Forget Foreclosure Make Mortgage Affordable

By Michael Hughes November 29, 2009

There’s a new sheriff in town and their going to help you out. Government’s new Home Affordable Modification Program, known as HAMP.

The U.S. Treasury created the program as part of the Troubled Asset Relief Program, or TARP. It is intended to help struggling home owners work with their lenders to get those payments down to what is more reasonable.

“The U.S. Treasury has introduced a streamlined process to expedite more affordable monthly mortgages addressing current financial hardships,” said Meg Reilly, a spokeswoman from the Treasury Department. “We surpassed our goal sooner than anticipated with over one-half-million borrowers who already have trial modifications underway.”

While some lenders have been slow to start HAMP is proving to be quite a life saver to those in need who have now gone through the process.

“ More than 25,000 applicants are being processed each week through HAMP”, Reilly said. To qualify for HAMP, a home owner’s monthly mortgage, including principal, interest, taxes and insurance, must be greater than 31 percent of total gross monthly income.

“Once a mortgage modification is approved, it will reduce a monthly mortgage to 31 percent of monthly income for at least five years,” Reilly said.

There is no cost to have a mortgage modified in HAMP.

HAMP can reduce a homeowner’s payment by lowering the interest rate to as little as 2 percent, extending the repayment term to as long as 40 years.

The reduced interest rate will remain in place for five years. After that period, the interest rate can only go up to a capped current market rate based upon the day the modification is effective per Freddie Mac’s weekly market rate survey. Currently the maximum the rate could reach is approximately 5 percent.

“Our goal is to have delinquent customers or those who are current but know they are going to have trouble making their mortgage payments to receive timely financial assistance to lower their payments through a modification or some other means,” Goyda said. “We’ve hired and trained more than 5,800 additional employees this last year in our home-retention department to address the increased demand.”

Wells Fargo was among the lenders criticized early in the process for not modifying enough eligible mortgages.

The HAMP process generally consists of a homeowner contacting his or her mortgage provider. Home-retention specialists ask questions and request documentation to determine qualification.

Upon preliminary approval, a homeowner will be placed on a three-month trial with a lowered monthly mortgage payment while the documentation is processed and reviewed.  The deadline to participate in HAMP is Dec. 31, 2012.

“We are making many of the HAMP forms available online and many can be signed and forwarded with an electronic signature to expedite the process,” Reilly said.

Once final approval is received after the trial period, the HAMP applicant will receive documentation in the mail outlining all details. Since this program is still in its infancy, a two-month trial period extension is possible if needed to provide all documentation. To avoid scams and people asking for a fee go to www.makinghomeaffordable.gov

Contact me today if you or anyone you know needs real estate help.  e-Mail michael.hughes@sothebysrealty.com Direct 303-359-6627 Website:www.bolderrealestate.com

Thanks for reading my blog.  I try hard to respond to every email I receive, but I receive more and more every week.  It is getting hard to keep up.  I started a forum that will address tenant debt and tenant screening issues to help answer the commonly asked questions.  Please help me get the forum off the ground by registering and posting your questions.

The forum url is: www.theinformedlandlord.com

Thanks,

Bill Gray

Bill@thelandlorddoctor.com

www.thelandlordoctor.com

Tekkonkinkreet (2007)
★★ / ★★★★

Based on a manga by Taiyo Matsumoto, “Tekkonkinkreet” was about two children aimed to protect their city from people who either wanted to change the city for the better or demolish it altogether to build an amusement park. Although the medium is animation, the story is not for children because it is very violent and the issues it tackles are geared more toward adults. While I did admire its ability to take risks, it did not completely work for me because it started out as a story grounded in reality but elements of the paranormal or fantasy somehow was added into the mix. It became really confusing, especially toward the end, not only because the movie simultaneously showed events that were actually happening in the real world, it also showed what was in the characters’ heads, and possibly scenes of the future. Perhaps the reason why I didn’t quite get it was because I needed more background information. But then again I always judge a film as a stand-alone piece of work; it should be able to hold up without having to read the source from which it was based on. Undoubtedly, there were some positive things such as the intense chase scenes and the imagination embedded in the metaphysical and surrealistic scenes. Directed by Michael Arias, I wish “Tekkonkinkreet” had less visual stimulation and instead worked more on its emotional resonance. I was interested in the two main characters’ relationship with each other and their society. It would have been a great opportunity to explore how their role as homeless kids, who had to steal from citizens and live in an abandoned car, was directly affected by cops who really cared about their well-beings (and vice-versa). What I love about animes and animated features in general is that it is limitless when it comes to giving its audiences images and emotions. However, there are those animes that simply fail to get me to care or keep my attention due to that lack of balance between the two. Unfotunately, this film is one of those animated pictures that left me bewildered in a negative way.

So it’s been a little while since my last post….(Eeek!) Summer always seems to have that ethereal quality where it slips right through your fingers just as you become consciously aware it’s there in the first place. Next thing you know, you’re singing November Rain without the slightest bit of irony and wondering what the heck happened to the last few months. Luckily for me, quite a bit. My adventures took me to Switzerland, Italy, Boston, Montreal, Ottawa, and, more locally, to grand evenings at Toronto LG Fashion Week, TIFF, HotDocs (technically in spring, but whatever), a few art/club openings, and the Toronto International Art Fair. Some back-blogging may be in order, but if I’m lucky there will be plenty more adventures to come and to blog about. *Crosses fingers*

One thing I definitely learned this summer is if you miss your chance to do something once, sometimes fate will let you do it again. Case in point: Scotch Whiskey or Why I Hate Bees But Today, a Little Less or Thanks to Matchstick The Macallan is the Sweetest Revenge. Subsequent blog post to come in the next 24, I promise.

