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Archive for the ‘Debt Settlement’ Category

How To Attack Zombie Debt Collectors

Thursday, September 2nd, 2010

After viewing video below on zombie debt collectors
I thought probably thousands of consumers could
use some more tips on how to get rid of zombie debt
collectors. Certainly one way is to simply get a
new phone number as did this couple decide to
do to stop the harassing phone calls. It is
of course easier to do in this day and age with
the onset of cell phones. I am sure the zombie
debt collectors are having some difficulty finding
phone numbers of potential victims. However,
one also receives zombie letters in the snail mail.
Thankfully, postage is getting expensive for these
sleaze balls.

Another tactic for the person who receives a zombie
phone call or letter is to ignore it, but one will be
continually harassed and it certainly does
psychologically accomplish its mission of
destroying one’s “peace of mind.”  If one’s credit is
already ruined from this economy, then it might not
matter. If nothing else is learned in this era is that
one would be smarter not to have a credit card…
just ask Dave Ramsey.

It would be smart to do a little personal investigation
to ensure this zombie debt is not “real.” Sometimes
zombie debts appear after a Chapter 7 bankruptcy or
after the settling of a debt. The unpaid debt is bought
by these zombie collection agencies for pennies on
the dollar in hopes that one will pay due to guilt
or just to get them to go away.

If a person gets a zombie letter and the account was
real at one time,  he/she can mail them the kept debt
settlement letter or a letter stating that the debt was
discharged in the Chapter 7 bankruptcy. One can give
them the case number and these debt collectors can go
look it up themselves. If one wants to be nice one could
give them the copy of the discharge letter showing
the account as being written off. If the zombie
debt collector continues the harassment, then one
has the right to sue them in court.   Be sure to tell them
to stop all contact and soon after and if not before check
credit report to see what damage has occurred if any.

Now, if one researches and is unsure whether or not
this debt is accurate, then another strategy is to
ask the debt collector to show the note and documents
that prove that one does owe the debt. Also, ask to
see their license for doing business in the state in which
one lives. Asking for the note is just like asking to “show
me the note” in a foreclosure. There must be a paper trail
to show that the note has been properly assigned and
transferred.

If a debt collector does sue know that one may still
demand to see the note. It may help to delay the court
action and sometimes these debt collectors cannot
produce the documentation because it’s been lost through
the continuous selling of these notes. This is wonderful
news for they cannot collect as long as one has
not acknowledged the debt in previous correspondence or
in answer to their suit.

Even if successfully sued in court and are facing
possible garnishment one can also threaten bankruptcy
if need be as an attempt to get the debt collector to
negotiate. This way they get some money versus
nothing in the filing of a bankruptcy. Always try to
negotiate away the fees and interest accumulated,
and try to pay fifty percent or less on the dollar
amount. The judge can act as a referee to determine
what’s fair if you are unable to successfully negotiate
terms. If you are too emotionally involved or cannot
handle the negotiations for yourself, hire an attorney.
They are good at this.

We are not attorneys, but Foreclosure Prevention
Institute, LLC can do debt settlement and we do have
attorneys that can be assigned to your case. A
trust account is set-up for you so that you have
control of your money at all times as you work
through your debt settlement.   Debt consolidation
is also available.

For more information call:

Dave Brigle 1.800.826.1929
Managing Member
Foreclosure Prevention Institute, LLC
271 Viking Dr
Battle Creek, MI 49017
1.800.826.1929 – Hotline
brigle@appraisaloffice.biz

ForeclosurePrevententionInstitute

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Posted in Bad Credit, Credit, Credit Repair, Debt Consolidation, Debt Settlement, Education, Mortgages, Unsecured Debt | 1 Comment »

Principal Balance Mortgage Reductions Can Kick Start This Economy

Tuesday, July 27th, 2010

Principal Balance Mortgage Reductions would help
stimulate this economy in addition to just extending George
Bush’s tax cuts. This would greatly help the middle class
and the housing industry. Normally, to pull this country
out of a recession, it takes a strong real estate market and
consumer spending. At this time, though, consumer
confidence is at an all time low.

People are scared of losing their jobs and are having
difficulty paying down on debt, saving some money, and
just paying for everyday expenses. Energy costs and
consumer prices on goods and services keep rising not to
mention the taxes that are on the horizon.

One need only to visit a utility company to find out that
many families and individuals are living day to day.
It used to be that people lived week to week or paycheck to
paycheck. That is no longer the case. People are waiting
until the last minute to make their utility payments or until
the last day before a shut-off.   There actually has been a 10%
increase in the number of people who are late in paying. Many
of these families have never been late before.  (Note:  In
California, it is becoming common place for people to be camping
out in their own homes – utilitites have all been shut-off. Does
this sound like a depression or what?

