Don’t let them easely take your house.  Put a fight!

This morning we stopped another foreclosure sale.  Maybe I can help you.  If you are in this situation, keep track of the sale at the trustee’s web site and phone hot line.  If you will get foreclosed next morning, let me know ASAP.  I will take inmediate action.  Be ready to wake up early, be in downtown Portland and 7:30am and ready to rock and roll.  I will take you through the process.  This will be a lot cheaper than paying rent, and you can keep the property a few more weeks.  Basically I will show you how to legally game the system such that you benefit too.  So far, only the banks are benefiting. 

If you are in foreclosure, and about to lose the property, call me a couple of days in advance.  That way we will both be ready when it is time to act.  We can also do this at the last moment if needed. 

Call me at 971-222-3734.  I take this serious urgency seriusly.  If you are absolutely out of time call me right away.  If not, call me during business hours.

I can help you in Mutlnomah, Washington, Clackamas and Washington counties in Oregon.  Only Clark county in Washington.  Sometimes I can do King, Pierce and Snohomish counties in Washington.

Oscar Morante

971-222-3734

info@nwlossmit.com

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OK.  I am not going to beat around the bush.  Banks are more willing to do a loan modification when the mortgage is in default.  That is the truth.  The issue is this:  Should you stop paying in order to get the bank to modify your loan?  Well, that is up to you.  Doing that is full of risks.  It is a bumpy road.  At the end it depends on your specific situation. 

Strategic Default:  This is recently coined term.  I did not invent it.  Basically it means stopping payments in order to make the bank modify.  I am sure that under the right conditions it will work.  If you willing to play hard ball, have a good enough hardship, and are willing to raise the stakes, this may be for you.  Just be ready to let the house be foreclosed or pay back the arrears if things don’t move in your favor.

Slow Death:  This is were the majority of homeowners are at.  They sacrifice everything in order to keep their home.  They use their credit cards to pay expenses, consume their saving and even retirement funds.  At the end, but later, the end up broke and about to be foreclosed anyway.  Not only that.  Very often, in order to save the property, they advance funds to the bank, and get foreclosed a couple of months later anyway.  Let me ask you a question:  Do you prefer to be foreclosed and have money, or be foreclosed and have no money?

If you are having problems with your mortgage, decide what to do quickly.  I know it is easier said than done.  Now you have the facts.  Call me at 971-222-3734.  I will be happy to help you with a loan mod.

Oscar

There is nothing worse than owing money on a mortgage and being about to lose a home.  This is an extremely stressing situation.  Because I deal with this subject daily, today I did some research.  To put it short, mortgage debt stress causes a type heart arrythmia. 

This is what happens.  Being unable to pay the mortgage causes the emotion of dispair and impotence.  If this is prolonged, this emotion translates into a physilogical symptom.  It is a this point that the person starts feeling the shortness of breath, pressure in the chest, maybe some heart ache, lack of sleep, irritability, constantly feeling tired, etc.   Very soon the heart develops a form of arrythmia.  Arrythmia is iregular heart beat.  All this are the symptoms of depression.

Arrythmia is not something to take lightly.  Even people in the best health can suffer from it.  A relatively healthy person in his or her early 40s, but in the habit of excessive coffee drinking and smoking can easely get a heart attack.  A older person can easely get massive heart failure.  To learn more, do a web search.  There is plenty of info.

I personally know a couple of individuals that got heart attacks as a result of financial stress.  Don’t let this happen to you.  While you are solving your financial issues, you need to stay healthy.  So here is what to do. 

• Reduce caffeine and alcohol
• Stop smoking if you do
• Don’t stay in bed in the fetal possition
• Be surrounded by friends
• Treat your self and everybody else very well
• Keep up your self steem
• Excercise as much as possible

All this will keep you in a good mood, healthy and better able to get ahead.   Like this you will have the presence of mind and energy to make the right decisions and get back to normal.

