Upside Down Mortgage

Posts Tagged ‘forclosure’

Loss Mitigation Fraud

Each year hundreds of thousands of organizations in the United States experience the negative effects of workplace crimes firsthand. These detrimental and costly experiences lead to considerable losses in productivity, assets, workplace/employee morale, and tragically, even life. They also usually require resorting to the hiring of security consulting firms or security companies. Crimes known to occur in work-type settings include: theft, vandalism, assault, kidnapping, arson, rape and murder, among many others. Mitigating your exposure and risk to these security threats begins with identifying vulnerabilities in your organization that would be conducive to these crimes. One of the first steps that are taken by security guard companies in this process involves conducting an effective security assessment, to expose onsite weaknesses that can create the kind of conditions necessary for the perpetration of these crimes.

Different types of organizations have different types of security needs. For instance, the usual security concerns of an industrial plant facility manager may be different from those of the owner of a car dealership. Where the car dealer may be mostly concerned with keeping his/her assets safe when the dealership is closed, the industrial plant facility manager may be focused on securing the onsite and logistical safety of all manufactured goods or substances, as well as keeping employees and local residents safe. In fact, while many organizations view security as a simple service involving the protection of people and assets, there are a myriad of security deployments that can be implemented to address a wide variety of security challenges. In consideration of these varying deployments, a security company has various factors to consider, including:

Crime Risk:
Is there a high crime rate in the area?

Types of Assets:
Are there on-site assets to be protected? If so, are they portable, or difficult to transport?

Traffic:
Does the establishment receive pedestrian traffic?

Types of Substances:
Are there on-site substances or raw goods/materials to be protected? If so, are they consumable or hazardous?

Time:
Is the establishment open 24 hours a day, or only during business hours?

Accessibility:
Is your establishment located above, or on, ground level?

Stress:
Is the establishment a high-stress atmosphere?

All of these factors can have a significant effect on the type, and manner in which, a security application is deployed. In addition to the on-site scenarios indicated above, consideration must also be given to behavioral and motivating factors that can influence certain types of crimes, and identify specific types of offenders. For instance, depending on your type of organization, a theft may be more likely to be perpetrated by an employee than a complete stranger. Below is a general guideline for behavioral or motivating factors associated with the following crimes:

Theft:
Dispassionate crime. Objective is personal gain.

Assault:
Passionate crime. Objective may be revenge. Usually committed by employees or their spouses/ex-spouses, relatives, friends or associates.

Fraud/Product Tampering:
Passionate crime. Objective may be revenge or personal gain. Can be committed by employees, customers or contractors.

Vandalism:
Can be Passionate or Dispassionate crime. Objective may be revenge or boredom/recklessness. Usually committed by young adults/adolescents or disgruntled employees.

For each of these crimes, the deployment of visual deterrents, such as security guards and surveillance cameras, has a varying degree of effectiveness. For instance, a passionate offender, such as the ex-spouse of an employee whose mind is unequivocally set on an onsite assault, is less hindered by the presence of security cameras than the burglar, whose goal is to perpetrate a theft without getting caught. By understanding the security factors pertaining to your specific organization, as well as the types of risks your organization may face, you, or your security agency, can develop an efficient and effective security plan, which in the long run, can save you a considerable amount of time, money and resources.
About the Author:

Harold German is a renowned author and contributor, with appearances on CNN and in noted international publications, such as The Economist. Mr. Germans latest articles focus on becoming a security guard, as well as how you can start a security business. He is a senior writer for Partner Service Sites. Copyright

Source – Mitigate Risk for a Successful Workplace Security Plan

Mortgage Loan Modification 5 – Home & Real Estate Marketing Nov08 – Loss Mitigation works for Banks

Loss Mitigation Foreclosure

Question: News forecasts, be more specific on borrowers rights on foreclosures. Help us?

Who can we contact for help? Who can we trust with so many scams and identy theft everywhere? Should we get legal help as well as housing counseling? How do we get in contact with the loss mitigation dept. with the lender? Whats our government doing to help/protect us from foreclosures?

Answer: You can also try the Home Owners Preservation Foundation. They are a nonprofit organization that will help you negotiate a forebearance with you lender for free. They are at www.995hope.org.

Also, contact your local HUD office. There are a lot of local programs available.

Two other options you have: Deed in lieu, and reverse mortgages. Deed in lieu is where you basically surrender your deed to the mortgage company without them having to go through the legal battle. It saves them tons of legal costs, and it saves you from having a foreclosure. A reverse mortgage is where you sell you home back to the lender based on how much equity you have in the home. If you have been paying the mortgage on time for a long time, you will have a couple of months or years of time with no mortgage payments to get your finances in repair before the lender owns your home and you have to vacate the premises.

