more information about the Homeowner Affordability and Stability Plan

January 20, 2009
ACORN Housing Corporation Launches New Foreclosure Prevention Website

Acorn Housing announced today the launching of a new website for homeowners needing help saving their homes to apply for foreclosure prevention assistance:  Acorn Housing Home Equity Loss Prevention program (HELP) assists families that are having problems making their mortgage payments by advocating on their behalf with their lender to negotiate an affordable solution. Our trained counselors are experts in foreclosure prevention and can tailor a plan of action aimed at your particular situation. To get help now, click here and fill out an application online. When completed, you can download an authorization form which you need to sign and send back to us along with any requested documents we need to prepare your case. You can also print out a paper copy of the application and send it back or call our HELP hotline for assistance at 1-888-409-3557, Monday-Friday: 8am-8pm CST, and Saturday: 9am-2pm CST.

January 6, 2009
Affordable Paterson, NJ Rentals Available

New Jersey Acorn Housing is pleased to announce that applications are now being accepted for 41 affordable housing rental apartments now under construction at 114 Straight Street. Download the application in English and Espanol

April 9, 2008
AHC builds Affordable new Homes at ACORN Glenn

Texas ACORN Housing is on pace to complete the new ACORN Glenn subdivision in 2009. Twenty-one homeowners have already moved into their new homes and with 6 more new homeowners expected in April, the subdivision is starting to shape up into a vibrant new community.

With the available subsidies, homebuyers have qualified for loans as low as $82,000 and payments as low as $850 per month (including taxes, insurance and HOA fees). The majority of homeowners have loans in the $90,000-99,000 range and monthly payments in the $900 s. Working families with incomes as low as $26,000/year have already purchased homes.

February 25, 2008
ACORN Housing Corporation launches non-profit mortgage brokerage

ACORN Housing Corporation launches non-profit mortgage brokerage with CitiMortgage, Bank of America, First American Title Insurance Company, and Fannie Mae to help low- and moderate-income families find safe, affordable mortgages in Florida

ACORN Housing and CitiMortgage, Bank of America, First American Title Insurance Company, and Fannie Mae announced today the launching of a new non-profit mortgage brokerage called Acorn Housing Affordable Loans, LLC to help qualified borrowers enjoy the benefits of homeownership throughout Florida. Additional offices will be launched in other states in the coming months. The new mortgage brokerage will also help homeowners faced with resetting adjustable rates that may make their current home mortgage payments unaffordable.


Carolyn and Florida Governor Charlie Crist

After another four months of battling with her lender, her case was resolved on April 13, 2009. Her payment was reduced from $925 to $275 with a repayment-to-modification agreement!!