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Archive for June, 2011

In today’s unpredictable economy, you can’t take anything for granted. You don’t know if you’ll have a job tomorrow, if you will be asked to take an unpaid vacation, or if the interest rate on your home mortgage will spike. What if gas prices soar? Will a trip to the grocery store for your family’s weekly necessities cost more? So much of the territory that our country, and the world, is venturing into is unchartered.

While we don’t know what the future holds, we can try to plan appropriately for it. How can you prepare yourself for future expenses, save money, or spend less in your current situation? Many wise people are considering these questions now.

In addition to planning for the future, we can also take advantage of the opportunities that we are offered today. One opportunity being offered to many troubled homeowners is a home loan modification.

President Obama’s housing plan involves offering many people a chance to modify their home loans. If a distressed homeowner lives in his or her property, falls within the requirements for the amount they owe, and meets additional criteria, they could be eligible for the government plan. The FDIC even has a “mod in a box” home loan modification program that they are hoping to enlist lenders in taking part in. Even if you don’t take advantage of the government’s specific plans, and are a homeowner in a volatile financial situation, you can still opt to modify your home loan.

With the help of the Feldman Law Center, you can have a better chance at protecting your financial future. You do not know when home loan modifications will start to taper off, how long you will be at your current job, or how your taxes could be changed in the future. If you are concerned about your adjustable rate mortgage, or a potential bankruptcy or foreclosure, you need the help of experienced attorneys on your side.

The federal government as well as many state governments, are talking about increasing taxes. What is the potential fallout of that? Given the uncertainty we are facing now, it is hard to guess what higher taxes might result in. But perhaps homeowners would have to pay higher property taxes, or perhaps additional fees and penalties could be added to home loan modifications.

Debates on the efficacy of taxes, both low and high, are inevitable. Chances are good that tax rates and structures will soon change. Will this be good for your current situation? Will you pay more, or less? Will you be a part of the population paying for the benefit of others, or will you be the beneficiary? Obviously, this depends on many factors. It doesn’t seem prudent to generalize widely about this. Every situation will end up being different.

It might not be a good idea to wait for a loan modification. They are available now. Call the Feldman Law Center today. We specialize in loan modifications and are ready to assist you today.

Visit us at feldmanlawcenter.com or call 800-588-0425.

You need to plan your trip well in advance and also book in a good hotel in Europe ensuring your pleasant stay there. Here are a few tips for you to have a memorable holiday in Europe.

One of the most popular sites to look for a good hotel in Europe is Leonardo hotels which have hotels all over the continent. The Leonardo group is opening hotels in Europe in all attractive locations like Munich, Berlin and Tel Aviv very soon. The Leonardo is the European Division of Fattal Hotels founded in 1998 by David Fattal.  You will be able to find a Leonardo hotel in Europe, in most of the places. 

HOTEL IN BELGIUM: For example, if you plan to visit Brussels, you don’t have to look for a hotel in Europe which will serve your purpose. Rather you will find a Leonardo Hotel in Antwerp. The Hotel Florida, which is managed by Leonardo Group, offers transportation from the airport to the hotel. You will be able to book in TGV Travels which travels from Amsterdam to Paris which stops in front of the hotel and visit many of the famous places in Antwerp which are quite close-by to the hotel. You will be assured of a high level of care irrespective of the duration of your holidaying and you will surely enjoy your stay here, one of the best hotels in Europe.

When you visit Brugus, you can book at Leonardo Hotel Brugus, Belgium which is only a few kilometers from the city. You will get all the comfort at a reasonable charge with good accommodation, internet access, and food and drinks which suit your palate. Name it, and you have all the luxury in this hotel at an affordable cost. The proximity of the hotel to the city is not common among the hotels in Europe and from here you will be able to enjoy the discovery tours to the city’s alleys, canals, architecture, and other natural treasures. You will really feel at home in this hotel than in any other hotel in Europe and you will vouchsafe for this! Similar is the case with other places in Belgium like Charleroi, Namur, or Wavre where you can book in a Leonardo Hotel and enjoy your visit to the fullest.

HOTELS IN GERMANY: If your plan is to visit Germany, and in particular Munich, yes, you will find Leonardo Hotel and Residence Munich, which is very close to the city and situated in the south east of Munich city center. If you are interested in going for fairs, this is the ideal place for you as you can reach the fair grounds in just 10-12 minutes. You have yet another hotel, Leonardo Hotel Munich City West, which is designed to make your stay absolutely comfortable with a view over the Alps. You also have the options of booking in Leonardo Hotel Munich City Centre which assures you of a quiet and tranquil stay and also Savoy Hotel Munich which is yet another hotel in Europe run by the Leonardo Group to make you enjoy the holidays.

Your holiday in Berlin is a really enjoyable one if you book your accommodation in Leonardo Airport Hotel Berlin Schoenefeld. The hotel is very close to the city and airport with comfy rooms which will make you feel homely during your stay here. Best Western Leonardo Hotel Berlin and Leonardo Royal Hotel Berlin are the other hotels which could be in your list to choose from when you stay in Berlin. Leonardo Royal Hotel Berlin is situated close to Alexanderplatz with excellent transportation and provides you easy access to the city sights. You won’t be able to enjoy in any other hotel in Europe as you do here.

When you land in Frankfurt, your choice could be Leonardo Hotel Frankfurt City which is in the central of the city, unlike any other major hotel in Europe and enables you to visit shopping centers and other places. Yet another choice could be Leonardo Hotel Frankfurt Airport which is very close to the airport and central railway station with transportation between the hotel and airport. The trade fair site is very close to the hotel which makes your visit easier.