In case you are curious, here’s a series of randomly selected BlackBerry photos from Summer ‘09: Click Me! I lost my real camera on top of a mountain in Switzerland so please excuse the pixelation…

The poor economy has caused landlords and property managers to take drastic measures to lease units and keep them occupied. Some of the measures are understandable, considering the circumstances, but others make absolutely no sense at all.

This week I reviewed approximately 80 files from previous tenants who left a large residential property in Sarasota, Florida, owing money. I sat with the manager and discussed how the residential housing market has been turned on its ear, and in some ways seems to be in a downward spiral. I noted that not only had the number of debtor accounts more than doubled, the amount of the average debt had increased by at least a third.

The manager explained that the property had tried to increase its occupancy by allowing tenants to try and work out payment arrangements. As I looked at her over this mountain of files, I asked her, “How did that work out for you?” She understood my sarcasm and explained that the owners of the property had pressured her to do something to keep their residency rates up. She agreed that allowing tenants to pay late had only delayed the inevitable and increased the amount of bad debt the property must now write off.

I would argue that in such cases, if closely analyzed, the cost is actually even higher. The tenants she allowed to get behind on rent grew accustomed to management’s tolerance. When she finally drew the line and required payment, she was then often forced to file eviction proceedings before these tenants would leave the property. The cost of filing these evictions must be added to the lost rent and damages, etc. What if she had evicted the tenant after the very first month the rent was not paid and found a new tenant that did pay the rent on time? I realize this question is easy to ask in hindsight, but it is a question that should be asked when these kinds of management changes are considered.

I explained to her that not only had the new policy cost the property money in bad debt, the policy had also made the debt less collectible. As the amount each debtor owes increases, so do the odds that they will never pay. The amount becomes so high that many debtors will simply throw up their hands and live with the debt, rather than come up with a plan to pay it.

I understand that these are very trying times and difficult decisions must be made; but please make decisions with your eyes wide open and with an understanding of what the subsequent consequences could be.

Contact me with your tenant debt and screening issues.

Bill Gray

http://www.thelandlorddoctor.com

Bill@thelandlorddoctor.com

Many are lead to believe that you need to hire a professional or an expert in credit repair.  With the all the available technology around you, you don’t need to expend more than what you need to do some credit restoration.  Here we will discuss tips on how you can troubleshoot your own credit problems without hiring someone to do it for you.

Update your credit report

In order to keep tabs on what you need to be fixing, it is advised that you keep an updated yearly report of your credits.   This will also help you see if you have to do some preemptive actions to prevent any future credit problems.  You can order your credit reports order via registered mail with return receipt request to Equifax, Trans Union, and TRW.  It would be advisable to give the request to all three bureaus for some creditors only give their reports to one bureau — and these bureaus typically do not share credit information with each other.  It may take some time for you to get your credit report, so be patient.  You can request through a third-party and you can get your report immediately.  However, you will have to spend some extra money, so only do so when you’re in a hurry.

Carefully Read Your Credit Report

Go through every word, every sentence, and every paragraph in your credit report thoroughly.  Painful it may be, it is your job to go through your own credit report and immediately call attention to any discrepancy that you may find.  What you get from the credit bureau is only what they have been given by your creditors.  That means, you may get some inaccurate information that you may need to dispute.  Document any inaccuracy that you may find, and state why it is erroneous.  Have it duplicated and send a copy to the credit bureau concerned with marks or highlights on the data that you wish to question.  Include any supporting document that you may need to back up your dispute.

Solve your credit problems

Always keep in contact with your creditors to keep your account active.  Inform them if you cannot pay for your credit on time and negotiate a way to extend the deadline.  Then again, this may result to an increased expense on interest rate, and can only be used in a short-term basis.   The advantage is you will avoid getting marked as a delinquent in your credit report.  Pay off your debts one at a time, and manage which one needs to paid immediately, and which one can be delayed.

When all things fail, it’s always a big help to have an active savings account.  This way you have some back up to help you when you’re in a deep end, as well as give a statement to your creditors that you’re also saving and not just spending.

Without any sign of worry or despair, he would joyously game away as the days pass on with a speed of a zooming bullet. Occasionally, when the absence of his gaming peers kicks in, he would turn to movies, animes, or simply the popular YouTube.com. That’s how a typical day of his life is like, and much to everyone’s expectation, for the past thirteen months and counting.

Fearlessly, the thirty-odd-year-old adult chose to waste his life away by making uncalculated and thoughtless purchases with his credit cards several months back. Perhaps he was confident that his worthless diploma will land him a reputable job after his last one was lost in September 2008. Or maybe he just wanted to vent his frustrations. In any case, as with the misguided purchase of an old car some years back, he showed no sign of repentance or remorse.

His current debts to banks stand at more than twenty thousand Singapore dollars, of which at least eight thousand owed to one of his siblings. He is now ready to enter himself into the infamous list of bankrupts.

Unemployed, and with no money, he would wake up everyday in the afternoon to face the computer screen till he retires for the night in the wee hours – absolutely with no consideration to the poor soul staying in the same room who needs to wake up early to work. His parents you asked? Well, they decided that they will provide him with meals, cigarettes, and his Internet subscription; enough reasons for him to continue with this kind of life. What more can one asks for?

His life in 2010 is pretty much foreseeable, with the same activities day in, day out. Come to think of it, I don’t think he even remembers the last time he stepped out of the house beyond a kilometre.

