Loan Modification & Foreclosure Prevention (You DONT Need to Pay)
February 5th, 2010 | by admin |
Loan modifications are done at no charge by HUD approved counselors, there is no need to pay a fee to so called “loan modification experts” that you see on the internet and on YouTube. Don’t fall victim to another scam, contact a HUD approved counserlor if you need a loan modification.
About this video: This community event was put together by the City of San Jose Housing department (Robert Lopez), the Department of Real Estate, HUD approved couselors, non-profit legal aid agencies, SCCAOR members and CAMB approved counselors with the main purpose of assisting homeowners with their loan modifications and to help prevent more foreclosures.
More information at:
sccrealestateuncensored.com/2008/what-is-a-loan-modification/
sccrealestateuncensored.com/2008/loan-modification-foreclosure-prevention-event-in-san-jose/
micasamidinero.com/2008/que-es-una-modificacion-de-prestamo/
micasamidinero.com/2008/modificacion-prestamos-prevencion-foreclosure-san-jose/
Duration : 0:3:11
21 Responses to “Loan Modification & Foreclosure Prevention (You DONT Need to Pay)”
By reversefound on Feb 5, 2010 | Reply
great vids
great vids
By 5yearplan1 on Feb 5, 2010 | Reply
fernfeyes
I agree. …
fernfeyes
I agree. I paid a law firm $3000 up front, gave them all of the paperwork they asked for (3 times) and they kept assigning new people to my account. They sent a letter to my lender telling them to stop calling me. Then I find out today that my house is in default and they intend to foreclose. I called the law firm, they asked for the same paperwork I supplied them with 3 times already. I am ready to walk away, but I want my money back!
By careymahoney1974 on Feb 5, 2010 | Reply
NACA is for the …
NACA is for the Hail Mary pass if you want to save your home, although I don’t like them either.
Better yet, if your house is worth shit, then walk away from it and rent.
The worst thing to do is get attached to a material thing like a home and go broke.
Cash is King. The banks are liars, and you don’t need them.
By 1888junkteam on Feb 5, 2010 | Reply
excellent work!
excellent work!
By blueshooligan on Feb 5, 2010 | Reply
Thats what you get …
Thats what you get for having a country that is run by the banks
By scamfighter100 on Feb 5, 2010 | Reply
Feldman Law Center …
Feldman Law Center Representative
Case Number: 00HM03981
Defendant: Steven Greg Feldman
Demographics:
Eyes: Green
Hair: Brown
Height (ft/in): 6’1″
Weight (lbs): 200
Disposition Date
1 0 05/16/2000 12031(a)(1) PC M Carrying A Loaded Firearm In Vehicle GUILTY 10/26/2000 Pled Guilty 10/26/2000
2 0 05/16/2000 647(b) PC M Engage and agree to engage in prostitution GUILTY 10/26/2000 Pled Guilty 10/26/2000
Case :00HM03981
Orange County Court has this online
By scamfighter100 on Feb 5, 2010 | Reply
No matter what you …
No matter what you do, stay away for Feldman Law Center! Scam and rip-off is what you will encounter. These are real white collar crooks. Steven Craig Feldman lies and cheats. Check him out with the Bar. His records speaks for itself.
By scamfighter100 on Feb 5, 2010 | Reply
Feldman Law Center …
Feldman Law Center being a fraudulent loan modification company.
Steven Craig Feldman is a thief in a suite, aand a dead beat dad.
State Bar of California
Steven Craig Feldman – #103676
Administrative Actions
8/16/2007 Admin Inactive/MCLE noncompliance Not Eligible To Practice Law
9/27/1999 Suspended, failed to pay Bar membr. fees Not Eligible To Practice Law
8/23/1999 Suspended/Child & Fam Supp noncompliance Not Eligible To Practice Law
Bar Number 103676
By scamfighter100 on Feb 5, 2010 | Reply
Feldman Law Center …
Feldman Law Center is a scam. Steven Craig Feldman has a very bad record. Check out his law record with the California State Bar. Also, compair his record to good laywers. His license has been suspended for reasons that demonstrate he is a deadbeat and irresponsible. You can not trust this snake!
By fernfeyes on Feb 5, 2010 | Reply
The same people who …
The same people who got paid commissions to get you into your mess and the same people who now offer the “solution”…and get a commission again. The only way to get housing prices down to realistic levels is to WALK AWAY!
