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
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 1.800.826.1929for 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
Homeowners who want to strategically walk
away from their mortgages
even though they can make the payments
will be running into penalties and
financial risks come October. Fannie Mae
says that homeowners who default
will not be able to obtain new Fannie Mae
acked loans for 7 years after
their foreclosure and will attempt to go
after the defaulters for the outstanding
balance fo the debt. FHA is hoping the
Senate will pass a bill that will prevent
any strategic defaulter from insuring
mortgages for those that purposefully
defaulted on their mortgage.
These new policies are to curb bad behavior and to keep homeowners
morally obligated to pay on their mortgages when 25% of borrowers now owe
more than their homes are worth. Forget the fact, that the banks and their fancy
derivatives caused this whole meltdown of the mortgage industry. Furthermore,
just like a bankruptcy, a foreclosure damages one’s credit quite severely. Banks are
not wanting to lend to anyone who even has a decent credit score let alone
someone who just recently defaulted on a mortgage. No siree, banks and the
government just want to spank the American public and tank the economy even
more. O’bama certainly does carry the “big stick.”
Fannie Mae purchases about 40% of all mortgages and then bundles them
and resells them to investors, and Federal Housing Authority insures about 30% of
residential mortgages. Freddie Mac is considering Fannie Mae’s policy. There is
no thought in changing bankruptcy laws to allow bankruptcy judges to reduce
debtors’ mortgages.
How will these government agencies determine who can afford their mortgages?
They will be looking at people’s credit and observing whether they have access to credit
and if other debts and obligations are being paid. The premise is that the homeowners
have strong influence in getting this nation back on track. I am sure there are some
homeowners who may appear to be able to pay, but have maintained some credit to
allow for cash flow, to keep their small business running, or just to put gas in their
automobile.
In reality, this is another tactic to keep people slaves to the banks. First, the change
in bankruptcy laws and credit card legislation. Many people who became over-extended
for whatever reason, found it more important to keep their credit cards current rather than
their mortgages due to excessive fees. Now, homeowners will be paying on their homes even
when it makes no financial sense.
Banks got the bail-outs, but chose not to assist troubled homeowners in modifying their
loans since lenders and servicing companies made more money by foreclosing. Today,
banks are refusing to delay a foreclosure sale no matter the reason. So, of course,
banks and Wall Street are running scared that homeowners and Main Street are looking
at what’s best for their portfolios.
This type of aggressive treatment and attitude will not be forgotten. Whether people
made bad decisions or lives were turned upside down by this economy, people’s
spending habits have probably changed for the “good” and forever. They are also
saving and choosing not to make large purchases with so much uncertainty. Job
security is gone private and public with the Nation’s overspending and the taxation
that is about to occur. Smart people will never again buy on credit nor will they
want a mortgage for any length of time.
If you find your home is underwater and don’t quite know what to do, then
consider a Principal Balance Mortgage Reduction as a strategy rather than
strategically defaulting. To force banks to negotiate, a forensic mortgage audit
is done on your most current closing documents to evaluate if any RESPA laws
were violated, fraud, or if there were any errors or omissions. ARMs usually
have at least one error. Appraisals are also examined. After the audit,
then the bank’s legal department is approached for negotiating a settlement or
remedy with an attorney who represents you, the homeowner. Negotiating a
principal balance reduction will align the mortgage note at current market price
and will lower the mortgage payment with better rates and terms.
The best negotiations occur when the homeowner has a “true” hardship, and
when the home is 120% underwater. A good forensic audit which shows error(s)
also helps to ensure a modification of the loan.
For more information regarding Mortgage Principal Balance Reduction Programs
call Dave Brigle at Foreclosure Prevention Institute, LLC
at 1.800.826.1929. He will discuss possible options, evaluate your particular situation,
and provide you with the best home solutions.
Save America by Stopping Foreclosure 1.800.826-1929
Foreclosure Prevention Institute, LLC
271 Viking Dr
Battle Creek, MI 49017
1.800.826.1929
http://ForeclosurePreventionInstitute.com
brigle@appraisaloffice.biz
35* years experience in the real estate industry & foreclosure market
Rated with the BBB.
