Steps to a loan modification NY state

To stop looting

If you have reduced your mortgage payments, you may receive a lot of notifications and letters from your bank about the possibility of losing your property.

One of the biggest mistakes customers make when they lose some mortgage payments is that they sit back and continue to think about legal options. If you are late in your mortgage payments, our company will guide you through options such as loan modification, short sale, bonds, or tolerance. If you receive a bank policy and a complaint, our company will ensure that you respond promptly and that you maintain all relevant defenses. From now on, we will take a very aggressive stance to protect your rights with the banks, from compulsory settlement through auction sales. Our team, led by Patrick Binakis, has a unique perspective and advantage over other law firms when it comes to protecting borrowers. He had previously represented creditors in the enforcement process as a lawyer, Mr. Binaki is on the other hand and knows a lot of ways and defenses that can put pressure on banks that are responsible for any abuse. committed to the borrower.

Problems taking action

In addition to calls and complaints, customers often come to our office with letters received from a law firm representing the bank.

This process, known as appeal, is a request of the Court for a decision from one day. The type of motions offered to clients can be through Reversal, Decision Making, or Abuse in Market Transfer. Many clients believe that everything is lost when they are serving on a bank trip. This cannot be true. There is nothing better for a bank than borrowing when it has failed to do anything wrong. Many lenders do not realize that there is a lot of opportunities for banks to respond and file a lawsuit after graduation. Our company has extensive experience in litigation. We are looking at each situation individually and looking for safeguards to respond to bank complaints and efforts to change the issue so that the bank can support or at least approve the exchange rate. slow down in practice. If you have received a complaint, you must contact our company immediately to begin the process of dealing with the bank.

Schedule sales of products

Getting a Sales Notice from a bank can be very worrying. To avoid the negative effects of the filing business, our company can file an order called Show to Show Cause to be able to stay on sale.

At this stage, a Criminal Justice Agreement is required to make the Court aware of the need for immediate enforcement. We would argue that the foreclosure should remain so that the borrower has more time to save the home by looking for options, such as exchange rates, short sales, or payments. Depending on the facts surrounding each case, we will continue to acknowledge and argue about the protective capabilities available on behalf of the borrower to defer litigation in this case. If you have received a Sales Notice from a bank, you must contact our company immediately so that we can begin the process of impact. for sale.

If your mortgage has become inadequate, changing mortgages can reduce your monthly payments and keep you out of debt. With the amendment, the lender agrees to change the terms of the loan

to hopefully make multiple payments your way. To reduce the payment, the exchange will usually lower the interest rate and extend the loan period. The borrower usually also adds an overdraft to the principal without having to pay the principal to take out an existing loan.

Looking for Mortgage Analysis Services

The information you need to provide with your application

To receive a change, you must submit a complete application to your service provider. As part of that application, you will need to provide specialized information. Although the list of documents your employee may need may differ from the list below, the following items should normally be part of the application:

an income and expenses financial worksheet

tax returns (often, two years’ worth)

recent pay stubs or a profit and loss statement

proof of any other income (including alimony, child support, Social Security, disability, etc.)

recent bank statements, and

a hardship letter or affidavit.

Not sure what difficulty or discomfort you had?

In your letter of urgency or affidavit, you should briefly describe events or events that have had a negative economic impact on you in simple, direct, concise terms. Some of the most common types of anxiety include job loss, reduced pay, unemployment, reduced business income, death of a borrower, illness, injury, and divorce.

Note that the above list is not exhaustive; other difficulties apply. You may be experiencing discomfort without realizing it. To help determine what difficulties you have experienced, talk to your spouse, co-worker, lawyer, or accountant, and reconstruct a series of events that have left you in your current financial situation.

Make sure your application is complete

To receive certain protections against foreclosure under federal (and some state) laws while your modification request is pending, you must submit a “complete” application to your service provider. This means that you must submit every document requested by the service provider, including all pages. So even if page four of your bank statement has no information, if the other pages say “Page 1 of 4”, “Page 2 of 4”, and “Page 3 of 4”, you must submit all four pages. Otherwise, your service provider may consider your documents — and your application — incomplete. Service providers often refuse loan modifications due to incomplete applications.

After you submit your application, keep in touch with the service provider. Contact the server at least once every week for updates on the status of your files. Make a note every time you talk to the service provider;

Write the name of the person you are talking to and explain what you are discussing. (Your information may be important if you decide to sue based on the service provider’s actions or omissions.) Also, ask your service provider if you need to provide updated documentation.

The service provider will review your application with supporting documentation and you will receive a modified loan if you follow the program instructions.

For information on foreclosure defense call us at (877) 399 2995. We offer litigation document review support, mortgage audit reports, securitization audit reports, affidavit of expert witness notarized, and more.


Obtain the facts & evidence and the litigation support you deserve today! Call or request a free consulation today!

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