Did You Get A Florida Loan Modification That You Can't Afford???

If you are one of the many people that were offered a
Florida Loan Modification that wasn't affordable or maybe your
situation has gone from bad to worst and you need to re-modify
your Florida Loan Modification, then there may be hope, thanks to
President Obama's new MHA (Making Home Affordable)
program.

Its not going to reduce how much you owe, but if you
qualify you can get rates between 2 - 5%.

Here are some of the requirements:


· Loans originated on or before January 1,
2009.

· 1st mortgage loans on owner-occupied
properties with unpaid principal balance up to
$729,750. Higher limits allowed for owner-occupied
properties with 2-4 units.

· All borrowers must fully document income,
including two most recent pay
stubs, and most recent tax return, and must sign an
affidavit of financial hardship.

· Property owner occupancy status will be
verified through borrower credit report and other
documentation; no investor-owned, vacant, or condemned
properties.

· Incentives to lenders and servicers to
modify at risk borrowers who have not yet missed
payments when the servicer determines that the
borrower is at imminent risk of default.

· Florida Loan Modifications can start from now until
December 31, 2012; loans can be modified only once
under the program.

If any of the above sounds like you, then give your lender
a call our if you want a professional option send me an email
or call me.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://www.specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Should You Negotiate A Florida Loan Modification On Your Own???

Yes as a home owner, you can negotiate with your mortgage company
yourself. Similar to how some people act as their own
accountants or legal representation, some people are
knowledgeable enough about mortgage education that
they have no problem negotiating a Florida Loan Modification with their mortgage
company on their own.

For some the term "loan modification" is an
intimidating and confusing term. If you find yourself in this
category, you may find dealing with their mortgage company
to be a frustrating experience as they are shuffled
along the assembly line-like process, never sure if
the representative they are talking to is truly
looking out for their best interests or merely trying
to meet their quotas while attempting to keep their
talk time low.

When you are on the phone with your mortgage company
and they tell you there is nothing that can be done
for you, how do you know if this is the truth or if it
is simply what the representative chooses to tell you
as a result of their inexperience? These
representatives aren't sitting in an office of their
own, thinking about what a great career they have. The
mortgage company representatives you will deal with
work in call centers- a low-paying, high-turnover
field of employment. Our negotiators have more
experience in mortgage retention than most any of
these representatives, do you?

How many financial investments are as important to
the average person as their home? Much like in any
important matter, having the proper guidance and
representation can make all the difference in the
world. It can save you time, trouble and money when try to obtain a Florida Loan Modification.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Beware Of Overnite Florida Loan Modification Experts!

In the past few years it seems that everybody from
Mortgage brokers, Real Estate agents and even Lawyers
have become overnight "Florida Loan Modification Experts."


I have yet to find the College that bestows a
degree to these people in such a short period of time.
It seems anyone who can put a web site up becomes an
expert in a matter of days. Ironically these may be
the same people who were part of the predatory loan
disaster to begin with and are just looking to make a
quick buck.


It is amazing how little these people even know
about how a Florida Loan Modification works… their lack of
knowledge can sometimes be harmful to you, the
borrower.

Beware... of anyone telling you they can
get you a Florida Loan Modification and that the lender is going to
respond to them more readily. Beware!


Anyone who tells you they can modify your loan and
you don't have an adjustable rate mortgage, in
foreclosure or some other type of hardship is either
lying or doesn't know what they're talking about!

Think about this, why would a lender even consider
modifying your loan if there is no current problem with your loan? They
will not!!!

I hope you found this Florida Loan Modification tip to be valuable.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

How To Choose A Florida Loan Modification Company And What To Look Out For!

With the current collapse of the real estate market, there has been an increase of con artists that has arrived in the loan modification field, which target home owners that are in facing foreclosure.

What these fraudulent loan modification companies do is prey on the fears of these home owners that are in the midst of losing their homes to foreclosure. They give them empty promises which include guaranteed reduction in their mortgage rate to 2% or lower and also a guaranteed reducing in their principal balance to the current market value or lower. While these results are certainly possible, the truth is no loan modification company can guarantee these results even if it done by an attorney as it's the lender that makes the final determination. The chances of getting the amount you owe reduced is slim to none on your first mortgage, but if you have a second mortgage as well, then there is a possibility in getting that mortgage reduced as the second mortgage holder will lose everything, if the home ends up in foreclosure.

