Home Mortgage Protection

Home Mortgage Protection Services


WelcomeTo

OurSeminar

“Today’s Preparation Determines Tomorrow’s

Achievement”




Achievement”


Achievement”



Achievement”



Achievement”AS A HOMEOWNER YOU ARE

ENTITLED TO CERTAIN RIGHTS THAT YOU MAY NOT HAVE BEEN INFORMED

ABOUT!

PROTECT YOUR RIGHTS!



Achievement”



Achievement” About one in eleven homeowners

are facing loan or mortgage problems.

Mortgage foreclosure filings have increased 93% over the last year.

Projections call for 4 million more foreclosure filings in 2009.

About one in eleven homeowners are facing loan or mortgage problems.

Mortgage foreclosure filings have increased 93% over the last year.

Projections call for 4 million more foreclosure filings in 2009.

ACCORDING TO THE NEW YORK TIMES:

Home Mortgage Protection Services “Today’s Preparation

Determines Tomorrow’s Achievement”



2009 – More than 4 million Americans will lose their home this year due to a foreclosure.

Foreclosure does not discriminate. It could happen to anyone in any financial income bracket.

Foreclosure is non-forgiving. However, foreclosure can be prevented

if you act quickly!

2009 – More than 4 million Americans will lose their home this year due to a foreclosure.

Foreclosure does not discriminate. It could happen to anyone in any financial income bracket.

Foreclosure is non-forgiving. However, foreclosure can be prevented

if you act quickly!

FACTS:





Your home has decreased in value.

Your mortgage interest rate is going up.

You owe more than your home is worth.

Your mortgage payment is more than you can afford.

Your home has decreased in value.

Your mortgage interest rate is going up.

You owe more than your home is worth.

Your mortgage payment is more than you can afford.

You are 1, 2, 3 months or more behind in your mortgage payments.

You received a “Notice of Default” from your lender.

You are facing an eminent foreclosure and public sale

You are 1, 2, 3 months or more behind in your mortgage payments.

You received a “Notice of Default” from your lender.

You are facing an eminent foreclosure and public sale

“YES” to any of these questions may qualify you for our Program!

DO ANY OF THE FOLLOWING SOUND FAMILIAR?


Achievement”


Achievement”

This is not a refinance, short sale or loan

modification.

This is not a refinance, short sale or loan

modification.




Achievement”



Achievement”When did you purchase your home?

When did you purchase your home?

• We Perform a forensic analysis of your loan documents.

• If you purchased your home prior to January 2007, more than likely key disclosures are missing.





HOW ARE YOU PROTECTED?

We identify missing disclosures, discrepancies and errors in your loan documents.

File a lawsuit against your lender (where appropriate).

Lawsuit is filed in you name (called “pro-per” in the courts).

A “Lis Pendens” action is filed at the appropriate time.

HOW ARE YOU PROTECTED?

We identify missing disclosures, discrepancies and errors in your loan documents.

File a lawsuit against your lender (where appropriate).

Lawsuit is filed in you name (called “pro-per” in the courts).

A “Lis Pendens” action is filed at the appropriate time.




Determines Tomorrow’s Achievement” What is a Lis Pendens? Means litigation is pending on your

property. (lease pen-dense) n. Latin for "a suit pending," a written notice that a lawsuit has been filed which concerns the title

to real property or some interest in that real property.

Creates a “cloud” on title. Gives you time. Eventually receive a settlement that is

satisfactory to you.

What is a Lis Pendens? Means litigation is pending on your

property. (lease pen-dense) n. Latin for "a suit pending," a written notice that a lawsuit has been filed which concerns the title

to real property or some interest in that real property.

Creates a “cloud” on title. Gives you time. Eventually receive a settlement that is

satisfactory to you.

Home Mortgage Protection Services“Today’s Preparation


Home Mortgage Protection Services“Today’s Preparation


The loan interest rate may be decreased. The interest rate can be changed from an

adjustable to a fixed rate. The period of time the borrower has to pay the

loan back may be lengthened. The loan balance may be reduced or cut in

half. Back Payments can be forgiven. The type of loan can be changed altogether

The loan interest rate may be decreased. The interest rate can be changed from an

adjustable to a fixed rate. The period of time the borrower has to pay the

loan back may be lengthened. The loan balance may be reduced or cut in

half. Back Payments can be forgiven. The type of loan can be changed altogether

YOUR LENDER CAN SETTLE WITH YOU!





Processing Requirements

Submit Income Documentation

Write a hardship letter

Provide Utility Bills, Expense information to

show cash flow


Submit Income Documentation

Write a hardship letter

Provide Utility Bills, Expense information to

show cash flow

Loan Modification

Must submit proof of income, Pay Stubs, Tax

returns, etc.

Hardship letter required to

validate reason why Loan Mod

should be approved

Need to submit Tax returns, Utility Bills, Expense Statements to

show how income is allocated.

Loan Modification

Must submit proof of income, Pay Stubs, Tax

returns, etc.

Hardship letter required to

validate reason why Loan Mod

should be approved

Need to submit Tax returns, Utility Bills, Expense Statements to

show how income is allocated.

HMPS

No Income Documentation Required

No Hardship letter required

No Expense Statements required





Submit Entire File to loan company for processing

Settlement offer sent to borrower

Rental properties submitted to loan company for processing

HiFile Received and

sent to lender for evaluation and approval

Must Accept offer presented, no bargaining power.

Rental Agreements do not qualify for a loan modification

No Detailed file is necessary & No approval is required.

When Settlement offer is finally made, borrower can accept or reject the offer.

