white and red wooden house miniature on brown table

My Conclusions on Mortgage Relief

Since last November, I have spoken to every company, firm or individual who publicly claims to provide mortgage relief services to homeowners.

My findings and conclusions, based on my research, will be a surprise to most of you.  They are in contradiction to the advice you are getting from financial advisors, mainstream media, government and large corporations.

1) Avoid law firms that encourage litigation against your mortgage lender.  Your attorney can present all the right arguments in court and still lose.  Most judges feel you should pay your mortgage if you enjoyed the benefits of living in the property, regardless of potential fraudulent activity on the part of the lender.  Also, keep in mind, your lawsuit against your lender may not stop, or even stall, their foreclosure lawsuit against you.

2) Avoid administrative processes against your lender.  While these processes may stall a foreclosure, they are rarely effective in stopping foreclosure proceedings.  I have seen many cases where homeowners have submitted administrative-process documents to lenders to later discover their efforts were more harmful than beneficial.

3) Avoid government-backed loan modification programs (HAMP).  I believe that many homeowners have been lured into foreclosure while attempting to qualify for the HAMP program.  My bold statement is based on the following:  Homeowners are told that in order to be considered for the program, they must be delinquent on their payments.  The reality is that after eight to twenty four months of providing documentation to their lenders, very few homeowners qualify for HAMP.  Lenders ask for the same documents over and over claiming they either have no record of having received them.  They play dumb in an effort to stall until the homeowner’s delinquency allows for foreclosure of their properties.  The lender’s goal is to collect Default Insurance and gain possession of the property.  If it were anyone other than the banks (lenders), this would be referred to as a “Scam.”

If you are one of the few who are able to obtain a modification, your payment schedule will most likely be increased to forty years while the arrears, as well as fees, will be placed onto the back end of the mortgage, plus interest.   I think I would be safe in saying that very few people would agree to a loan modification if they did the math and realized they would be paying as much as 200% more for their mortgage after it is modified.

4) Significant reductions to principle and interest are possible without litigation, administrative processes or loan modifications.  I am referring to strategies that not only reduce your monthly payments, but also the balance of your mortgage.


For the past 12 years, DOUG JOHNSON has served as an advocate for consumers and homeowners struggling with credit card debt and mortgage difficulties.

In his research, Doug has discovered and exposed illegal, fraudulent and deceitful activity on behalf of creditors and lenders.

These discoveries have rescued many homeowners from foreclosure, and as many card holders from crippling credit card debt.

As host of the popular radio talk show “TheTruth About Debt Relief”, Doug reveals little-known, outside-the-box strategies that are highly effective for all forms of debt.

In his articles and lectures, Doug focuses on the downsides of debt relief options in an effort to protect debtors from false claims made by salespeople. He is also committed to defusing misleading information disseminated by popular financial advisors, whose advice is influenced by government agencies, educational institutions, large corporations and the mainstream media.

To enroll in one of Doug’s free educational webinars concerning unsecured debt, including, but not limited to mortgages and student loans simply click the above link and sign up for the one that best describes your situation.Published by carterharkins and tagged with: Tags: HAMPloan modification programsmortgage lendermortgage loan modificationmortgage relief | 1 Comment