Mortgage foreclosure relief available for distressed homeowners

I recently reported on important relief available to homeowners facing foreclosure, paying more than their house is worth or those who have been foreclosed upon and lost their home.

As crucial deadlines are fast approaching, I am providing an updated summary of assistance available for struggling homeowners and other victims of unfair lending practices — and what you need to do to access it.

Remember, these programs matter but unless you take advantage of them, help is not available. A proactive approach is required.

Thousands of Floridians qualify for help. Below is a list of settlements and reviews that were created to help struggling borrowers. In some cases, application deadlines are coming up. If you miss the deadline, you will not qualify for relief.

Independent Foreclosure Review vs. National Mortgage Settlement:

If you believe your home mortgage foreclosure was conducted unfairly or mistakes were made, relief is available in several forms:

Independent Foreclosure Review

In April 2011, the Federal Reserve Board and the Office of the Comptroller of the Currency took action against over 20 large mortgage servicers. If your primary home was involved in a foreclosure between January 1, 2009 and December 31, 2010, you may qualify for a free independent foreclosure review.

Independent fact-checkers will determine whether you were harmed by mortgage foreclosure errors or other problems and should be paid to make up for that harm. Borrowers seeking a review must apply by December 31, 2012.

Help with the form and answers to questions about the process are available on the Independent Foreclosure Review website or by calling 888-952-9105.

The following mortgage servicers are participating in the Independent Foreclosure Review process:

• America’s Servicing Company
• Aurora Loan Services
• BAC Home Loans Servicing
• Bank of America
• Beneficial
• Chase
• Citibank
• CitiFinancial
• CitiMortgage
• Countrywide
• EMC
• EverBank/EverHome Mortgage Company
• Financial Freedom
• GMAC Mortgage
• HFC
• HSBC
• IndyMac Mortgage Services
• MetLife Bank
• National City Mortgage
• PNC Mortgage
• Sovereign Bank
• SunTrust Mortgage
• U.S. Bank
• Wachovia
• Washington Mutual
• Wells Fargo
• Wilshire Credit Corporation

“Homeowners who believe they were wrongfully injured by a foreclosure error in 2009 and 2010, should request a review,” stated Bryan Hubbard, an Office of the Comptroller of the Currency spokesman. “They give up no rights by requesting a review.”

In effort to assist with the application process, the Federal Reserve has put together a short “Independent Foreclosure Review PSA” video. The video provides program details in English and in Spanish.

For in-depth information on how to spread the word to your local area, please visit the community partner toolkit.

National Mortgage Settlement

Last February, the U.S. Department of Justice and 49 state attorneys general announced a $25 billion settlement with five major banks over so-called “robo-signing,” in which foreclosure documents were signed without properly verifying their accuracy.

While not a perfect deal, the settlement offers meaningful relief for some homeowners in the form of principal or interest reductions, in addition to other relief.

The National Mortgage Settlement administrator recently mailed Notice Letters and Claim Forms to those borrowers who lost their home due to foreclosure between January 1, 2008 and December 31, 2011 whose loans were serviced by one of the five servicers: Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo.

Impacted homeowners can now submit their claim form online. The deadline to file is January 18, 2013.

If you think you may be eligible, you can contact your bank directly for additional information:

Ally/GMAC: 800-766-4622

Bank of America: 877-488-7814 (Available M-F 7 a.m. – 9 p.m. and Saturdays 8 a.m. – 5 p.m. Central Time.)

Citi: 866-272-4749

JPMorgan Chase: 866-372-6901

Wells Fargo: 800-288-3212 (Available M-F 7 a.m. – 7 p.m. Central Time)

For more information, please visit the National Mortgage Settlement website or call them at 888-995-HOPE (4673).

To learn whether your loan is owned by either Fannie Mae or Freddie Mac, visit their website and complete the convenient online form for an instant determination.

“Whether it be through the Independent Foreclosure Review or the National Foreclosure Settlement, homeowners faced with a foreclosure should take advantage of this review,” stated Fort Lauderdale foreclosure defense attorney Carlos Reyes. “The process is free and totally without fee. Don’t let someone charge you for completing an application that you can complete yourself online in less than 30 minutes.”

Political talk and morning drive on AM 740 WSBR

 

 

As Christmas is approaching and Bill Lewis prepares to announce his New Years resolutions for 2013, interesting guests and timely topics will be on AM 740 WSBR and AM 1470 WWNN the weekend of December 17th and The Credit Report with Bill Lewis.

As a daily forum for business and financial news, politics, economic trends, and cutting edge issues, The Credit Report with Bill Lewis can be found on AM 740 WSBR in south Florida. Hosted by Bill Lewis, the show broadcasts live weekdays at 7am.

Originally launched on AM 1400 WFTL in 2004, as the “Credit Restoration Consultants Hour,” Bill Lewis provided self-help tips and advice regarding credit repair, finances, and related topics. Throughout the years, Bill’s show strayed from the original concept of providing financial awareness to his listeners.

In an effort to strengthen his listener base and to broaden the topics hosted, Bill launched The Credit Report with Bill Lewis upon moving to AM 1470 WWNN within the Beasley Broadcasting group.

Listeners were searching for help regarding a myriad of topics from credit repair, extreme coupon shopping, and foreclosure matters, but welcomed the political format that Bill introduced locally to a south Florida audience.

Since the show’s inception, Bill Lewis has interviewed some of the country’s leading politicians, including: Rudy Giuliani, John McCain, Herman Cain, Chris Christie, Jon Huntsman, Allen West, Rick Scott, George LeMieux, Jeff Atwater, Pam Bondi, Marco Rubio, Sharon Day, Alex Sink, Adam Putnam, Charlie Crist, Bill McCollum, Jeff Kottkamp, Jennifer Carroll, Christine O’Donnell, among others.

In addition, The Credit Report with Bill Lewis has hosted a number of politicians as well as attorneys and financial experts in the south Florida area. Among the dozens that have appeared on the show are Carlos Reyes, Al Lamberti, Chip LaMarca, Adam Hasner, Ellyn Bogdanoff, Tom Rooney, Roger Stone, Bob Davids, Lori Parrish, Richard Denapoli, Rico Petrocelli, Jamie McDonnell, Jim Lewis, Tom Lauder, and John Contini.

