New York State Orders Mortgage Servicers To Offer COVID-19 Relief

New York State Orders Mortgage Servicers To Give 90-Day COVID-19 Mortgage Relief To New York Homeowners 

New York State

Governor Andrew Cuomo and New York State orders lenders and mortgage servicers to step up their mortgage relief efforts. The New York Department of Financial Services demanded servicers let certain residents skip their mortgage payments for 90 days.

Cuomo announced the statewide 90-day mortgage relief period on Thursday.

NYDFSis directing mortgage servicers to offer several options to the state’s residents:

  • Waiving mortgage payments based on financial hardship
  • No negative reporting to credit bureaus
  • Grace period for loan modification
  • No late payment fees or online payment fees
  • Postponing or suspending foreclosures

NYDFS also sent letters to the mortgage servicers that operate in the state:

An increasing number of individuals are experiencing a sizeable disruption in their everyday lives. The economic impact to consumers is considerable and the outbreak will continue to cause significant financial hardship for individuals and families, especially workers who cannot work remotely and do not have access to paid leave.

The letter also states borrowers who demonstrate they are not able to make timely payments due to COVID-19 will be eligible for numerous options.

This also includes:

  • Forbearing mortgage payments for 90 days from their due dates.
  • Refraining from reporting late payments to credit rating agencies for 90 days.
  • Offering mortgagors an additional 90-day grace period to complete trial loan modifications. NYDFS also does not want COVID-19 to affect their ability to obtain a permanent loan modification.
  • NYDFS also wants servicers to waive late payment fees and any online payment fees for a period of 90 days.
  • Postponing foreclosures and evictions for 90 days.

The NYDFS also directs servicers to proactively contact borrowers to communicate the new relief options.

The NYDFS initiative mirrors the relief efforts put forth by Fannie Mae and Freddie MacHUD and FHA have also initiated relief efforts.

Read more at MFI-Miami

Bank Of America Mortgage Customers To Receive Coronavirus Relief

Bank Of America Offers Coronavirus Relief To Bank of America Mortgage Customers

bank of america mortgage customers

Bank of America mortgage customers affected by the Coronavirus will be getting a break. The bank announced Thursday afternoon it was offering relief for consumers and small business clients impacted by the coronavirus.

According to the bank, Bank of America mortgage and home equity customers can request to defer their payments for up to 6 months while the virus crisis rages. The bank would then add the mortgage payments to the end of their loan.

Basically, borrowers can get a break on their payments but will have to make those payments eventually.

Bank of America stated the payment deferral will be available on a case-by-case basis. The bank stated the payment deferral program can also be extended on a month-to-month term.

Read more at MFI-Miami

New York Coronavirus Update: Full Steam Ahead On Foreclosure Auctions!

New York Coronavirus Update: Cuomo And Albany Say, “Full Steam Ahead!” For Foreclosure Lawsuits And Auctions!

coronavirus

New York Coronavirus update! The coronavirus pandemic has shut down NYS and local governments except for essential personnel. The pandemic has also shut down schools. Office buildings and businesses are closed. As a result, people can’t go to work. 

Yet, the courts are open in a limited fashion across New York. Attorneys can still file documents and yes, they can still file foreclosure complaints. Albeit, electronically. The NYS court system is still moving ahead with foreclosure filings and foreclosure auctions. 

Several counties including the boroughs of New York City have enacted eviction moratoriums. However, the courts are still chugging along with foreclosure lawsuits and auctions. The NYS court system is allowing banks to ram foreclosures through in less than 6 months.

Read more at MFI-Miami

Foreclosure Defense Myths That People Still Want To Believe

Foreclosure Defense Myths That People Want To Keep Believing Thanks To Pretender Savior Neil Garfield 

foreclosure defense myths

I am constantly debunking a plethora of foreclosure defense myths from potential clients. Finance bloggers like myself have written over the past decade that these bizarre and inaccurate claims don’t work. Yet, they seem to persist thanks to pretender savior Neil Garfield and his Living Lies website.

Garfield likes to make distressed homeowners think they can play Ben Matlock and walk away with a debt-free house. Garfield Groupies have mostly delusional entitled suburbanites who think they are entitled to a free house. They are trying to figure out an angle to make it happen. Then blame their lender or “Corrupt judges when it doesn’t happen.

Your chances of scoring a free house are 1:150 if you are following the gobbledegook from Neil Garfield’s Living Lies website. Garfield has no experience in mortgage lending nor is he a “Wall Street Insider” like he claims. Finance journalists on Wall Street hadn’t heard of him until he began peddling miracles with his version of Brother Love’s Traveling Salvation Show. 

Read more at MFI-Miami

Wells Fargo Warning: Can Wells Fargo Validate Your Mortgage Debt?

Wells Fargo Warning! Can Wells Fargo Home Mortgage Validate Your Mortgage Debt? Probably Not!