Dateline Jinju:

Another Korean middleschool juvenile delinquent in the making.  Today in Jinju a Korean middle school student set fire to his school.  (I guess the pressure from the High School Entrance Exam was getting to much for him.   Or maybe he is training to be another  storied protester.)

The student was burning his exams and threw it on the floor, the fire grew even more as the other students papers were being caught on fire.  The other students stomped out the fire. 

We all know how much Korea likes matches.  (Nam Dae Mun Fire,  Daegue Subway fire and Henderson Fire.)  He received a verbal warning for this action.  I guess the teacher wanted the school to burn down too. 

In related news all E-2 visa holders are to be searched for any inflamiary devices before being allowed into the school. 

One year, Gumi ended up in 2-D. With Icarus and Shuichi.

Usually, Shuichi and Icaurs would band together and terrorize together, but this year, they decided to mix it up a little, and so pretended they hated each other. Of course, once Gumi found out about it, she insisted on joining in, too. So, there was a three-way delinquent war in the school that year. And, as it usually occured, no one remembered why it had started in the first place. (It was an argument over ramen flavors: Shuichi said chicken, Icarus said seafood, and Gumi said neither.)

So, Shuichi gathered all the chicken-loving boys on his side, and Icarus gathered all the seafood-loving boys on HIS side, and Gumi just got all the girls from 2-D on her side. Because they didn’t want to side with the boys. Their day began with them sitting at their kitchen table amicably (because, really, it was all for show. Maybe they had been around Shin and his dramatic tendencies a little too long.), and walking together–if in relatively long distances apart from each other–to school. When they got through the gate, however, Gumi would start glaring, and Shuichi’s lips would twitch as if provoking her, and Icarus’s face became menacing.

Then, Shuichi and Icarus would fight, (because neither one of them would hit a girl) and Gumi would come and beat them up anyways. And this all happened before the first bell had even sounded. When it came time to class, that was interesting too. As soon as the teacher would walk in, one of them would stand up suddenly, banging the desk loudly and demand something of one of the others. Today, it was Shuichi’s pants.

“GUMI! YOU LITTLE–” he cut off as the teacher let out a squeak, “GIVE ME BACK MY BASKETBALL SHORTS!” Gumi glared back, slamming her own desk, and screaming back.

“FINDERS KEEPERS!” Gumi replied, sticking her tounge out childishly, “and it’s your fault you NEVER WASH YOUR OWN CLOTHES!” Around Gumi, there were murmurs of assent from the girls.

“Well, your laundry would never pile up if you actually did some of it once in a while!” Shuichi shot back. There was agreement from the chicken boys. Gumi glared again, and that was about when the teacher sidled out the door, praying for her life and wondering if it was too late to go back to being a waitress. Yes, that was a nice, safe career.

“IT’S NOT EVEN MY LAUNDRY!” Gumi shrieked, as the door shut. Slowly, Icarus stood up, and cleared his throat.

“Technically, Shuichi, if you leave out your basketball shorts, they’re fair game. And Gumi, you’ve been doing the laundry since you were little. It’s kind of your job now,” he informed them. They both turned, and glared.

“SHUT UP TAKEDA,” they roared together. Icarus glared, and joined in on the fight, which turned into an all out fist-fight before they were all sent to the principal’s office and yelled at.

Meanwhile, on the roof, Shin, Yume, and Hito, who were the only good children left in the Takeda family, (except Hito, he tended to be scary, but teachers loved him anyways) sat and had lunch. Gumi had made little cucumber sandwiches this morning, out of the uncrusted bread (Icarus strangely only ate the crusts) and the cucumbers Shuichi had sliced. Yume thought they were cute, and had packed tea to go along with them.

Lunch was almost half over when they saw their three rowdy siblings–or rather, heard them.

“Suspension is a stupid punishment,” Shuichi was scowling. Gumi shrugged.

“Well,” she said, “at least we won’t have to work then.” She said, sitting down next to Hito, who handed her a sandwich.

“That was a lousy punch, though, Gumi,” Icarus mentioned, quickly placing a kiss on Yume’s forehead, “you hit like a girl.”

Gumi glared.

“I AM A GIRL YOU IDIOT!”

A National Institutes of Health sponsored study find that communities, which use science-based approaches, can significantly reduce adolescents’ problem behaviors, including tobacco and alcohol use and delinquent acts, up to 33%.

For the study, 24 small and medium-sized towns in seven states were randomly divided into 12 towns that implemented the “Communities That Care” activity (https://preventionplatform.samhsa.gov/) and 12 similar towns that did not. The CTC work started by targeting children in the fifth grade. By the eighth grade, CTC community children were 32% less likely to have begun using alcohol, 33% less likely to have started smoking or begun using smokeless tobacco, and 25% less likely to have started delinquent behavior, according to their self-reports on surveys.

Click here for more information on the study conducted.

Condo associations can collect the full assessments that are due them from absentee owners and units facing foreclosure. It is true. This is happening.

Some Florida courts understand the Condo Crisis and are giving Receivers the authority to collect rents directly from tenants, before the money has a chance to reach the owners, and then using it to pay the condo assessments FIRST, before the unit owner has a chance to get his hands on it.

This is an extraordinary solution prompted by extraordinary times. Florida’s condo statutes were not written to give Associations the power to enforce payment of assessments even in the face of an overwhelming number of foreclosures and the pressures felt by investor-owners struggling to stay out of foreclosure.

