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Mortgage Modification Legal Network offers the largest National Footprint as a Resource to Banks for Greater Standardization and efficiency with the Modification Process
Mortgage Modification Legal Network offers the largest National Footprint as a Resource to Banks for Greater Standardization and efficiency with the Modification Process
“Reducing the number of avoidable foreclosures” Fed Chief Ben Bernanke comments that we need to draw on the best thinking available and a network of solutions
WASHINGTON, Dec 05, 2008 (BUSINESS WIRE) — According to Federal Chairman Chief Ben Bernanke, the Banks are essentially overwhelmed with the demand by homeowners to modify their mortgages. As the Federal Government actively pursues immediate relief, banks look for ways to reach homeowners with a message to work together to solve the crisis.
The Mortgage Modification Legal Network (www.wesavehomes.com) answers the need for bank relief with the largest network of attorneys and affiliates nationwide.
In many cases, due to the sheer volume of the demand, the homeowner’s lack of awareness of the bank’s mindset, and the homeowner’s reluctance to speak directly to the banks, a third-party relationship is ideal for getting the job of modifying mortgages done in a timely and efficient manner.
There are pitfalls however; many loan modification “mom and pop shops” are overly aggressive in counseling the homeowner to the detriment of the bank’s fragile eco-system.
“There are many companies out there that will take a homeowner’s money, counsel them to miss payments and then not complete the modification until the homeowner is severely delinquent,” says Paul J. Simino, President/CEO of www.onesimpleloan.com. “This gives the third-party relationship a black-eye and hurts all of us robbing the opportunity to help the homeowner and the economy.”
“We offer the homeowners and the banks a highly transparent and efficient system and we simply never counsel the homeowner to miss payments or go against the most basic code of lending practices. Because we have the largest affiliate network in the Country we are able to turnaround the modifications in record time compared to what homeowners are typically quoted and we are able to show the homeowner and the banks the status of their modification on a daily if not hourly basis,” says Ryan Boyajian, President of the Mortgage Modification Legal Network.
The Mortgage Modification Legal Network is also known for their grassroots efforts in providing in-neighborhood seminars and meetings and community outreach. The Spanish-speaking community considers Mortgage Modification Legal Network as their number one resource. “From the beginning we have taken a very active role with the Spanish-speaking community,” says Gerry Fernandez with MMLN. “We know this market, and provide the level of competency and trust they deserve. We also provide our services in other languages including Japanese, Korean, Vietnamese, Farsi and Mandarin.”
About the Mortgage Modification Legal Network:
With over 40 years of combined experience in the financial services, debt settlement and mortgage industry, MMLN has rapidly become one of the largest nationwide loan modification and loss mitigation servicing firms.
Founded by industry experts and with the help of our nationwide network of attorneys, MMLN was created to meet the mortgage industry’s increasing demand for loan modifications, loss mitigation services and loan work-outs. We have created a variable cost solution that allows all of our clients the ability to contract our services in hopes of saving their homes.
Visit our website at www.wesavehomes.com to find out about the seminar near you or contact us at: (877) 606-MODS. 27651 La Paz Road, Suite A, Laguna Niguel, CA 92677
Subscribe to the comments for this postCredit Card Companies Willing to Deal Over Debt
The New York Times published a new interesting Article on Credit Card Debt and Banks willingness to negotiate.
Bank of America says it eased off on more than 700,000 credit card holders in 2008, lowering interest rates and some balances.
Lenders are not being charitable. They are simply trying to protect themselves.
Banks and card companies are bracing for a wave of defaults on credit card debt in early 2009, and they are vying with each other to get paid first. Besides, the sooner people get their financial houses in order, the sooner they can start borrowing again.
So even as many banks cut consumers’ credit lines, raise card fees and generally pull back on lending, some lenders are trying to give customers a little wiggle room. Bank of America, for instance, says it has waived late fees, lowered interest charges and, in some cases, reduced loan balances for more than 700,000 credit card holders in 2008.
American Express and Chase Card Services say they are taking similar actions as more customers fall behind on their bills. Every major credit card lender is giving its collection agents more leeway to make adjustments for consumers in financial distress.
“Consumers have never been in a better position to negotiate a partial payment,” said Robert D. Manning, the author of “Credit Card Nation” and a longtime critic of the credit card industry. “It’s like that old movie ‘Rosalie Goes Shopping.’ When it’s $100,000 of debt, it’s your problem. When it’s a million dollars of debt, it’s the bank’s problem.”
Debt Settlement Companies like www.netdebt.com should gain from this change in philosophy.
Debt Settlement is similar to 700B Debt Bail Out
Debt Settlement is very similar to the Federal Debt Bailout bill on a smaller scale. The US government is removing the “toxic” debt that is on the books of the major banks. Debt Settlement removes your “toxic” personal debt so you can start new and improve your cash flow situation.