Mortgage Market News - Phoenix, AZ

As I have spoken with countless desperate homeowners and real estate agents trying to help their clients keep their homes, there are three very common scams that I have heard of people encountering. I have listed them below with a link to our loan modificaion blog detailing each.

No Job Needed. Bottom line is that a loan modification is working out a new payment plan with your mortgage lender. If you don't have a job or a source of income you have nothing to negotiate.

The Promise. No one can promise you a loan modificaion.  There are just too many factors and each case is unique. A company can however offer a money back guarantee, if they have a strong enough success rate as ours does.

Over the Phone Payment Quotes. Similar to not being able to make promised, loan modification consultants cannot quote you what your new payment will be or even guarantee how much your payment will drop.

It is unfortunate that so many crooks are rearing their heads in this market, but I talk to lots of people who are looking for help and many are in desperate situations. Sadly, many of them have been taken advantage of.

If you are interested in speaking with a reputable loan modification consultant, call 800-757-9704.

While loan modifications can be a welcome relief to struggling homowners, the biggest let down would come in the form of a loan modification scam.  IF you need are considering doing business with a loan modification company, here are some pointers.

1. Always check out the loan modification company you are going to do business with. At a minimum do a Better Business Bureau search and a Google Search on the company.
   
2. Do not make your mortgage payments to any company other than your mortgage company. Legitamate loan modification companies work with your current mortgage company to work out new terms, so you should be making your payment to the same compay in the end.
   
3. Make sure the uses a law firm to negotiate with your lender. If they are not using an attorney, the success rate will be much lower, which means you could lose money.
   
4. Ask if the company has a money back guarantee. Most likely, if you are behind on your mortgage it will be difficult to come up with the money for the loan modification, so you might be risking borrowed money.
5. If you are unemployed, you will not be able to get a loan modification regardless of what you are told. A loan modification company basically helps the bank understand what you are able to pey based on your currnet income. If you have no income, there is no way to negotiate a payment.
   
6. Beware of anyone who asks you to hide assets by transferring them to others so you look more “needy.” Bottom line - this is fraud, and you may end up getting to know your loan modification consultant a lot more than you want to (in jail!)

If you are behind on your mortgage, struggling to pay your mortgage on time, or facing foreclosure, contact Consumers Advantage Mortgage at 800-453-9290 or by email at anthony(@)atozlnder.com. We look forward to helping you save your home.

If you are like many homewners out there, you may be struggling to pay a mortgage on a house that is worth far less than what you owe.  If this sounds like you, I may have some good news for you.

Lenders are in a desperate frenzy to stop the foreclosure epidemic that as put many of them out of business.  To their own detriment that are t working with distressed homeowners to help them out of their situations, but fortunately, they are working with professional loan modification advisors (most of whom use lawyers to draft the agreements).  By working with a skilled mortgage negotiator, you might be able to reduce your mortgage balance, monthly payment, or both.  Best of all, unlike the propsoed government mortgage reduction programs, these lender apprved modifications have no redemption clauses - meaning that you do not have to pay back future equity.

To see if you qualify for a loan modification, contact Anthony at Consumers Advantage Mortgage TODAY at anthiony(@)atozlender.com or 800-757-9704.

Dear friends, colleagues, and community members,

Today I am writing on a subject that has affected or will affect nearly every American - Diabetes. I recently flew to MD for the funeral of a family member who passed away due to complications of diabetes.  I also have family members who live with this disease today.

As a way to take a stand against Diabetes and promote awareness, health, and education, we have formed a  Diabetes Step Out Team, and would like to invite you to join us in a walk for diabetes on Saturday, September 27th at 8AM for a two miles walk. I know this is short notice, but I was moved to do this as a result of my family's recent loss. Registration is free, and I would love to meet you at the event, so once you join, you can expect an email from me.  Simply visit the Consumers Advantage Mortgage Step Out for Diabetes website

We have also committed to raise $12,000 (or $1,000 per month) over the next year to fight this disease, so if you are unable to join us for the walk, please consider making a donation no matter how small - every little bit helps.

If you would like to give online, visit this page.

For those in the community that either join us or donate, you will receive a free mortgage analysis, where one of our consultants will show you how you can pay off your mortgage in as little as 1/3 to 1/2 of the time without refinancing (and often without changing your budget.)

For the real estate professionals that join us, you will receive a free copy of my book entitled The Market Seems Slower When you Don't Have Clients as well as recognition on our website and in our future PR related to corporate giving.

Thank you in advance for your support!

Here is Arizona, this is a very common occurance, and sadly, there doesn't seem to be much hope for many homeowner that find themselves upside down, owing more than their home is worth.  Many of these home owners feel stuck, unable to make a move, and feel like they are fighting a never ending uphill battle.

Here is the good news - we have a solution.  Now, it doesn't work for everyone, because you have to actually be able to pay your mortgage.  I know many people are in a worse situation, in that they are upside down, and they have an adjustable rate mortgage that has adjusted or will adjust soon, making their mortgage unaffordable.

If you are interested in knowing more about how this program might be able to help you or someone you know, please contact Consumers Advantage Mortgage at 800-757-9704. We serve all 50 states, but make our home in Mesa, Arizona!