Receivers, court-appointed for no other purpose than to collect rents from tenants, can step in. Once the money is in their hands, Associations get paid first; well, almost first. The Receiver takes his fees off of the top, then pays the Association second. If money is left over after these dues are paid, the unit-owner gets it.

The plan is working, bringing financial health back to condo associations and stabilizing property values.

One of our Clients has implemented Advanced Collections and is running their strategies at ‘Account Level’. To manage the collections activities proactively, they felt the need of notifying the Collectors in advance of some high dollar amount invoices that would get due in the next ‘x’ number of days. The Collectors can then give a pre-delinquency phone call to the customer to check if all is fine and if they can expect the payment on or before the due date. This would help them in better Collections. If there are any issues like Invoice not received, Error in Billing or any other issue, they can get it resolved well in advance. The need was for a fully automated solution that would create a task to notify the collectors and the collectors can access and work on their task from their Collections Work Queue.

This document describes how we created tasks for ‘Pre-Delinquency Calls’ and assigned the tasks to the Collectors. Click here to read about our solution

[ Keywords: Advanced Collections, API, Delinquency, Deleinquent, JTF, JTF_TASKS_PUB, Tasks ]

Strange things seem to be happening to my kids lately. Strange as in:

1. Possibly being possessed by ADD alter-egos
2. Morphing into a skeleton-free mass of squishy flesh and falling to the floor in front of perfect strangers [we'll re-visit this]
3. Running through public places as though their skivvies are filled with miniature fire-breathing dragons
4. Listening and obeying with the acuteness and precision of Helen Keller in her pre-Miss Sullivan years

Oh, Holy Holy Holy.

What am I to do but lose my everloving mind?  I should consider consuming mass quantities of chocolate-based desserts in the dark.  While chain-smoking and rocking back-and-forth, humming Danny Boy.

Tonight I about came unglued.  Luckily, I have perfected the art of disciplining my children with a fake smile on my face so the store video cameras don’t see some crazy lady in aisle ten who needs to be turned over to CPS.  This proved to come in handy…

We went to Target to get a prescription filled and had roughly fifteen minutes to kill while the pharmacists added watermelon flavoring to the magic elixir.   We trolled the floor for a bit finding things we never knew we needed, but now want desperately for Christmas.  As we approached the sporting goods area, however, I realized that M, my nearly-four-year-old, was no longer in our caravan.  Great.  I thought.  The store was packed and there I was walking up and down each aisle calling his name.  People looked at me like I was just a delinquent or quite possibly a leper, but I plodded on.  After a few minutes and no sign of WonderBoy, I asked my two other children to look in the next aisle over to see if they’d have better luck.  This proved to be a mistake, as they seemingly wandered into the next zip code, disregarding my appeal to stay in the neighboring aisle.  At the same time, thankfully, I located M, sweatshirt hood on, running away from me in the other direction.

What a little angel, that child.

I caught up to him, squatted down to his level and squeezed his hand while telling him how scared he had me, and how his brother and sister were now out on their own mini-search-party-gone-wrong.  I could see that my speech was really hitting home.  Just really–really impacting his heart.

He stared at me, smiling and stomping his left foot.

I spun on my heels and went to look for the other two, carrying my shopping basket in one hand and M’s hand in a deathgrip with the other.  I returned to pacing the aisles, this time calling different names but getting the same steely-eyed glare from other, much more gifted parents.   This one guy seemed to fling his gaze my way as if to say, “Great parenting, lady.  Ever heard of Jo Frost?  Supernanny?  Yeah–get her on speed dial.  NOW.”

We abandoned the housewares section with no trace of J or A, and headed toward the toy department still shamelessly calling their names in high volume.  [Such a picture of control and ease, isn't it?].  I saw a flash turning the corner ahead of me and thought for sure it was my son’s jacket!  We hightailed it toward the toothbrushes, M dragging like a rag doll striving to keep up with my pace.

I called their names again.

The man at the electronics counter turned to meet me.  “Can I help you find something, Ma’am?”

“Yeah–my kids.” [Again--control and ease]

Finally I caught up with them and knelt down to hug them both.  Yes, it had only been 5 or 10 minutes, but have you seen the cover of People Magazine this week?  The kidnapping stories have been flying around like monarchs in Mexico, and I’d be lying if I said the corners of fear hadn’t started to wrap around my heart.

~~Fast forward to our Exit~~

With watermelon prescription safely paid for and in a bag with three new glass picture frames and some Pull-ups, our crew headed for the door with fresh promises to “get a grip” and “listen to mom” still hovering in the air.

Apparently I need to define get a grip.  I’m sure there must be a Bible verse for that somewhere.

M, my aforementioned little angel, went running ahead of me, flying past the refrigerated section and stopping to violently open and slam each door.  I was ready to chuck my picture frames on the floor and let the glass shatter like the screams I wanted to unleash, when I looked up to see the Jo Frost guy.  Awesome.  What classic, perfect timing.

Instead of screaming, I calmly affixed my fake smile for the cameras, set down the bags, and reached out to grab his sweatshirt.  He fell to the ground like a slug, twisting to release himself, and it just pissed me off strengthened my resolve to be a loving, yet stern parent who is not controlled by emotion–but rather, by rational thought processes.

So what did I do?

I told him that he was not obeying and that he was acting like a baby.  And so, I would happily treat him like a baby by making him revert to diapers at bedtime instead of his new pull-ups.   And let me tell you, it’s amazing how much “big boys” want to be treated like “big boys” instead of babies.

