Introduction
This book and course were written in conjunction from a Regulatory
Aspect, if followed correctly it is a definite means of placing the force
of law in action by utilizing the intent of House Resolution 3221 and
the Housing and Stabilization Act of 2008, hence, the birth of HAMP
and non-HAMP Modifications to the Troubled Asset Relief Program.
For instance, whether written or implied while undergoing the loan
modification negotiations process, the lender is precluded from moving
forward in cases of Foreclosure by virtue of USC 12 U.S.C. § 2607(b)
and 11 U.S.C. § 362(k)(1). Contains Loan Modification Self Help,
Credit Restoration, Hardship and many other forms including where to file
A Florida Corporation, licensed with the State of Florida Department of Financial Services, Lic#: 367479
Duly accredited State of Florida licensed Escrow, Title Law Insurance and Ethics Instructor, Lic#: 1315137
The term HUD stands for housing and Urban Development (originating document
origin) Settlement Statement, which is governed by RESPA (Real Estate Settlement
Procedure Act) under HUD. The inserts on this three page document must comply
with federally allowed regulated fees as determined by the amount of the actual
loan. It sets forth the buyer and seller fees charged by the lender, realtor and local
municipalities (i.e., property taxes, trash collecion, ad valorem etc...)
Within 72 hours of the interest lock, the mortgage broker must provide a GFE or
Good Faith Estimate to the borrower. This allows the borrower to have a ver
realistic estimate of what everything costs.
