Presentation on theme: "Homeowners and Banks are in Trouble - Opportunity to Save Money. Want to keep their homes. Need help to negotiate affordable mortgage terms. Millions."— Presentation transcript:
Homeowners and Banks are in Trouble - Opportunity to Save Money. Want to keep their homes. Need help to negotiate affordable mortgage terms. Millions of homeowners in trouble, losing their homes
What is Loan Modification? Terms of the loan changed to make it easier to pay Lower the interest rate Stretch out the term (number of payments) Forgive penalties/late fees Reduce the mortgage balance Easier to Pay
What Loans Qualify? Personal residence or rental property Loans that are behind or current Loan in foreclosure or not yet in foreclosure Owe more than your home is worth
Do You Qualify? Credit does not matter Ability to make a payment matters Struggling to make payments is the key NO CREDIT CHECK
What Loans Qualify? ARMs (adjustable rate mortgages) Option/Pic a Payment First, second or third mortgages Loans with legal errors/violations ALL LOANS
Rate Change After Modification - Rate now 5.25% = $552.20/month Saves $306.95/month! 9.75%, $100,000/ 30 Years. $859.15/month Saves $3,683 each year
Invest $3,850 to make: $3,683.00 over 1 year. $36,830.00 over 10 years. $110,490.00 over 30 years!
LJ. Owed $170,000, could not pay! Frustrated with the bank and turned to us for help We got the bank to reduce the mortgage by $37,000 - No payments, no interest for 50 Years! WOW!
Laura J modification Original Payments $1,087 new payment $732 Savings $355/month $37,501.81 no interest no principle balloon due 10/2059
Adam B Investment property Payment cut from $1,472 to $724 per month Interest rate cut from 7.25% to 3.99%
Thom F Payment dropped from $4,400 per month to $3,400 per month
Benefits Cut your interest rate? Some as low as 2%! SAVE THOUSANDS EVERY YEAR Extend the loan term? SAVE $ EVERY MONTH Payment moratorium, forebearance Save Thousands!
Mortgage Elimination We can eliminate second and third mortgages Dont have to file bankruptcy Settle for 10% or less of the balance! No foreclosure, keep your home Legal Magic
Sue the Bank Banks are afraid of litigation When they wont cooperate we twist their arm They dont want to be sued They want to keep their jobs and banks money Dont Get Mad... Get Even!
Terrify the Banker Bank misallocated loan funds Stubbornly refused to fix the error $1,000,000 mistake turned into a judgment $360,000,000 Our Network Attorney... Our Knockout Punch!
Put the Power of the Law On Your Side We know how the bankers think We see proposals from the bank every day We know what we should get for you We are with you, You are not alone We save you big money We work for YOU!
Well Review Your Situation - Free! A No Charge, No Obligation Evaluation Well let you know if we think we can help This is a limited time offer through 10/31/2009 Wed like to help YOU
How to Get Our Help Fill in the form and hand it in One of our attorneys will contact you depending upon which state the property is in
Reasonable Cost There are lawyers charging $12,000 and more! We want to help as many as possible No additional charges or fees, even two mortgages! Only $3,850
Do this now The programs will not last forever We know that banks are motivated to help now, they are over-whelmed and you need a plan You need a professional You need a course of action DO THIS NOW
CLOSING SLIDE 60% of the modifications according to the US Comptroller of the Banks end up back in default. Dont be a statistic, use a law firm to get you the best possible deal.