I hope he sleeps soundly tonight.  Those size 4’s are a tight fit…

A vital part of tenant screening requires more than learning about applicants, their employment and credit history—it’s learning everything you can about their previous rental history. Yes, former landlords who have rented to this tenant before have a wealth of information which should be weighed carefully before you approve an application.

Think about it. For six months or six years, former landlords have received or not received payments from your applicant. They know how the tenant left the property and about any complaints made when they leased it.  Their file and recollection can provide you with more insight than you’ll find by calling employers or ordering a credit report.

Start with the end in mind and weed out any applicants who might not treat your property with a gentle, kind, and caring hand. Was their former landlord impressed with the condition and cleanliness of the property when the tenant moved out?  Or were they overwhelmed and disappointed with the lack of attention and personal consideration they showed by leaving the unit a mess?

Screening former landlords can reveal much more, though, and the information you gain is worthy of your time. Does the tenant have a history of short-term housing, indicating problems with payment or other terms of the lease? Was the tenant a nuisance to other tenants? Did the tenant honestly disclose past information to previous landlords, and did that information hold true?

I should note here that all applicants are not Honest Abe.  Dishonest applicants know that telling the truth on applications could hurt their chances of being

accepted—as it very well should.  So, they come prepared, armed with a list of references, addresses and phone numbers—of imposters. I’ve seen cases where tenants provide false names or contact information for previous landlords, steering potential landlords to friends or family members who agree to aid and abet them in their quest for housing. For that reason, you might want to ask more specific questions—like how many units do you have, please verify the applicant’s social security number so I know we are talking about the same person, and can I have the name and address of another tenant so I can ask them for a written reference for this tenant.

By asking more questions, you’ll be able to do a better job of determining whether this landlord is legitimate—or not. In addition, be aware of legitimate landlords who will tell you exactly what you want to hear because they will do anything, including lie about a tenant’s past, just to get rid of them. So, suffice it to say that while screening should include interviewing former landlords, it should be considered just one piece of the whole and weighed accordingly.

The American Apartment Owners Association www.aaoa.com recommends landlords ask these questions when talking with the current or previous landlord:

1.            What was the tenant’s payment history?

2.            Did the tenant give sufficient notice according to the lease?

3.            Did the tenant fulfill all of the terms of the lease?

4.            Did the tenant give a reason for moving?

5.            Were there any complaints from neighbors about the tenant?

6.            Would you rent to this tenant again?

Most landlords stick together, understanding the difficulties and headaches caused by bad tenants. If you’re lucky enough to contact one who is willing to honestly divulge information, you’re a step ahead of the game. Their glimpse into the tenant’s past can play a vital role in helping you to determine whether a tenant will pay their rent on time, fulfill the terms of their lease, and take proper care of your property.

It is worth the extra effort to screen applicants, and just as important to screen their former landlords. When you do, you can save yourself a lot of time, effort, money, and elbow grease when you part ways.

Email me with your tenant screening questions.

Bill Gray

Bill@thelandlorddoctor.com

www.thelandlorddoctor.com

Freddie Mac has contracted Titanium Solutions, a third-party servicer, to go to the homes of delinquent borrowers to get the missing information and documentation necessary to start three-month long trial repayments under the  Home Affordable Modification Program (HAMP).

“By meeting with our borrowers, one on one, Titanium Solutions can help them overcome the roadblocks keeping them from starting their Home Affordable Modification trial periods,” said Ingrid Beckles, Freddie Mac senior vice president, default asset management.  As a fraud prevention measure, Titanium representatives will not be allowed to accept mortgage payments or any other money from borrowers, Freddie Mac said. Representatives will also carry a copy of the solicitation letter the borrower initially received from their servicer, which contains unique information about the borrower’s loan.

In addition to the door-to-door campaign, Freddie Mac sends representatives to foreclosure mediation events put on by the Treasury Department and has hired Home Retention Services, a subsidiary of Stewart Lender Services, to process the backlog of modification applications from distressed borrowers with Freddie Mac mortgages. Home Retention Services will assess the eligibility of delinquent borrowers with Freddie Mac-owned mortgages for Home Affordable Modifications or other possible workouts and process borrower financial information for the servicers’ review and approval. While the new initiative will supplement the capacity of participating servicers to process loan modifications, Beckles emphasized that “borrowers should continue to call their servicers first to determine the best solution for their situation.”

Potentially eligible borrowers identified by a participating Freddie Mac servicer will receive a letter from Freddie Mac asking them to call Home Retention Services using a proprietary toll-free number. The letters will be specially formatted and include unique borrower PIN numbers to protect borrowers from counterfeits produced by fraud artists.

Home Retention Services will work with the borrower, assess their eligibility for a Home Affordable Modification, complete the documentation and income gathering processes, and advise the borrower of their proposed modified payment. Home Retention Services will forward the completed package to the servicer for final approval. The borrower’s Home Affordable Modification trial period begins once the servicer approves the modification and receives the borrower’s check for the new monthly mortgage amount.

Home Retention Services will also advise borrowers of other Freddie Mac workout options if they don’t qualify for Making Home Affordable.

No, Pandora Hearts is not mine.

One week since the last episode of Pandora Hearts has passed. And to get my weekly Pandora Hearts fix, this is a good time to make a post about it.

I really love this anime. And I’ve read in several places, that people actually stopped watching this anime after first episode. I agree, the first three eps weren’t all that great, but I was determined to continue watching it. And I must say, I am glad I did.

