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Are you going to be a Child or an Adult?
With that being said, there was one line in that movie that really resonated with me. Without spoiling the movie for you, there's a scene where one of the characters turns to the other and says,
"Children make decisions with their heart. Adults make decisions with their BRAIN."
Although the line was delivered in the context of a multi-billion dollar social networking company, I couldn't help but draw the connection to what we do here at Loan Audits Cal.
On a daily basis we are dealing with clients who are enduring a very stressful and emotional situation. Short of a family illness or some other health-related tragedy, facing a foreclosure is one of the most traumatic things that a person can go through.
We know this first hand as our Chief Auditor, Lisa, went through this exact situation before starting Loan Audits Cal.
(Click Here to read Lisa Henschel's Bio)
However, even during great times of distress there is always something that you can do to remedy your situation and it starts with taking IMMEDIATE action.
If you're facing foreclosure then you need to start making smart decisions about how you will fix your financial situation and save your property right now!
Remember the movie line that I just quoted: "Children make decisions with their heart. Adults make decisions with their BRAIN."
It's time to think with your BRAIN and not your heart.
Loan Audits Cal has a proven track record of success for our clients. Our Forensic Loan Audits are the backbone for loan modification not only for homeowners, but also for the attorneys who utilize our knowledge to negotiate the loan modifications that save properties. Very few people in this industry have the knowledge of CASE LAW like Loan Audits Cal and NOBODY will provide you the level of service like we can.
Why? Because we know exactly what you're going through and we CARE. We want nothing more than to help you get back on your feet.
We offer a true money back guarantee and if we can't help you and you end up losing your property then we'll pay for your moving truck. No questions asked. That's how confident we are that we can help you.
Make the smartest decision possible and contact us today. There is no time to waste. Your window of opportunity is getting smaller by the day.
Sincerely,
Chris Martinez
Partner/Director of Sales and Marketing
Loan Audits Cal
Phone: 1.888.940.5550
Fax: 424.205.1702
Email: chris@loanauditscal.com
www.loanauditscal.com s
The "You can REFI before the interest rate resets" and "Stated Income" B.S.!! Part Two
a) They were told they could Refi before the interest rate adjusted and
b) They were approved based on Stated Income.
I covered the Refi BS last time and so now I want to talk to you about a bigger bag of BS: STATED INCOME.
To illustrate my point, I want to tell you a true story about some friends of mine whose story truly encapsulates how much lying was going down during this whole housing boom.
This story begins with a couple who I had known for almost my entire life, John and Mary (these are fictitious names to protect their privacy)
John and Mary were two young professionals who were very much in love and decided that they were finally ready to buy a house together. Both of them were making good money for 25 year olds (combined income in the neighborhood of about $180k) and they both already owned property (she had a condo and he had a small rental property). With a budget and location in mind, they set out on their home search.
After looking at several houses in their price range, they decided to look at one that was WAY out of their budget just for fun. After a long day of searching they deserved a little break.
They walked into the 4 bedroom 2 bath beach house with no real hopes of ever buying the property. The place was pretty amazing. One block from the beach, next door to a professional athlete, etc.
It was listed at well over $1.1 million and wasn’t a piece of property that they thought they could afford even at age 45 let alone 25. However, after touring the open house with the agent they decided to put in an offer…just for fun.
This is where the story gets interesting.
Now in a normal world, there was no way that these two KIDS would ever be able to buy a $1 million+ property. However this was not the real world. This was “STATED INCOME-land" where greed was king and money grew on trees.
In a very formal meeting, the loan office and the two eager buyers sat in a room to make an offer on the property. Knowing that they were swinging for the fences, the loan officer knew he had to reach into his hat and pull out a rabbit to get this approved. He looked Mary straight in the eye and said “You make $350,000.00 a year, RIGHT?”. And then looked John straight in the eye and said “You make about $200,000.00 a year, RIGHT?”.
Mary and John looked at each other and hesitated for a split second. “What should we do?” they thought.
“Do we tell the truth? Do we go along with this? He’s the professional and he should know best…He’s here to help us.... And at the rate we’re getting we can afford this even with our REAL SALARIES, so what’s the big deal.”
And like a reflex, they both replied “Yes!!”.
The stated income figures went down on paper and the application was submitted. No pay stubs required.
Guess what happened next?
They got the house!!
Now these friends were lucky. They had a decent down payment and they were able to get a 30-year-fixed so they weren’t affected by the economic downturn. But, the lesson here is that even in the most upscale neighborhoods and with the most honest homeowners, the truth was being stretched and the law was being broken.
Can you imagine what was happening in less ethical neighborhoods? Or in neighborhoods where the home buyer didn’t speak English? Who knows what the loan officers were writing down on applications just to get a sale?!!
It’s despicable and is a true example of how greed was dictating the marketplace. And, now the homeowners are left to pick up the pieces while the brokers and loan officers moved on with their commissions.
Now I’m not sure if you fall into this category, but I need you to understand that we know what happened out there. We know about the deception and lies and we also know that you aren’t at fault for it.
The onus is on the realtor, the mortgage broker, and ultimately the lender to verify that the information provided in the loan application is accurate. After all, they’ve got a stake in the property, too.
