Yes. Making Home Affordable offers help to borrowers who are already behind on their mortgage payments or who are struggling to keep their loans current. By providing mortgage servicers with financial incentives to modify existing first mortgages, the Treasury hopes to help as many as 3 to 4 million homeowners avoid foreclosure regardless of who owns or services the mortgage.

How do I know if I qualify for a Home Affordable Modification?

To apply for a Home Affordable Modification, you must:

Be an owner-occupant in a one to four unit property, and have an unpaid principal balance that is equal to or less than $729,750 (for one unit properties and higher for two to four unit properties (consult your servicer),

Have a loan that was originated before January 1, 2009.

Have a mortgage payment (including taxes, insurance, and home owners association dues) that is more than 31% of your gross (pre-tax) monthly income, and have a mortgage payment that is no longer affordable, perhaps because of a significant change in income or expenses.

If you answered YES to all of these questions, you are eligible to apply for a Home Affordable Modification. Only your servicer will be able to tell you if you qualify.

What if I don’t qualify or my lender is not participating in the Home Affordable Modification Program?

While 3-4 Million Homeowners are expected to qualify and most major lenders are expected to participate, in the event you cannot participate in this program, we are an ethical, full service Loss Mitigation firm dedicated to helping homeowners retain their homes. Contact us today at 1-877-467-3588.

Do I need to be behind on my mortgage payments to be eligible for a Home Affordable Modification?

No. Responsible borrowers who are struggling to remain current on their mortgage payments are eligible if they are at risk of imminent default, for example, because they have had or will soon have a significant increase in their mortgage payment that they cannot afford. If you have had or anticipate a significant increase in your mortgage payment or have had a significant reduction in income, contact your servicer. If you meet the minimum eligibility criteria for a Home Affordable Modification, your servicer is required to evaluate your loan to see if you are at risk of imminent default.

I have missed some mortgage payments am I eligible?

If you answered yes to the questions above, have missed two or more mortgage payments and your servicer is participating in the Making Home Affordable Program, your servicer must evaluate your loan to determine if you qualify for a modification.

I have a second mortgage. Am I still eligible?

Yes, but only the first mortgage is eligible for a modification under Making Home Affordable Loan Modification Program.  Any negotiations on the second mortgage would be between you and your lender and does not affect the federal guidelines.

How do I know if my servicer is participating? Are all servicers required to participate?

Servicer participation in the program is voluntary. However, the government is offering substantial incentives to servicers and investors, and it is expected that most major servicers will participate. Participating servicers will sign a contract with Treasury’s financial agent, through which they agree to review every potentially eligible borrower who calls or writes asking to be considered for the program. As contracts are signed, a list of participating servicers will be available on the Internet at www.FinancialStability.gov. Participation will be mandatory for any servicer that accepts future funding from the Treasury’s Financial Stability Program.

What will my servicer do to determine if I qualify?

Your servicer will:

Determine that your loan meets the minimum eligibility criteria (owner occupied, originated before January 1, 2009, UPB equal to or less than $729,750). If yes:

Obtain sufficient income information to determine if your monthly mortgage payment is more than 31% (approximately 1/3) of your gross or pre-tax monthly income. (Your servicer may initially accept verbal information about your income, but eventually you will need to provide proof of income in the form of tax returns and pay stubs). If yes:

Add past due charges (interest, taxes, insurance and costs that your lender paid to other parties on your behalf – but not late fees, those must be waived) to the loan balance.

Determine how much of an interest rate reduction will be required to get your mortgage payment down to a point where it is about 31% of your gross monthly income.

Apply a test to determine if the cost of the modification (including the government’s incentive payments) is less costly for the investor than a foreclosure. If yes:

Put you on a trial modification for three months at the new interest rate and payment.

If you successfully make the payments and are current at the end of the trial period, your servicer will execute a permanent modification agreement that will lower your interest rate to a fixed rate for five years.

The modification payment will also include a monthly amount to be set aside (escrowed) to pay taxes and insurance when they become due. This escrow is required even if your prior loan was not escrowed.

What happens after five years?

