Category Archives: Mortgage Modification

Mortgage Modification

Myth Busting: Mortgage Modification Edition 

Aside from handling bankruptcy filings, I have been zealously assisting clients with mortgage modifications since the housing market crash of 2008. I can tell with over 95% certainty whether or not you will qualify for a mortgage modification and what the terms of the loan modification will be. My clients have received amazing loan modifications including reductions in principal balances and incredibly low interest rates.

To ensure that you get a great mortgage modification the office uses the latest in detailed forensic analysis. It is a full-time job to know the loan modification underwriting guidelines and to keep up with what you are entitled to pursuant to national mortgage settlements. I am proud to be able to consistently get great mortgage modifications for clients. Recently, a client got over $200,000.00 in principal forgiven and now he is paying back the remainder of his loan with an interest rate around 2.5%. Continue reading

How To Get An Ex‐Spouses Name Off of A Mortgage

DIVORCED?  DIVORCING?
HOW  TO  GET  YOUR  NAME  OR  YOUR  EX’S  NAME  OFF   OF  A HOME  MORTGAGE
by: Jonathan Goldsmith Cohen
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According  to  the  CDC,  the  most  recent  Census  data  from  2011  states  that  45%  of   marriages  in  the  United  States  end  in  divorce.    Today,  December  2,  2014  the  New   York  Times  said  that  this  number  is  holding  steady  or  going  down  slightly,  but  not   increasing.  As  of  April  2014,  Bloomberg  News  reported  that  65%  of  Americans  own   their  own  homes.  When  a  couple  divorces,  especially  in  today’s  real  estate  market   where  they  have  little  equity  or  no  equity  in  their  home,  they  may  be  divorced  but   the  obligation  of  a  home  mortgage  can  live  on  for  far  longer  than  a  marriage,   destroying  your  credit  in  the  process.

Deeds  and  Mortgages.  How  Do  They  Differ?   Continue reading

Modify Your Countrywide Home Mortgage

by: Jonathan Goldsmith Cohen
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I was the victim of a Countrywide loan. I got a bad mortgage. I was caught up with Countrywide. I hear these statements and similar sentiments every day in the office.

As of August 22, 2014, an historical settlement was entered into between Bank of America and the federal government. This settlement provides $7,000,000,000 in relief. Yes, you heard that correctly, 7 Billion Dollars!! to homeowners who had mortgages at anytime with Countrywide. The relief will come in the form of long term mortgage modifications with incredibly low interest rates, some as low as 2% for the life of the loan. In addition, the settlement will provide for principal reductions. A principal reduction reduces the balance of your loan if your home is worth less than the amount of your mortgage.  With a principal reduction, your balance is lowered to the fair market value of your home today. Continue reading