STRATEGIC DEFAULT AND THE BANK OF NEW YORK MELLON

???? Vol.5 ??????Does Bank of New York Mellon own your loan?

Do you owe more than your property is worth?

Are you unable to make your mortgage payments, or have stopped paying on your mortgage for over five years?

At the Law Offices of Jacqueline A. Salcines, PA we represent property owners that are being sued by Bank of New York Mellon.  Whether you wish to be qualified for a loan modification or a short sale or a deed in lieu, we negotiate with your lender in order to get you the best result for your situation.

What sets up apart from the rest of the Florida attorneys handling loan modification and short sales?  That we qualify you BEFORE we take on your case. Before we promise you a loan modification. We want to make sure that your financial information meets the Making Homes Affordable or investor guidelines in order to take on your case.  If you want to modify, and do not have enough income, we can look for contributors or other family members that can commit to contributing part of their income.  If you want to short sale and earn too much money, this is by no means a reason for being disqualified for a short sale.

Even if the home is an investment or not owner occupied, or commercial, you can still short sale your property.

No office visit is required and the phone consultation is 100% free of charge.  Call and speak to attorney Jacqueline A. Salcines, Esq. Today!

TRUST |  COMMITMENT  | RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280
EMAIL: J.SALCINES@SALCINESLAW.COM

 

 

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HELPING HOMEOWNERS MODIFY THEIR LOAN AND AVOID FORECLOSURE

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Loan Modification Green Road Sign with dramatic clouds and sky. If you are  currently having difficulty making your mortgage payments and in fear of losing your home to foreclosure, the Making Home Affordable Program has options available to assist you.  There are many new and different programs to assist a wide array of borrowers.  Whether:

 

  • Your home value has dropped
  • You are a member of the Military
  • Your are Family of Military
  • You are Unemployed
  • You no longer occupy the property
  • You are divorced
  • You are facing medical bills
  • You have a second mortgage
  • You have a reverse mortgage

and

  • You occupy the house as your primary residence
  • You obtained your mortgage prior to January 1, 2009; and
  • You owe no more than $729,750.00 on your mortgage balance

-Source –  Makinghomeaffordable.gov

The Making Home Affordable Program may offer you

  • lower monthly payments
  • lower interest rates
  • principal forgiveness and/or principal reduction
  • 40 year amortization

Not all servicers participate however.  And it is critical to make sure yours does.  This is easy to check on the Making Home Affordable Website or you can contact our office to  see if your lender participates in the plan in order to see what you qualify for.

It is also critical to find out if your loan is owned by FANNIE MAE or FREDDIE MAC. This make a huge difference in the reduction and cancelation of debt to the borrower.

Many attorneys take on any client coming in their doors to modify their loans. However, we at the Law Offices of Jacqueline A. Salcines, P.A. handle our modifications differently.  First and foremost, we use a program designed just for our firm under the Making Home Affordable guidelines to qualify you and determine your new projected mortgage payment and balance.

During the initial consultation with attorney Jacqueline A. Salcines, Esq., we will run your numbers and see whether you qualify you for a loan modification under the HAMP Program. If your numbers do not qualify you under the HAMP Program, your servicer may still participate in other in house modification programs.  We are well versed in the lender programs and can provide qualification and guidance on them.

Call today for a free, no obligation consultation with Attorney Jacqueline A. Salcines, Esq.

TRUST  |  COMMITMENT  |  RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, ESQ.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FLORIDA 33146

TEL. (305) 669-5280

DIRECT EMAIL:  J.SALCINES@SALCINESLAW.COM

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WELLS FARGO TERMINATES OCWEN FROM MORTGAGE SERVICING DEAL

LET US ALL BREATHE A SIGH OF RELIEF………  Ocwen Financial Corp., the nations largest non-bank has lost its servicing rights in two bond deals, announced Thursday.  As well all know, dealing with Ocwen in both loan modifications and short sales is nothing short of exhausting.  With time frames that don’t coincide with American business practices, agents that can barely speak English and downright have very little working knowledge of the mortgage industry is characteristic of Ocwen.

“Ocwens’ regulatory troubles over its servicing practices have been well-chronicled in the last two years. Alleged servicing violations have resulted in Ocwen settling for $150 million with the New York Department of Financial Services in December and $2.5 million with the California Department of Business Oversight in January 2015.

– Source: DS News February 26, 2015.

