Last week, on ArizonaMortgageTeam.com, I talked about Loan Modifications and a company called LoanSafe that I have gotten to know and work with a little. 

This week, the New York Times decided to feature LoanSafe and it's CEO Moe Bedard in a feature story about Loan Modifications -- what they are, who is doing them, etc.

The long and short of the story about loan modifications is that if you are having trouble with your mortgage and are in a situation where refinancing doesn't make sense, you may be able to have your loan modified.

If you think you are candidate to have your loan modified, please let me know and I will put you in touch with the best in the business -- who can have their team of lawyers analyze your situation and let you know if the loan modification process would benefit you.

According to the NYT article, Mr. Bedard claims:
  • His firm charges a flat fee to analyze loans and said that he has found problems in at least 80 percent of the 300 mortgages they have examined so far for clients.
  • Among the problems found were notary problems, Truth-in-Lending-Act (TILA) violations and Real Estate Settlement Procedures Act (RESPA) violations.
  • One common violation occurs when the interest rates or fees change between the time a borrower initially receives a cost estimate on the mortgage and when the borrower actually closes the loan.
Mr. Bedard also claims that his firm has reviewed about 300 loans for people so far and found problems with about EIGHTY PERCENT of them. 

According to Bedard -- "many of the deals that his firm has arranged have initial interest rates in the 3 percent range."

Are you having trouble making your mortgage payment and think you might be a candidate for a loan modification?  Let me know and I will introduce you to the best in the business.