The Credit Report with Bill Lewis airs live, Monday through Friday from 7am-8am Eastern Time with an encore presentation Saturday’s at 3pm on AM 740 WSBR. Streaming audio is available at http://www.wsbrradio.com and on air participation is welcome at (888) 721-0074.

If you miss the early broadcast, The Credit Report with Bill Lewis is still available weeknights at 9pm Eastern Time, Saturday’s at 6pm and Sunday’s at 8pm on AM 1470 WWNN by streaming audio at www.wwnnradio.com.

Going head-to-head against Steve Kane and Jimmy Cefalo, Bill Lewis promises more “talk” and fewer commercials.

For daily updates on The Credit Report with Bill Lewis, you can join Bill’s 21,950 plus fans on Facebook at: http://www.facebook.com/thecreditreportwithbilllewis.

The week of July 30th on The Credit Report with Bill Lewis

Interesting guests and timely topics will be on AM 740 WSBR and AM 1470 WWNN the week of July 30th and The Credit Report with Bill Lewis.

As a daily forum for business and financial news, politics, economic trends, and cutting edge issues, The Credit Report with Bill Lewis moved south on the dial late last year to AM 740 WSBR.  Hosted by Bill Lewis, the show broadcasts live weekdays at 7am.

Originally launched on AM 1400 WFTL in 2004, as the “Credit Restoration Consultants Hour,” Bill Lewis provided self-help tips and advice regarding credit repair, finances, and related topics. Throughout the years, Bill’s show strayed from the original concept of providing financial awareness to his listeners.

In an effort to strengthen his listener base and to broaden the topics hosted, Bill launched The Credit Report with Bill Lewis upon moving to AM 1470 WWNN within the Beasley Broadcasting group.

Listeners were searching for help regarding a myriad of topics from credit repair, extreme coupon shopping, and foreclosure matters, but welcomed the political format that Bill introduced locally to a south Florida audience.

Guests this weekend on The Credit Report with Bill Lewis:

Former presidential appointee and elections attorney Gineen Bresso will appear and discuss her political plans and aspirations.  As a former Commissioner and Chair of the U.S. Election Assistance Commission, Bresso is an announced candidate to replace Democratic Congresswoman Debbie Wasserman Schultz in Florida’s Congressional District 23.

Former House majority leader and current Congressional District 22 candidate Adam Hasner will appear and discuss his campaign and endorsements from Florida Senator Marco Rubio and former Governor Jeb Bush.  Hasner has succeeded where Republican presidential and senate hopefuls have failed.  No other candidate for public office has been able to obtain endorsements from Rubio and Bush, the two most influential names in Florida GOP politics.

Julie C. Shapiro Harris will appear and discuss her candidacy for the Broward County Circuit Court in Group 19.  Restricted by the judicial canons, candidates for judicial office are prohibited from discussing topics surrounding potential legal issues.  Shapiro-Harris will discuss her resume and credentials as well as her recent endorsements.

Retired Palm Beach County Sheriff’s Captain Mark Chamberlain will appear and discuss his candidacy for Hendry County Sheriff.  As the favored Republican candidate in the August 14^th primary, Chamberlain will discuss his vision of making the Hendry County Sheriff’s Office the finest rural Sheriff’s office in Florida and one that all Hendry County citizens and visitors can rely upon and be proud.

Chairman Richard DeNapoli of the Broward Republican Party will appear and discuss initiatives to expand the local party as well as candidate awareness through social media outlets like Facebook, Twitter, and YouTube.  Through hard work and effort, DeNapoli has achieved 26k “Likes” on the Republican Party of Broward Facebook page.

Jim Gleason will appear and discuss his candidacy for the Florida House of Representatives in District 97.  Running in an open seat, Gleason will discuss his resume and credentials and explain why he is the best candidate to represent parts of Coral Springs, Tamarac, Sunrise, Plantation, and Parkland in Tallahassee.

Stanley Blumenthal – an eccentric 87 year-old retired Merchant Marine – will appear and discuss his candidacy for the U.S. House of Representatives in Florida’s Congressional District 25.  Running as an NPA, Blumenthal promises to “shake-up” the political establishment as a “Socialist” or “American Patriotic Communist.”  In a race that boasts the “VoteForEddie.com” domain name as a candidate, Elect Comrade Blumenthal is the motto of this campaign. 

Tom Lauder of Red Broward will appear and discuss his political blog where “Making Broward See Red” is not such a hard job. Connecting Broward Republicans, Conservatives and Independents, Red Broward is not your average campaign group.

Former prosecutor and Fort Lauderdale criminal defense attorney Jim Lewis will appear and discuss his candidacy for Broward State Attorney as the only Republican for this countywide office in 2012. Lewis is challenging incumbent Michael Satz and Chris Mancini, a former federal prosecutor turned defense attorney. Mancini switched his voter registration from independent to Democrat so he could run against Satz in the party’s primary. Lewis will face the winner of the August primary.

Foreclosure defense attorney Carlos Reyes will appear and discuss the latest developments in the mortgage foreclosure crisis. After nearly a year of negotiations, federal and state officials and five major mortgage servicers (Ally Financial, Bank of America, JP Morgan Chase, Citibank, and Wells Fargo) recently announced a $25 billion settlement over alleged foreclosure and mortgage loan-servicing abuses.

Brian Walsh of Wings Plus in Coral Springs will appear and discuss recent appearances by presidential candidates Herman Cain, Rick Santorum, and Newt Gingrich and how his establishment has become the place “where the politically elite meet” in south Florida. Brian will also provide details about the next Facebook party to be held at “The Cafe Versailles of Broward” on August 6th.

Republican Party of Broward County Executive Director Rico Petrocelli will appear and discuss initiatives to grow the local party in anticipation of a Mitt Romney presidency. 

Since the show’s inception, Bill Lewis has interviewed some of the country’s leading politicians, including: Rudy Giuliani, John McCain, Herman Cain, Chris Christie, Jon Huntsman, Allen West, Rick Scott, George LeMieux, Jeff Atwater, Pam Bondi, Marco Rubio, Sharon Day, Alex Sink, Adam Putnam, Charlie Crist, Bill McCollum, Jeff Kottkamp, Jennifer Carroll, Christine O’Donnell, among others.