HOTEL IN ISRAEL: Your visit to Israel can be made memorable by checking into Leonardo Boutique Tel Aviv which is to be opened in Winter of 2008. The hotel is planned in such a way that it faces the entire city. The hotel is designed with all comfort and luxury that are ideally combined and you would want to prefer this hotel to any other hotel in Europe once you have enjoyed your stay here.

SWITZERLAND: The heaven on earth! Your stay should not be marred by hotel accommodation. The role of Leonardo hotels in Switzerland is unique. Your choice could be Leonardo Hotel Rigihof Zurich with the right ambience you would love to have and the comfort which you may not find in any hotel in Europe to make your stay perfect.

When the phone is ringing every day and the bank is threatening to foreclose your home, because you are behind on payments, it is easy to believe that the banker is drooling over the possibility of foreclosing on your home. But you should know that the bank stands to lose a lot of money if they are forced to foreclose on your home. Read this article to learn the real truth about banks and foreclosures.

With what I have learned about banks and foreclosure over the last couple years, the information that I am about to share with you now, could have helped a few of my friends avoid losing their homes. Because I could not help them in their time of need, it is my hope that I could help you now, in your time of need.

I know that my initial suggestion that “banks do not want to foreclose on your home” may seem far-fetched to you now, but by the time you have read this article in full, you will recognize that you have more power over the bank than the bank would care to admit to you.

The Truth Is In The Numbers

Let us suppose for the sake of this story that you paid $100,000 for your home. And let us suppose that you put a full 20% down on that home five years ago. In this scenario, your bank loaned you $80,000 to help you purchase your home, and at best, you have probably paid $10,000 towards the principle of your home loan.

In the past year, you suddenly found your finances stretched for one reason or another. Perhaps you changed jobs, or your business contracted with the economy. Perhaps you had a financial emergency that required a lot of cash to solve, and now you find yourself struggling to catch up on the rest of your bills.

In the end, it really does not matter the reason for your current financial crisis. It will have little bearing on the outcome of this story.

This is where most people make a mistake in their understanding of the banks’ motives in threatening foreclosure. The bank is not threatening foreclosure because they want your house. The bank is threatening foreclosure, because they want to spur you to action, to fix your current financial crisis.

I know you are thinking that the bank will sell your home for its full retail value, but they won’t, because they cannot afford to hold onto your house for a long period of time. In order to sell a home for full retail price, the bank would need to commit to holding the home, perhaps for years, until that perfect buyer arrives to buy it.

If you force your bank to foreclose your home, your bank will put your house up for auction at a sheriff’s sale. PAY ATTENTION… this is important. When your bank puts your house up for auction, they will generally only get 35 to 40 cents on the dollar for your home.

The bank is currently out 70 cents on the dollar against the retail value of your home, but if forced to auction, the best the bank can expect to get out of your home is half what the bank has invested into your home!

In the scenario I have outlined here, you owe $70,000 on a $100,000 home. But if you force the bank to foreclose your home, the best the bank can hope to achieve is to get $35 to $40,000 for your home at auction. Do the math. If your bank forecloses your home, your bank will lose between $30 and $35,000, when they sell your home. Ouch!

This is the key information that you will use to stop the foreclosure of your home. As you can now recognize, your bank needs you to stay in your home, more than they desire to foreclose on your home.

Leverage

As should now be obvious, you as the homeowner have a lot of leverage over your bank. And if you play your cards just right, you will not have to lose your home.

If you find yourself behind on payments and you are looking for a way to save your home from foreclosure, you need to speak to a company like National Foreclosure Counseling Services (http://nfcscorp.com/). NFCS is a company, which can help you negotiate a repayment plan or loan modification on your behalf.

When NFCS contacts your bank on your behalf, your bank knows that you are interested in taking whatever steps are necessary to get back on the straight and narrow with them. When banks realize that you are serious about staying in your home, they have to weigh the options of negotiating a loan modification or losing an average of $30,000 when they foreclose your home.

If the bank has someone in a home that wants to stay in the home, then the bank stands a chance of retaining some of their profits on their original loan, if they are willing to renegotiate the terms of that loan. However, if the bank is forced to foreclose on the property, then chances are good that the bank will lose a lot of money.

Think about it. Your bank does not want to foreclose your home. It is in the best interests of your bank to keep you in your home, period.

National Foreclosure Counseling Services (http://nfcscorp.com/) has a proven track record (with documentation) of helping families such as yours renegotiate with their banks to help them to stay in their homes. In just the last 90 days, NFCS has helped 600 families renegotiate with their banks to avoid foreclosure.

The Most Important Step In This Process

You have the power to save your home from foreclosure, if you simply decide that you want to exercise your power of self-determination.

Who knows? You may have decided that you don’t want to try to hang on to your home for whatever reason. So long as you understand that a foreclosure will hurt your credit for at least ten years, perhaps preventing you from being able to buy another home, then by all means, it is your choice to accept foreclosure or not.

The current real estate crisis will not last forever, and housing prices will rebound eventually. Even if you see yourself upside-down in your home now, you may just find that if you hang on to your home another five or ten years, then housing prices will bounce back and you will survive the current real estate crisis without great financial loss.

But if you are like most people, you probably cannot bear the thought of losing your home and the equity you have so far built up in your home. If you desire to hang on to your home, then you alone must take that first step towards saving your home from foreclosure, then you should make it a point to get in touch with the folks at National Foreclosure Counseling Services, as shown below.

Author’s Note: This article was originally posted at: http://cash-advance-payday-loans.org/blog/banks-do-not-want-to-foreclose/2009/01/