If the modified interest rate is below the market rate, the modified rate will be fixed for a minimum of five years as specified in your modification agreement. Beginning in year six, the rate may increase no more than one percentage point per year until it reaches the rate cap indicated in your modification agreement. The cap is equal to the prevailing market interest rate on the date the modification is finalized as published by Freddie Mac based on a survey of its customers. This cap means that your rate can never be higher than the market rate on the day your loan was modified. If the modified rate is at or above the prevailing market rate, the modified rate will be fixed for the life of the loan.

How low can my interest rate go?

Treasury is providing incentives to your investor to write the interest down as low as 2%, if necessary to get to a payment that you can afford based on your income.

What happens if that is not enough to get to an affordable payment?

If a 2% interest rate is does not result in a payment that is affordable (31% of your gross monthly income), your servicer will:

First try to extend your payment term. At the servicer’s option your payments could be extended out to 40 years.

If that is still not sufficient your servicer will defer repayment on a portion of the amount you owe until a later time. This is called a principal forbearance.

A portion of the debt could be also be forgiven. This is optional on the part of the investor. There is no requirement for principal forgiveness.

Could I end up with a balloon payment?

Yes. If your servicer determines that a principal forbearance is required to get your monthly payment to an affordable level, the amount of the forbearance. Say for example this was $20,000, would be subtracted from the amount used to calculate your monthly mortgage payment, but you would still owe the money. You would have a $20,000 balloon payment that had no interest and was not due until you paid off your loan, refinanced or sold your house.

Is housing counseling required under this program?

Borrowers, especially delinquent borrowers are strongly encouraged to contact a HUD-approved housing counselor to help them understand all of their financial options and to create a workable budget plan. These services are free. However, housing counseling is only required for borrowers whose total monthly debts are very high in relation their incomes, and it is voluntary for others.

When you apply for a Home Affordable Modification, your servicer will analyze your monthly debts, including the amount you will owe on the new mortgage payment after it is modified, as well as payments on a second mortgage, car loans, credit cards or child support. If the sum of all of these recurring monthly expenses is equal to or more than 55% of your gross monthly income, you must agree to participate in housing counseling provided by a HUD-approved housing counselor as a condition of getting the modification.

I heard the government was providing a financial incentive to borrowers. Is that true?

Yes. Borrowers who make timely payments on their modified loans will receive success incentives. For every month you make a payment on time, Treasury will pay an incentive that reduces the principal balance on your loan. Over five years the total principal reduction could add up to $5,000. This contribution by the Treasury will help you build equity faster.

I do not live in the house that secures the mortgage I’d like to modify. Is this mortgage eligible for a Home Affordable Modification?

No. For example, if you own a house that you use as a vacation home or that you rent out to tenants, the mortgage on that house is not eligible. If you used to live in the home but you moved out, the mortgage is not eligible. Only the mortgage on your primary residence is eligible. The mortgage servicer will check to see if the dwelling is your primary residence.

I have a mortgage on a duplex. I live in one unit and rent the other. Will I still be eligible?

Yes. Mortgages on two, three and four unit properties are eligible as long as you live in one unit as your primary residence.

I have two mortgages. Will a 2009 Obama Mortgage Relief Plan reduce the payments on both?

Only the first mortgage is eligible for a modification.

I owe more than my house is worth. Will a Home Affordable Modification reduce what I owe?

The primary objective of the Making Home Affordable Program is to help borrowers avoid foreclosure by modifying troubled loans to achieve a payment the borrower can afford. Investors may, but are not required to, offer principal reductions. However, it is more likely that your servicer will use interest rate reductions in order to make your payment affordable.

I have an FHA loan. Can it be modified under the making Home Affordable Program? Are all loans eligible?

Most conventional loans including prime, subprime, adjustable, loans owned by Fannie Mae, Freddie Mac, private lenders and most loans in mortgage backed securities are eligible for a Home Affordable Modification. The Administration is working with the Congress to enact legislation that will allow FHA, VA and USDA to offer modifications consistent with Making Home Affordable in the near future. Currently loans insured or guaranteed by these agencies are being modified under other programs that also enable borrowers to retain homeownership.

What should I do if my servicer tells me that the “investor” is not participating in Making Home Affordable?

As contracts with servicers and investors are signed, the list of participants will be posted at www.financialstability.gov. Borrowers should first check there to see if their servicer is listed. If so, you should call your servicer back and ask to speak to a supervisor or you may contact a HUD-approved housing counselor for assistance. If your servicer is not participating in the program, you should ask your servicer or a housing counselor about other workout options that may be available.

