Loan Modifications through
Are you one of millions of
Americans who Purchased or
Refinanced a home at the
height of the market?
Did you depend on a market
that has now become volatile?
Are you affected by the tough
economy?
Did you buy more home than
you could afford?
You’re not alone, over 90% of
homes sold in recent years
were either financed 100%, on
an adjustable loan, Subprime
loan, or Stated Income.
Refinance ?
Less than 20% of refinance
applicants can qualify for
a new loan, and most new
terms DO NOT improve
upon current loans.
Sell?
Soft Real Estate Market,
Listings are on the market
longer than ever before,
due to severe declines in
value.
updated 2:45 p.m. PT, Tues., April. 2
NEW YORK - Efforts to aid beleaguered borrowers are still
falling short as
70 percent of homeowners who are two months behind on
updated 2:45 p.m. PT, Tues., April. 2
their mortgages
NEW YORK - Efforts to a new report released Tuesday
still aren’t getting help, aid beleaguered borrowers are
still falling short as
found. 2, 2008
those borrowers receiving who only one in three
Of70 percent of homeowners help,are two months behind
on their a workout
completedmortgages within 45 days. Slow assistance is
still why the number of a new report released Tuesday
partlyaren’t getting help,homeowners facing foreclosure
found. 2, 2008
increased 16 percent, the State Foreclosure Prevention
Of those borrowers in its survey of mortgage three
Working Group found receiving help, only one inservicers.
completed a workout within 45 days. Slow from
The report, which examined delinquent loansassistance is
partly to January, criticized the limited results
Octoberwhy the number of homeowners facing of the
foreclosure increased 16 percent, the State Foreclosure
Hope Now Alliance — a coalition
Prevention Working Group found backed by the
of mortgage lenders and servicers in its survey of Bush
mortgage servicers.
administration. The rate
The report, which examined delinquent loans from
at which homeowners are getting help was unchanged
October to January, criticized
from the group’s last report . the limited results of the
Hope Now Alliance — a coalition
of mortgage lenders and servicers backed by the Bush
administration. The rate
at which homeowners are getting help was unchanged
from the group’s last report.
What is Loss Mitigation?
Loss Mitigation is a combination of Lending
proficiency, Financial and Business
planning experience, Negotiation
expertise and an unwavering
commitment to improving the financial
lives of consumers, as well as the
Economy in general.
Can I do it on my own?
Similar to being able to represent yourself
in a court of law, ability isn’t reason or
justification, your results will only be as
good or bad as your opponent’s
Counsel. You’re paying for Experience
in Lending, State & Federal Guidelines
and Regulations, as well as Negotiating
Power and Expertise.
Special Forbearance
Loan Modifications
Rate Reductions
Term Extensions
Principal Shifts/Reductions
Fixed Rates
Incorporation of late payments into principal
Deed In-Lieu
Short Sale
Short Refinance
Long Term Affordable Solutions
Adjustable Interest Rate
High Interest Rate
Negatively Amortized Loan
Monthly Deficit
Negative Equity (upside
down)
Balloon Loan
General Hardships
Can’t Refinance
Loss of
Income/Employment
Think you don’t qualify for
help?
THINK AGAIN!!
No Credit Check
No Appraisal
Mortgage Lates OK
No Equity OK
Unstable Employment OK
Unconventional Income
sources
Homeowners nationwide are struggling with
mortgage delinquency and default.
Income loss or reduction, Adjusting or high
interest rates, Neg. Am. Loans, in a declining
market, illness, disability, or even death of a
loved one are some of the many contributing
factors.
A tough economy, rising gas prices, and cost
of living have also cornered millions
financially.
With no hope of qualifying for a refinance, and
a market so tough it makes it impossible to
simply break even.
The ONLY real option or hope for struggling
families wishing to save their homes is Loss
Mitigation. BMS Debt Management is at the
forefront of the industry, offering a far
superior, comprehensive program, and in
doing so achieving exceptional results!
The only honest guarantee
anyone can offer a
homeowner is HOPE!
The only commitment and
promise is unwavering and
diligent work. An
intelligent, strategic, and
comprehensive approach
that is proven to achieve
results
ML Mortgage Corp Results
Families who take action with the ML Loss Mitigation program are
enjoying tremendous results! Although the final decision lies with the
Lender, the art of Loss Mitigation is to work with the lender to
achieve results with the homeowner’s best interest at heart.
With the ML Loss Mitigation Program, families find a long term,
viable solution to their struggle, with:
Reduced Mortgage Payments
Reduced Interest Rates
Fixed Interest Rates to ensure the longevity of the solution
Reduced principal balances
Loan Modification incorporating their arrears into their loan
balance
Forbearance plans to get back on track
And if their goal is to sell and move forward, a Short Sale to
ensure their property sells fast!
Contact a ML Mortgage Corp Today!!!!
Main Elements:
The Enrollment Form (Application)
Contract
Financial Worksheet (Net Income, True Expenses)
Hardship Letter (Brief, Exact, Specific, To the Point)
Income Documentation
Supporting Documentation
o Employed? o Retired-Disabled?
Most Recent Paycheck Social Security Award Letter
Stubs Retirement Documentation
W-2 forms (2yrs) Annuity Documentation
o Self Employed? o Supplemental Income?
Tax Returns (2yrs) Proof of Child or Spousal
Current P & L Support
Rental Agreements
Boarder Agreements
Statements of Contribution
Statements for all Mortgages
Proof of Homeowner’s Insurance
2 Most Recent Bank Statements
Homeowner’s identification (Driver’s License,
Passport)
Any Asset Statements
How long will the Will the collection calls Stop?
process take? If you so choose, we can stop your
The Process depends on lender from making any calls to you
your lender’s timeline during the process and mandate they
and the complexity of only communicate with you through
your case. Typically 5-7 our professional negotiators.
Weeks.
What’s the cost involved?
Is the Enrollment Loss Mitigation is the industry’s best kept
package all that I secret. And yields tens of thousands of
need to submit? dollars in financial savings over the
We ask for your continued term of your loan. The exact cost
cooperation in providing depends on your loan size, your
stipulations requested by lender, and the complexity of your
your lender or updated case. Please inquire with a BMS
documentation approved source for your personal
throughout the process. service cost.
THE ML LOSS
MITIGATION PROGRAM
IS THE ULTIMATE WAY
FOR YOU TO HELP
YOU/ YOUR FAMILY
YOUR COMMUNITY
AND AMERICA’S
ECONOMY
START NOW,
TOMORROW MIGHT BE
TOO LATE FOR SOME
FAMILIES…