In addition, The Credit Report with Bill Lewis has hosted a number of politicians as well as attorneys and financial experts in the south Florida area. Among the dozens that have appeared on the show are Carlos Reyes, Al Lamberti, Chip LaMarca, Adam Hasner, Ellyn Bogdanoff, Tom Rooney, Roger Stone, Bob Davids, Lori Parrish, Richard Denapoli, Rico Petrocelli, Jamie McDonnell, Jim Lewis, Tom Lauder, and John Contini.

The Credit Report with Bill Lewis airs live, Monday through Friday from 7am-8am with an encore presentation Saturday’s at 3pm on AM 740 WSBR. Streaming audio is available at http://www.wsbrradio.com and on air participation is welcome at (888) 721-0074.

If you miss the early broadcast, The Credit Report with Bill Lewis is still available weeknights at 9pm and Sunday’s at 12 noon on AM 1470 WWNN by streaming audio at http://www.wwnnradio.com.

Going head-to-head against Steve Kane and Jimmy Cefalo, Bill Lewis promises more “talk” and fewer commercials.

For daily updates on The Credit Report with Bill Lewis, you can join Bill’s 35,950 plus fans on Facebook at: http://www.facebook.com/thecreditreportwithbilllewis.

The weekend of July 13th on The Credit Report with Bill Lewis

 

Interesting guests and timely topics will be on AM 740 WSBR and AM 1470 WWNN the weekend of July 13th and The Credit Report with Bill Lewis.

As a daily forum for business and financial news, politics, economic trends, and cutting edge issues, The Credit Report with Bill Lewis moved south on the dial late last year to AM 740 WSBR.  Hosted by Bill Lewis, the show broadcasts live weekdays at 7am.

Originally launched on AM 1400 WFTL in 2004, as the “Credit Restoration Consultants Hour,” Bill Lewis provided self-help tips and advice regarding credit repair, finances, and related topics. Throughout the years, Bill’s show strayed from the original concept of providing financial awareness to his listeners.

In an effort to strengthen his listener base and to broaden the topics hosted, Bill launched The Credit Report with Bill Lewis upon moving to AM 1470 WWNN within the Beasley Broadcasting group.

Listeners were searching for help regarding a myriad of topics from credit repair, extreme coupon shopping, and foreclosure matters, but welcomed the political format that Bill introduced locally to a south Florida audience.

Guests this weekend on The Credit Report with Bill Lewis:

Former House majority leader and current Congressional District 22 candidate Adam Hasner will appear and discuss his campaign and endorsements from Florida Senator Marco Rubio and former Governor Jeb Bush.  Hasner has succeeded where Republican presidential and senate hopefuls have failed.  No other candidate for public office has been able to obtain endorsements from Rubio and Bush, the two most influential names in Florida GOP politics.

Julie C. Shapiro Harris will appear and discuss her candidacy for the Broward County Circuit Court in Group 19.  Restricted by the judicial canons, candidates for judicial office are prohibited from discussing topics surrounding potential legal issues.  Shapiro-Harris will discuss her resume and credentials as well as her recent endorsement by popular community activist Essie “Big Mama” Reed.

Chairman Richard DeNapoli of the Broward Republican Party will appear and discuss initiatives to expand the local party as well as candidate awareness through social media outlets like Facebook, Twitter, and YouTube.  Through hard work and effort, DeNapoli has achieved 26k “Likes” on the Republican Party of Broward Facebook page.

Former presidential appointee and elections attorney Gineen Bresso will appear and discuss her political plans and aspirations.  As a former Commissioner and Chair of the U.S. Election Assistance Commission, Bresso is an announced candidate to replace Democratic Congresswoman Debbie Wasserman Schultz in Florida’s Congressional District 23.

Jim Gleason will appear and discuss his candidacy for the Florida House of Representatives in District 97.  Running in an open seat, Gleason will discuss his resume and credentials and explain why he is the best candidate to represent parts of Coral Springs, Tamarac, Sunrise, Plantation, and Parkland in Tallahassee.

Stanley Blumenthal – an eccentric 87 year-old retired Merchant Marine – will appear and discuss his candidacy for the U.S. House of Representatives in Florida’s Congressional District 25.  Running as an NPA, Blumenthal promises to “shake-up” the political establishment as a “Socialist” or “American Patriotic Communist.”  In a race that boasts the “VoteForEddie.com” domain name as a candidate, Elect Comrade Blumenthal is the motto of this campaign. 

Tom Lauder of Red Broward will appear and discuss his political blog where “Making Broward See Red” is not such a hard job.

Former prosecutor and Fort Lauderdale criminal defense attorney Jim Lewis will appear and discuss his candidacy for Broward State Attorney as the only Republican for this countywide office in 2012. Lewis is challenging incumbent Michael Satz and Chris Mancini, a former federal prosecutor turned defense attorney. Mancini switched his voter registration from independent to Democrat so he could run against Satz in the party’s primary. Lewis will face the winner of the August primary.

Foreclosure defense attorney Carlos Reyes will appear and discuss the latest developments in the mortgage foreclosure crisis. After nearly a year of negotiations, federal and state officials and five major mortgage servicers (Ally Financial, Bank of America, JP Morgan Chase, Citibank, and Wells Fargo) recently announced a $25 billion settlement over alleged foreclosure and mortgage loan-servicing abuses.

Brian Walsh of Wings Plus in Coral Springs will appear and discuss recent appearances by presidential candidates Herman Cain, Rick Santorum, and Newt Gingrich and how his establishment has become the place “where the politically elite meet” in south Florida. Brian will also provide details about the next Facebook party to be held at “The Cafe Versailles of Broward” on August 8th.

Republican Party of Broward County Executive Director Rico Petrocelli will appear and discuss initiatives to grow the local party and upcoming events.

Since the show’s inception, Bill Lewis has interviewed some of the country’s leading politicians, including: Rudy Giuliani, John McCain, Herman Cain, Chris Christie, Jon Huntsman, Allen West, Rick Scott, George LeMieux, Jeff Atwater, Pam Bondi, Marco Rubio, Sharon Day, Alex Sink, Adam Putnam, Charlie Crist, Bill McCollum, Jeff Kottkamp, Jennifer Carroll, Christine O’Donnell, among others.

