SOURCE: Nonprofit Alliance of Consumer Advocates

Nonprofit Alliance of Consumer Advocates

August 18, 2015 00:00 ET

Failed HAMP Loan Modifications Result in $7,464,565.00 in Relief for Many Homeowners Avoiding Foreclosure Through the Nonprofit Alliance of Consumer Advocates

COSTA MESA, CA--(Marketwired - August 18, 2015) - Frustrated homeowners are still losing their homes after repeated requests from lenders to submit and resubmit loan Modification applications, only to get forestalled then eventually rejected for unjustifiable reasons. Homeowners faithfully making Temporary Trail Payments while in review for a loan modification are still getting foreclosed upon with multiple violations of law by their lender that can win them $50,000.00 per violation and possibly reverse the Trustee Sale.

Attorney Peter Nisson, the Nonprofit Alliance of Consumer Advocates Sr. Director of Legal Services, states, "It's unfortunate that the Government's HAMP program that allows a 2% interest rate for 40 years and interest free principal balance deferment that would allow just about every American to retain their home is still today only being voluntarily granted to very few. Since it's funded by our Tax Payer Dollars you would think most everybody would get approved voluntarily yet today many people are still losing their homes, many illegally."

When asked why he thinks so few get voluntary Loan Modifications approved by their lender, the Nonprofit Alliance of Consumer Advocates Director Mr. Purander Amin, a state licensed Real Estate Professional, said, "We were informed by a very reliable source that the Government's National Mortgage Settlement agreement made with the Mortgage Giants that forces lenders to help homeowners was only on Servicer-owned Loans not Investor or Trust Owned Loans. Most people don't know the difference!"

Mr. Amin then shared with us how his Nonprofit Organization, which offers free Loan Modification services as well as free lender fraud and violations analysis, has been able to obtain over $7,469,565.00 in principal reductions, payment relief and delinquent payment forgiveness to homeowners who have previously been rejected by their lenders. He said, "Fortunately many people have Servicer-owned Loans and we have proprietary software that blends each client's financial profile with their existing loan current or not against the HAMP algorithms so we can immediately identify a correct or incorrect submission. Once we submit our package the Law mandates the lender acknowledge our submission within 5 days, then provide a final response within 30 days. Those are the easy ones; the more difficult are when one has an Investor or Trust Owned Loan and the lender simply ignores the Homeowner or denies help. Then we identify violations of law and provide the homeowner free consultation with a state bar licensed Attorney in their state. We've established Attorney relationships in all 11 Federal Districts across the Country, so our success stories go from California to Florida. Concerned Homeowners simply need to contact us and let us help."

Nonprofit Alliance of Consumer Advocates is a registered division of ‘Serve All Help All,’ a 10 year Non-Profit Organization that now has Mortgage, Real Estate, Loss Mitigation, Law Professionals and Private Equity Investment Firms all working collaboratively to help you preserve your right of homeownership, both before, during as well as post foreclosure.

In the current economic cycle, SAHA has realized that when there is no roof over one's head, education and a healthy life style become academic concepts. In association with the Nonprofit Alliance of Consumer Advocates, SAHA educates home and small business owners at no cost to maintain their homes and a decent lifestyle, providing necessary tools and information.

In a few years, this non-profit has helped thousands of homeowners either by providing completely free home loan modification assistance, free lender fraud and violation reports and free legal consultation to help to bring the lenders to the negotiating table to settle with them as well as new loan resolution and private investment firm assistance to retain their right to homeownership. Nonprofit Advocates of Consumer Assistance clients have benefited by seeing Principal Reductions as much as 50% of their Home Loans and even up to $205,000.00 in cash awards as well as being able to Liquidate their over encumbered Home to a friendly investor who offered client a lease back with an option to buy the property back at market value.

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