2011 February |

Captaloans Launches New Referrals Promotion (Press Release)

February 21st, 2011 Posted in Captaloans Updates

Feb, 21 2011

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Captaloans, well-known and respected for its loan modification and debt settlement pipeline tracking and CRM program, has launched a new program to help promote its software and increase subscriptions.

Aimed at current subscribers, it hopes to capitalize on the network professionals in the legal credit/debt world have established.

Captaloans provides customer/client relationship management and pipeline tracking for professionals helping people with debt and credit problems such as loan modifications and debt resolution services. These professionals have many contacts throughout the industry. So for those professionals who currently subscribe to Captaloans, the promotion offers the following rewards:

For any current subscriber who refers a firm or office to Captaloans that then signs up for a premium account and maintains it for 3 months, on the 90 day anniversary of the signup, the referring subscriber will receive a $100 Amex Gift Card.
If the new company also opts to use Captaloans branding service, the referring subscriber will automatically be entered into a monthly drawing for another $100 Amex Gift Card.
If the new company subscribes for 25 or more seats and maintains the account for six months, the referring subscriber will receive another $100 Amex Gift Card.
There is no limit to the number of cards that can be earned.
The promotion ends December 31, 2011.

Captaloans is a highly respected provider of cloud-based software designed for legal professionals including lawyers, paralegals, legal secretaries, brokers, etc. Our software services provide easy and convenient communication and management of client/customer relations (CRM) coupled with efficient tracking and control of leads and client cases involving debt settlement, loans, and loan modification. More information is available at www.captaloans.com.

Amex gift card, bankruptcy, captaloans, debt settlement, loan modification, promotion, referrals

New Foreclosure Scam

February 16th, 2011 Posted in bankruptcy, loan modification, loss mitigation

Feb, 16 2011

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photo credit: quinn.anya

As reported in the Modesto Bee, Alan David Tikal was arrested in Las Vegas for committing real estate and mortgage securities fraud, grand theft, and filing phony documents. It appears he was preying on immigrants who spoke either no English or English as a second language. The Bee reported that their review of documents showed transactions with 19 homeowners in Stanislaus County, all with Latino surnames.

Sad to say, it’s the usual deal of someone hoping to save their home and willing to believe that they can pay someone a few thousand dollars to get a substantial reduction in their payments. Ladies and gentlemen, it’s just not going to happen.

Here’s the new fraud deal that many are falling for. People who desperately want to save their homes are lead to believe that by paying someone $1000 to $3000, they will get a new loan at only 25% of what they owed. No bank in the world is offering this good a deal, even with HAMP backing.

This is why California and other states passed laws prohibiting companies and people from taking money up front to get a loan modification. Too many people were paying and then winding up losing their homes anyway because the companies or agents really did nothing. This is just another variation on that scam.

Buyer beware – if it sounds too good to be true, it is – don’t believe it. And especially don’t pay anyone up front to help get your loan reduced, modified, or refinanced. They should only get paid when the action is complete. Captaloans strongly suggests using only a lawyer or certified legal firm to help you with your loan modification.

bankruptcy, foreclosure, foreclosure scam, loan modification, loss mitigation, mortgage

HAMP May Get Axed

February 15th, 2011 Posted in mortgage software

Feb, 15 2011

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photo credit: Max Klingensmith

As noted in several recent articles and blog posts, such as totalmortgage.com, as Republicans move to make good on their campaign promises to cut the budget and stop wasteful spending, many different programs may get eliminated or significantly reduced.

As we and many others have noted, HAMP has been a major failure. Initially forecast to save between 3 and 4 million homes, the poorly written and managed program has been mostly a money waster. While it has helped over 500,000 homeowners (as of December 2010), this is nowhere near the original estimate and has cost the government (taxpayers) billions of dollars to manage. It is, my most gauges, pretty much a failure.

So it should come as no surprise that HAMP is on the chopping block.

Some other programs that are being closely examined include: Read the rest of this entry »

CalHFA Has New Mortgage Forbearance Program

February 11th, 2011 Posted in loan modification, loss mitigation

Feb, 11 2011

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photo credit: somaya

California’s Housing Finance Agency (CalHFA), helped by $2 billion from the US Treasury’s Hardest Hit fund, has launched four programs under their Keep Your Home California program. These programs are designed to help people trying to avoid foreclosure. All the programs are designed to help low or moderate income homeowners who are unemployed or facing other financial hardship, have fallen behind on their mortgage payments, and owe significantly more than the value of their homes. Here are the four programs with brief descriptions of what they will provide. Read the rest of this entry »