Wells Fargo Warning

Steve Dibert, CEO of internationally-renowned mortgage fraud investigation firm MFI-Miami, announced today that MFI-Miami has discovered serious flaws in the way Wells Fargo Home Mortgage validates debt owed by homeowners. As a result, MFI-Miami has issued a Wells Fargo Warning to homeowners. 

MFI-Miami CEO Steve Dibert:

Homeowners need to request their complete mortgage transaction histories from Wells Fargo Home Mortgage and review them. If there is missing information or if something doesn’t look right, they need to contact a lawyer or a properly trained mortgage fraud expert immediately!

MFI-Miami has examined nearly 200 transaction histories from mortgage loans currently serviced by Wells Fargo Home Mortgage since 2016. Nearly 175 of these contained serious accounting flaws in the transaction histories. These flaws would call into question the amount homeowners owe on their mortgages. Additionally, MFI-Miami’s team of Forensic CPAs have described Wells Fargo transaction histories as everything from a mess to a trainwreck.

Read more at MFI-Miami

Rushmore Loan Management Warning! Can Rushmore Validate Your Debt?

Rushmore Loan Management Warning! Can Rushmore Validate Your Mortgage Debt? Probably Not!

rushmore loan management warning

Steve Dibert, CEO of internationally-renowned mortgage fraud investigation firm MFI-Miami, announced today that MFI-Miami has discovered serious flaws in the way Rushmore Loan Management validates debt owed by homeowners. As a result, MFI-Miami has issued a Rushmore Loan Management Warning to homeowners. 

MFI-Miami CEO Steve Dibert:

Homeowners need to request their complete mortgage transaction histories from Fay Servicing and review them. If there is missing information or if something doesn’t look right, they need to contact a lawyer or a properly trained mortgage fraud expert immediately!

MFI-Miami has examined nearly 50 transaction histories from mortgage loans currently serviced by Rushmore Loan Management since 2015. Nearly 30 of these contained serious accounting flaws in the transaction histories. These flaws would call into question the amount homeowners owe on their mortgages. Additionally, MFI-Miami’s team of Forensic CPAs have described Rushmore Loan Management transaction histories as everything from a mess to a trainwreck.

rushmore loan management warning

These flaws also include 5-year and 10-year gaps in the transaction histories. They also include conflicting payoff figures on payoffs dated the same day. As well as transaction histories with fictitious and inflated payments made to local taxing authorities.

Steve Dibert also said:

There is a definite pattern of impropriety going on here. I find it odd that one of the largest mortgage servicers in the US can’t do the basic 5th-grade math required to calculate an accurate payoff on a mortgage. 

Rushmore Loan Management Warning: Rushmore Allegedly Violated The FCRA 

In 2017, a Florida woman claimed proposed class action that defendant Rushmore Loan Management had committed numerous violations of the Fair Credit Reporting Act (FCRA). She alleged that Rushmore had a systemic practice of producing inaccurate consumer information.

The 13-page lawsuit alleges the woman was harmed after Rushmore furnished inaccuracies to two credit reporting agencies. She also alleges Rushmore did it for five consecutive months. The lawsuit claims Rushmore has committed 10 FCRA violations throughout the servicing of her mortgage. You can read the lawsuit here.

MFI-Miami has helped hundreds of people successfully fight Rushmore and stay in their homes.

MFI-Miami’s Rushmore Loan Management Helpline also works with some of the best litigators in the U.S.

Call us at 888.737.6344 or check us out on Facebook

Former Sheriff Scott Israel’s Secret Relationship With “Mini-Me” Thug Wayne David Collins

Why Was Former Broward Sheriff Scott Israel Palling Around With “Mini-Me” Thug Wayne David Collins?

sheriff scott israel
Former Sheriff Scott Israel

Florida Governor Ron DeSantis removed Broward County Sheriff Scott Israel within days of becoming governor. The public conscience was that it was for Israel’s poor handling of school security. Israel’s critics alleged that his inept management resulted in the mass shooting at Marjory Stoneman Douglas High School 11 months prior to his removal. 

However, it became clear he had a lot of scumbag friends once he was removed. Two of Israel’s biggest scumbag friends were Fort Lauderdale Ponzi schemer and disbarred lawyer Scott Rothstein. Rothstein is now serving a 50-year sentence in federal prison for running a $1.2 Billion Ponzi scheme out of his Fort Lauderdale law office.

The other is scandal-prone “Mini-Me” impersonator and all-around scumbag bail bondsman Wayne David Collins

sheriff scott israel
Mini-Me impersonator Wayne David Collins

Collins even bragged to GoLocalPro in Rhode Island:

“I could get him (Israel) on the phone with you, but I won’t,”

Collins also claimed he and Israel jointly coached their kids’ football and baseball teams. Collins’ companies also gave thousands to the Common Sense Coalition. The PAC took in $160,000 on Israel’s behalf from two of Scott Rothstein’s partners. Coincidentally, Rothstein and his partners represented Collins and several of his businesses. 

Collins also helped raise another $13,700 for Israel from others in South Florida’s lucrative bail bond industry. The scumbag bail bondsman even kicked $500 himself. 

Read more at MFI-Miami