Wells Fargo agreed in 2014 to sell $39 billion of its mortgage servicing rights to Ocwen. But nine months later, they called off the deal.  A lengthy investigation followed which found the Atlanta based service had sent backdated foreclosure notices to about 7,000 borrowers after it was too late for them to obtain loan modifications.  This led to a $150 million settlement.

Earlier this week, Ocwen announced that it will be selling its portfolio to Nationstar.

BORROWERS IN FORECLOSURE:  If you have a loan serviced by Ocwen or are in foreclosure and were provided a foreclosure notice by them, contact an attorney to assist you and fight for your rights.

We can review your documents and advise you free of charge of your rights. The first consult is always free.

TRUST |  COMMITMENT  |  RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, P.A.
706 S. DIXIE HIGHWAYS
SECOND FLOOR
CORAL GABLES, FL 33146
TEL 305 669 5280
J.SALCINES@SALCINESLAW.COM

 

 

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METLIFE SETTLEMENT FOR $123.5 MILLION ON MORTGAGE LENDING VIOLATIONS

METLIFE HOME LOANS has agreed to settle its claims on its mortgage lending violations for $123.5 million.  Metlife Home Loans’,  a mortgage finance company out of Irving Texas, violations stem from allegations that it violated lending regulations that contributed to the mortgage foreclosure debacle.  Under the False Claims Act, Metlife is being held accountable for its contribution  to the financial distress across the country.  It is alleged that it  knowingly “originating mortgage loans insured by the FHA and the US Department of Housing and Urban Development (HUD) that did not meet applicable requirements”.  Source – DS News Article February 26, 2015.

Pursuant to the Metlife Settlement, Acting Assistant Attorney General Joyce R. Branda stated, “Metlife Bank’s improper FHA lending practices not only wasted taxpayer funds, but also inflicted harm on homeowners and the housing market that last to this day” said Acting Assistant Attorney General Joyce R. Branda of the Justice Department.  Metlife further admitted its wrongdoing in its FHA-insured mortgage loans that did not meet underwriting requirements.

If you have a mortgage loan that originated with Metlife you may be entitled to compensation or settlement. Speak to an attorney today to discuss your options.  The first consultation is always free of charge with attorney Jacqueline A. Salcines, Esq.

TRUST  |   COMMITMENT  |  RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, P.A.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FL 33146

TEL. (305) 669-5280

J.SALCINES@SALCINESLAW.COM

 

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NON-BORROWING SPOUSE CONFUSION ON FORECLOSURES

The Consumer Financial Protection Bureau  (CFPB) reports that the number one complaint they receive is from Non-borrowing spouses who survive the borrowing spouse and wish to keep the house.  When the borrower spouse dies, the surviving spouse often faces foreclosure, despite the fact that they wish to keep the house.  If they can add their income and other family members income, they are able to make the mortgage payments. But often mortgages are not assumable, specially reverse mortgages that have their own tables and do not permit assumption.

Good news from the Department of Housing and Urban Development through comes from their implementation of new rules to help non-borrowing surviving spouses in situations just like there.  As of January 12, 2015, the mortgage companies must begin complying to help non-borrowing spouses with retention options, and allow greater leeway to defer loan payments after the death of the borrowing spouse. This permits them to stay in the house.  The rules become mandatory for the banks after March 9, 2015.

If you are a surviving spouse, of either a regular mortgage or a reverse mortgage, and a non-borrower, contact us today to review your options.

The first consult is always free.

TRUST  |  COMMITMENT  |  RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES P.A.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FL 33146

TEL. 305 669 5280

J.SALCINES@SALCINESLAW.COM

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HOMESTEAD EXEMPTION MARCH 2 DEADLINE

foreclosure_defense The March 2, 2015 deadline to apply for Homestead Exemption in Miami is fast approaching.  A homestead exemption is when a property is owned by a person that uses the home as their primary residence as defined by Florida Statutes.  In order to qualify for a homestead exemption, aside from being a primary residence, the homeowner must prove that they are either:

  1. U.S. Citizen; or
  2. Resident.

In order to qualify, you can go in person up until March 2, 2015 and requires proof of citizenship, residency and a copy of the deed to the property.

Often, the county also requests proof of residence in the form of either a utility bill (FPL or Water).

Once a homestead exemption is granted, this works to benefit the homeowner on their real estate taxes in two ways;

  1. First if caps out the increases from year to year on taxes by no more than 3%; and
  2. Gives an automatic credit off the assessed value of $50,000.00 meaning that the homeowner automatically experiences a significant discount on their taxes.