Grand Rapids’ Consumer’s Energy’s parking lot was jammed last
week as homeowners and renters came in to pay their past due bills.
Consumer’s had sent hundreds of shut-off notices out.
People continue to cut back on usage only to face rate hikes,
thus cancelling out any savings. What is worrisome is that this
is summer – what will winter bring?

It’s not that people don’t want to get out of debt, but
they just can’t. Many homeowners in Michigan have gone
through their 3 to 6 months savings, or are unable to save a
dollar. High credit card fees, gasoline and energy costs,
and food prices make it almost impossible for people to pay
down on their debts.

In this economic climate, housing prices have dropped
due to foreclosures and this weak economy. Consequently,
people are upside down in their homes and just struggling
to make their monthly mortgage payments. A new wave of
foreclosures is on the horizon.

One can see it. The gulf oil has been shut-off and Columbia
is threatening to stop oil from flowing. Iran and North Korea
are thumping their chests over nuclear power and weapons.
China and Russia are positioning the world for a new currency
to devalue the dollar. The United States has a huge trillion
dollar debt, and will probably be unable to make the interest
payments once the dollar falls.

In addition, we are facing the high costs associated with a
socialized healthcare program; and the threatened cap and trade
tax to make this country go green. Pension funds and Social
Security are also at risk. All in all, either we have some stupid
Economists/planners in the White House and in Congress or we
are predestined to be a third world country by design. I haven’t
even mentioned inflation.

I suppose banks, like corporations, are pulling out of
America. However, if the politicians really want to save
this great nation, we can force banks to do Principal Balance
Reductions for struggling homeowners and those that are
underwater. This would stop the increase in foreclosures, and
help the middle class gain control of their finances and allow
them to save money so that they may in the near future be able to
spend money on some goods and services. People could also
have some money to invest in small businesses to help “grow”
jobs in the private sector. Even President O’bama is realizing
that small businesses are not creating jobs. Why is that?
Some cities out West are again enacting the homestead act just
to get homes and land back onto the tax roles.

How can people or small businesses save or spend money
within this business climate? The only optimists that I have
met are the financial planners in banks or financial institutions.
They are encouraging people to invest in their annuities and
mutual funds at 2.75% interest. However, I know that most
banks don’t really have any money to loan. Over 100 banks
this year have imploded. No, the best place to put your cash is
under your mattress or maybe to invest in precious metals or food.

If you can relate to the above story and are facing foreclosure
or are upside down in your home, call Foreclosure Prevention
Institute, LLC at 1.800.826.1929 for assistance. We know how
to force banks to come to the table and negotiate modified
loan terms and rates. Ask about a forensic loan audit and a
Trustee Principal Balance Mortgage Reduction. We have
many financial services including debt settlement and consolidation
to help you find financial freedom and peace of mind.

Dave Brigle, Managing Member
Foreclosure Prevention Institute, LLC
271 Viking Dr
Battle Creek, MI 49017
800.826.1929
brigle@appraisaloffice.biz

Save America by Stopping Foreclosure

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Posted in Appraisals, Bad Credit, Cash For Keys, Conservatism, Credit, Credit Repair, Debt Consolidation, Debt Settlement, Deed in Lieu, Foreclosure, Foreclosure Prevention, Forensic Mortgage Audit, Loan Modification, Loss Mitigation, Mortgage Lenders, Mortgage Refinance, Mortgages, Politics and News, Principal Reduction, Private Money, Residential Appraisals, Short Sales, Unsecured Debt | 28 Comments »

Your Income Is Not Yours!

Friday, July 23rd, 2010

     Oh my gosh, it has now been said on the floor of Congress by Byron L. Dorgan of

North Dakota, a Democrat, that if they were to reduce your taxes, this country’s income

would be reduced.  The fallacy of this statement is that as taxes are reduced their

coffers increase, and job creation develops and expands.  However, this January,

our taxes will be at the highest level ever, and will continue to increase the

following months as the healthcare bill is implemented.  

     If you follow the Dem’s belief system then as the federal and state governments

continue to spend, spend, and spend; you will ultimately be taxed at

one hundred percent of your salary.  The government will then take your

income spread it around to whoever they want, and maybe if you are lucky

you will be on the receiving end to get a benefit, an entitlement, or a subsidy

so you might live a meager existence.   If you are rich but not of the

establishment or of the right class, you may be able to rent a little hut or

apartment and have a bicycle, horse, buggy or little electric “bug” to travel

to work so you can give your paycheck to Uncle Sam.   That’s fair, uh?