But it looks like the banks forgot that last point.
So if you encountered this situation when you purchased your home and now are in trouble, let me tell you that we understand and it is our PRIORITY to help you get back on your feet.
If you’re not in this situation, but can see that the environment was rife with dishonesty and greed and now you’re behind on your own mortgage, please know that we can help you, too.
A FORENSIC LOAN AUDIT from Loan Audits Cal could be exactly what you need to get back on track and save your property. Please contact us today and we will work together to find a solution for you.
Sincerely,
Chris Martinez
Partner/Director of Sales and Marketing
Loan Audits Cal
Phone: 1.888.940.5550
Fax: 424.205.1702
Email: chris@loanauditscal.com
www.loanauditscal.com s
The "You can REFI before the interest rate resets" and Stated Income" B.S.!! Part One
1) “The mortgage broker/loan officer told me that we could refinance to a fixed interest rate before the current variable interest rate reset"
And
2) "I was approved using STATED INCOME”.
(Are you like one of these people? We want to hear your story. Click Here)
In this first email I want to address the Refi Statement.
Listening to clients tell me this really boils my blood. By no means am I mad at my clients. I get frustrated beyond belief because I know that the person who sold them their ridiculously bad loan concealed the truth.
How do I know this?
Many of our clients simply did not know that if the value of the property dropped that they would not be able to refinance the property. Many of our clients were first time home owners simply looking for the "American Dream" of owning a home and they were never educated in the pitfalls of the toxic loan they were sold.
HOWEVER, the mortgage broker/loan officer DEFINITELY knew that they were selling them a ticking time bomb and s/he probably also knew that the there was a very strong chance that the property value would drop within the 3 or 5 years before the interest rate reset. They knew that there was a 90% chance that you’d be stuck in your house with a giant payment that you couldn’t afford.
I always tell my clients that “It’s not your fault” so if this scenario happened to you, don’t worry. I know that you were taken advantage of and trust me when I say that you have nothing to be ashamed of. Many good, hard-working, honest people were taken advantage of during this time period.
The good thing is that there are laws that you can evoke through a Forensic Loan Audit that can help you save your property.
Contact Loan Audits Cal right away and we will provide you immediate assistance that could mean the difference between keeping your home or losing it.
Call me or email me today!!
Sincerely,
Chris Martinez
Partner/Director of Sales and Marketing
Loan Audits Cal
Phone: 1.888.940.5550
Fax: 424.205.1702
Email: chris@loanauditscal.com
URL: www.loanauditscal.coms
Inside the New NPV Calculator
Whether you will be forced to keep your current loan that will lead to a foreclosure on your property
OR
Whether the bank will give you a better loan that will keep you safely in your property for at least 3 more years?
On top of that, what if I told you that the same person who determines your fate didn't have to show ANYONE the calculator they're using or the logic they use to determine which option you get?
Well guess what? This mythical calculator is HERE!!
On October 1st the government released the new "Base NPV Model v4.0 Tool" that lenders are NOW using to determine whether or not you get a loan modification!! (NPV is short for Net Present Value)
It seems pretty ridiculous that these crooks don't have to reveal their "secret formula" to ANYONE, but that is just what we have to deal with now.
It's pretty much "plug-and-play" where the lenders will enter in data such as how much they think the property will be worth in a year, cost they'll incur to foreclose, whether they think you will be able to pay after they give you a loan modification, and other SUBJECTIVE data. (Not all of the data is subjective and I'm sure they're using super smart statistics and technology to help them determine these values, but this system is already drawing a lot of (deserved) criticism.)
Why is this a problem, you ask?
With all the secrecy surrounding this new NPV tool there is no ACCOUNTABILITY for their actions. These closed door, "we can do what we want" policies are a huge reason that the mortgage crisis started in the first place and now we're giving the keys to the city back to the banks again.
However, there is one thing that the lenders can not ignore and that is the threat of a Massive Class-Action Lawsuit.
Legal action is one thing that no major corporation wants to face. Even if the banks have grounds to fight it out in court with you, the threat of losing, and then opening the doors to THOUSANDS of other cases AND additional negative press is a strong motive for them to ditch the NPV calculator and offer you the loan modification you need.
A FORENSIC LOAN AUDIT from Loan Audits CAL that is entrenched in case law is the ONLY way you will be able to overcome the NPV tool.
Even if you do qualify, a loan modification is a voluntary act by the banks and they can still deny you.
Win the battle before you fight it!!
Contact Loan Audtis Cal today and let us give you the battle strategy you will need to get your loan modified and get you the 25, 30, 40, 50 or even 60% payment reduction that will help you stay in your home.
Give me a call, send me an email, shoot us a fax, write us a letter, but just do it TODAY.
We can help you and we can help you NOW. Just give us the opportunity.
Ps. We're offering a free initial evaluation of your loan documents this week so call us right away!!
Pss. Go to MSN.com for a bunch of great article about the moratorium!
Sincerely,
Chris Martinez
Partner/Director of Sales and Marketing
Loan Audits Cal
Phone: 1.888.940.5550
Fax: 424.205.1702
Email: chris@loanauditscal.com
www.loanauditscal.com
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