In addition, The Credit Report with Bill Lewis has hosted a number of politicians as well as attorneys and financial experts in the south Florida area. Among the dozens that have appeared on the show are Carlos Reyes, Al Lamberti, Chip LaMarca, Adam Hasner, Ellyn Bogdanoff, Tom Rooney, Roger Stone, Bob Davids, Lori Parrish, Richard Denapoli, Rico Petrocelli, Jamie McDonnell, Jim Lewis, Tom Lauder, and John Contini.

The Credit Report with Bill Lewis airs live, Monday through Friday from 7am-8am with an encore presentation Saturday’s at 3pm on AM 740 WSBR. Streaming audio is available at http://www.wsbrradio.com and on air participation is welcome at (888) 721-0074.

If you miss the early broadcast, The Credit Report with Bill Lewis is still available weeknights at 9pm and Sunday’s at 12 noon on AM 1470 WWNN by streaming audio at http://www.wwnnradio.com.

Going head-to-head against Steve Kane and Jimmy Cefalo, Bill Lewis promises more “talk” and fewer commercials.

For daily updates on The Credit Report with Bill Lewis, you can join Bill’s 35,950 plus fans on Facebook at: http://www.facebook.com/thecreditreportwithbilllewis.

The week of July 9th on AM 740 WSBR and The Credit Report with Bill Lewis

Interesting guests and timely topics will be on AM 740 WSBR and AM 1470 WWNN the week of July 9th and The Credit Report with Bill Lewis.

As a daily forum for business and financial news, politics, economic trends, and cutting edge issues, The Credit Report with Bill Lewis moved south on the dial late last year to AM 740 WSBR.  Hosted by Bill Lewis, the show broadcasts live weekdays at 7am.

Originally launched on AM 1400 WFTL in 2004, as the “Credit Restoration Consultants Hour,” Bill Lewis provided self-help tips and advice regarding credit repair, finances, and related topics. Throughout the years, Bill’s show strayed from the original concept of providing financial awareness to his listeners.

In an effort to strengthen his listener base and to broaden the topics hosted, Bill launched The Credit Report with Bill Lewis upon moving to AM 1470 WWNN within the Beasley Broadcasting group.

Listeners were searching for help regarding a myriad of topics from credit repair, extreme coupon shopping, and foreclosure matters, but welcomed the political format that Bill introduced locally to a south Florida audience.

Guests this week on The Credit Report with Bill Lewis:

Former House majority leader and current Congressional District 22 candidate Adam Hasner will appear and discuss his campaign and endorsements from Florida Senator Marco Rubio and former Governor Jeb Bush.  Hasner has succeeded where Republican presidential and senate hopefuls have failed.  No other candidate for public office has been able to obtain endorsements from Rubio and Bush, the two most influential names in Florida GOP politics.

Chairman Richard DeNapoli of the Broward Republican Party will appear and discuss initiatives to expand the local party as well as candidate awareness through social media outlets like Facebook, Twitter, and YouTube.  Through hard work and effort, DeNapoli has achieved 26k “Likes” on the Republican Party of Broward Facebook page.

Former presidential appointee and elections attorney Gineen Bresso will appear and discuss her political plans and aspirations.  As a former Commissioner and Chair of the U.S. Election Assistance Commission, Bresso is an announced candidate to replace Democratic Congresswoman Debbie Wasserman Schultz in Florida’s Congressional District 23.

Former prosecutor and Fort Lauderdale criminal defense attorney Jim Lewis will appear and discuss his candidacy for Broward State Attorney as the only Republican for this countywide office in 2012. Lewis is challenging incumbent Michael Satz and Chris Mancini, a former federal prosecutor turned defense attorney. Mancini switched his voter registration from independent to Democrat so he could run against Satz in the party’s primary. Lewis will face the winner of the August primary.

Foreclosure defense attorney Carlos Reyes will appear and discuss the latest developments in the mortgage foreclosure crisis. After nearly a year of negotiations, federal and state officials and five major mortgage servicers (Ally Financial, Bank of America, JP Morgan Chase, Citibank, and Wells Fargo) recently announced a $25 billion settlement over alleged foreclosure and mortgage loan-servicing abuses.

Jim Gleason will appear and discuss his candidacy for the Florida House of Representatives in District 97.  Running in an open seat, Gleason will discuss his resume and credentials and explain why he is the best candidate to represent parts of Coral Springs, Tamarac, Sunrise, Plantation, and Parkland in Tallahassee.

Julie C. Shapiro Harris will appear and discuss her candidacy for the Broward County Circuit Court in Group 19.  Restricted by the judicial canons, candidates for judicial office are prohibited from discussing topics surrounding potential legal issues.  Shapiro-Harris will discuss her resume and credentials as well as her recent endorsement by popular community activist Essie “Big Mama” Reed.

Fort Lauderdale philanthropist and serial entrepreneur Jamie McDonnell will appear and discuss his latest venture, daily deal site LuckyFan.  LuckyFan.com is a dynamic daily discount deal site unlike any other. LuckyFan offers spectacular deals and once in a lifetime experiences so you can live it up, and Get Lucky!

Stanley Blumenthal – an eccentric 87 year-old retired Merchant Marine – will appear and discuss his candidacy for the U.S. House of Representatives in Florida’s Congressional District 25.  Running as an NPA, Blumenthal promises to “shake-up” the political establishment as a “Socialist” or “American Patriotic Communist.”  In a race that boasts the “VoteForEddie.com” domain name as a candidate, Elect Comrade Blumenthal is the motto of this campaign. 

Tom Lauder of Red Broward will appear and discuss his political blog where “Making Broward See Red” is not such a hard job.

Brian Walsh of Wings Plus in Coral Springs will appear and discuss recent appearances by presidential candidates Herman Cain, Rick Santorum, and Newt Gingrich and how his establishment has become the place “where the politically elite meet” in south Florida. Brian will also provide details about the next Facebook party to be held at “The Cafe Versailles of Broward” on August 8th.

Republican Party of Broward County Executive Director Rico Petrocelli will appear and discuss initiatives to grow the local party and upcoming events.

Bill Burke of Paradise Bank will appear and discuss how his three branch bank reached a significant milestone in its six-year history by becoming the top Small Business Administration (SBA) community bank lender in the state of Florida.

Since the show’s inception, Bill Lewis has interviewed some of the country’s leading politicians, including: Rudy Giuliani, John McCain, Herman Cain, Chris Christie, Jon Huntsman, Allen West, Rick Scott, George LeMieux, Jeff Atwater, Pam Bondi, Marco Rubio, Sharon Day, Alex Sink, Adam Putnam, Charlie Crist, Bill McCollum, Jeff Kottkamp, Jennifer Carroll, Christine O’Donnell, among others.