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.
Watch Video below to learn the 5 leading mortgage programs to stopping foreclosure or
saving one’s credit from foreclosure. A brand new Principal Balance Mortgage Reduction
Program is now available:
Call Today! 800 826-1929 and start saving money immediately!!!
Obtaining a Mortgage Principal Balance Reduction is easy if you are
upside down in your mortgage (owe more than your house is worth).
A Principal Balance Reduction Program is like a refi. It is better than
a loan modification or forbearance agreement. Your mortgage note
is renegotiated or restructured to lower your rate, terms and principal
balance. One qualifies regardless of credit and length of years on the
job. All we need is verifiable income to support the new mortgage
payment. Call Foreclosure Prevention Institute today at 800.826.1929
for more information or fill-out the form below to stop foreclosure and
repair your credit by once again making affordable monthly mortgage payments.
This is a popular program and will not last for long so call now 800.826.1929.
How to Reduce Your Principal Balance and Stop Foreclosure?
In today’s real estate market many homeowners are facing difficult
challenges. They are either “upside down” and owe more than what
their home is worth, are having a hard time making timely monthly
mortgage payments, or maybe even facing foreclosure.
If one is facing any of these stressful situations, one can
probably save his/her home if he/she is informed, has some resources,
and is motivated. There are several options available.
Currently, homeowners are beginning to realize that the HOPE
Program is just not working for the majority of individuals.
The loan modification program has been a dismal failure for most
folks, because the lenders are really not interested in helping the
homeowner. It is voluntary and the banks simply don’t want to
participate. They string people along, take the stimulus money for
temporary loan modifications, but in the end they tell
the homeowner that they do not qualify for a permanent loan modification.
The two best options are the Forensic Loan Modification and the Principal Reduction Program. The forensic audit shows the errors,
omissions, and possible fraud on the current mortgage held by the
homeowner. With the forensic audit in-hand, the homeowner’s attorney
will negotiate with the bank’s legal department. The homeowner has
the upper hand, because the current mortgage is unenforceable if any
type of problem is found. The forensic audit (document) forces the lender
to come to the “table.”
The Principal Reduction Program has the ability to keep one in his or her
home and reduce the current loan balance to 95% of today’s current
market value. Here is how it works:
1. The mortgage note will be negotiated along with other
homeowners’ notes issued by their lender.
2. A price is negotiated for an investor to pay them
off for all cash, at a deep discont to the current market
value.
3. Once the note is paid off, the terms of one’s note is rewritten
based on 95% of one’s home’s current market value eliminating any
“negative equity” and actually gives one 5% instant equity!
4. The new interest rate is fixed and usually quite low.
To qualify, it does not matter if there was a bankruptcy or one just has
bad credit. The homeowner does need to be able to support the new mortgage payment.
So one needs to have some kind of income or job. The individual must
also have debt to incomre ratios of 50% or less. The investors or the
hedge funds who buy these notes and do the principal reductions may also have
some other qualifiers to lessen risk.
If interested in a Forensic Loan Modification or the Principal Reduction
Program, call Foreclosure Prevention Institute, LLC today at 1.800.826.1929.
Ask for Dave Brigle. He will freely discuss your options according to your situation.
For more information also visit http://ForeclosurePreventionInstitute.com.
Services offered are:
Debt Settlement
Commercial and Residential Loan Modification
Mortgage Lending
Tax Settlement Services
Short Sale Solutions
Property Management
Referrals to Attorneys
Purchase/Refinance
And Other Loss Mitigation Services
Foreclosure Prevention Institute has 30+ years experience in the foreclosure
and real estate industry. It is rated with the BB of Michigan. Get relief and
get some balance in your life by calling 1.800.826.1929.
Foreclosure Prevention Institute, LLC
271 Viking Dr
Battle Creek, MI 49017Fax 269.962.2053
1.800.826.1929 brigle@appraisaloffice.biz
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.