I’m already working with my servicer or a housing counselor on a loan workout. Can I still be considered for a Home Affordable Modification?

Yes. You should ask your servicer or counselor to explain the benefits of all available foreclosure prevention or payment reduction options. A Making Home Affordable Modification is one of many valuable tools available to your servicer. Other options may be more appropriate for your situation.

How do I apply for a modification under the Homeowner Affordability and Stability Plan?

If you meet the general eligibility criteria for the program, you should gather the financial documentation that your servicer will need to determine if you qualify. Once you have this information, you should call your mortgage servicer and ask to be considered for a Home Affordable Modification. The number is on your monthly mortgage bill or coupon book.

If your loan is current, please be patient. Treasury just published detailed program requirements on March 4, 2009 and it will take some time before servicers are fully operational. However, the Treasury has encouraged servicers to immediately begin reviewing the eligibility of delinquent borrowers that are at the greatest risk of foreclosure.

If you have already missed one or more mortgage payments and have not yet spoken to your servicer call them immediately.

What information and documents will I need?

It will help your servicer and speed processing of your application if you gather the some information and documents before you call. You will need:

Information about the monthly gross income of your household, including recent pay stubs if you receive them or documentation of income you receive from other sources.

Your most recent income tax return.

Information about your assets

Information about any second mortgage on your house.

Account balances and minimum monthly payments due on all of your credit cards.

Account balances and monthly payments on all your other debts such as student loans and car loans.

A letter describing the circumstances that caused your income to be reduced or expenses to be increased (job loss, divorce, illness, etc.).

Toll Brothers Inc. is using a subprime tactic to lure new home buyers, offering a 3.75% interest rate for seven years on conforming loans. Many companies are expected to copy the concept, in spite of how badly the economy collapsed because of it.  During the housing boom, home buyers were tempted by loans that offered shockingly low rates, only to see them reset higher, sometimes very quickly, which resulted in crippling payments two and three times the original amount.  People who were banking on a home increasing in value were sorely disappointed.  This tactic is once again being used by mortgage companies to attract prospective homeowners, ignoring how this very tactic crushed large portions of the nation’s economic vitality.

If you would like to witness for yourself just how bad the financial carnage is, go to the office of any loan modification attorney and see the long lines of people hoping they can get some help in avoiding foreclosure and stay in their homes.  People with ARM loans which have adjustable interest rates watched their monthly payments spike, often sapping them of any financial security they had.  People paying two or three times as much for their monthly mortgage payment meant less money spent on food, clothes, healthcare, cars, etc.  This hurt homeowners as well as the economy as a whole.  The number of foreclosures in certain neighborhoods, especially in California, went through the roof, as people from San Diego to Eureka and from Needles to Santa Monica had to walk away from homes they’d lived in for years.

California loan modification attorneys have seen serious fallout from all the foreclosures; people who were once pillars of their community had to move to lower income housing in other neighborhoods because they could no longer afford their mortgage payments.  Sometimes, whole communities seemed to be uprooted, and entire blocks were just covered in “for sale” signs.  City and state governments were crippled because they were not bringing in property taxes and as a result municipal services shut down.

Much of this was caused by subprime mortgage practices, and the thought of these practices returning is terrible.  California loan modification attorneys have been working night and day since the economic crisis began to help people affected by the subprime mortgage crisis, and other homeowners as well.  Foreclosures ruined entire communities, and even with loan modification attorneys working tirelessly, sometimes it seemed like a never ending battle.  For many people facing foreclosure however, a California loan modification attorney might just be their best friend.  Loan modification attorneys can negotiate with lenders, file paperwork and effectively fight to keep people in their homes and off the streets.  Trying to do a loan modification on your own might be a losing battle because of how much work it takes.  However, having a seasoned loan modification professional could save you tens of thousands of dollars in the long run.

Visit us at http://www.feldmanlawcenter.com or call 800-588-0425.

Legal Disclaimer

The information contained herein is provided for general information and advertising purposes only and is not intended to convey a legal option nor legal advice for any particular case or situation. Nothing in this article shall create an attorney-client relationship. Nothing sent to this law office via e-mail shall constitute an attorney-client relationship. Nothing contained in this article shall be construed to be a guarantee or prediction of result. Prior results are provided for general information purposes only and do not guaranty, warranty or predict a similar outcome with respect to any future matter.   Results achieved depend on individual circumstances and not everyone will qualify or be successful in restructuring their mortgage loan.