In addition, The Credit Report with Bill Lewis has hosted a number of politicians as well as attorneys and financial experts in the south Florida area. Among the dozens that have appeared on the show are Carlos Reyes, Al Lamberti, Chip LaMarca, Adam Hasner, Ellyn Bogdanoff, Tom Rooney, Roger Stone, Bob Davids, Lori Parrish, Richard Denapoli, Rico Petrocelli, Jamie McDonnell, Jim Lewis, Tom Lauder, and John Contini.

The Credit Report with Bill Lewis airs live, Monday through Friday from 7am-8am with an encore presentation Saturday’s at 3pm on AM 740 WSBR. Streaming audio is available at http://www.wsbrradio.com and on air participation is welcome at (888) 721-0074.

If you miss the early broadcast, The Credit Report with Bill Lewis is still available weeknights at 9pm and Sunday’s at 12 noon on AM 1470 WWNN by streaming audio at http://www.wwnnradio.com.

Going head-to-head against Steve Kane and Jimmy Cefalo, Bill Lewis promises more “talk” and fewer commercials.

For daily updates on The Credit Report with Bill Lewis, you can join Bill’s 35,950 plus fans on Facebook at: http://www.facebook.com/thecreditreportwithbilllewis.

——————-
Bill Lewis is the principal of William E. Lewis Jr. & Associates and host of “The Credit Report with Bill Lewis” — a daily forum for business and financial news, politics, economic trends and issues on AM 740 WSBR in south Florida.

Time running out for a free mortgage foreclosure review

 

Were you involved in a mortgage foreclosure action in 2009 or 2010? If so, you may be eligible for relief through a widely ignored governmental program targeting homeowners that have lost the place they call home.

According to RealtyTrac, there were 26,412 Florida homes in some stage of foreclosure in May. That included 14,768 new filings, an 83 percent increase over last year.

Last year, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Office of Thrift Supervision announced enforcement action against 14 large residential mortgage servicers and two third-party vendors for unsafe and unsound practices related to residential mortgage servicing and foreclosure processing.

Among the sanctions received by mortgage servicers was an obligation to independently review problematic foreclosures. In an effort to reach as many Americans as possible, the government has extended the “Independent Foreclosure Review” program through September 30.

Homeowners who lost their home to foreclosure are not eligible to have it returned but may be eligible for a cash payment of up to $2,000. Affected homeowners may also be eligible to have most, if not all, of any deficiency balance waived.

There were more that 6.6 million foreclosures nationwide between Jan. 1, 2009, and Dec. 31, 2010, according to RealtyTrac. A consulting firm acting on this information and on behalf of federal bank regulators mailed almost 4.4 million letters to homeowners who may be eligible to have their foreclosures reviewed for mistakes.

Thousands of Floridians have been deemed eligible for an Independent Foreclosure Review, but have yet to make an application for relief under the program. 

The three-month extension provides not only the 14 sanctioned mortgage servicers who may have harmed homeowners more time to notify them of the federal enforcement action, but also the 13 additional mortgage servicers — who joined the program in an effort to identify impacted borrowers — an opportunity for independent foreclosure review as well.

So far, the response has been extremely disappointing.

As of May 31, the independent consultants have received 193,630 requests for review. The servicers themselves, through their own sampling, selected an additional 144,817 cases, for a total of 338,447.

Although the Office of the Comptroller of the Currency believes the number of applications will dramatically increase by the end of July, just 7.7 percent of the estimated 4.4 million homeowners believed eligible have applied for review.

“If a homeowner believes they were wrongfully injured by a foreclosure error in 2009 and 2010, they should request a review,” stated Bryan Hubbard, a spokesman for the OCC. “They give up no rights by requesting a review.”

To be eligible for relief, affected mortgages must have been for a homeowner’s primary residence and in active foreclosure between Jan. 1, 2009, and Dec. 31, 2010.

The following mortgage servicers are participating in the Independent Foreclosure Review process:

America’s Servicing Company , Aurora Loan Services, BAC Home Loans Servicing, Bank of America, Beneficial, Chase, Citibank, CitiFinancial, CitiMortgage, Countrywide, EMC, EverBank/EverHome Mortgage Company, Financial Freedom, GMAC Mortgage, HFC, HSBC, IndyMac Mortgage Services, MetLife Bank, National City Mortgage, PNC Mortgage, Sovereign Bank, SunTrust Mortgage, U.S. Bank, Wachovia, Washington Mutual, Wells Fargo and Wilshire Credit Corporation.

The Independent Foreclosure Review should not be confused with the $25 billion national mortgage settlement recently negotiated between most of the states’ attorneys general and the big five mortgage servicers: Bank of America, J.P. Morgan Chase, Citibank, Wells Fargo and Ally Financial (formerly GMAC). Every state in the nation but Oklahoma is participating.

According to the government-mandated oversight website IndependentForeclosureReview.com, some primary examples of mortgage servicer mistakes that may have resulted in financial injury are:

— The mortgage balance was overstated or miscalculated at the time of foreclosure

— Foreclosure proceedings were initiated despite the fact that the homeowner was in bankruptcy, waiting to hear about a request for mortgage modification or abiding by terms of a mortgage modification

— The foreclosure proceedings coincided with active military service.

The Independent Foreclosure Review process is free and can be completed online at www.independentforeclosurereview.com or through the mail. Applications must be processed by September 30 to be eligible for review.

Homeowners in need of assistance should call 888-952-9105. In an effort to assist with the application process, the Federal Reserve has put together a short “Independent Foreclosure Review PSA” video. The video provides program details in English and in Spanish.

Foreclosures nationwide rose to over 200,000 for the first time in two months.  Georgia has the highest rate of foreclosures in the country with one in every 300 housing units, followed by Arizona, Nevada, California, Illinois and Florida.

 “Homeowners faced with a foreclosure in 2009 or 2010 should take advantage of this review,” stated Fort Lauderdale foreclosure defense attorney Carlos Reyes. “The process is free and totally without fee. Don’t let someone charge you for completing an application you can complete online in less than 30 minutes.”

To review Bill Lewis’ entire consumer protection series, visit www.williamlewis.us.

