1. Carl Anthony Simmons
Senior Consultant
Bus:407-253-2278
Cell:321-947-9936
“The Help You Need, When You Need It Most”
2. All-American Consulting Group, we are a consulting firm
headquartered in Orlando, FL. We specialize in Mortgage Loan
Modifications. We are dedicated to providing homeowners with the
help they need, when they need it the most!
3. A Loan Modification is a change to the existing
loan contract which is agreed to by both the
lender and the homeowner. The lender modifies
the existing loan based on your current financial
hardship. The purpose is to make the loan more
affordable.
4. Loan Modifications have been around for a very long time.
Initially Loan Modifications were granted for 60 to 90 days as
a temporary solution to a homeowner undergoing a financial
hardship.
Due to the recent government incentives and bailouts, loan
modifications have become much more common and
attainable.
6. • Has an adjusting rate causing “payment shock”
• Has A 6% Interest Rate Or Higher
• Is in Foreclosure Or Received Sale Notice
• Is Behind on their Loan
• Has a hardship or perceives there will be a hardship in the future.
• Has A High Debt To Income Ratio
• Feel’s their Loan Was Predatory
• Has the desire and will take action to get caught up on payments that
are presently in arrears.
7.
8. • Due to current economic conditions there are over
2700 foreclosures per day.
• With the housing market in the state that it is in, the
mortgage companies DO NOT want to foreclose and
take your home. They are willing to work with us on
your behalf, so they do not incur more costs by
acquiring your property.
• The average foreclosure cost the mortgage company
in excess of $50,000 after all court costs, attorney
costs, and various other things that need to be done.
They would much rather avoid foreclosure and keep
you in the home.
9.
10. PAST DUE PAYMENTS &
DELINQUENT FEES
TERM PRINCIPAL
OF THE LOAN BALANCE
We work with lenders, mortgage servicers, and investors to provide
workable solutions for homeowners.
11. All-American Consulting Group cuts
through the red tape and works directly
with the loss mitigation department of
the homeowner’s bank to facilitate a loan
modification.
Customer service is integral part of our
mission and we accommodate the nation’s
pressing needs of effective communication.
12. Though the definition is simple, in reality, a loan modification is a complex
process. Included in this process would be, at a minimum…
Financial Prospects Workout
Financial Analysis Verifying Payments You Can Afford
Letter of Hardship
Current Market Analysis
Loan Restructuring Proposals
Cost Benefit Analysis for Your Lender
Cross Cost Analysis
13. Phone calls with the lender: An average modification includes 30 to 40 hours of phone
calls, the majority of which is spent on hold.
Verifying the receipt of documentation: Documentation required by the lender to
process a loan modification is generally sent via fax. Depending on the lender,
documents may have to be sent up to a dozen times.
Conference calls between the lender, homeowner and modification company:
Occasionally, the lender will want to speak with the homeowner directly. This includes
coordinating with the borrower and lender to schedule a mutually acceptable
appointment time and participating in the conference call.
The Modification depends on the lender timelines: The timeline for a modification
varies from lender to lender, taking anywhere from 30 to 90 days.
14.
15.
16. We take your original loan documents and use
specific state and federal mortgage loan post
compliance software to calculate and identify
Truth and lending (TILA) and Real estate
settlement procedure act (RESPA) violations.
17. • Over 80% of the audits
on Adjustable rate
mortgages (ARM) loan
documents that were
performed, revealed
major predatory
lending and Real
estate/Mortgage fraud
violations.
18. This process gives us additional leverage when
negotiating with the lender and more than enough
incentive for the lender to grant a beneficial loan
modification.
19.
20. • We look at • Built in the same
homes sold in year.
your area
including • Same square footage.
foreclosures
and short
sales.
We take a one mile radius from your home.
21. Then we use those values to negotiate with the
lender to determine the current market value of
your home and negotiate your principal balance.
22.
23. • No Credit • No Closing Costs!
Check!
• No Refinancing!
• No Appraisal!
24. The only thing that’s required is the ability to show the
lender that you a currently undergoing a financial
hardship making it impossible for you to meet the terms
of the original loan. The hardship can be temporary in
nature or permanent, but the borrower must be able to
prove the hardship.
25. What are hardships?
• Loss of job
• Divorce
• Illness
• Reduction in income
• Past due bills
• Other unexpected events
26. Customer Service Specialist
After we complete your paperwork today our customer service specialist
will contact you in 24 hours. Her job is to answer any questions that you
may have, advise you of any additional information that we may need. She
will also keep in constant contact with your regarding the status of your loan
modification. So at anytime if you have any questions regarding your loan
modification, please don’t hesitate to give myself or our customer service
specialist a call.