Author: Greg Feldman

Under a new program, the government will pay mortgage servicers $500 up front and $250 a year for three years for successfully modifying a second mortgage, such as a home equity loan.

Second mortgages have complicated government efforts to help borrowers avoid foreclosure.  According to the U.S.  Treasury Department, up to 50% of at-risk mortgages have second liens and many properties in foreclosure have more than one lien.

Senior administration officials Tuesday told reporters they expect a significant amount of big banks to sign up for the updated federal program to bring relief to troubled homeowners.  Once those firms sign necessary contracts, they’ll generally be obligated to modify second liens when they’ve initiated a loan modification on the first, the officials said.  They also noted that the second lien program will be funded by the $50 billion in Troubled Asset Relief Program, or TARP, funds the administration had already projected to use for home affordability efforts.

Additionally, the administration unveiled a schedule of incentives for holders of second mortgages to extinguish those liens voluntarily.

The administration also announced a set of incentives for servicers and lenders participating in the Hope for Homeowners foreclosure prevention program, which aims to restore homeowners’ lost equity by encouraging lenders to write down loan principal.  The administration said it will take steps to incorporate Hope for Homeowners into its mortgage loan modification program.  Servicers will be required to determine eligibility for a Hope for Homeowners refinancing and where it proves viable, the servicer would need to offer this option to the borrower.

While participation in the Hope for Homeowners program has been dismal, administration officials said they’re expecting strong investor interest as the program is wrapped into the broader federal loan modification program.  The administration also said it supports legislation to strengthen the Hope for Homeowners program so that it can function effectively as a key part of the administration’s new housing mortgage mediation efforts.

“With these latest program details, we’re offering even more opportunities for borrowers to make their homes more affordable under the administration’s housing plan,” Treasury Secretary Timothy Geithner said in a statement Tuesday.  “Ensuring that responsible homeowners can afford to stay in their homes is critical to stabilizing the housing market, which is in turn critical to stabilizing our financial system overall.”

During a conference call, senior administration officials said they are continuing to work on key elements of the president’s plan to stem foreclosures and agencies will be developing more details and guidelines going forward.

Still however, the million dollar question continues to linger in the minds of many homeowners. “Will it help me?”

Obama’s “Making Home Affordable” program is designed to work with lenders to modify the loan terms for up to 4 million homeowners and to refinance up to 5 million homeowners into more affordable fixed-rate loans.

Here are some questions and answers about the latest round of aid for homeowners.

A: How do I know if I qualify for the refinancing plan?

Q: Only homeowners in good standing whose loans are held by Fannie Mae or Freddie Mac qualify.

The property must be owner-occupied and the borrower must have enough income to make payments on the new mortgage debt.

Borrowers can’t owe more than 105 percent of their home’s current value on their first mortgage. For example, if your home is worth $200,000, your first mortgage can’t exceed $210,000. Borrowers with a second mortgage still can qualify as long as their first mortgage isn’t more than 105 percent of their home’s value.

Homeowners can’t take cash out during the refinancing to pay other debt.

Borrowers have until June 2010 to apply for the program.

Q: How do I know if my mortgage is owned by Fannie Mae or Freddie Mac?

A: Call your current lender or mortgage servicer. You can find the phone number on your monthly mortgage statement or coupon book.

You can also contact Fannie Mae at 1-800-7FANNIE and Freddie Mac at 1-800-FREDDIE from 8 a.m. to 8 p.m. EST. Or, go to http://www.fanniemae.com/homeaffordable and http://www.freddiemac.com/avoidforeclosure and fill out the online request forms.

Q: What borrowers qualify for the modification program?

A: You don’t have to be behind on your mortgage payments to qualify. Delinquent borrowers and current borrowers who are at risk of imminent default are both eligible.

The program applies to mortgages made on Jan. 1 or earlier. The mortgage payment including taxes, insurance and homeowners association dues must exceed 31 percent of the borrowers’ gross monthly income.

The property must be the homeowner’s primary residence. It can’t be investor-owned, vacant or condemned. Home loans for single-family properties that are worth more than $759,750 don’t qualify.

