The equity loan settlement is a program that helps homeowners remove junior liens from your property. If you are a homeowner with several mortgages you may be able to remove or settle the second mortgages or home equity lines from title and county records. Only the first mortgage will remain! If you meet the standards, all loans except the 1st mortgage would disappear and you would be able to eliminate all of the 2nd loan payments right away. There is nothing the mortgagor can do if you qualify.
The 1st mortgage must be equal to or greater than the current market value of the property.
You must have income
Your total unsecured debt is under 336,900 and your secured debt is under 1,010,650.
As of 2002, the Ninth Circuit Court of Appeals ruled: Sieglinde E Zimmer, that these mortgage loans on residential properties can removed if you qualify. In the current housing market, this ruling basically enables the second lien to be removed on most properties bought or refinanced since 2004. For example, if you have a 1st mortgage of $450,000 and a home equity line of $150,000 and the home is only appraised at $450,000.00. Under this program the $150,000 is removed and you only need to make monthly payments on the $450,000. How does that sound? This will help stop the foreclosure process and save you money with only one home loan and no other mortgage payments.
Please complete the form below and one of our mortgage relief representatives will contact you as soon as possible.
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If you are faced with losing your home due to foreclosure by the bank or mortgage company, contact Foreclosure Lawyers of America immediately for a free no hassle consultation. You need to know your legal rights.
Mortgage Refinancing Versus Loan Modification The foreclosure crisis continues to ravage our economy with more lost jobs, reduced home equity from plummeting home sales and delinquent mortgage payments.
Foreclosure Lawyers of America created a system that helps homeowners to continue the stay in their home for 6-12 months without making any loan payments! This program was derived directly from the Federal consumer protection statutes and the civil code.
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