Mortgage problems? Everything changed on June 1, 2012. This book will help. It's the consumer's version of federal rules for modifying home loans, current with important changes that took effect on June 1, 2012. If you don't kw what to do. If you've applied for a modification, but it's taking too long. Even if you've been turned down. Rely on this valuable resource during a long, unfamiliar, and discouraging process. It can shift the balance of power and help you get control. Cut through technical jargon and specialized kwledge. Homeowners, landlords, and their trusted advisors w have a simple and complete reference when working with lenders. Step by step, it explains what you need to kw and do to get a loan modification. The federal Making Home Affordable Modification Program sets rules for more than 85% of all home loans. What are the rules? Can I lower my payments? Is my lender required to modify my loan? Do I qualify? Does my lender play by the rules? Here are the answers to your questions, plus 12 questions to ask your lender. Now you can understand the guidelines that the big lenders like Bank of America, Chase, and Wells Fargo use to modify home loans. They claim they want to help. It doesn't matter - they are overwhelmed. Borrowers must take responsibility for themselves. This book makes that possible. Loan Modification 2012 Essential Guide includes helpful suggestions and practical tools. Use the forms, grids, and worksheets to calculate your new payment, complete financial information, and qualify for a modification. Look up unfamiliar, but crucial terms in the Glossary. This is the User's Manual for homeowners, landlords, and their professional advisors to get the most out of the Home Affordable Modification Program. Kwledge is power. Get the results you want and deserve.
Dean Allen Kackley is a licensed attorney and real estate broker with a thorough knowledge of the federal Making Home Affordable Modification Program. He counsels borrowers regarding mortgage relief options and represents them in loan workouts with their lenders. In addition to a wide variety of real estate transactions, his lending experience spans more than two decades. After joining Wells Fargo Bank in 1985, then a portfolio lender that owned all loans originated, Kackley helped to develop its residential mortgage business with his broad knowledge of underwriting, settlement, and servicing functions. He worked briefly for the Independent National Mortgage Corporation (IndyMac), a market-maker for mortgage-backed securities (MBS), mortgage pooling and servicing investments, and alternate and sub-prime loans. In more than $250 million of sale, lease, and financing transactions, his experience involves residential, commercial, and land development properties, and hundreds of closings. A graduate of Yale University and the University of Kansas School of Law, Dean Kackley writes with a passion, intelligence, understanding, and clarity that are rare for this kind of book. His practice is located in Napa Valley, California.