The program is voluntary, relying on a $75 billion subsidy to encourage mortgage companies to participate. Lenders must agree to reduce the loan payments to 38 percent of a borrower’s monthly income. After that, the government and lender split the cost of bringing the payment down to 31 percent.

Eligible borrowers will have to provide their most recent tax return and two pay stubs, as well as an “affidavit of financial hardship” to qualify for the loan modification program. In the affidavit, applicants will have to cite the reasons behind their financial woes, such as job loss or a drop in income. The government will then take steps to verify the information.

Borrowers are only allowed to have their loans modified once. The program runs through Dec. 31, 2012.

Q: What if I’m in bankruptcy or in active litigation over my mortgage?

A: That doesn’t necessarily keep you from qualifying for the modification program. And borrowers in active litigation can modify their home loans without waiving their legal rights.

Q: What do I do to get help?

A: For the modification program, call your lender or mortgage servicer to see if you’re eligible. For the refinance program, first find out if your mortgage is held by Fannie Mae or Freddie Mac. Then contact your lender, mortgage servicer or a mortgage broker for refinancing options.

Q: How soon can I get help?

A: Both the modification and refinancing programs start immediately.

Q: What if I don’t qualify for either program – is there any other way to get help with a mortgage?

A: Contact your lender or mortgage servicer regarding other modification programs or refinance options. Alternatively, contact a local housing counselor to negotiate with your lender or servicer, to help locate other local resources like rescue grants or loans, or to facilitate a short sale or deed-in-lieu of foreclosure if staying in the home isn’t possible.

A short sale is where homeowners sell houses for less than the amount owed on them, and the lender then considers the debt paid off. A deed-in-lieu of foreclosure is where the borrower gives the property to the lender to satisfy a delinquent loan and to avoid foreclosure proceedings.

Local housing counselors can be found at the U.S. Department of Housing and Urban Development’s Web site at http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm.

Q: Do FHA, VA or USDA home loans qualify for modifications under the Obama Loan Modification Plan?

A: Mortgages backed by the Federal Housing Administration, Veterans Administration or the U.S. Department of Agriculture are being modified under other programs. The Obama Administration and Congress are working on legislation that would allow modifications of these home loans consistent with the Making Home Affordable program.

Since mortgages are governed by home mortgage rates and mortgage rates are governed by some financial index (which keeps fluctuating all the time), the home mortgage rates keep changing all the time. It might so happen that the home mortgage interest rates, at the time you got your East Stroudsburg mortgage were much higher than what they are now (you will know this if you have been keeping a tab on the mortgage interest rates or even if you have been reading your newspaper regularly). In such a case you might again go back to the mortgage payment calculator (there are good mortgage payment calculators available on the Internet) and check if it a good time to get your East Stroudsburg mortgage refinanced. Sometimes the changes in tax policies might prompt you to do that. Similarly, if you are on an adjustable rate mortgage and the interest rates have gone pretty low, you might want to get your mortgage refinanced to a fixed rate mortgage.

That means you need to be vigilant, look for changes in the home mortgage interest rates, and evaluate if shifting to a new mortgage rate might be beneficial to you. Your East Stroudsburg mortgage calculations never stop

According to the Truth in Lending Act even a small mistake with calculating the borrower’s annual percentage rate could be an actionable violation, enabling the borrower to rescind the loan. Therefore, the threat of a lawsuit is often sufficient to persuade an otherwise uncooperative lender to negotiate an attractive work out with the borrower.

Until recently Forensic Loan Examinations were only made available to large banks and lending institutions wanting to determine their own exposure to risk and potential legal liabilities prior to purchasing large pools of mortgage loans. But now a Maryland company staffed by veteran mortgage professionals is offering this service to distressed homeowners at an incredibly affordable price. “While our competitors may charge up to $3000 for a Forensic Loan Audit, we decided to offer this product at a price almost anyone could afford” Said Dean Mostofi, the founder of National Loan Audits in Rockville, Maryland, a Washington, DC suburb. The firm charges $495.00 for a comprehensive mortgage document review and provides the homeowner with a 40-page written report that contains a detailed listing of their findings in an easy to read format.

Mostofi says that over 80% of the loan files reviewed by his firm contain violations ranging from small and unintentional mathematical errors to blatant fraud and misrepresentation. The most common violation is the understatement of prepaid finance charges and in many instances a mere $35 error within the Truth in Lending disclosure statement could entitle the borrower to a refund of all finance charges, closing costs and interest payments made since the inception of the loan.