 

Once claimed and granted, the homestead exemption renews automatically year to year. No need to do anything.

You are only allowed one exemption per household.

For more questions, please contact us for a free consultation.

TRUST |  COMMITMENT  |  RESULTS

 

JACQUELINE SALCINES. P.A.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FL 33146

TEL. 305 669 5280

J.SALCINES@SALCINESLAW.COM

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FORECLOSURE SALE CANCELLATION

House and lawIS YOUR FORECLOSURE SALE FAST APPROACHING?  IS YOUR LOAN MODIFICATION NOT YET APPROVED?  IS YOUR SHORT SALE STILL NOT APPROVED, OR WORSE, DO NOT HAVE A CONTRACT YET? WE CAN HELP.

AT THE LAW OFFICES OF JACQUELINE SALCINES, P.A. WE HAVE BEEN ASSISTING HOMEOWNERS WITH THEIR MORTGAGE AND FORECLOSURE DEFENSE FOR OVER 15 YEARS.  AS BOTH AN ACCOUNTANT AND REAL ESTATE LAWYER, JACQUELINE SALCINES, ESQ. IS WELL EQUIPPED TO NAVIGATE THE FORECLOSURE WATERS AND OBTAIN A CANCELLATION OF YOUR SALE.

THE CONSUMER FINANCIAL PROTECTION BUREAU (CFPB) HAS ISSUED GUIDELINES FOR LENDER TO STOP FORECLOSURE SALES IF A LOAN MODIFICATION HAS BEEN SUBMITTED 37 DAYS PRIOR TO THE FORECLOSURE SALE. HOWEVER, MANY TIMES THE LENDER DOES NOT MOVE TO CANCEL THE SALE. THEREFORE, IT IS UP TO THE BORROWER TO DO SO, THROUGH THEIR ATTORNEY.

THE COURTS IN FLORIDA ARE VERY LIBERAL AND GRANT EXTENSIONS WILLINGS.  BY GOING TO COURT, YOU CAN EXPECT A 90 TO 120 DAY EXTENSION, IN ORDER TO GAIN ENOUGH TIME TO GET THE LOAN MODIFICATION APPROVED OR THE SHORT SALE APPROVED.

CALL AND GET YOUR FREE CONSULTATION TODAY.  WE CAN GO TO COURT AND CANCEL YOUR FORECLOSURE SALE AND VERIFY THAT YOU HAVE SUBMITTED A QUALIFIED LOAN MODIFICATION OR SHORT SALE.

THE FIRST CONSULTATION IS ALWAYS FREE OF CHARGE.

TRUST  |   COMMITMENT  |  RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE SALCINES, P.A.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FL 33146

TEL. 305 669 5280

J.SALCINES@SALCINESLAW.COM

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SHORT SALE ATTORNEY IN MIAMI

office_outside-med In the current Florida housing market, many people hear the term short sale or even look at these properties when trying to purchase a home, but they do not understand what a short sale is. A short sale occurs when someone owes more on his or her home than it is worth, which also known as being underwater on your mortgage, and are no longer able to maintain the mortgage payments. The bank may then agree to accept an amount short of the balance due on the mortgage, thus allowing the owner to sell the home to a new owner who can afford to make payments.

In certain situations, short sales are a viable solution that can help avoid foreclosure. Although the amount of the loan does not change, the bank is now willing to accept less than the balance owed in return for allowing the home to be sold. It takes an experienced attorney to analyze whether a short sale is in the best interest for a homeowner and to steer through the complex procedures successfully in order for a bank to accept a short sale petition.

At The Law Offices of Jacqueline A. Salcines, PA we can help you explore your options if you can no longer afford the payments on your mortgage. We can help you fight foreclosure or stop a foreclosure by pursuing a short sale, based on what will put you on a path to a better emotional and financial future. We will carefully listen to your concerns and explain all of your options fully, so you can make an informed decision.

If you need help, start seeking answers from experienced Miami short sale attorneys today. Understand your rights, and contact us at 305-669-5280 to schedule a free consultation.

In order to have a short sale accepted, we will help you prove the following:

  • You are no longer able to make the mortgage payments
  • You must have a hardship such as an illness in the family, a job loss or other serious situation that affects your finances
  • You must prove the current value of the home is substantially less that the balance owed
  • The bank or lender agrees to accept a sale price that is less than what you owe
  • You must have a qualified buyer offer to purchase the property
  • The bank or lender must accept the buyer’s offer

There are tax implications and the possibility of a deficiency balance to a lender, which we can help you understand, negotiate and handle.  Our personal, detailed service has helped thousands of people from all walks of life and income bracket and now we are ready to help you.  Call us today!