Watch this video link on C-Span to see for yourself and read the following article

link by Erick Erickson for more on this topic.  Oh, and go find Robin Hood.

more on this topic.

     Better reduce your principal mortgage balance, consolidate or settle your

debts now while you still can. Call Foreclosure Prevention Institute and talk

to Dave Brigle today at 1.800.826.1929 or for more information go to

http://UpdateMyMortgage.com/brigle.

Get Your Financial Bailout With A Debt Settlement

Save America by Stopping Foreclosure

Dave Brigle, Managing Member
Foreclosure Prevention Institute, LLC
271 Viking Dr
Battle Creek, Michigan 49017
brigle@appraisaloffice.biz
http://ForeclosurePreventionInstitute.com
1.800.826.1929

We are a national company
Will be glad to evaluate your situation
and provide you with our best solution or
steer you in the right direction.

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Posted in Conservatism, Debt Consolidation, Debt Settlement, Politics and News, Unsecured Debt | 3 Comments »

How to Obtain a Principal Reduction to Restructure Mortgage Note

Friday, July 2nd, 2010

Saving the American Dream 800.826.1929

Foreclosure Prevention Institute, LLC is helping homeowners who are
behind in their mortgages and upside down in their homes restructure
their mortgage notes into a 30 year fixed-rate with a trust deed principal
reduction. This trust deed principal reduction program is:

1. Not a loan modification
2. Not a short sale
3. Not a short refinance
4. Not a forebearance
5. Not a deed in lieu
6. Not for the unemployed
7. Not a new origination

This is a 30 year fixed-rate restructured note with a decent interest rate.
We are not orginating a loan, but are negotiating with the bank or mortgage
company to restructure a homeowner’s mortgage note who is facing foreclosure.
There are certain limitations and a submission process within this program to
successfully eliminate debt and to create wealth in this downward housing
spiral.

Many people are trapped in option arms and are experiencing job loss or pay
cuts. Foreclosures are depressing values and destroying whole neighborhoods.
People are frustrated and are now willing to walk away from their homes.
Foreclosure Prevention Institute, LLC is trying to provide an alternative solution
to help stop this dangerous financial meltdown. Our principal balance reduction
program is backed by private equity and hedge funds. A principal balance
reduction will help people to save their homes and reestablish good credit and
alleviate debt. A foreclosure or bankruptcy will destroy one’s credit for 7 to 12 years.

A homeowner who wants to save their homes either needs a bailout or will need
to file bankruptcy. To negotiate a restructured note costs about $895 for the 1st
mortgage and $175 for the 2nd mortgage or HeLOC. The money is placed in a
trust fund to guarantee funds to a third party for processing and appraisal costs etc.
If a principal reduction is not successful to the companies satisfaction, $295.00 is
refunded and the homeowner is referred to other programs.

How are the notes negotiated? The notes are bundled into 10, 20 or 30 notes and
thrown at the bank. We have special relationships with 6 of the largest banks in the nation.
We can also work with smaller banks and credit unions. Regardless, each individual note
is looked at and negotiated since each note has different back-end investors who have
specified rules that must be followed. Why do banks want to liquidate these notes? It’s
because they don’t need more Real Estate Owned Properties (REOs). They are in the
business of lending not in real estate. Banks will negotiate and sell bundles of non-performing
notes so that they can free up their money to lend more money. Specifically,
a bank will make:

1. $16,000 in a short sale
2. $2,288 if a REO
3. -$42,000 as a foreclosure
4. $18,000 in a non purchase (principal reduction)

The profile of this principal reduction negotiation is critical.
Our private/hedge funds investors have a price range, the
banks/mortgage lenders have a price range, and the client
has to qualify within certain debt to income ratios. The note
is bought from the bank at a discount and then the note
restructured near market value with an interest rate determined
by the homeowner’s credit. Understand though, it does not
matter if a homeowner has good or bad credit, but one may
obtain a little better interest rate if one has a better credit.

What is important is that the homeowner be
1. Living in a single family residence.
2. The home be their primary home.
3. The home is not a mobile or manufactured home.
3. That the homeowner be 30 to 60 days late on their mortgage.
4. That the home be 20% or more upside down (owe more than what the home is worth).
5. After negotiations, that the debt to income ratio be 31% or less.

Homeowners should not worry about their debt to income ratio. If needed we can
do debt settlement. If a homeowner is in bankruptcy, the home must be set aside
or we will have to get permission from the bank and judge to set the house aside.
The only state that we cannot perform in is the State of Maryland. States like
Florida, California, Nevada, and Arizona are prime candidates since real estate has
really plunged.

