Over the past several months, I have been talking to homeowners who are facing foreclosure and am hearing the same thing over and over again.  Homeowners who are in desperate need of a loan modification or some assistance due to loss of income or disability, etc. have been given the run around by servicing companies.  These servicing  companies do not even own the loan but are just acting as go betweens to collect the payments for the original lender.  For example, FannieMae uses Chase Home Finance LLC to service most of their loans.  If a homeowner defaults on a mortgage payment, Chase contacts the homeowner and initiates foreclosure proceedings.  But the question is “who really owns the loan?”.  Ask your lender to PRODUCE THE NOTE”.  If you are being sued by your lender ask the question “where is the NOTE”.  The video below is a perfect place for homeowners in trouble to start.

Loan modifications are not working out for troubled homeowners the way President Obama intended.  Instead,  servicers are refusing to follow simple and clear cut guidelines that the government has put in place for government backed loan modifications.  For further information or help with saving your home contact me.