The story got really interesting. And like all animes I find great, I started reading the manga. And to be honest, I love the manga even more. I noticed some differences between the anime and manga, but nothing that would effect the storyline, which I really liked about Pandora Hearts.  But the end…

Fillers. I hate fillers. Of course there are exceptions (PoT, current Bleach arc & KHR arc). I do understand why the last two episodes were fillers, I mean, suddenly ending after they’ve learned about Alice, the Will of the Abyss and Break would be kinda weird.

But the way it ended, didn’t give me a feeling of a second season coming up.
1. Oz is going back to the Bezarius household, where he finds out who threw him in the Abyss. Which manga readers just found out a chapter ago. And I must say, the manga gave a much greater impact on me, than the anime.

I only made this screenshot because of Jack XD
Anyway, Break and Sharon were talking about Oz’s powers and rumors saying Oz is Jack’s reincarnation.

It’s kinda scary and lol at t he same time XP

The memorable place where Oz got rejected by his father.

Gryphon, the Bezarius’ chain. The same thing that threw him in the Abyss (see ep1) and with whom his father made a contract with.

Break coming out the closet, like always~

Oz being depressed.

And realizing that his father will never accept him.

And after 25 episodes, it would be weird if I didn’t know you were Oz Bezarius.

2. Oz decides to go to Sabrie, just as I’d expect. But Break allowed him to go and even went along. Well, I guess this isn’t so bad, considering it’s a filler.

I’m glad Sabrie looks broken down like in the manga.

3. Oz meets his father. And he actually made a statement which fits very well in an anime with an open ending.

For a minute there, I though it already made a completed circle and Oz would die D=

From this, he doesn’t look that old…

Here I almost thought, they’d kiss. But knowing Alice, that wouldn’t happen.

What I’m trying to say is, I just don’t see a second season coming up. Then again, I didn’t see a season 2 of Kuroshitsuji coming. But if there’s a second season, it won’t be here anytime soon because of the lack of manga material, and they’d probably change some major things.

Anyway, I enjoyed watching this anime.And surprisingly enough, I actually enjoyed watching the last episode. But I was somewhat hoping that the festival chapter would be animated. The Oz/Echo moments were just adorable <3

And I am shocked by the lack of “OMG! I love Jack/Elliot!! <3″ in this post. It must be because the lack of them in the last few episodes D= But I really do love them!

And because the 3rd special episode was just wonderful, I made some screencaps of it. And I tell you, I love the animators for actually making this XD
I actually made around the same amount of caps of a 4 minute special as episode 25 ><

D’aww~ It’s too embarrassing for hetare Gil to say it, whatever he was supposed to say XD
It was hard not to make more caps of this moment ><

The typical shoujo shounen-ai meeting between the canon pairing.

Oh Gil~ You’re more pervy than I expected you to be XD

OMG!! The made my Jack a deliquent! I love it! Even if it doesn’t fit him at all XD
I wouldn’t expect less from Alice and I guess Vincent too =p

You bad bad Gil~ XD

Jack in tennis clothes *_* Those animators just know about my Prince of Tennis and Jack obsession XD
And why the heck is Oz wearing a skirt ><” Jack’s better not wearing one too…

Kidnapped hetare Gil~

Being a delinquent doesn’t fit Jack at all XD And I’m guessing Break is a teacher as well XD
And why is Alice wearing a male uniform ><

Oz to the rescue

Vincent looks evil all right, and Oscar seems so out of place XD

d’aww~

No, not yet…

I love vincent just for his brother complex and looks

And now, it really ends D=

This is a super old vector that I did about 2 years ago when I first started vectoring. Its really basic but I still think its dope. Enjoy!

Of the 20 to 30 emails I receive per day from landlords with tenants who owe them money, 5 or 6 are from landlords who did not screen their tenants before they rented to them and are now upset that the tenant burned them.  I shake my head when I read these requests for help.

For whatever reason, the landlord rented to someone who “looked okay” and then got upset when the tenant burned them.  Would these landlords buy a used car sight unseen?  Or show up at a dog shelter and say, “give me any dog, I don’t need to see it or know anything about it.”?  Of course they wouldn’t.  As absurd as this sounds, it is basically how they run their rental business.

As I scratch my head I always wonder why.  Do they just not know how to screen?  If this is the case, I am happy to help educate them on good business practices that will help them reduce the possibility of a tenant burning them, or help collect any debt that could not be foreseen.  Most of my articles emphasize the good business practices landlords should use to minimize tenant debt.

The cynic in me says that a certain percentage of landlords who run their business sloppily, just don’t care who they rent to.  The only advice I can offer these types of landlords is, “good luck”.  That pile of debt you are writing me about is the by-product of the way you run your business.  There is nothing I can do for you other than to ask you to reconsider how you go about being a landlord.  To continue running your business as if it were a hobby will continue to cost you money and possibly get you sued if you violate the law.

Maybe they don’t want to spend the very small amount of money it costs to screen a tenant.  Seriously?  You don’t want to spend $20 to screen, but you are writing me for advice about the $6000 your tenant owes you?  Think about how ridicules this scenario sounds.

As I have published in other articles, I do not consider myself a landlord or tenant advocate.  I encourage landlords to run their businesses legally and in a way that minimizes their risk. I also expect tenants to pay their rent and take care of the property they are renting.

Please email me your questions and will try to help you.