Homeowners with a principal reduction will experience 25% to 50% reduction in the
monthly mortgage payments. There are no origination or closing costs. Taxes and
insurance will be paid through the new servicing company. If after reading this article,
you think you might fit this profile, call Foreclosure Prevention Institute, LLC’s hotline at
1.800.826.1929 or goto Foreclosure Prevention Institute, LLC. Ask for Dave Brigle
who is Managing Member for more details. If you are ready to apply, it’s easy. Just
enter your name, email address and telephone number. We will contact you directly.
For immediate assistance call 1.800.826.1929 .

Dave Brigle, Managing Member
Foreclosure Prevention Institute, LLC
271 Viking Dr
Battle Creek, MI 49017
800.826.1929

http://ForeclosurePreventionInstitute,com

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Posted in Bad Credit, Debt Settlement, Foreclosure, Foreclosure Prevention, Mortgages, Principal Reduction, Short Sales | 47 Comments »

Get A No Equity Refinance! 1 800 826-1929

Thursday, April 29th, 2010

Saving the American Dream 800.826.1929

When you are upside down in your home, you may be able to do
what’s called a Principal Balance Reduction Program. As a homeowner
you can refi to 95% of the current market value of your home. It does
not matter if you have Bad Credit or Good Credit. The Principal Balance
Reduction Programs allow for 30 year low fixed rates and provide instant
equity.

Usually to qualify for a principal balance reduction program one needs to
be about 20% upside down or underwater, and have a “true” financial
hardship to have the banks consider you for this type of program. Banks
are usuallly highly motivated to get non-performing notes (asets) off of
their books, because The Federal Reserve penalizes banks for holding onto
non-performing assets. However, they have guidelines to follow in
forgiving debt. Understand that not all banks will negotiate, but lately many
of the large banks are willing to consider a Principal Balance Reduction
Program if it is for a primary residence and the homeowner has experienced a
true hardship such as job loss, divorce, death of a spouse, cut-in pay etc.

How does a Principal Balance Reduction Program work? Many times the
homeowner’s note is negotiated along with other homeowners’ notes issued by
the same lender, but again sometimes individual notes are negotiated with
the associated bank. A price is negotiated for an investor to pay them off for
all cash, at a deep discount to the current market value. This is not a hard
money lender, but is private money and operates similar to a regular refinance.
It is all legal. Once your note is paid off, the terms of your note are rewritten
based on 95% of one’s current market value eliminating any “negative equity”
and actually giving you 5% instant equity.

The benefit of a Principal Balance Reduction Program is that one can have
a lower mortgage payment that makes sense, or perhaps have the opportunity to
then sell one’s home if wanting to move. Otherwise, a homeowner could be
stuck in their home for years waiting for this market to come back. It is
important that the homeowner can prove that he has the income to support
the new mortgage. It also won’t work if one has an extremely high debt to
income ratio. Banks like to see about a 35% debt to income ratio. So this
program is not for everyone, but does help a certain population of home-
owners. There are cities in this country where almost every home is underwater
or has lost significant amount of equity. Homeowners who are able to obtain
a Principal Balance Reduction can save a tremendous amount of money on
principal and interest.

This program just makes a lot of sense. Most homeowners have taken huge
financial hits, so why not banks help out communities and homeowners. Foreclosures
hurt everyone. One final note, these Principal Balance Reduction Programs cannot
stop a trustee or sherriff sale, but if a homeowner acts before being foreclosed upon
or acts quickly at the beginning of the foreclosure process, it may prevent the property
from being foreclosed. It takes between a month to about 3 months or
longer to restructure a loan. The home should also not be in bankruptcy only since
these programs are quite popular. Many companies just do not want to take take the time
to mess with this complication. If the home is out of bankruptcy, then that is a
different story.

If you are having difficulty getting a Principal Balance Reduction Program or have been
denied one there are several other options to consider such as a Forensic Audit to force
negotiations, Debt Settlement Services, Commercial Loan Modifications, Tax Settlement
Services, Short Sale Solutions, Cash for Keys, Deed in Lieu of Foreclosure and other
Loss Mitigation Services.

Foreclosure Prevention Institute, LLC is here to answer any lingering questions regarding
the Principal Balance Reduction Program or Foreclosure. We have 33 plus years
experience in the real estate, mortgage and foreclosure markets. Call today to
get started or to have your questions answered at 1 800 826-1929. We are here
to help you resolve your current situation so you can stay in your home and have
an affordable mortgage. We have many options available to help you through this
process so you can get back on your feet and regain control of your financial
situation. We have lots of tricks to stall, delay, and prevent foreclosure and/or
eviction. Our hotline is again 1 800 826-1929 or visit http://ForeclosurePrevention
Institute.com.

