Welcome
Janian and Associates is a Professional Law Corporation; our goal is to protect our clients rights and find solutions. We strive to give our clients the professional and personal attention that they deserve.
We are a full service law firm with various practice areas such as: |  |
Mortgage Fraud Litigation, Loan Modifications, and foreclosure help consultations (Short Sales and Deed in Lieu of foreclosure help). We take rapid, crucial legal action for people seeking to stop foreclosure, preserve their assets and credit ratings. Real estate owners should go through all of their options and be walked throught the legal consequences of their actions to avoid the loss of their property due to foreclosure. When dealing with last resort situations, we offer the option of bankruptcy to protect any remaining assets. Our offices are in based in California.
Why should you consider a Loan Modification?• Lower your mortgage payments
• Lower your interest rate
• Save your home from foreclosure
• Grant extensions on payments
• Reduce your loan balance
• Waive negatively accrued interest
• SAVE YOUR HOME
We have had great success in restructuring loans held by the following
mortgage companies:AMC Mortgage, American Home Mortgage Service, Bank of America, Beneficial, Chase, Citi Mortgage, Citi Financial, Countrywide loan modification, EMC, Everbank , First Franklin, Freddie Mac, GMAC, Homecomings Financial, HomEq, HSBC, IndyMac , Litton Loan Services, Midland Loan Modification, M&T Bank, National City , Ocwen Mortgage , Option One, Saxon, Select Portfolio Services, SunTrust, Wachovia Bank, Washington Mutual(WAMU), Wells Fargo, Wilshire.
President Obama's Homeowner Affordability and Stability Plan
As many as 6 million families are expected to face foreclosure in the next several years
The sudden and harsh decline in the economy and housing market has created devastating consequences for homeowners throughout the country. Millions of homeowners have seen the value of their home plumit. Responsible families who pay their mortgage on time are faced with a new situation. The value of homes are decreasing and refinancing their homes to a lower martgage rate is out of the question. Meanwhile, unemployment is on te rise and millions of workers in this country are struggling to keep up with their mortgage payments. Over 5 million jobs have been lost in the past 14 months and millions of hard working families are now spending more than 40 or 50 percent of their income towards their monthly mortgage payment.
President Obama's Homeowner Affordability and Stability Plan (HASP) introduced earlier this year, offers assistance to over 7 million homeowners who are currently making a good-faith effort to stay current on their mortgage payment s. HASP supports a recovery in the housing market by stabilizing home prices in communities hardest hit by foreclosures. The program brings lenders, servicers, borrowers, and the government together to share in the cost of restructuring mortgages so homeowners can afford their monthly mortgage payments.
Homeowner Stability Initiative offers reduced monthly payments for 3-4 million "at-risk" homeowners allowing them to continue paying off their mortgage and avoid foreclosure. The goal of this program is to reduce the amount that homeowners owe each month to a lower, more affordable amount. Under this initiative, loan servicers are required to reduce monthly mortgage payments to less than 38% of the borrower's income by restructuring or modifying the current loan. Anyone with a high combined mortgage debt compared to income or who is "upside down" on the mortgage may be eligible for a loan modification. Borrowers who are in adjustable or Subprime loans with high interest rates are also eligible. Mortgage loans can be modified by reducing the interest rate for a specified amount of time, extending the term of the loan (to 40 years instead of 30 years), and/or principle reductions. Servicers covering more than 75% of the loans in the country have begun modifications under Obama's Homeowner Affordability and Stability Plan. 2nd Lien Program
Millions of workers are stuggling to stay ontop of their mortgage payments after the cut of their hours or the loss of their jobs altogether. In the next several years, as many as 6 million families will face foreclosure and millions more will struggle to keep up with the rising interest rates on their mortgages. Second liens contribute to those numbers of families who are unable to afford their housing payments. It is estimated that up to 50% of at-risk mortgages currently have second liens. The 2nd Lien Program offers homeowners a way to lower payments on their 2nd mortgage. This program coordinates with the first mortgage modification process to lower payments on 2nd liens, helping to keep more than a million Americans in their homes. In some cases, the servicer may accept a lump-sum payment from Treasury to eliminate some or all of a second lien. This program shares the costs with lenders who participate in reducing payments for homeowners with 2nd mortgages.
I don't need legal assistance; my Mortgage Company has sent me a letter offering to modify my mortgage.
With all of the Government programs in place offering incentives to lenders, why do I need legal assistance with my loan modification?
It is true that there are financial incentives for lenders willing to modify mortgages. But, the lender is eligable for incentives simply by OFFERING to assist the homeowner. The lender can simply send a letter OFFERING to modify your mortgage and they will be eligable for Government subsidizing. They are not required to follow through with the loan modification.
Why can't I just apply by myself?
A loan modification application that is submitted by a homeowner is analyzed to determine the profitability to the investor or the likelihood of loss. The "Net Present Value Test" is used to determine what will create more cash flow to the investor-Foreclosure or Modification. The best interest of the homeowner is not taken into consideration. It is based purly on that will be bring in more money to the investor. Their decision is based on the economic interest of the investor. If modification is not in the economic interest of the investor, they will decline your application.
Armen Janian does not work for the investors. He works for you! He has YOUR BEST INTERESTS AT HEART.
