Home Loan Analysis

If you are current on your mortgage you still will be able to refinance under the Home Affordable Refinance Program (HARP).

Eligible borrowers who are current on their mortgages but have been unable to take advantage of today’s lower interest rates because their homes have decreased in value, may now have the opportunity to refinance. Through a refinance under HARP, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they own or that they guaranteed in mortgage backed securities.

For other FAQs visit http://www.makinghomeaffordable.gov

• Department Of Justice (Fraud Division)
• Federal Housing Administration (Avoid Foreclosure Info)
• File A Complaint With The FTC
• Freddie Mac’s Anti-Predatory Lending Website
• FTC Credit And Loans Info
• FTC Foreclosure Rescue Scams
• FTC Know Your Mortgage
• Housing & Urban Development Website
• IRS Foreclosure Tax Relief Info
• IRS Q&A – Foreclosure / Loan Modification Tax Consequences
• Mortgage Servicing Complaints
• State Senator Contact Info

“Mr. President: What can be done to assist homeowners paying their mortgages but facing significant losses in equity? As a category, it is difficult for these responsible people to refinance into the more favorable mortgages now available.”
Helen Kathryn, Seattle, WA

The Making Home Affordable Refinance Program is designed specifically to help those whose home values may have fallen relative to their mortgage values.  The program is available to homeowners with a first loan, owned or guaranteed by Fannie Mae or Freddie Mac, that is 80-105% of the value of the home.

We’re focused on getting as many families as possible who are struggling with their mortgages into a mortgage that they can afford.  The Home Affordable Modification Program gets the borrower’s interest rates and monthly payments down to a level they can afford in a way that is most cost effective for taxpayers.  That will keep millions from being foreclosed on.  Our plan permits lenders to get to a level of affordability in a variety of ways, including reducing interest rates, extending terms, or writing down principal.  In addition, we have incorporated principal write downs into our incentive structure in a productive way – success payments to homeowners are available to help pay down principal more quickly.

The Administration on April 28 announced the MHA Second Lien Program and incorporation of Hope for Homeowners, a program designed specifically to help underwater borrowers, into the Making Home Affordable Program.  The Administration is strongly supporting legislation to improve Hope for Homeowners so that it can reach more borrowers, and help to increase the equity those homeowners own in their homes.

The Treasury Department announced the eligibility and requirements for the Home Affordable Modification Program (HAMP). Under HAMP, servicers apply a consistent loan modification process to provide eligible borrowers with sustainable monthly payments for their mortgage loans.

This Supplemental Directive introduces the Home Price Decline Protection (HPDP) incentives. This initiative is designed to encourage modification of loans in markets hardest hit by falling home prices.

The HPDP initiative provides owners with additional incentives for HAMP modifications of loans on properties located in areas like Miami where home prices have declined and where home owners are concerned that price declines may persist.

HPDP incentive payments will be linked to the rate of recent home price decline in their respective housing market, as well as the unpaid principal balance.

For more information see a loan modification expert in your area.

The new Obama Loan Modification Program can be a lifesaver for many homeowners. However, knowing how the program works, learning the ins-and-outs and the associated requirements can be a frustrating experience.

As an example, if you are not up to date as per MBA calculation at the end of your trial period, the foreclosure process will continue with the selling of your home. This isn’t something you want to manage on your own, because the risks are too high. A good first step is to contact a professional for FREE assistance. After the consultation, if they have found errors in your loan paperwork or deem your case has hardship potential, the consultants will refer you to a trusted adviser or legal counsel.

To learn more contact us at

Forensic Loan Audit
Adam Mukadam
2713 SW District Ave
Port St Lucie, FL 34953

P. 866 910 7065
am@ioannoulaw.com

It’s no secret that the economy has seen better days.  Real estate values have dramatically slipped and many Homeowners are finding themselves in a difficult position.

If you are one of the millions of Homeowners struggling to deal with the global recession a home loan analysis may help. There currently is a program that will help close to 4 million homeowners avoid foreclosure and you may be eligible.

Homeowners need to work out an affordable loan modification plan with their lenders, and decide on what kind of assured payment can be made each month without fail, for a long term. This program requires a mountain of paperwork and can be an intimidating challenge for most. However, a home loan analysis is a free service provided by Forensic Loan Audit and can be completed within a few hours. They will help you determine if you are qualified and should continue with the process or suggest other avenues. They can also recommend an Attorney if your case needs the support of expert legal advice.