Bill Gray  Bill@thelandlorddoctor.com

www.thelandlorddoctor.com

THIS ARTICLE FROM DISTRESSED PROPERTY INSTITUTE EXPLAINS THE CHOICES HOME OWNERS HAVE TO AVOID FORECLOSURE ON THEIR PROPERTIES.The current U.S. housing market and financial crisis have
caused tremendous stress and heartache for families across
America. During times like these, there are always a certain
percentage of homes or homeowners who are distressed.
According to the Mortgage Bankers Association®, as many
as 1 out of 10 homes are either delinquent or in foreclosure,
and unfortunately, 7 out of 10 homeowners in foreclosure
proceed without the assistance or advice of real estate
professionals or mortgage representatives. If you or someone
you know is among the millions of people affected by the
prospect of foreclosure, understand that you have options.
Be sure to talk to a professional to find the best option for your
specific situation.
• Reinstatement
To reinstate a mortgage,
the homeowner has to pay
all the missed payments,
late fees and legal fees that
are due up to the date that
the loan is reinstated.
• Forbearance or
Repayment Plan
The lender allows the
buyer to pay the missed
amount over a period of
time or the lender places
the missed payments on
the end of the amortization
of the loan.
• Rent the Property
In some cases, homeowners
facing foreclosure will have
payments low enough to
allow them to rent their
property and keep up their
mortgage payments.
The Basic Foreclosure Process…
Avoid Foreclosure… For Homeowners to
1. Default—homeowners must miss a payment or default on payment for the property to enter the foreclosure process.
2. Legal Notice—the lender of the foreclosing property must notify homeowners that they are entering into the foreclosure process.
3. Bank Sale or Auction Date—homeowners are informed that they have a bank sale or auction date at which point the foreclosing
mortgage company will gain control of the property.
4. Redemption Period—the period of time in which homeowners may present payment to the bank and regain possession of
their property. (Not all states have a redemption period.)
For more information, contact your real estate agent or mortgage representative.
• Short Sale
When homeowners owe
more on a property than
it is currently worth and
one of the previous
solutions does not apply
to their situation, there
is the option of pursuing
a short sale (see reverse
side for more information).
• Deed-in-lieu of
Foreclosure
A deed-in-lieu of
foreclosure is sometimes
referred to as a friendly
foreclosure because the
homeowner essentially
gives the deed back to
the bank.
• Bankruptcy
A bankruptcy may stop
a foreclosure and allow
homeowners to reorganize
their debt and keep their
property.
• Servicemembers Civil
Relief Act (SCRA)
This law provides
certain protection to
military personnel who
are in foreclosure in
specific situations.
• Sell the Property
If sellers have equity in their
property, they can sell it and
prevent a foreclosure.
• Refinance
If homeowners have sufficient
equity and income and their
credit has not been too badly
damaged, they may be able
to refinance.
• Mortgage Modification
A loan modification is very
similar to a lower interest
refinance where the lender
lowers the interest rate on
the existing loan to lower
the payments.
• Short-refi
This process involves the
refinance of a home with
a reduction in the principal
balance and often the
interest rate as well.
Options
1 out of 10 homes
are either
delinquent
or in foreclosure.
© 2009 Buffini & Company All Rights Reserved. Used by Permission. CDPE Bonus IOV
Source: Distressed Property Institute, LLC, www.cdpe.com. Reprinted with permission.
In the past, it was rare that a bank or lender would accept a short sale. However,
due to the overwhelming market changes, lenders have become much more
negotiable when it comes to these transactions. Recent policy changes within
many organizations have made the chances of getting a short sale approved
even higher.
The following information describes the short sale process:
• Homeowners are “short” when they owe an amount on their property that is
higher than the current market value.
• A short sale occurs when a negotiation is entered into with the homeowner’s
mortgage company to accept less than the full balance of the loan at closing.
A buyer closes on the property, and the property is “sold short.”
Issue Foreclosure Successful Short Sale
Future Fannie Mae Loan
Primary Residence
(Effective May 21, 2008)
A homeowner who loses a home to foreclosure is ineligible
for a Fannie Mae backed mortgage for a period of 5 years.
A homeowner who successfully negotiates and
closes a short sale will be eligible for a Fannie
Mae backed mortgage after only 2 years.
An investor who successfully negotiates and
closes a short sale will be eligible for a Fannie
Mae backed investment mortgage after only
2 years.
A short sale is not reported on credit history.
There is no specific reporting item for a
“short sale.” The loan is typically reported
“paid in full, settled.”
There is no similar declaration or question
regarding a short sale.
A short sale on its own does not challenge
most security clearances.
An investor who allows a property to go to foreclosure is
ineligible for a Fannie Mae backed investment mortgage for
a period of 7 years.
On any future 1003 application, a prospective borrower will
have to answer YES to question C in Section VIII of the
standard 1003 that asks, “Have you had property foreclosed
upon or given title or deed in lieu thereof in the last 7 years?”
This will affect future rates.
Foreclosure is the most challenging issue against a security
clearance outside of a conviction of a serious misdemeanor
or felony. If a client has a foreclosure and is a police officer,
in the military, in the CIA or any other position that requires
a security clearance, the clearance will be revoked and the
position will be terminated.
Only late payments on a mortgage will show
and an after sale mortgage will be reported as
paid or negotiated. This will lower the score
as little as 50 points if all other payments are
being made. A short sale’s effect can be as
brief as 12 to 18 months.
Score may be lowered anywhere from 250 to more than 300
points. Typically, this will affect a score for more than 3 years.
Foreclosure will remain as a public record on a person’s credit
history for at least 10 years.
Future Fannie Mae Loan
Non Primary
(Effective May 21, 2008)
Future Loan with any
Mortgage Company
Credit Score
Credit History
Security Clearances
Foreclosure vs. Short Sale
Homeowner Consequences…
Short Sales What You Need to Know…
Source: Distressed Property Institute, LLC, www.cdpe.com. Reprinted with permission.

eModifyMyLoan gives you the tools you need to handle the loan modification process directly with your lender from the comfort of your home, without hiring an expensive modification company. Simply fill out the online form and then e-mail, fax, or print out and deliver your eModifyMyLoan package to your lender for consideration.