Finally check with local investors. There are always people out there who will buy your house from you for a profit. You can find them in your local newspaper under the real estate classifieds. They normally have ads that say "we buy houses". This may not always be profitable to you. It will remove the problem though, and save you from having a black foreclosure mark on your record for life. A lot of times you can walk away with some cash in your pocket too.

Whatever you do - you have to MOVE FAST and act now. A bank can foreclose in a very short amount of time. Once a house is foreclosed, then you have lost every claim to any money that you have put into that property (although in some states there is a redemption period in which you can still pay off the loan and get the property back).

US HomeSavers Loss Mitigation Foreclosure Prevention

Loan Modification Vs Bankruptcy

Before you being to pursue a loan modification with your lender, research the loan modification laws that pertain to you. These laws will influence your ability to get a loan.

If you own a home, you need to know the loan modification laws that are in effect in your state so you will know if it is possible for you to get a loan modification from your lending institution. The Home Affordable Modification Program lets homeowners from all around the United States apply for a loan modification if they are experiencing financial difficulties. However, different states have different laws and different lenders have different guidelines. You need to know them in order to know if you qualify.

State loan modification laws generally outline who is able to handle modifications such as mortgage brokers and attorneys. It is not easy to find these laws, but it important you know them because they will determine your success. You need to use the right sources, like your state’s Real Estate Commission. If you know these laws up front, you can save time and money and possibly save your home.

Lenders have guidelines, not laws, but it is still important you know them. You must fit these guidelines exactly if you want to get your modifications approved. Usually these guidelines revolve around these factors:

* The balance of your mortgage

* Your credit rating

* Your payment history, specifically if you have made late payments

* The values of your property vs. your mortgage balance

* If you have filed for bankruptcy

* Your financial circumstances

Lending institutions are very strict about these guidelines. Before doing anything, it is in the homeowner’s best interest to do some research to find out the exact expectations. If you don’t do this, all the time you spend doing paperwork and filling in applications will be wasted.

These laws have been put into effect because there have been many loan modification scams and frauds in today’s market. Homeowners who are facing desperate circumstances with not way out often trust any agency that offers them hope. These fraudulent companies charge an upfront fee that can be into the thousands of dollars. This fee is not necessary to begin negotiations on the borrower’s behalf, but is simply a fabricated fee charged to rip off desperate people.

Before you do anything regarding a loan modification, investigate the laws regarding the Home Affordable Modification Program in your area. Check with your lender about their guidelines. After you have determined that nothing will prevent you from being eligible, you can proceed. You can get a free consultation under the Home Affordable Modification Program that will guide you through this process and will provide help on your behalf.
About the Author:

For essential tips and facts about how to get approved for a Loan Modification, Visit our simple, no nonsense loan modification guide and resource: http://MortgageModificationLoan.net/

Article Source: ArticlesBase.com – Loan Modification Laws That you Must Know

The Consumer vs. Loan Modifications

Loss Mitigation List

Question: What’s the probability of a short sale success?

My offer on a short sale was accepted by the seller. The house was on the market as a short sale for about a year in Orlando, FL. The original list price on the house was $70K more than my accepted offer. A day after my offer was accepted my realtor received a call from the seller’s loss mitigation company who informed her that the banks are “slow” and to let me know that it will take 3 – 5 months to close. The seller has only one lien holder. I also placed $1K in escrow. What are my chances of actually closing? Can I rescind my offer if closing isn’t done in 3.5 months? And lastly, what are the banks doing during this 3 – 5 month time frame while the house is vacant and the maintenance is going downhill? Thanks all!

Answer: I would give it a 20% shot.

They are appraising it and trying to figure out if it is better for them to foreclose. Very often foreclosure is more logical then a short sale.

How to Properly List a Short Sale Property

Loan Modification Grants

Question: why are none of the hard up conservatives in my area refusing Obamas economic benefits?

Companies, large and small, who a few years ago who hosted Bush, Dick DeVos etc are now lining up for bail out loans. The unemployment offices are full of cars with W04 and McCain stickers! So many are applying for this grant and that extension and mortgage modifications that they resources are swamped! They are grabbing every cent of government money they can and looking for more.

Can someone please explain this to me? It seems that they would prefer to let the ‘free market’ work out their financial problems, don’t you think?

Answer: One word...hypocrisy. (It's also apparently "Republican" to think its not welfare if I get it, it's only welfare when someone else gets it". Tea-bag parties are proof of that "It wasn't bad spending when Bush did it, its only bad spending when Obama does it." Or, "it's not torture if we do it, it's only torture if it's done to us." Pretzel logic at it's finest!)

It's also amazing to hear the bigots in the GOP cry about "minorities and welfare" when, in fact, it's "non-urban WHITES" that receive the most welfare [44% of all welfare recipients, to be exact]...DUH! )

Avoid Foreclosure Guaranteed! www.TaylorGrant.net