St Louis Home Mortgage: Bank of America Joins Foreclosure Freeze

St Louis Mortgage and Real Estate News –

St Louis Finance News: Bank of America Halts Foreclosures
Principal Reduction Program and Commercial Loans | 314-334-0210 | Floyd Tapia

Bank of America (BoA) is no longer standing in the wings as regards the foreclosure crisis so says St Louis Home Mortgage experts.

They have joined the banking crowd by freezing home foreclosures in 23 states as it investigates whether there were flaws in its process.

“We have been assessing our existing processes,” Bank of America said in a statement.

They go on to say: “To be certain affidavits have followed the correct procedures, Bank of America will delay the process in order to amend all affidavits in foreclosure cases that have not yet gone to judgment in the 23 states where courts have jurisdiction over foreclosures.”

Bank of America did not have an estimate of the number of homeowners that will be affected by the delayed process.

The announcement comes two days after JP Morgan Chase said it will also halt foreclosures for about 56,000 homeowners after learning that its employees may have approved foreclosures without personally reviewing loan files.

Last week, Ally Financial, previously known as GMAC, the finance arm of General Motors, said it will also pause foreclosures in the 23 states.

Mortgage lender Freddie Mac said Friday that it is “deeply concerned” with the recent reports and said the alleged practices are not in compliance with its guidelines.

“We expect to provide instructions to our servicers later today that are intended to ensure that their foreclosure processes are in compliance with state law and Freddie Mac’s servicing requirements,” the lender said in a statement. “It’s essential that the industry work together to protect borrowers’ rights and ensure the integrity of the foreclosure process.”

==================================================

ARE YOU UPSIDE DOWN ON YOUR HOME?
ARE YOU FACING FORECLOSURE?

What if you could substantially reduce your existing mortgage debt balance in as little as 90 days with one simple application or even get a reduced mortgage principal settlement due to common errors found in 85% of mortgages?

(This legal information and data supplied by the FDIC)

18 Million PLUS Homeowners Are Upside Down On Their Home’s Value!

Meaning they owe MORE than their house is worth.

Get your lost equity back, reduce your mortgage balance and lower your payments.

Remember: Don’t get fooled by expensive computer audits or loan modifications which 90 percent(+) turn out to be scams or just don’t work.

Our service:

NOT A LOAN MODIFICATION
NOT A SHORT SALE
SIMPLE APPLICATION
CREDIT IS NOT AN ISSUE

Did you know that lost notes, appraisal and mortgage fraud cause an estimated 95 percent of all mortgages to be legally problematic? Settle your note for pennies on the dollar.

Cut Through All The Misinformation And Find Out What Really Works.

Call Now For Your FREE MORTGAGE CHECK-UP
877-334-0210 or 314-334-0210 | Floyd Tapia
www.LibertyLendingConsultants.com
Home Foreclosure Hero
The Rigley Group

Or visit our principal reduction and loan reduction website for your FREE loan audit and review where you can fill out the quick application.

==================================================

Business Owners: Ready to get started? Our commercial loan and principal reduction applications are quick and easy. And we have the largest portfolio of private lending institutions and investor backed funding sources available where imperfect credit is NOT a problem.

Or, for more information, click the banner below:

Download our commercial loan application here. It’s easy and fast!

(Fax your application to: 314-432-5240 – Attn: Floyd Tapia)

==================================================

Articles and News Sponsored by Liberty Lending Consultants

When applying for any type of St Louis mortgage, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at 314-336-9111 and ask for Steve Swan or Doug Stahlschmidt.

For a FREE loan audit, visit one of the best Principal Reduction Loan Modification Programs. My attorney network and lending specialists may help save your home or business and put a foreclosure stop on the process. A principal reduction can also help if you are underwater with negative equity compared to a loan mod. Don’t wait any longer. You are not alone. Call Floyd Tapia and his professional team at 314-334-0210 or 877-334-0210 for a FREE consultation. Bad credit is not a problem.

Business Owners: As a commercial lending and principal reduction program consultant, my team can focus on bringing you innovative private lending solutions and if necessary can provide a FREE commercial or home mortgage loan audit to meet all types of financing needs. I have access to the largest portfolio of private lending institutions and investor backed funding sources available. Let me turn your challenges into closings by helping you get a nationwide or St Louis commercial lending and financing loan.

St. Louis Refinancing Group