Loss Mitigation News

Loss Mitigation Phone Numbers

admin — Mon, 23 Mar 2009 22:10:51 +0000

Lender/Servicer Loss Mitigation Phone Numbers & Contact Information:

ABM AMRO Mortgage (800) 783-8900

Accredited Home Lenders (877) 683-4466

AMC Mortgage Services (800) 211-6926

American Home Mortgage Corp. (877) 304-3100*

Ameriquest Mortgage (800) 211-6926

Aurora Loan Services (800) 550-0508

Avelo Mortgage LLC (866) 992-8356*

Bank of America (800) 846-2222

BB&T Mortgage (800) 827-3722*

AmTrust Bank (Ohio Savings Bank) (888) 696-4444

Beneficial (800) 333-5848

Central Pacific Bank (800) 342-8422

Charter One (800) 234-6002

Chase (800) 548-7912

Chase Loss Mitigation (877) 838-1882 ext 52195

Chase Home Finance (800) 848-9136

Chase Home Finance-New Jersey (800) 446-8939

Chevy Chase Bank (800) 933-9100

Chase Manhattan Mortgage
(800) 446-8939 (Ohio Servicing Center)

(800) 526-0072 (Florida Servicing Center)

(800) 527-3040 x533 (Florida Servicing Center)

(800) 933-9100 (Chevy Chase Bank)

Citi Financial Mortgage (800) 753-3673

Citimortgage (800) 283-7918

Countrywide (800) 262-4218

Ditech (800) 852-0656 (800) 449-8582

Downey Financial Corp. (800) 824-6902, ext. 6696

EMC (800) 723-3004

EverBank (800) 669-7724 ext. 4730

Equity One (866) 361-3460

First Horizon Home Loans (800) 489-2966

Fifth Third Bank (800) 375-1745

First Merit Bank (888) 728-9931

Flagstar Bank (800) 968-7700, ext. 9780

Fremont Investment & Loan (866) 484-0291

GMAC Mortgage (800) 850-4622

GreenPoint Mortgage Funding (800) 784-5566

Green Tree (877) 816-9125

Homecomings Financial (800) 799-9250

HomeEq Mortgage Servicing (866) 822-1471

Household Finance (HSBC) (800) 333-5848

Household Mortgage (800) 333-4489

HSBC Mortgage (800) 338-6441
(888) 648-3124 Loss Mitigation

Huntington National Bank (800) 323-4695

Indymac Bank (877) 736-5556

Irwin Mortgage (888) 218-1988

James B. Nutter & Company (800) 315-7334

Key Bank (800) 422-2442

LaSalle National Bank (800) 783-8900

Litton Loan Servicing (800) 999-8501 (800) 548-8665

Midland Mortgage (800) 552-3000 (800) 654-4566

Mortgage Lenders Network (800) 691-0129

Mortgage Electronic Registration Systems (MERS) (888) 679-6377

National City (800) 367-9305, Ext. 53221 (800) 523-8654

Nationwide Advantage Mortgage Company (800) 356-3442, ext. 6002*

NationStar Mortgage (888) 850-9398

New Century Financial (800) 790-9502 (877) 206-9904

NovaStar Mortgage (888) 743-0774

Ocwen Federal Bank (800) 746-2936 (877) 596-8560

Ocwen Financial Corporation (877)226-2936

Option One (866) 711-1962 or (888) 275-2648

PHH Mortgage (Formerly Cendant) (800) 257-0460

ResMae Mortgage Corp. (877) 473-7623, ext. 5944

Saxon (800) 665-7367

Select Portfolio Servicing (888) 818-6032

SkyBank (800) 290-3359

Sun Trust Mortgage (800) 634-7928

Third Federal Savings (888) 844-7333

US Bank (800) 365-7900

Wachovia Bank of Delaware (866) 642-8608

Washington Mutual (866) 926-8937 (888) 453-3102 (800) 478-0036 (800) 254-3677

Waterfirld Mortgage (800) 957-7245

Wells Fargo (877) 216-8448 (866) 261-5642 (800)766-0987 (800) 678-7986

Wendover Financial Services Corporation (800) 934-1081 (800) 436-1022

Wilshire Credit Corporation (888) 502-0100

Is America Under Water?

admin — Wed, 18 Mar 2009 18:05:41 +0000

A new report release by First American CoreLogic, stated that as of the end of December 8.3 million U.S. mortgages, which equals 20 percent of all properties with a mortgage, were in a negative equity position.

Unbelievably enough, in the Sacramento area nearly 40% of homeowners that have a mortgage are actually upside down. There are actually 178,163 people that could not sell or refinance their home without bringing money to the table.

First American CoreLogic further reported that 700,000 borrowers across the nation fell into this position in the last quarter of 2008. The worst part yet is that there are 2.2 million mortgages that are approaching this position, which would leave 1 in 4 homeowners with a mortgage under water.

Foreclosures Jump 30% In February

admin — Tue, 17 Mar 2009 23:32:21 +0000

The entire banking industry was startled by the fact that the number of foreclosures actually grew by 30% in February from the same quarter the previous year.

To some it was disheartening due to the amount of government measures that have been taken in recent months. Some banks had even declared a moratorium on foreclosures, without impacting the 290,000 filings nationally in the month of February.

Research firm Realty Trac posted the following top 10 foreclosure states in February:

State	Foreclosures
California	80,775
Florida	46,391
Arizona	18,119
Nevada	15,783
Illinois	14,218
Michigan	12,564
Ohio	11,231
Texas	10,527
Georgia	10,185
Viginia	4823

Is Apply 2 Save The Hope A Struggling Homeowner Needs?

admin — Tue, 17 Mar 2009 22:49:50 +0000

In a recent article Maura Desmond from Forbes, questions the possibility of, “suppose they gave mortgage relief but no one came.” Desmond raised the concern that although the government may be spending $275 billion to help 9 million troubled mortgages, their numbers just don’t add up.

What if she is right? Who is left?

Your mortgage lender. That is unlikely.

In fact, most struggling homeowners don’t get too far with their lender. Some have complained of months going by with no answer, only to finally get an answer that it is too late.

If you don’t qualify for government assistance and your lender is not helping you just where do you turn? We conducted a survey of 2,000 homeowners facing foreclosure that had used a loss mitigation company, regardless if there was a positive or negative outcome.

The company that we found to me mentioned more than twice than any other company was Apply 2 Save. The Idaho based company said the secret to their success is caring about their customers. Apply 2 Save customer Francisca from Pittsburg, PA stated,

“I was months behind on my mortgage and losing my mind. I called Apply 2 Save and they got back with me right away. They handled everything for me. I didn’t have to talk to my mortgage company again about it. I just got a letter in the mail stating my loan was able to be modified by my mortgage co. I can breathe a sigh of relief because I am not stressing out anymore or getting rude harassing phone calls anymore. I am also able to remain in my home while making an affordable payment. So I can honestly say these are the people to go with if you want to save your home. The minute I talked to them, I felt relieved.”

Although the government is trying to create programs that will assist the struggling, many are concerned that they are only wasting taxpayer dollars. If you have found yourself in a situation where you have nowhere else to turn, you may choose to deal with a loan modification consultant. But make sure that you don’t fall for a company that wants thousands of dollars up front.