The program called "Cash for Keys Program" is probably the best-kept secret in the banking industry. This program is probably offered by 90% of lenders but, lenders never offer you this program if you don’t ask about the program. The program is simple pay the homeowner to leave his home with the condition that they leave all fixtures in the property. It makes it easier for both parties; the bank has an Read More

In order for a bank to proceed with a foreclosure and obtain a final judgment of foreclosure, the specific bank and or servicer bringing the action, must provide evidence that it owns and holds the note and mortgage. Additionally, the bank must verify that the amounts due and owing are correct, and the amount of the final judgment is an accurate reflection of the debt owed by homeowners.   To obtain a final judgment Read More

            Renters are being seriously affected by foreclosures almost as much as homeowners these days. The downfall of the mortgage industry has resulted in millions of foreclosed homes.  Most of the occupants of these foreclosed homes are the homeowners themselves, but a great number of the occupants are renters who discover, often with no warning, that their rented house is now owned by a bank, which wants them Read More

        If you are a South Florida homeowner, and are in foreclosure, you may have trouble meeting other financial obligations besides just your mortgage. Your first step would be to consult a Miami Dade Foreclosure attorney. If however, a final judgment has already been entered and your Miami-Dade County property has a foreclosure sale date, bankruptcy may be an option. If your property has been foreclosed, the Read More

While the United States of America is close to three (3) years into the loan modification process, many homeowners still do not understand the basic guidelines to actually qualify for this government backed program. They are as follows:   Qualification guidelines for HAMP   ·                     The house to be mortgaged should be the primary residence of the homeowner and not an investment property. It also takes Read More

A new program called The Home Affordable Unemployment Program has been announced by the Treasury Department, and took effect on July 1, 2010.  This new program provides servicers the flexibility to provide assistance to borrowers whose hardship is related to unemployment.  According to this new program, when a borrower is unemployed, a HAMP trial period plan or permanent HAMP modification may not be offered to the Read More

In order to foreclose on a property, a bank must first obtain a Final Judgment of Foreclosure. There is a specific procedural process that must be followed before a court may enter a Final Judgment of Mortgage Foreclosure. Many banks, specifically in South Florida, have been circumventing these procedural safe guards in order to obtain these final judgments on an expedited basis. As a homeowner in South Florida, it Read More

It is imperative at the beginning stages of applying for a Loan Modification that you submit a complete Loan Modification package to the bank.  Every bank has different guidelines, but generally request the same type of financial documentation to begin the Loan Modification process.  If you are applying for the Obama Plan, which is known as the Home Affordable Modification Program (HAMP) it is essential that you Read More

           In my years of loan modification experience in the State of Florida, I’ve noticed several improvements in the loan modification process. The improvement that recently stands out to me the most comes courtesy of Bank of America. Bank of American has recently begun to implement a much more efficient method of collecting and reviewing documents for loan modifications. Now home owners are able to submit their Read More

In order to make Floridians more knowledgeable about the loan modification process, the Law Office of Ray Garcia, P.A. has published a series of tips that may help you in modifying your loan. These tips are not legal advice just actions to consider when attempting to do a loan modification. Tip #1: Find out if your lender participates in the HAMP Program. The Home Affordable Modification Program (HAMP) is the Read More