Ark Law Group Blog
Short Sale, Loan Modification & Foreclosure Solutions
Can't Make Your Mortgage Payment - Options Other Than Foreclosure
By Ark Law Group

Assumption of a loan vs. transfer of titleWhen you struggle to make your house payment, you may wonder if the easiest thing would be to just give your mortgage to someone else.

What You Should Know Before Going Into Mortgage Mediation
By Ark Law Group

Things to know about mediation and foreclosureIf your bank has begun foreclosure proceedings against you, you need to know that you have the right to meet with your lender in the presence of a mediator. Mediation is a critical tool for getting fair treatment from your lender.

Facing Foreclosure? Here's One Way to Get Paid to Move
By Ark Law Group

Cash for Keys and Relocation IncentivesYou may have heard of something called “cash for keys” while going through foreclosure. Sometimes a mortgage lender will offer you money to sign over your home before going through the whole foreclosure process.

Top 5 Reasons Loan Modifications Get Denied
By Ark Law Group

Reasons for a denied loan modificationWhen you are having a financial hardship—you may have been laid off, you ran into unexpected expenses, you got sick and racked up medical bills, etc.—you might be able to get relief by requesting a loan modification from your mortgage lender.

2 Reasons Lenders Make High Short Sale Counter Offers, How to Dispute Them
By Ark Law Group

If you submit a short sale offer to a mortgage lender that you know is reasonable, it can be discouraging to get a high counter offer back. Don’t give up! Amanda and Mary Beth will tell you what to do in this brief video on value disputes.

How to Talk to Your Lender During Your Loan Modification Application Process
By Ark Law Group

How to conduct a lender phone callWe always remind people who want to get their mortgage payments lowered that each lender has their own set of rules and qualifications for loan modification. It’s also true that all lenders seem to have their own terminology. And sometimes the words they use appear to mean one thing, when they actually mean something else.

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!

What Happens When Your Short Sale Seller Has an FHA Loan
By Ark Law Group

How will an FHA loan impact a short sale?You may be aware that the FHA has some strict guidelines lenders must follow before approving a short sale. The government’s processes will certainly have an impact on the timeline of your short sale. In this post, we let real estate agents know what to expect from an FHA-backed short sale.

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.

How to Get Multiple Offers on a Short Sale Listing
By Ark Law Group

What to do with multiple short sale offersYou may not feel like you have many options when you’re selling a home short. If you can’t get the full value of the home, you’re dependent on getting the approval of the lender. You don’t seem to have much control.

How to Make Sure Your Mortgage Loan Modification Becomes Permanent
By Ark Law Group

What are loan mod trial plans?It’s been great to see so many of our Ark Mortgage Assistance Program (AMAP) clients have recently been approved for loan modifications. Programs like HAMP that help homeowners get their mortgage payments reduced to below 30% of their income are really life-changing.

Is Nationstar Putting Your Short Sale Property Through an Auction?
By Ark Law Group

What You Need To Know If Nationstar Is Putting Your Short Sale Property Through An AuctionWe recently walked through the three phases of review lenders use to decide whether to approve a short sale offer: processing, valuation and negotiation. Some lenders, like Nationstar and Ocwen, may add an auction to their review. So even if you have found a buyer for the property, the lender can—and often does—put the home up for auction online on Nationstar’s website, Homesearch.com.

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