Why Pay a Loan Modification Company Thousands of Dollars When You Can Do it Yourself?

Struggling to make your mortgage payment? Then negotiate a lower payment with your lender. With eModifyMyLoan, you can create a complete loan modification package for your lender in less than an hour. YOU DON’T PAY UNLESS YOU ARE 100% SATISFIED. IF YOU’RE NOT COMPLETELY SATISFIED, THEN IT’S FREE.

Why Choose eModifyMyLoan

If you are looking for a way to lower your monthly mortgage payments or avoid foreclosure through a short sale negotiation, you have three basic options:

1. Pay a professional
2. Research and submit the information yourself
3. Use eModifyMyLoan to generate the required paperwork

Which Solution is Right for You?

Some consumers turn to attorneys or loan modification companies to help them through the process. On average, you can expect a $3,000 fee to process your paperwork, which will include creating the documents and representing you with the lender. There is no guarantee of success and many lenders do not treat the paperwork submitted by these organizations with any more priority than they do the documents submitted by individual homeowners.

Some consumers have opted to attempt the process on their own and have quickly become frustrated and overwhelmed. Because many lenders are swamped with phone calls regarding loan modifications and short sales, they often do not return calls from borrowers, even though they may be on the brink of falling behind on their payments. Some banks have limited days and hours of when you can call and request loan modification companies, while others prioritize their responses to only homeowners that are seriously delinquent or verging on foreclosure. As a result, if you are struggling financially but have not yet fallen behind on payments, you may never receive a return call.

The third option is to use eModifyMyLoan. With the online solution, you are guided through a series of questions to easily create the proper loan modification package and calculate the mortgage payment that you can afford. By supplying the lender with the complete eModifyMyLoan package with all of the necessary paperwork, including your personal finance statement and hardship letter, you increase your chances of more quickly achieving your goal of easing financial pressure. Cost to purchase is $129. Plus, it is backed by a 120-day guarantee.

Choose eModifyMyLoan today for an affordable way to undertake the otherwise daunting task of improving your financial situation with a loan modification or short sale.

Irgendwo in den umliegenden Haeusern sitzt er mit geladenem und entsicherten Praezisionsgewehr hinter dem spaltbreit geoeffnetem Dachfenster und wartet auf den Delinquenten. Wenn sich ein Verdaechtiger dem 25×1,25m grossem Wegrandbereich naehert, dessen Rasen von dem Sniper kunstgerecht und voller Leidenschaft beschnitten wird, beginnt sein Herz heftiger zu schlagen, sein Zeigefinger bewegt sich vorsichtig, ganz behutsam, bis er den kalten Stahl des Abzug spuert. Er hat eine Laserpoint-Visierung auf der Waffe montiert, eingeschossen ist sie auf exakt 57 Meter. 56 Meter betraegt die Entfernung zwischen Zieloptik und Strassenrand, er hat sie mit einer Maurerschnur ausgemessen, einen Meter hat er hinzugerechnet, weil er die meisten Schisse naeher am Acker-, als am Wegesrand festgestellt hat.

Seine kleine Rasenflaeche ist eine gepflegte Kleinstinsel zwischen Stoppelfeld und staubigem Weg, rund um die von ihm gehaetschelte Enklave aber herrscht Wildwuchs. Schwer faellt es ihm, diesen zu tolerieren und gerade deshalb nimmt er die Verantwortung fuer sein Kleinod todernst.

An der Drehbank in seinem kleinen Kellerraum hat er einen Schalldaempfer mit Innengewinde gebaut, die Anleitung dazu hat er im Internet gefunden, legal kaufen konnte er den Knallschlucker in Deutschland nicht. Auch das Aufnahmegewinde an der Laufmuendung hat er selbst geschnitten.

Fuer seine 223. Remington beschaffte er sich auf Umwegen spezielle Subsonic-Munition. Er weiss alles ganz genau, ihm kann man nichts mehr vormachen. Er weiss, der Schalldaempfer kann den Muendungsknall nur auffangen, wenn die Geschossgeschwindigkeit beim Verlassen des Laufs unterhalb der Schallgeschwindigkeit von 343.42 m/s bei +20.0 °C liegt.

“Nun mach schon, wag es, du wirst schon sehen, was du davon hast. Glaub mir, das wird dein letzter Schiss!”, beschwoert der Scharfschuetze lautlos sein Opfer.

Durch das vollverguetete Zeiss-Zielfernrohr mit 6-facher Vergroesserung sieht er den roten Laserpunkt auf den hellen Haaren tanzen, aber noch gibt es keinen Grund zur Selbstjustiz. Die fuerchterliche Tat, die Tat, fuer die er oeffentlich und fuer jeden sichtbar die Todesstrafe verkuendet hat, ist noch nicht geschehen. Sein Herz pocht jetzt beinahe schmerzhaft laut, er kann hoeren, wie das Blut durch die Halsschlagader gepeitscht wird. Aber er kann warten, er hat Zeit…

“Komm weiter, Harro!” ruft Frau Seewein, Harro pinkelt noch schnell an den Pfahl, der das Schild mit der Todesstrafenandrohung traegt und…

…laeuft hinter Frau Seewein her.

Pinkeln gilt nicht!