William E. Lewis Jr. & Associates is a solutions based professional consulting firm specializing in the discriminating individual, business or governmental entity. To learn more, tune into “The Credit Report with Bill Lewis,” a daily forum for business and financial news, politics, economic trends, and cutting edge issues on AM 740 WSBR.

For daily updates on The Credit Report with Bill Lewis, you can join Bill’s 35,950 plus fans on Facebook at: www.facebook.com/thecreditreportwithbilllewis

The week of June 11th on AM 740 WSBR and The Credit Report with Bill Lewis

 

Interesting guests and timely topics will be on AM 740 WSBR and AM 1470 WWNN the week of June 11th and The Credit Report with Bill Lewis.

After more than seven years on the South Florida airwaves, Bill Lewis – host of The Credit Report with Bill Lewis – has left his 9 o’clock morning drive time show on AM 1470 WWNN.

The Credit Report with Bill Lewis, a daily forum for business and financial news, politics, economic trends, and cutting edge issues, a daily radio talk show hosted by Bill Lewis has moved south on the dial and now airs on AM 740 WSBR weekdays at 7am.

Originally launched on AM 1400 WFTL in 2004, as the “Credit Restoration Consultants Hour,” Bill Lewis provided self-help tips and advice regarding credit repair, finances, and related topics. Throughout the years, Bill’s show strayed from the original concept of providing financial awareness to his listeners.

In an effort to strengthen his listener base and to broaden the topics hosted, Bill launched The Credit Report with Bill Lewis upon moving to AM 1470 WWNN within the Beasley Broadcasting group.

Listeners were searching for help regarding a myriad of topics from credit repair, extreme coupon shopping, and foreclosure matters, but welcomed the political format that Bill introduced locally to a south Florida audience.

Guests this week on The Credit Report with Bill Lewis:

Former House majority leader and current Congressional District 22 candidate Adam Hasner will appear and discuss his recent endorsements from Florida Senator Marco Rubio and former Governor Jeb Bush.  Hasner has succeeded where Republican presidential and senate hopefuls have failed.  No other candidate for public office has been able to obtain endorsements from Rubio and Bush, the two most influential names in Florida GOP politics. 

Chairman Richard DeNapoli of the Broward Republican Party will appear and discuss initiatives to expand candidate awareness through social media outlets like Facebook, Twitter, and YouTube.

Former presidential appointee and elections attorney Gineen Bresso will appear and discuss her future political plans and aspirations.  As a former Commissioner and Chair of the U.S. Election Assistance Commission, Bresso is an announced candidate to replace Democratic Congresswoman Debbie Wasserman Schultz in Florida’s Congressional District 23. 

Former prosecutor and Fort Lauderdale criminal defense attorney Jim Lewis will appear and discuss his candidacy for Broward State Attorney as the only Republican for this countywide office in 2012. Lewis is challenging incumbent Michael Satz and Chris Mancini, a former federal prosecutor turned defense attorney. Mancini switched his voter registration from independent to Democrat so he could run against Satz in the party’s primary. Lewis will face the winner of the August primary.

Foreclosure defense attorney Carlos Reyes will appear and discuss the latest developments in the mortgage foreclosure crisis. After nearly a year of negotiations, federal and state officials and five major mortgage servicers (Ally Financial, Bank of America, JP Morgan Chase, Citibank, and Wells Fargo) recently announced a $25 billion settlement over alleged foreclosure and mortgage loan-servicing abuses.

Tom Lauder of Red Broward will appear and discuss his political blog where “Making Broward See Red” is not such a hard job.

Florida’s 34^th Senator and current U.S. Senate candidate George LeMieux will discuss his candidacy in the Republican race to replace Democratic Senator Bill Nelson.

Brian Walsh of Wings Plus in Coral Springs will appear and discuss recent appearances by presidential candidates Herman Cain, Rick Santorum, and Newt Gingrich and how his establishment has become the place “where the politically elite meet” in south Florida. Brian will also provide details about the wildly successful Facebook party held at “The Cafe Versailles of Broward.”

Republican Party of Broward County Executive Director Rico Petrocelli will appear and discuss initiatives to grow the local party and upcoming events.

Fort Lauderdale philanthropist and serial entrepreneur Jamie McDonnell will appear and discuss his latest venture, daily deal site LuckyFan.  LuckyFan.com is a dynamic daily discount deal site unlike any other. LuckyFan offers spectacular deals and once in a lifetime experiences so you can live it up, and Get Lucky!

Coral Springs Commissioner and mayoral candidate Vince Boccard will appear and discuss his decision to run for mayor of one of Money Magazine’s “100 Best Places to Live” across America – ranked first in the State of Florida and 44th on the overall list.

Bill Burke of Paradise Bank will appear and discuss how his three branch bank reached a significant milestone in its six year history by becoming the top Small Business Administration (SBA) community bank lender in the state of Florida.

Since the show’s inception, Bill Lewis has interviewed some of the country’s leading politicians, including: Rudy Giuliani, John McCain, Herman Cain, Chris Christie, Jon Huntsman, Allen West, Rick Scott, George LeMieux, Jeff Atwater, Pam Bondi, Marco Rubio, Sharon Day, Alex Sink, Adam Putnam, Charlie Crist, Bill McCollum, Jeff Kottkamp, Jennifer Carroll, Christine O’Donnell, among others.

In addition, The Credit Report with Bill Lewis has hosted a number of politicians as well as attorneys and financial experts in the south Florida area. Among the dozens that have appeared on the show are Carlos Reyes, Al Lamberti, Chip LaMarca, Adam Hasner, Ellyn Bogdanoff, Tom Rooney, Roger Stone, Bob Davids, Lori Parrish, Richard Denapoli, Rico Petrocelli, Jamie McDonnell, Jim Lewis, Tom Lauder, and John Contini.

The Credit Report with Bill Lewis airs live, Monday through Friday from 7am-8am with an encore presentation Saturday’s at 3pm on AM 740 WSBR. Streaming audio is available at http://www.wsbrradio.com and on air participation is welcome at (888) 721-0074.

If you miss the early broadcast, The Credit Report with Bill Lewis is still available weeknights at 9pm and Sunday’s at 1pm on AM 1470 WWNN by streaming audio at http://www.wwnnradio.com.