TRUST  |   COMMITMENT |   RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE SALCINES, P.A.

706 S. DIXIE HIGHWAY

SECOND FLOOR

CORAL GABLES, FLORIDA 33146

TEL.  305 669 5280

J.SALCINES@SALCINESLAW.COM

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MORTGAGE DEBT RELIEF ACT EXTENDED THROUGH DECEMBER 31, 2014

Way Signs "Bailout - Collapse"FOR HOMEOWNERS WHO SHORT SALED OR MODIFIED THEIR LOANS IN 2014, THE GOVERNMENT EXTENDED THE PROTECTION UNDER THE MORTGAGE DEBT RELIEF ACT OF 2007.  WHILE CONGRESS HAD HOMEOWNERS ON PINS AND NEEDLES TO THE END OF 2014, NOT KNOWING WHETHER THE DEADLINE OF DECEMBER 31, 2013 WOULD BE EXTENDED THROUGH 2014, IT WAS FINALLY ANNOUNCED THAT THE DEADLINE WAS EXTENDED TO DECEMBER 31, 2014.  ANY SHORT SALE THAT CLOSED DURING THIS TIME, AS LONG AS IT WAS THE PRIMARY RESIDENCE OF THE BORROWER, IS ELIGIBLE FOR RELIEF. THE HOMEOWNER NEED NOT PAY ANY PENALTY TO THE INTERNAL REVENUE SERVICE UNDER A 1099-c CANCELLATION OF DEBT.

FOR HOMEOWNERS WHO MODIFIED THEIR LOANS AND OBTAINED PRINCIPAL FORGIVENESS, THE SAME PROTECTION APPLIES RETROACTIVE.

IT IS UNCLEAR WHETHER THE DEADLINE WILL BE EXTENDED INTO 2015, BUT IS EXPECTED.

SHORT SALES AND LOAN MODIFICATIONS CONTINUE TO BE ON THE RISE.  AND NOW WITH THIS NEWS AND EXPECTED EXTENSION, IT IS A GREAT TIME TO SEE IF YOU QUALIFY.

CALL US TODAY FOR A FREE CONSULTATION TO SEE IF A LOAN MODIFICATION OR SHORT SALE IS POSSIBLE.

TRUST  |   COMMITMENT  |  RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, P.A.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL: 305 669 5280
J.SALCINES@SALCINESLAW.COM
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WHAT DO THE OSCARS TELL US ABOUT THE PRACTICE OF LAW

office_outside-med Watching the Oscars tonite, I couldn’t help but feel such overwhelming pride for all the winners.  Reaching the height of their career, with limitless possibilities for the future. As one of the winners was so poignant to point out “this country was built on hope” and I felt that hope alive for all the actors and actresses nominated and winning their Oscars.

And it made me reflect on my career.  After 15 years practicing, one always wants to be recognized by their peers and hope that after so much struggle, defending so many clients’ rights and standing up for justice, that I have reached the peak of my career.  There are so many notable cases I am proud of.  So many loan modifications and mortgage balances I have been able to get forgiven. So many short sales and over $14,000,000 million in loans written off. So many closings, so many estates and lives planned for the future.  Certainly a pat on the back and a smile is in order. Yet, as an attorney, one never really feels at the top of their game.  There is always the next client, the next fight, the next case.  There is always one other person that wants to buy a house and is in need of my services.  Or another person that is struggling to pay their home and needs assistance.  Some have never heard of me and I must prove myself all over again.  Most come referred, already aware of my skills even before they walk in the door.

Certainly I would love an Oscar for my 15 years practicing and assisting clients.  I feel I have earned one. Yet, in the same breath, I feel that there is still so much left to do.  I love what I do.  It is not work for me.  It is a career and my life.  I love the practice of real estate and mortgage law.  And I could not imagine myself doing anything else.

So, until I get my Oscar, I will continue to help people who need my help.  The struggling homeowner or the millionaire looking to purchase an estate.

I am always a phone call away.

TRUST   |   COMMITMENT  |  RESULTS

Jacqueline A. Salcines

Jacqueline A. Salcines

JACQUELINE A. SALCINES, P.A.
706 S. DIXIE HIGHWAY
SECOND FLOOR
CORAL GABLES, FL 33146
TEL. 305 669 5280
J.SALCINES@SALCINESLAW.COM
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