Robert:

Good.  Take the deal!  Chase usually qualifies you and then you need to negotiate with them to see if things actually happen.

Questions: Did they qualify you for the $800 rebate? Or they are actually modifying the loan?  There is a big difference.  For actually having the loan modified you will need to go through a negotiation process.  At the end you will need to get a loan modification agreement.  You can see samples of that in my web site. Most likely you will still need to go through the negotiation process.  Let me know if you need any help.

You can do your own mod or we can do it for you. 

Sincerely,

Oscar

At 08:45 AM 7/9/2009, you wrote:
 

Oscar, I wanted to follow up with you on my loan mod request. I had called Chase bank yesterday and they qualified me for a mondiciation over the phone, dropping house payment by $800.
 
Thank you,
 
Robert

On Mon, Jul 6, 2009 at 4:33 PM, Oscar Morante <info@nwlossmit.com> wrote:

Robert,

It was good talking to you.  Thanks for considering NW Loss Mitigation, LLC for your loan modification needs. 

Attached is our pre-qualification form.  It is in Excel format.  You can also download it HERE Please complete it and email it back to me.  Please also send me the following documents.

Latest mortgage statement for each loan

Latest pay stubs if employed

If self employed, latest profit and loss statement.  Include last two months and year to date.

If self employed, last two months bank statements - personal and business

With this information we will know if we can effectively help you with a loan modification, and give you an accurate cost of service estimate.

Click HERE for sample loan modification results.

I look forward to your reply.

Sincerely,

Oscar

Oscar Morante

NW Loss Mitigation, LLC

Ph: 971-222-3734

Fx: 503-296-5663

9220 SW Barbur Blvd.

Suite 119 - #159

Portland, Or 97219

info@NWLossMit.com

http://www.modificationsloan.net/

When people want things, things happen.  We just stopped a foreclosure four days prior to sale.  The creditor held a second mortgage on a primary residence with plenty of equity.  Both the lender and the homeowner needed a solution.  I negotiated a re-casting of the loan.  To make it short, the second mortgage was for $19,000 at 15% interest only.  The homeowner was several months behind because he had been un-employed for several months.  Now he has income.  Below is the amendment to the original promissory.

Amendment to Promissory Note

Re-casting of Principal and Terms

Date:                July 7, 2009

Background

For the purpose of financing the property known by address as XXXX NE XXX St, Portland, Or 9721X, Mr. L.L.B. and G.F. Investments entered into a contract.  In this contract G.F. Investments loaned Mr. L.L.B. a sum of money.  In exchange for the loan, Mr. L.L.B.  promised to pay back the loan, plus interest.  See Exhibit 1.  To secure performance of this contract, Mr. L.L.B.  pledged the referred property as collateral.  See Exhibit 2. 

As a result of negotiation and agreement between Mr. L.L.B.  and G.F. Investments, the promissory note has been re-casted, but the trust deed remains un-affected.  This contract is an amendment to the referred promissory note.  The terms of the loan, and the principal amount have been changed.  These new binding conditions are detailed below.

Trust Deed of Reference

• Grantor                                     L.L.B.
• Trustee                                     Chicago Title
• Beneficiary                                G.F. Investments
• Document Date                         April 16^th, 2007
• Recording Date                         April 27^th, 2007
• Instrument Number                    2007-xxx – Multnomah County Mortgage Records
• Collateral Property                     xxx NE xxxx St, Portland, Or 9721x

Note:          Trust deed remains un-affected

                  See Exhibit 2   

Original Loan Principal and Terms

• See Exhibit 1 

New Loan Principal and Terms

• Principal                                   $30,000
• Interest                                     7% interest only
• Term                                         2 years
• Monthly Payment                      $175 payable every 10th day of the month until end of term
• Good Faith Payment                 $325 due to be delivered via US Mail and post dated July 7^th, 2009
• Late Payment Penalty                $50 if payment later than 5 days late
• Balloon Date                             Full principal due July 10th, 2011
• Pre-Payment Penalty                 None