Home owners need to be aware of these scams and what to look for as more and more phony loan modification companies are on the rise and present themselves as the homeowner's last resort if they want to save their home. Many of these companies started popping up about a year ago, as lenders tightened up their guidelines and property values plummeted which as a result home owners that we in adjustable rate mortgages had even fewer options than before to refinance and save their homes from foreclosure.

Some of these scam artists even took it to another level and advised the home owner that they can stop making their mortgage payments as they are taking care of everything. Normally when the homeowner find out that they have been hustled their hard earned money, then it's normally too late to avoid foreclosure at that point.

Home owners need to ask a lot of question and do their research before selecting a legitimate loan modification company to work with. They need to be aware of what's happening in the industry. Recently a lot of mortgage brokers and real estate agents have gotten involved in the loan modification business, without properly understanding the procedures and guidelines involved, and are more concerned about the money they can make.

If the home owner is facing foreclosure, they don't want to end up with an inexperienced loan modification company that doesn't have a successful track record of accomplishing beneficial loan modifications. Another reason you want to work with someone that has experience is, most lenders will only give the home owner one chance per year to get the loan modified, so if its not done right the homeowner could still end up in foreclosure.

Here is one of the most common red flag to look for when choosing a loan modification company:

Guarantees - Scam artist are known to make empty promises and will tell you whatever you want to hear to get a hold of your hard earned money. Especially if they haven't seen your paper work and haven't made a proper analyst of your individual situation, then how can they determine what rate and terms that they will be able to accomplish for you? Remember the lender makes the final determination, not the loan modification company.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy or to get instant access to the remainder of this Insider Mortgage Report, please visit http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796

Should You Stop Making Your Mortgage Payments To Get A Florida Loan Modification??

Up until a few months ago, lenders were not modifying loans for home owners
that were on time with there payments. So if you have been considering to miss
a few mortgage payments to encourage your lender to modify your loan, you may
want to re-consider.

Normally lenders would only grant Florida Loan Modifications to home owners that were
three or more months behind and the reason for this is because these
delinquencies proved that the home owners were in need of a Florida Loan Modification.
But lenders now understand the importance of keeping a performing loan
performing or keeping a home owner making timely payments by means of a
Florida Loan Modification, instead of making the home owner become delinquent, is not a
good idea for home owner or lender.

If you check your lenders websites you will now see that majority of them now
imply that being late on your mortgage payment is no longer a requirement to get
a Florida Loan Modification approved. I want to encourage all home owners that they
should not wait until they have missed a payment, but if they foresee a problem
to contact their lender immediately to possibly avoid a delinquency.
The new Obama Plan or Making Home Affordable Plan is now dictating the
direction that many lenders are tailoring their policies in reference to loan
modifications. This new government loan modification program were designed
for home owners that are currently on time, as well as home owners that have
missed a few payments. Its also states on the main Making Home Affordable
Plan website that “"responsible borrowers who are struggling to remain current
on their mortgage payments are eligible if they are at risk of imminent default."

Now what does “risk of imminent default mean? This means that a home owner
that has a mortgage where the rate has recently adjusted and the payments are
no longer affordable or a significantly loss of income or any other type of
hardship, would make the home owner qualify under the new Obama Plan.
Now one important reason not to be delinquent with your mortgage payment, is
that is will disqualify you from getting a refinance under the Making Home
Affordable Plan, refinancing under this plan could help home owners refinance at
current market values so they are no longer upside down with their current
mortgage and get a more stable fix rate loan.

Another important reason not to miss payments is that your credit will be
tarnished for years to come. Some home owners may believe that missing a few
payments at the expense of their credit score, is not such a bad thing if they can
get a lower mortgage payment. Here are some of the consequences that most
home owners don’t take into consideration, they don’t realize how difficult
refinancing will be because of the late payments, getting approved for an auto
loan or getting new credit card accounts. Not to mention, having a low credit
score will cause utility companies to require a deposit, your interest rate on your
credit cards can go up and also you car insurance or home owners insurance
can increase because of a lower credit score.

Home owners need to also take into consideration that if they miss a mortgage
payment, that they still owe that payment, which because it’s late, it will now
include late fees and penalties and other junk fees that your lender can tack on
depending on the seriousness of the delinquency.

Marlon Baugh is a nationally-known mortgage expert. Since 2003, he has specialized
in Florida FHA Mortgage Loans for people with Bankruptcies, Foreclosure or with
other credit issues, as well as Florida Loss Mitigation. If you would like a Free Copy
or to get instant access to the remainder of this Insider Mortgage Report, please visit
http://specializedfinancialsolutions.com/lendersexposed.htm or Call 954-678-5796