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Dna app2video Presentation Transcript

  • 1. The USA HOME MORTGAGE SYSTEM IS BROKEN
    • 11 Million Homes Are Upside Down: NY TIMES: Lenders are fearful that many of the 11 million or so home owners who owe more than their house is worth will walk away from them, especially if the real estate market begins to weaken again. The so-called strategic defaults have become a matter of intense debate in recent months.
    • 2. 1 in 7 “Million Dollar Homes” DEFAULTING NY TIMES: More than one in seven homeowners with loans in excess of a million dollars is seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.
    • 3. 1 in 12 “Under A Million” DEFAULTING NY Times: Homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent….
    • 4. Fannie Mae & Freddie Mac are BEGGING NY TIMES: Fannie Mae and Freddie Mac, the two quasi-governmental mortgage finance companies that own most of the mortgages in America with a value of less than $500,000, are alternately pleading with distressed homeowners not to be bad citizens and brandishing a stick at them.
  • Millions Need Your Help.
    • MILLIONS OF PEOPLE ARE… Having Trouble Making Their Mortgage Payments…
    • 5. MILLIONS OF PEOPLE ARE… In Default or at Risk of Defaulting On Their Mortgage Payments…
    • 6. MILLIONS OF PEOPLE ARE…Upside Down on Their Mortgage… AND… Having Trouble Getting Their Lender to Work With Them…
    • 7. MILLIONS OF PEOPLE ARE… Current in making their mortgage payments. However, their homes are upside down and need our help and it will not affect their credit…
    • 8. MILLIONS NEED OUR HELP…
  • The Simple 3 Step Process….
    The Free Loan Review Process…
    Takes 3 to 5 days…
    The Written Forensic Audit Process…
    Takes up to 30 days…
    The Mortgage Reduction Process…
    Takes 60 to 90 days…
  • 9. IT’S AS SIMPLE & EASY. Just Fax the following three items in for a Free Loan Review…
    #1. HUD-1 Settlement Statement / Closing Statement
    #2. Copy of all pages of the Uniform Residential Loan Application (form 1003)
    #3. Copy of US Individual Tax Returns (1st page only) for the two prior year period - prior to date of Settlement.
    Your Closing Agent… Can provide you with #1 and #2 documents if you do not have access to them…
  • 10. The Forensic Loan Audit
    A Forensic loan audit is a needed tool in the Mortgage Reduction Process it looks for violations of the…
    • Truth In Lending Act (“TILA”)
    • 11. Home Ownership Equity Protection Act (HOEPA)
    • 12. Regulation Z
    • 13. Real Estate Settlement Procedure Act (“RESPA”).
    These are all violations in how the Mortgage security was resold, and are violations of Federal, State, and Local law(s).
    • If you have a Forensic loan audit report that shows the lender violated TILA, RESPA, among other Federal State and Local Laws. “You’re now negotiating from a position of strength instead of hardship”.
    • 14. It’s like saying to the lender, `You broke the law when you sold me my loan. I’m willing to waive legal claims against you, if you give me relief through principal reduction and loan modification.
  • The Forensic Audit Fee
    The Forensic Loan Audit Fee has nothing to do with the Mortgage Reduction Fee… It’s like an appraisal when you go to get a mortgage… It is necessary but it is done by people outside of the mortgage lenders…
    What Makes Our Forensic Audits Different?
    Each Audit is Completed, Reviewed and Endorsed by…
    C.P.A. (Certified Public Accountant)
    C.F.L.A. (Certified Forensic Loan Auditor) Who is certified by N.A.M.U (National Association of Mortgage Underwriters) There are less than 100 licensed nationwide.
    Real Estate Attorney (Federal Bar Approved)
    The Forensic Loan Audit Fee does not vary with the dollar size of the mortgage. The fee for a $100,000 is the same as the fee for a $1,000,000 Mortgage. The Fee is $1500 if you have a 2nd Mortgage add $500.
  • 15. “When Violations Are Found”
    When your Forensic Audit finds violations of Federal State and/or Local law(s) in your documents, you have three options of what you can do with your Forensic Loan Audit:
    #1 Negotiate or File a lawsuit against the lender, representing yourself…
    #2 Hire an attorney to file a lawsuit against the lender on your behalf…
    #3 Hire The Mortgage Reduction Legal Team which will negotiate your Mortgage Reduction with “No Up Front Cost”… You only Pay If We Succeed In The Mortgage Reduction…
  • 16. The Mortgage Reduction Process
    After You Complete The “Mortgage Reduction Program” Authorization Documents…
    Our team of Attorneys will send a Qualified Written Request (QWR) to your Lenders Legal Department, stating the violations.
    The Lender is REQUIRED by LAW to respond to the QWR within 20 business days after receipt.
    According to RESPA guidelines, the Lender MUST settle the matter within 60 business days, or RISK Violations with Banking Regulatory Bodies, and a possible threat of a Federal Lawsuit.
  • 17. “When Violations Are Found”
    After The Lender Agrees On A Reduction… The lender sends out a L.O.I. (Letter of Intent) to The Mortgage Reduction Attorney stating the new terms of the new loan.
    After homeowner executes the L.O.I., lender sends out new loan documents to the Attorney for execution by homeowner.
    After lender receives new loan documents from our attorney, bank will discharge OLD loan and record new loan.
    New loan can be a 15yr or 30yr rate at lenders published rates. NO qualifying necessary by borrower to get into the new loan. At this time it does not matter if your credit is so bad that people are asking you for identification when you pay cash for something… YOU ARE QUALIFIED…
  • 18. “The Mortgage Reduction”
    How Are The Mortgage Reductions Determined?
    NOTE: Mortgage Reduction cannot guarantee a specific amount in a reduction…
    REDUCTIONS: are based on a Present Bank REO ( Real Estate Owned) / Foreclosure market sales data in the immediate area of the subject property
    EXAMPLE: If you owe $150K on your home, and Bank REO / Foreclosure sales are selling for $95k-120K, Then $95k-120k is the range in value The DNA Mortgage Reduction Team would try to negotiate the principal reduction down too.
  • 19. The Mortgage Reduction Fee.
    $0 to $125,000….……………………….………...…..$1,000
    $126,000 to $250,000………………..……….……..$2,000
    $251,000 to $400,000………………………….…….$3,000
    $401,000 to $600,000.………………………...…….$4,000
    $601,000 to $750,000.……………………….…..….$5,000
    $751,000 to $900,000.……………………….………$6,000
    $901,000 to 1M .……….....................................$7,000
    $1M and up…………………………………………....…$8,000
    The Forensic Report Is Not A Part Of This Fee.
    The MRP Team Is Only Paid If It Succeeds.
    There is no better offer anywhere in The USA.
  • 20. Compare The Difference…. MRP / Modification
    Principal Reduction………………..YES / NO
    Initial Review Fee……………..…..FREE / VARIES
    Attorneys Negotiate……………….YES / NO
    Lower Interest ………………………YES / YES
    Income Based …………………..…….NO / YES
    Debt Ration Limitation ……….…...NO / YES
    Credit Required …………………...…NO / YES
    Hardship Letter Needed ………….NO / YES
    Completion Time …….30 to 60 Days / 45 to 150 Days
    Program Time …………..…Permanent / Temporary
    Guarantee ………………….………….YES / NO
    Appraisal Needed ………..………..…NO / ?
    New Closing ………………….……….YES / NO