Ark Law Group Blog
Short Sale, Loan Modification & Foreclosure Solutions
Facing Foreclosure? Get Help From the Ark Mortgage Assistance Program
By Ark Law Group

Ark's Mortgage Assistance Program (AMAP might be able to help you!When we launched the Ark Mortgage Assistance Program (AMAP), I really didn’t know how effective it would be. It feels great to know that we’ve helped so many people meet important goals.

What Should You Look for When Approved for a Mortgage Modification?
By Ark Law Group

Things to look for on your final loan modification documentsCongratulations to you if you have received approval on a loan modification!

Unemployment Forebearance - What Is It? How Do You Qualify?
By Ark Law Group

Keeping your home during unemploymentWhen you sign up for your mortgage, you never think what would happen if you lost your job. But things like this do happen, and it can be nerve-wracking. Don’t add to your stress. Talk to your mortgage lender right away about unemployment forbearance.

Reverse Mortgages Can Go Bad So You Have To Be Informed
By Ark Law Group

Sometimes reverse mortgages go bad - make sure you're informed.A reverse mortgage can be a great financial tool for people who have built equity in their home. According to the U.S. Department of Housing and Urban Development (HUD), a reverse mortgage “can give older Americans greater financial security. Many seniors use it to supplement Social Security, meet unexpected medical expenses, make home improvements and more.”

Should You Claim Bad Faith on Your Mortgage Lender?
By Ark Law Group

Should you claim bad faith?I have handled many, many negotiations with mortgage lenders—and, I confess, sometimes it feels like lenders go out of their way to make the process difficult. But I know it’s rarely intentional.

Why a Mortgage Loan Modification Can Seem So Complicated
By Ark Law Group

Loan modifications can often seem complicated and confusing.When your mortgage provider seems to be stalling on a loan modification, sometimes you just have to ask the right question. But knowing the right question to ask is rarely obvious.

How to Move Fast on a Mortgage Loan Modification
By Ark Law Group

Find out how to move fast with your loan modificationI can’t emphasize enough how important it is to know your goals when you decide you want a loan modification from your mortgage lender. Goals are one of the first things I talk about with anyone who calls Ark Law Group to discuss Ark’s Mortgage Assistance Program (AMAP).

While Qualifying Under Two Types of Hardship, This Couple’s Home Still Came Within One Week of a Trustee’s Sale and Foreclosure
By Ark Law Group

Lenders consider five types of hardship to be valid when they are asked to approve a short sale:

  • Curtailment of income – such as unemployment or loss of a business
  • Divorce (or abandonment)
  • Illness that leads to insupportable medical bills
  • Death of one of the borrowers
  • Excessive expenses (obviously, this is the least persuasive reason – but it may sometimes be used)
How to Speed-up Processing During an FHA Short Sale
By Ark Law Group

How to Speed-up Processing During an FHA Short SaleUnlike other investors, Federal Housing Administration (FHA) has a two-tiered approval process. First, the lender reviews and declines the borrower for home retention options and approves them for participation in a short sale. Second, the lender reviews the offer in line with their appraisal for final approval.

Underwater Homeowner Avoids Foreclosure on Her Renton, WA Condo - Bank of America Forgives $46,000 in Mortgage Debt!
By Ark Law Group

How to Avoid a Short SaleAfter moving out to care for her ailing grandmother, Susan, a full-time student, could no longer afford the mortgage payments on her Renton, WA, condo.

Short Sale Approved in Just One Month - Homeowners Have $198,000 of Mortgage Debt Written Off by Wells Fargo!
By Ark Law Group

Short Sale Approved in Just One MonthMurray and Dell had planned to live in their home forever. But in 2007 when the financial crisis wreaked havoc on Murray’s business, they could no longer afford their mortgage payments. The value of their home had fallen too, so selling it was not a viable option.

HAFA Short Sale Success - Debt Forgiven and Cash Back to Homeowner
By Ark Law Group

Over $21,000 of Mortgage Debt ForgivenIn 2007, Trevor and Eloise purchased a luxury home in Kirkland, WA. When home prices crashed, and their incomes dropped as well, they could no longer afford their expensive mortgage. 

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