Settlement offers can be made on rental propertiesi


Loan Modification HMPS




Determines Tomorrow’s Achievement”Real Estate Foreclosure News

JP Morgan Chase which now owns Washington Mutual, and one of the nations biggest lenders, has embarked on one of the most ambitious efforts to lower mortgage payments and modify loans not only to include the mortgages the bank owns but also to include more than $1 trillion of loans sold to investors. Faced with political pressure and ballooning losses, the banks are racing to modify millions of loans by lowering mortgage payments, reducing mortgage balances and extending loan terms. Faced with mounting lawsuits, banks are trying to keep borrowers in their homes and limit their losses associated with foreclosures in formulating the plan.

It is expected that once the plan is put into action, other banks and lending institutions will follow suit to modify their loans.

Lawsuits prevent lenders from moving forward in modifying these loans. The bank said they want to work with borrowers and believes that it can legally modify a “vast majority” of investor owned mortgages.

JP Morgan also stated that they would rather see banks overhaul the terms of their mortgages rather than see them slide into foreclosure or have a bankruptcy judge reverse the terms.

Reprinted from the Investors Journal, January 2009



Achievement” OPERATIONAL FLOW CHART



Achievement” OPERATIONAL FLOW CHARTBorrower completesApplication, sends app and

& loan docs to HMPS

LenderServed

Submits file to CRO for Evaluation

Completed file sent to CRO to prepare

lawsuit

Lawsuit filed with County.Case Number Assigned

Lawsuit sent to borrower for signature

File Denied

Money Refunded

Lis Pendens





Judicial Foreclosure

Court Intervention Court determines if

complaint is valid Judgment issued for

full amount owed Writ issued

authorizing a sheriffs' sale

Judicial Foreclosure

Court Intervention Court determines if

complaint is valid Judgment issued for

full amount owed Writ issued

authorizing a sheriffs' sale

Non-Judicial Foreclosure

No court intervention Requirements

established by state statutes

NOD mailed to homeowner

Usually 90 days before public sale notice is filed

Non-Judicial Foreclosure

No court intervention Requirements

established by state statutes

NOD mailed to homeowner

Usually 90 days before public sale notice is filed




Determines Tomorrow’s Achievement”The Timeline of EventsThe Timeline of Events

Last Payment Made

NOD is recorded

NOTS is Recorded

Trustee sale by

auction

Late or DelinquentOn monthly mortgage payments

90 to 120 days

Since last mortgage payment was received

by lender

Notice of

Default

Minimum from

recording date of NOD per State

law

Notice of Trustee sale

Minimum from

recording date of NOTS per State law

(non Judicial)

90 days 21 days

The Foreclosure Period

This information is for reference purposes only and is not intended to represent any particular homeowner’s situation.The actual timeline of events will vary according to each homeowner’s circumstances, the objectives of the lender and the state they reside in.




Determines Tomorrow’s Achievement”Here area few examples of some real loan settlements:

Settlement#1Notice of Default filed. Notice of foreclosure filedPMT $3800/mo 11.5 adjustable rateDelinquent amount: $13,500Solution:Foreclosure canceled. Delinquent amount cancelled: New payment $2500/mo @ 7% Rate

Settlement#2Notice of default filed.PMT $2212/mo @ 9 % adjustableDelinquent amount: $30,941Principal Balance: $295,000Solution:Foreclosure cancelled. Delinquent amount reduced to $6000New pmt $1500/mo @6.65% RateNew Principal Balance: $226,740

Settlement#3Notice of default filedPmt 2309/mo @ 8.5% AdjustablePrinciple Balance $323,925Delinquent Amount: $13,426Solution: Foreclosure cancelled, delinquent amount cancelledNew pmt $2040/mo @ 7.95% fixed, New Principal Balance $266,125

Home Mortgage Protection Services “Today’s

Preparation Determines Tomorrow’s

Achievement”

Home Mortgage Protection Services “Today’s

Preparation Determines Tomorrow’s

Achievement”WE STAY WITH YOU!




Determines Tomorrow’s Achievement”Notice of Default




Determines Tomorrow’s Achievement”Unlawful Detainer



Achievement”



Achievement” Don’t try to “go-it” alone We Know your rights as a homeowner Bankruptcy is the last option and should be

avoided if possible Ongoing consultations, answers to questions,

discussions about your case available throughout the process

Don’t try to “go-it” alone We Know your rights as a homeowner Bankruptcy is the last option and should be

avoided if possible Ongoing consultations, answers to questions,

discussions about your case available throughout the process

PROTECT YOUR RIGHTS!PROTECT YOUR HOME!





What about the cost?Researching Loan Documents for Errors and

Omissions $350

Documenting Errors and discrepancies $425

Preparation of Lawsuit $1,300

Preparation of Lis Pendens $750

Court Costs / Filing / Case Number $475





Identifying the Agent of Service $150

Retain Process Server $225

Unlimited Consultations with our Attorney

@200.00/hr for 1 year (50 Hours) $10,000

Responses to your Lender @ $200.00/hr

(40 Hours) $8,000

TOTAL $21,675



Achievement”



Achievement”Lawsuit Preparation and Lis Pendens Preparation $7,500

Filing Fees

(Can vary per county. Price quoted is based on an average amount)

$375-500

Monthly Maintenance Fee

$0 ($1,000 after 6 months)



Achievement”



Achievement”

“Obstacles can't stop you. Problems can't stop you. Most

of all other people can't stop you. Only you can stop

you.”

Jeffrey Gitomer

“Obstacles can't stop you. Problems can't stop you. Most

of all other people can't stop you. Only you can stop

you.”

Jeffrey Gitomer

Home Mortgage Protection

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