Home Mortgage Protection

1. Home Mortgage Protection Services Welcome To Our Seminar “Today’s Preparation Determines Tomorrow’s Achievement”

2. Home Mortgage Protection Services “Today’s Preparation Determines Tomorrow’s Achievement”

3. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” AS A HOMEOWNER YOU ARE ENTITLED TO CERTAIN RIGHTS THAT YOU MAY NOT HAVE BEEN INFORMED ABOUT! PROTECT YOUR RIGHTS!

4. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” ACCORDING TO THE NEW YORK TIMES: About one in eleven homeowners are facing loan or mortgage problems. Mortgage foreclosure filings have increased 93% over the last year. Projections call for 4 million more foreclosure filings in 2009.

5. Home Mortgage Protection Services “Today’s Preparation Determines Tomorrow’s Achievement” FACTS: 2009 – More than 4 million Americans will lose their home this year due to a foreclosure. Foreclosure does not discriminate. It could happen to anyone in any financial income bracket. Foreclosure is non-forgiving. However, foreclosure can be prevented if you act quickly!

6. Home Mortgage Protection Services “Today’s Preparation Determines Tomorrow’s Achievement” DO ANY OF THE FOLLOWING SOUND FAMILIAR? Your home has decreased in value. Your mortgage interest rate is going up. You owe more than your home is worth. Your mortgage payment is more than you can afford. You are 1, 2, 3 months or more behind in your mortgage payments. You received a “Notice of Default” from your lender. You are facing an eminent foreclosure and public sale “YES” to any of these questions may qualify you for our Program!

7. “Today’s Preparation Determines Tomorrow’s Achievement” This is not a refinance, short sale or loan modification. Home Mortgage Protection Services

10. Home Mortgage Protection Services “Today’s Preparation Determines Tomorrow’s Achievement” What is a Lis Pendens? Means litigation is pending on your property. (lease pen-dense) n. Latin for "a suit pending," a written notice that a lawsuit has been filed which concerns the title to real property or some interest in that real property. Creates a “cloud” on title. Gives you time. Eventually receive a settlement that is satisfactory to you.

11. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” YOUR LENDER CAN SETTLE WITH YOU! The loan interest rate may be decreased. The interest rate can be changed from an adjustable to a fixed rate. The period of time the borrower has to pay the loan back may be lengthened. The loan balance may be reduced or cut in half. Back Payments can be forgiven. The type of loan can be changed altogether

12. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” Processing Requirements Submit Income Documentation Write a hardship letter Provide Utility Bills, Expense information to show cash flow HMPS No Income Documentation Required No Hardship letter required No Expense Statements required Loan Modification Must submit proof of income, Pay Stubs, Tax returns, etc. Hardship letter required to validate reason why Loan Mod should be approved Need to submit Tax returns, Utility Bills, Expense Statements to show how income is allocated.

13. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” Processing Requirements Loan Modification HMPS Hi Submit Entire File to loan company for processing Settlement offer sent to borrower Rental properties submitted to loan company for processing No Detailed file is necessary & No approval is required. When Settlement offer is finally made, borrower can accept or reject the offer. Settlement offers can be made on rental propertiesi File Received and sent to lender for evaluation and approval Must Accept offer presented, no bargaining power. Rental Agreements do not qualify for a loan modification

14. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” Real Estate Foreclosure News JP Morgan Chase which now owns Washington Mutual, and one of the nations biggest lenders, has embarked on one of the most ambitious efforts to lower mortgage payments and modify loans not only to include the mortgages the bank owns but also to include more than $1 trillion of loans sold to investors. Faced with political pressure and ballooning losses, the banks are racing to modify millions of loans by lowering mortgage payments, reducing mortgage balances and extending loan terms. Faced with mounting lawsuits, banks are trying to keep borrowers in their homes and limit their losses associated with foreclosures in formulating the plan. It is expected that once the plan is put into action, other banks and lending institutions will follow suit to modify their loans. Lawsuits prevent lenders from moving forward in modifying these loans. The bank said they want to work with borrowers and believes that it can legally modify a “vast majority” of investor owned mortgages. JP Morgan also stated that they would rather see banks overhaul the terms of their mortgages rather than see them slide into foreclosure or have a bankruptcy judge reverse the terms. Reprinted from the Investors Journal, January 2009

15. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” OPERATIONAL FLOW CHART File Denied Money Refunded Lender Served Borrower completes Application, sends app and & loan docs to HMPS Lawsuit sent to borrower for signature Submits file to CRO for Evaluation Lawsuit filed with County. Case Number Assigned Completed file sent to CRO to prepare lawsuit Lis Pendens

16. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” Judicial Foreclosure Court Intervention Court determines if complaint is valid Judgment issued for full amount owed Writ issued authorizing a sheriffs' sale Non-Judicial Foreclosure No court intervention Requirements established by state statutes NOD mailed to homeowner Usually 90 days before public sale notice is filed

17. Home Mortgage Protection Services “Today’s Preparation Determines Tomorrow’s Achievement” The Timeline of Events The Foreclosure Period Late or Delinquent On monthly mortgage payments Notice of Default Notice of Trustee sale 90 to 120 days 90 days 21 days Trustee sale by auction Last Payment Made NOD is recorded NOTS is Recorded Minimum from recording date of NOTS per State law (non Judicial) Minimum from recording date of NOD per State law Since last mortgage payment was received by lender This information is for reference purposes only and is not intended to represent any particular homeowner’s situation. The actual timeline of events will vary according to each homeowner’s circumstances, the objectives of the lender and the state they reside in.

18. Home Mortgage Protection Services “Today’s Preparation Determines Tomorrow’s Achievement” Here area few examples of some real loan settlements: Settlement#1 Notice of Default filed. Notice of foreclosure filed PMT $3800/mo 11.5 adjustable rate Delinquent amount: $13,500 Solution: Foreclosure canceled. Delinquent amount cancelled: New payment $2500/mo @ 7% Rate Settlement#2 Notice of default filed. PMT $2212/mo @ 9 % adjustable Delinquent amount: $30,941 Principal Balance: $295,000 Solution: Foreclosure cancelled. Delinquent amount reduced to $6000 New pmt $1500/mo @6.65% Rate New Principal Balance: $226,740 Settlement#3 Notice of default filed Pmt 2309/mo @ 8.5% Adjustable Principle Balance $323,925 Delinquent Amount: $13,426 Solution: Foreclosure cancelled, delinquent amount cancelled New pmt $2040/mo @ 7.95% fixed, New Principal Balance $266,125

19. Home Mortgage Protection Services “Today’s Preparation Determines Tomorrow’s Achievement” WE STAY WITH YOU!

20. Home Mortgage Protection Services “Today’s Preparation Determines Tomorrow’s Achievement” Notice of Default

21. Home Mortgage Protection Services “Today’s Preparation Determines Tomorrow’s Achievement” Unlawful Detainer

22. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” Don’t try to “go-it” alone We Know your rights as a homeowner Bankruptcy is the last option and should be avoided if possible Ongoing consultations, answers to questions, discussions about your case available throughout the process PROTECT YOUR RIGHTS! PROTECT YOUR HOME!

23. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” What about the cost? Researching Loan Documents for Errors and Omissions $350 Documenting Errors and discrepancies $425 Preparation of Lawsuit $1,300 Preparation of Lis Pendens $750 Court Costs / Filing / Case Number $475

24. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” Identifying the Agent of Service $150 Retain Process Server $225 Unlimited Consultations with our Attorney @200.00/hr for 1 year (50 Hours) $10,000 Responses to your Lender @ $200.00/hr (40 Hours) $8,000 TOTAL $21,675

25. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” Lawsuit Preparation and Lis Pendens Preparation $7,500 Filing Fees (Can vary per county. Price quoted is based on an average amount) $375-500 Monthly Maintenance Fee $0 ($1,000 after 6 months)

26. Home Mortgage Protection Services“Today’s Preparation Determines Tomorrow’s Achievement” “Obstacles can't stop you. Problems can't stop you. Most of all other people can't stop you. Only you can stop you.” Jeffrey Gitomer