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Posted in Bad Credit, Cash For Keys, Credit, Credit Repair, Debt Settlement, Deed in Lieu, Education, Foreclosure, Foreclosure Prevention, Forensic Mortgage Audit, Loan Modification, Loss Mitigation, Mortgage Lenders, Mortgage Refinance, Mortgages, Politics and News, Principal Reduction, Private Money, Short Sales | 9 Comments »

Is Your Home Underwater?

Sunday, February 21st, 2010

Balance Reduction Program

Our Hotline: 1.800.826.1929

Let me state the obvious… today there are 15 million homes underwater… they owe more on the mortgage than the home is worth on the open market… and these homes are in danger of foreclosure.

Foreclosure Prevention Institute has been helping people facing foreclosure by helping them get loan modifications and forensic mortgage audits. The simple fact is that loan modifications are difficult to achieve and not guaranteed. The basic reason is that the homeowner will never be able to communicate with the end investor. I talk to people everyday who have been strung along by their lender on the pretense of getting a loan modification only to end up with a notice of default and a pending foreclosure.

Even if they do approve you for that 3.5% interest rate, you will still owe all of that negative loan balance. Getting a principal reduction is so rare that it is no longer considered relevant.

Fortunately for today’s homeowners, we have the program available to overcome all of those obstacles. Our entire program is based on who we approach. Most homeowners have approached loss mitigation, customer service, or collections in hopes to achieve a solution to their financial hardships. As you have all probably experienced, nothing ever gets achieved by speaking with these departments, because they never communicate so nothing ever gets done properly.

We differ in the fact that we approach Wealth/Asset Management. This allows us to package up notes to make a note acquisition at a very reasonable price.

Once the notes are secured, we will refinance the note to the homeowner at 90% of current market value. So you will get all of the negative equity reduce, receive 10% instant equity, a lower monthly payment and a 30 year fixed rate mortgage.

The best part is, you will be considered regardless of you credit.

No Credit Score Refinance/Principal Reduction Program

We are focussed on helping today’s homeowner in their time of need. Our new product offers an opportunity to reduce the homeowners principal balance to 90% of current market value. Regardless of Payment history. Foreclosure, Bankruptcy, Repossession are not a problem; even if you have been denied for a Loan Modification, Short Sale, Deed in lieu of foreclosure, etc. We still can help. Not a lease option program, You Never lose Title/Ownership of your home. This is a 30 yr fixed loan program with interest of only 7.25 if you have lousy credit. THERE IS NO CREDIT SCORE NEEDED TO QUALIFY.

The homeowner needs to be 20% upside down and have verifiable income support the new loan with no more than 50% debt to income ratio.

Investors can use 75% of the rental income and bank statements are allowed for the self-employed.

If you have any interest or want more information you need to call me (Dave Brigle)…800-826-1929 and visit http://ForeclosurePreventionInstitute.com.

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Posted in Aces Credit Solutions, Appraisals, Bad Credit, Cash For Keys, Conservatism, Credit, Credit Repair, Debt Consolidation, Debt Settlement, Deed in Lieu, Foreclosure, Foreclosure Prevention, Forensic Mortgage Audit, Home Equity Line of Credit, Home Loan Purchase, Loan Modification, Loss Mitigation, Mortgage Lenders, Mortgage Refinance, Mortgages, Private Money, Residential Appraisals, Short Sales, Unsecured Debt | 21 Comments »

Private Money for Foreclosures

Sunday, January 17th, 2010


Refinancing Announcement  

ForeclosurePreventionInstitute.com is participating in a NEW  ”private industry”

 4.5 Billion dollar pilot program to help homeowners in foreclosure save their home.

Details will be made public next week to those interested. Send me an email

db@michiganloanhomeinc.com if you have any interest

or

fill-in the form below with your name and email address:

David Brigle, Managing Member

db@michiganloanhomeinc.com

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Posted in Appraisals, Bad Credit, Business Opportunities, Cash For Keys, Credit, Credit Repair, Debt Consolidation, Debt Settlement, Deed in Lieu, Foreclosure, Foreclosure Prevention, Forensic Mortgage Audit, Home Equity Line of Credit, Home Loan Purchase, Loan Modification, Loss Mitigation, Mortgage Lenders, Mortgage Refinance, Mortgages, Private Money, Residential Appraisals, Short Sales | 3 Comments »

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