For daily updates on The Credit Report with Bill Lewis, you can join Bill’s 35,950 plus fans on Facebook at: http://www.facebook.com/thecreditreportwithbilllewis.

This week on “The Credit Report with Bill Lewis” – 5/21 – 5/26

 

 

Interesting guests and timely topics will be on AM 740 WSBR and AM 1470 WWNN the week of May 21st and The Credit Report with Bill Lewis.

After more than seven years on the South Florida airwaves, Bill Lewis – host of The Credit Report with Bill Lewis – has left his 9 o’clock morning drive time show on AM 1470 WWNN.

The Credit Report with Bill Lewis, a daily forum for business and financial news, politics, economic trends, and cutting edge issues, a daily radio talk show hosted by Bill Lewis has moved south on the dial and now airs on AM 740 WSBR weekdays at 7am.

Originally launched on AM 1400 WFTL in 2004, as the “Credit Restoration Consultants Hour,” Bill Lewis provided self-help tips and advice regarding credit repair, finances, and related topics. Throughout the years, Bill’s show strayed from the original concept of providing financial awareness to his listeners.

In an effort to strengthen his listener base and to broaden the topics hosted, Bill launched The Credit Report with Bill Lewis upon moving to AM 1470 WWNN within the Beasley Broadcasting group.

Listeners were searching for help regarding a myriad of topics from credit repair, extreme coupon shopping, and foreclosure matters, but welcomed the political format that Bill introduced locally to a south Florida audience.

Guests this week on The Credit Report with Bill Lewis:

Former House majority leader and current Congressional District 22 candidate Adam Hasner will appear and discuss his recent endorsements from Florida Senator Marco Rubio and former Governor Jeb Bush.  Hasner has succeeded where Republican presidential and senate hopefuls have failed.  No other candidate for public office has been able to obtain endorsements from Rubio and Bush, the two most influential names in Florida GOP politics. 

Foreclosure defense attorney Carlos Reyes will appear and discuss the latest developments in the mortgage foreclosure crisis. After nearly a year of negotiations, federal and state officials and five major mortgage servicers (Ally Financial, Bank of America, JP Morgan Chase, Citibank, and Wells Fargo) recently announced a $25 billion settlement over alleged foreclosure and mortgage loan-servicing abuses.

Chairman Richard DeNapoli of the Broward Republican Party will appear and discuss initiatives to expand candidate awareness through social media outlets like Facebook, Twitter, and YouTube.

Former presidential appointee and elections attorney Gineen Bresso will appear and discuss her future political plans and aspirations.  As a former Commissioner and Chair of the U.S. Election Assistance Commission, Bresso is an announced candidate to replace Democratic Congresswoman Debbie Wasserman Schultz in Florida’s Congressional District 23. 

Former prosecutor and Fort Lauderdale criminal defense attorney Jim Lewis will appear and discuss his candidacy for Broward State Attorney as the only Republican for this countywide office in 2012. Lewis is challenging incumbent Michael Satz and Chris Mancini, a former federal prosecutor turned defense attorney. Mancini switched his voter registration from independent to Democrat so he could run against Satz in the party’s primary. Lewis will face the winner of the August primary.

Tom Lauder of Red Broward will appear and discuss his political blog where “Making Broward See Red” is not such a hard job.

Florida’s 34^th Senator and current U.S. Senate candidate George LeMieux will discuss his candidacy in the Republican race to replace Democratic Senator Bill Nelson.

Brian Walsh of Wings Plus in Coral Springs will appear and discuss recent appearances by presidential candidates Herman Cain, Rick Santorum, and Newt Gingrich and how his establishment has become the place “where the politically elite meet” in south Florida. Brian will also provide details about the wildly successful Facebook party held at “The Cafe Versailles of Broward.”

Republican Party of Broward County Executive Director Rico Petrocelli will appear and discuss initiatives to grow the local party and upcoming events.

Fort Lauderdale philanthropist and serial entrepreneur Jamie McDonnell will appear and discuss his latest venture, daily deal site LuckyFan.  LuckyFan.com is a dynamic daily discount deal site unlike any other. LuckyFan offers spectacular deals and once in a lifetime experiences so you can live it up, and Get Lucky!

Coral Springs Commissioner and mayoral candidate Vince Boccard will appear and discuss his decision to run for mayor of one of Money Magazine’s “100 Best Places to Live” across America – ranked first in the State of Florida and 44th on the overall list.

Bill Burke of Paradise Bank will appear and discuss how his three branch bank reached a significant milestone in its six year history by becoming the top Small Business Administration (SBA) community bank lender in the state of Florida.

Since the show’s inception, Bill Lewis has interviewed some of the country’s leading politicians, including: Rudy Giuliani, John McCain, Herman Cain, Chris Christie, Jon Huntsman, Allen West, Rick Scott, George LeMieux, Jeff Atwater, Pam Bondi, Marco Rubio, Sharon Day, Alex Sink, Adam Putnam, Charlie Crist, Bill McCollum, Jeff Kottkamp, Jennifer Carroll, Christine O’Donnell, among others.

In addition, The Credit Report with Bill Lewis has hosted a number of politicians as well as attorneys and financial experts in the south Florida area. Among the dozens that have appeared on the show are Carlos Reyes, Al Lamberti, Chip LaMarca, Adam Hasner, Ellyn Bogdanoff, Tom Rooney, Roger Stone, Bob Davids, Lori Parrish, Richard Denapoli, Rico Petrocelli, Jamie McDonnell, Jim Lewis, Tom Lauder, and John Contini.

The Credit Report with Bill Lewis airs live, Monday through Friday from 7am-8am with an encore presentation Saturday’s at 3pm on AM 740 WSBR. Streaming audio is available at http://www.wsbrradio.com and on air participation is welcome at (888) 721-0074.

If you miss the early broadcast, The Credit Report with Bill Lewis is still available weeknights at 9pm and Sunday’s at 1pm on AM 1470 WWNN by streaming audio at http://www.wwnnradio.com.

For daily updates on The Credit Report with Bill Lewis, you can join Bill’s 35,950 plus fans on Facebook at: http://www.facebook.com/thecreditreportwithbilllewis.

Judge denies O.J. Simpson’s request to dismiss foreclosure case

Acquitted murderer, convicted felon, former actor, former sportscaster and former All-Star football player O.J. Simpson is one step closer to losing his south Florida home to foreclosure.