By kantceeme on Feb 5, 2010 | Reply
Don’t go with the …
Don’t go with the HOPE program! You can’t modify your loan for 5 yrs. and any equity has to be split with the Government! You can try to modify on your own with your lender BUT think of who you are working with, your sleeping with the enemy! Look for a company who’s no b.s. and will negotiate for you! They will charge a fee, they are a business, plus think of how much you’ll be saving!
By sickwiththetruth on Feb 5, 2010 | Reply
That is just one …
That is just one case scenario. Not everyone has a house that is that expensive. But if your lender says no, then it is no. They don’t have to grant anyone a modification and if they don’t, the homeowner is out of at least $500. Because that is what the broker will want for the work he/she did or did not do. Unfair either way you look at it.
By MiCasaMiDinero on Feb 5, 2010 | Reply
Honestly speaking, …
Honestly speaking, there are successful loan modifications done. However, as I mentioned it on the article titled “What is a Loan Modification” (find it in my site SCCRealEstateUNCENSORED dotcom), the borrower does need to qualify for the loan modification.
Now if you have a borrower who does not have a job or only makes about $1,000/month and expects a loan modification for a $800,000 loan, then yeah….that would most likely not work and the loan modification would be denied.
By MiCasaMiDinero on Feb 5, 2010 | Reply
There are some ( …
There are some (emphasize the word some) brokers who are doing loan modifications successfully and legally BUT there are far more brokers and companies charging upfront fees illegally.
I know in California and many other states, it is illegal to charge fees upfront for a loan modification unless the Department or Real Estate or another State authority has reviewed their contracts and provided them an official “no objection” letter.
By sickwiththetruth on Feb 5, 2010 | Reply
And be honest, you …
And be honest, you know a lot of lenders will NOT DO A LOAN MODIFICATION no matter who the homeowner gets to represent them. Ultimately the homeowner is out of money. They may not be out of all the money they gave to the broker for the loan modification, but the broker will keep $500 to $1,000 of their money. Is that fair to the struggling homeowner, NO IT ISN’T.
By MiCasaMiDinero on Feb 5, 2010 | Reply
Jason,
FYI this …
Jason,
FYI this event was done with the help of HUD approved counselors and non-profit organizations. It was not done with loan modification companies since the majority of them are operating illegally by charging fees upfront.
The Housing Dept in the City of San Jose is already working on a second event just like the one you saw on this video. And it will take place sometime in the beginning of 2009.
By sickwiththetruth on Feb 5, 2010 | Reply
And the sad part is …
And the sad part is, they don’t tell the homeowner that not every lender will grant the loan modification. Also, the people you are paying the money up front to do a loan modification will only give you a portion of your money back. If they can’t do the loan, they will keep at least $500.00 to $1,000 of your money. All of them charge a different fee to the homeowner. They go by what your monthly mortgage payment is. They are scumbags.
By MiCasaMiDinero on Feb 5, 2010 | Reply
The people on the …
The people on the lender’s side that discourage borrowers from getting a loan modification are inept and inexperienced. In certain cases it is much beneficial for the lender to do a loan mod.
While it is true that lenders do not need to accept loan modification programs, many lenders are getting smarter and negotiating a win-win situation for both parties. However, it is the lender’s ultimate decision to accept or reject the loan modification proposal.
By jasoncbrothers on Feb 5, 2010 | Reply
Why is it that …
Why is it that unemployed loan officers think that anyone needs modification companies? Why would anyone GIVE money to these scumbags? They stole your money the first time, and now they are stealing it again.
By sickwiththetruth on Feb 5, 2010 | Reply
Why is it that …
Why is it that lenders try to discourage borrowers from trying to get a loan modification. Some of the things they tell us are that they don’t have to work with loan modification companies and they they do it as a courtesy but they have the power to say no. Lenders can be so cruel.
By ciro9 on Feb 5, 2010 | Reply
The newly elected …
The newly elected President Barack Obama could enact(once he takes office)to federally mandate long term loan modification’s (interest) on behalf of all Americans with ARM Negative (sub-prime/ deferred interest) mortgage loans (the main reason for foreclosures) at a low interest rate (fixed by the Federal Reserve Bank) for 40 & 50 year’s, depending on income. Leaving it up to the bank’s to do this is akin to putting the fox in the hen house to protect them.