Forensic Loan Reviews are also used by attorneys assisting borrowers with loan modification and foreclosure defense but according to Mostofi most lawyers who contact him don’t know much about the more creative legal tactics currently being employed by a handful of savvy foreclosure attorneys. Consequently, Mostofi also offers a consulting service to attorneys helping them understand the remedies available to their clients in the event the lender violated the Truth in Lending Act or if it cannot prove ownership of the note. “Amazingly, many lenders don’t legally own the note” says Mostofi “but since no one challenges their right to foreclose, they get away with it” he added.

The intent of an audit is not to force the parties in to a lengthy and costly lawsuit but rather to encourage the lender to sit down with the borrower and to negotiate an affordable work out so the borrower can keep the home and the lender can mitigated its loses. “The audit is to give homeowners more ammunition so they can stand a chance in negotiating a decent modification with lenders who have far more resources than the average borrower and often play hardball unless they are faced with the risk of a costly lawsuit” said Mostofi.

National Loan Audits was founded by Dean Mostofi and it is based in Rockville, Maryland.

These mortgage calculations, which you perform before even looking for a house, are related to affordability. For example, if you were looking to mortgage a house in Pocono, you would need to consider the going rate of properties in Pocono and check your finances/ funds to find out what kind of house you can afford (if any). At the same time your mortgage calculations will also need to include what mortgage loan amount you can get and at what interest rate. You can use a website fron the Internet to get a number of mortgage offers (and that too in very short time). You can also calculate your mortgage payments and even get your complete amortization schedule by using the mortgage calculators on a website (e.g. there are quick mortgage payment calculators available on the Internet). Once you are done with all your mortgage calculations, the viability of going for your Pocono mortgage will become very clear to you. Another consideration might be the economic indicators and reports on the trend for mortgage interest rates i.e. reports on whether they are expected to rise or fall in the near future. Putting everything into perspective, you can then decide on whether to go for buying the house now or later (however, do not forget to take into consideration the fact that there might be an appreciation in the property rates and you might need more money to buy a property of the same type).

The adjustments for adjustable rate mortgages (ARMs) will continue through 2010 and into 2011. Most homeowners will be unable to refinance due to loss of equity in their home, their job, or other hardship. So, their best option is to negotiate with their loan servicing company or let the home go into foreclosure. Homeowners need to understand that when they send in a payment to the lender or loan servicer, that is their primary business to collect debts not negotiate with the public to change terms or modify interest rates. Furthermore, in a majority of the cases the borrowers do not get through to the right person or worse yet call them back in a timely fashion until they are close to foreclosure.

If a borrower has a truthful hardship and the bank is slow to react or refuses to listen what happens is a foreclosure results and the borrowers credit is hurt for seven years. When you are facing this situation and getting nowhere with a business and you don’t get the results you need in a timely manner, you should hire an attorney who specializes in foreclosures and loan modifications!

There are many stories from borrowers who say they most banks will not discuss your situation unless you are behind two to four months in payments. Once that occurs, your hard earned credit scores from years of being responsible are wiped out. Furthermore, you may never be eligible for a home loan at market rates for quite some time. The solution is to use a Loan Modification company that actually does have an attorney on staff to get answers and responses quickly so your situation is resolved quickly. You end up keeping your home, getting a loan modification, reducing your interest rate to an affordable level, and in some cases reducing your loan principal but there’s no guarantees. An experienced debt representative from the attorney backed loan modification company will call you to see if you do qualify based on certain criteria. Although, some firms will take your money and you don’t qualify. Those are the ones you have to watch out for. They hit you when you’re down. Work with a company that has success, years of experience, paralegals and an attorney on staff. You will feel more at ease knowing you have the best team working on a solution for you whether it be a short sale, a deed in lieu of foreclosure, tax ramifications of short sale, or a loan modification.

A lawyer who specializes in negotiating with lenders can achieve magical results especially if they find RESPA or TILA violations to use for leverage. A real estate attorney understands how to speak their language and get the lender to negotiate. When a homeowners uses an Attorney, the lender’s loss mitigation and legal department become very receptive and responsive. Get a good legal team on your side to stop foreclosure and get a loan modification!