Attorneys for the imprisoned Simpson appeared before Miami-Dade County Circuit Court Judge Gisela Cardonne Ely lat week on a contested motion to dismiss.  In denying relief, the court ruled that JP Morgan Chase may proceed with plans to retake the home.

In September, a JP Morgan Chase process server attempted to serve foreclosure papers at the Miami home of Simpson, located at 9450 SW 112 Street, Miami, Fla. 33176.  At that time, the process server advised the court that Simpson could not be located for personal service of process.

Having been convicted in 2008 of kidnapping and armed robbery, Simpson is currently serving a 33-year prison sentence at the Lovelock Correctional Center in Nevada. He is not eligible for parole until 2017.

First reported by Jose Lambiet at GossipExtra.com, JP Morgan Chase initiated the foreclosure process after Simpson accumulated hundreds of thousands of dollars in mortgage debt on his former suburban Miami home.

The now imprisoned felon purchased the one-story house in September, 2000 taking out a $575,000 mortgage for the $522,000 home.

The 4,233 square foot home south of Miami has four bedrooms, four baths, a pool, and a guest house set on a two acre plot. In 2010, it was assessed by the Miami-Dade County property appraiser at $478,953.

According to court pleadings, Simpson now owes $724,354.15, including principal, interest, attorney’s fees and penalties.  Originated through Washington Mutual Bank, the imprisoned Simpson stopped making mortgage payments in 2010.

Though Simpson was found not guilty in 1995 of murdering his ex-wife Nicole Brown and her friend Ron Goldman in a Los Angeles courtroom, he was found liable in a civil action brought by the deceased’s families in 2007.

“O. J. Simpson still has options to save his home,” said Carlos Reyes, a Fort Lauderdale foreclosure defense attorney.  “Although he is securely locked away in a Nevada prison, Simpson still receives a large pension and could conceivably modify the mortgage loan.”

Simpson’s lawyer contested JP Morgan Chase’s foreclosure action calling their filing “ambiguous and vague.”  Also party to the foreclosure lawsuit was the estate of Ronald Goldman and satellite television provider DirecTv.

A spokeswoman for the Gray Robinson P.A. law firm in Miami advised that it was against their policy to comment on pending cases.

Attempts to reach Vincent McManus of Albertelli Law on behalf of J.P. Morgan Chase were unsuccessful despite two messages requesting a return call.

According to court records, Simpson recently failed to participate in a Florida Supreme Court mandated Residential Mortgage Foreclosure Mediation Program aimed at saving homes to foreclosure.

The FICO credit score and strategic default

Considered a viable strategy for managing troubled assets in an era of high unemployment, record foreclosures and government bailouts, millions of Americans are considering strategic defaults.

With almost 12 million mortgages underwater, a growing number of homeowners are simply walking away from the places they call home.

Strategic defaults, also known as strategic foreclosures, often take mortgage lenders by surprise because homeowners generally have had excellent credit histories and have previously met all their other financial obligations.

One of the distinguishing factors between a strategic default and other mortgage defaults is that the strategic default is a deliberate business decision. The homeowner has the ability to make payments but simply decides not to because the property value is less than the balance owed on the mortgage.

According to a recent Experian-Oliver Wyman Market Intelligence Report, strategic mortgage defaults rose 53 percent to 355,000 foreclosures in the first half of 2009. Prior studies found that 588,000 strategic defaults occurred in 2008, double the number that took place in 2007.

The number of strategic defaults is predicted to double again by the first quarter of 2013.

With more and more homeowners contemplating strategic default, mortgage lenders have sought out predictive indicators to discourage and prevent them by utilizing advanced credit scoring technologies.

A dynamic three-digit number reflecting an individual’s ability to repay debt, credit scores are assigned by the Fair Isaac Corporation. Credit scores play a crucial role in determining whether a borrower is eligible for a loan, the loan amount, interest rates and repayment terms.

Fair Isaac — the creator of the widely-used FICO credit score — recently introduced an enhanced version of its popular scoring model, the FICO 8 Mortgage Score. This enhanced model has made it more difficult for most consumers to secure mortgage loans.

Enhanced to better anticipate consumer behavior amid the foreclosure crisis, the FICO 8 Mortgage Score has been fine-tuned with predictive powers to assist lenders in determining which borrowers are most likely to strategically default.

Predicted to save over $1 billion by preventing 115,000 foreclosures, FICO officials claim their new model is 15- to 25-percent more accurate in predicting strategic defaults than its predecessor.

“The FICO 8 Mortgage Score’s broad availability means that all U.S. lenders and servicers can now easily access scores that are fine-tuned for mortgage performance,” said Jordan Graham, executive VP of Scores and president of Consumer Services at FICO. “By combining this superior predictive performance with the FICO Economic Impact Service, lenders are able to adjust policies and strategies quickly based upon forward-looking economic modeling.

“This is what we mean by the FICO analytic advantage: the ability to use the most advanced predictive analytics to compete and win in this highly challenging environment.”

In addition to having drastically reduced home values on an underwater mortgage, researchers have found other distinct character traits that identify potential strategic defaulters making this decision. Strategic defaulters typically have higher FICO scores, lower revolving balances, fewer instances of exceeding limits on credit cards and lower overall retail credit card usage.

In fact, their behavior is almost opposite to those of distressed defaulters. Strategic defaulters default “because they believe it is in their best financial interest, and because they believe the consequences will be minimal,” said FICO labs head and FICO chief analytics officer Dr. Andrew Jennings. Homeowners plan ahead for the credit hit they will take upon default by purchasing a car, new house and opening new credit cards before they “do the math and walk.”

“Many homeowners are being told to stop paying their mortgages,” said Carlos Reyes, a foreclosure defense attorney with the Reyes Law Group in Fort Lauderdale. “Homeowners should consider their rights and contemplate the long-ranging consequences of such an action. Making the decision to simply walk away may not be in their best interest.”

Strategic default may make “walking away” from a bad debt seem like a good thing, but it can have long-ranging consequences. Absent a deficiency judgment, homeowners will certainly suffer with lower credit scores and a drastically reduced ability to secure future credit. Higher interest rates and unfavorable terms could end up costing more in the long run than continuing to pay on an upside-down mortgage.

“Homeowners should explore all their options before strategically defaulting,” said Reyes.