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| MIPATH LOAN MODIFICATION AND SHORT SALE SOFTWARE NOW AVAILABLE
Modification software designed for every level of modification experience.
 Helps you retain clients by providing relevant data and tools for you to provide professional modification services for the home-owner. Consulting or document preparation.
 Find the right modification software and assist your clients with confidence. MiPath is the right software. MiPath incorporates auto, credit, mortgage and short-sale modification procedures all in one and easy to navigate software package and includes the TILI report. Simple clicks take you to information you need. Information that establishes you as a premier expert on assisting
financially distressed home-owners.
 Create detailed and understandable reports with MiReports and include them with your submission to the Lender to improve your chances for a positive response.
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 MiPath is available for purchase. Contact us today and discover how you can put MiPath to work for you.
Want to try a free copy of MiPath? Contact us today! Contact us today and get started!
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MIPATH MODIFICATION AND SHORT SALE SOFTWARE. Go beyond standard modification software and provide services with Mipath.
Provide mortgage modification consulting, mortgage modification all in one amazingly easy to use software. MiPath helps you get organized chance for mortgage modification consideration that may help the found submission to lenders. Simply review the TILI report and understand what positive to lender. Select modification mortgage payment based on HAMP waterfall technology. Prepare lender worksheets, authorizations and submissions with a simple mouse-lick. View trends, challenges and easily bring our treasury and software plans and reports with MiTools. Even include to lend support to your findings. Internal automated messaging system helps everyone stay up late, to keep your client up to state of waterfall technology, monitor upcoming trustee sale dates, monitor the home of the dates, analyze value trends, create your own seller database for fast access to practice interested in short sales, provide investors with property profile reports, print a short-sale to begin the short-sale process, connect your appointments with Outlook, and more. Still not convinced....
IF YOUR SOFTWARE DOES NOT KNOW THE DIFFERENCE BETWEEN A HAMP 65B or 65D SHORT-SALE, YOU NEED SOFTWARE.
IF YOUR SOFTWARE DOES NOT KNOW THE REAL REASON WHY THE HOME-OWNER IS TURNED DOWN FOR A MODIFICATION, YOU NEED OUR SOFTWARE.
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| NEWS  mortgage modification
Did you know that there are actually seven tests that must be run in order to qualify for a Home Affordable Mortgage Modification?
Four of the tests are easy to identify; 1. Loan originated prior to January 2009 2. Property is owner-occupied 3. Loan amount within program guidelines 4. Qualifying hardship 5. 31% or greater ratios
Test number six is the imminent default test and test number seven is the net present value test.
Do you know what happens when the home-owner does not pass the imminent default test and has $250000 or more in assets?
If not, have Casimod or MiPath discover the answers for you.
04/18/11
Mortgage modification are quietly becoming a major concern for large lenders. Just last week Bank of America moved over 3000 of their employees into roles that are related to mortgage modifications. With the subject to pressure of the lender soon will not take into consideration or else. There is pressure from government agencies, but the main reason is that lenders are now understanding that the delinquent mortgage side of their business is not anytime soon.
The hope was with new buyers. But, due to mortgage, the pool of potential new home buyers has dwindled. Banks make homes from the loans of money but lending money. If their is not money to lend, then there is simply profit to be made.
If lenders continue their path of foreclosing on these terms of the homes, they will end up with . An inventory that they will need to maintain (property taxes, hazard insurance, repairs, etc.).
Look for mortgage modifications to rise in the coming months. Lenders will be open to consider more modifications for the 'right' home-owner.
The 'right' home-owner is defined as a home--owner who is and shows responsibility in wanting to retain home ownership. Completing just the necessary paperwork is no longer going to get the job done. The focus is on the all the important details that are not reflected on the mortgage modification application.
Have you ever considered how a lender will view a mortgage modification request for a condominium? Or how a lender looks at a home owner with high credit card debts?
Take a look at Casimod or MiPath.
| | NEWS short-sale
Many home-owners will not qualify for a mortgage modification. There are options available to the home-owner to retain assets homes of their homes.
One of these options is a short-sale.This is usually the best option the home-owner can choose if the home is significantly below market value. A short-sale is a transaction that allows the home-owner to be the test for the home buying specialty lender by selling the home for less than what is owed. Many geographic suburbs will simply not recover from the effects of the real estate depression.
Lenders prefer that the home-owner continues to tender their monthly mortgage payment towards a depressed property.Currently, the home-owner benefits from being released from all obligations and tax consequences when choosing a short-sale. This benefit will not always exist for the home-owner.
A house burdens the home-owner with ongoing maintenance costs, property tax payments, hazard insurance, earthquake insurance, flood insurance, home-owner association dues, etc. Removing these test result in a approval test matter. And that is the result that any home-owner should be seeking. Financial health, not the retention of inflated debt and deflated assets.
Even the Home Affordable Mortgage program (HAMP) is to chance its focus towards short-sales. And based on past mortgage modification metrics, the decision to so is valid. Mortgage modifications in the first 2 months at a rate of approximately 30%. This is due to ongoing economic weaknesses that continue to affect home-owners.
Prior to requesting a short-sale, a request for a mortgage modification must be submitted. Upon being declined by the Lender, you can then request a short-sale. A short-sale does require professional guidance and assistance. A short-sale transaction can take up to six months with a Lender upon submitting all required information and documents.
Mipath includes a Short Sale Listing Agreement to assist seller and broker.
Based on the Home Affordable Foreclosure Alternative program, you will be allowed to search for a buyer for a period of 120 days. Additional guidelines do apply.
However, recently most Lenders have developed their own guidelines that call for a qualified buyer to be submitted with the short sale request.
HAFA approval sample
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|  Net Present Value test
Also known as NPV. This test is used by lender's to determine mortgage modification ineligibility. Most modification software offer tests, however the problem resides with the fact that most lenders are allowed to customize the official Home Affordable Mortgage Program ("HAMP") NPV test parameters. Therefore, the by the lender can differ from the official HAMP test parameters. The NPV test results are used by disqualify a home owner for a HAMP mortgage modification. In addition, the lender does not approve home owners based on guidelines or on emotion. They approve or disapprove home owners based on profitability. Therefore, MiPath does not include a NPV test, but goes further into analyzing whether the lender is better off not offering a mortgage modification, but instead offer a short sale or worse, foreclose. MiPath offers the proprietary TILI report. The TILI report compares a mortgage modification, a mortgage modification with a principal reduction, foreclosure and a short sale to determine the better interests for the lender. The TILI report is a invaluable addition for any professional to assist the home owner at the beginning to determine the best strategy. review TILI report sample
helpful hints when considering a mortgage modification
 - Research the transaction prior to submitting information and/or documents to the Lender
- Request certified copies of Good Faith Estimates, Truth-in-Lending Statements, 1003, Note and Deed of Trust
- Provide the Lender with property details regarding structure defects and maintenance
- Develop a second plan that you are committed to execute on if Plan A fails
- Seek professional guidance
 - Do not submit information or documents to the Lender without thoroughly understanding the reason for the request
- Do not submit more information or documents to the Lender than required
- Do not accept an answer from the Lender without a full understanding of their reasons
- Do not pursue anything with your Lender without having develop a Plan B
helpful hints when considering a short sale - Contact a professional whom can assist you with the sale and verification that you will not face a taxable deficiency
- Research whether you qualify for Home Affordable Foreclosure Alternative program relocation assistance
- Provide the lender with property details regarding structure defects and maintenance
- Develop ideas on how to improve your financial health
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