11/05/2009

Mrs. Gloria Allred, Attorney At Law
6300 Wilshire Blvd Ste 1500
Los Angeles, CA 90048-5217

Dear Mrs. Allred,

This comes to you as an urgent plea for help on behalf of my mother who is an 86 year old homeowner. She has been caught up in a mortgage crisis that needs immediate intervention. Her home was built in 1926 and has been in our family for 83 years. This matter is in need of the appropriate attention and exposure it deserves. I am trying to get her the necessary help that she needs to spare her from loosing her home and to restore her retired life and wellbeing. To this point her mortgage servicer J.P. Morgan Chase has not been willing to assist her and we have been working on this matter non-stop for the last six months now. Chase has failed her and has been uncooperative in helping her to stay in her home. They rather do nothing at all but to deliberately cause her to go into complete default. At which time foreclosure proceedings will follow. Time is running out because on December 1^st her existing mortgage will re-cast and the rate will adjust to a higher payment of which she cannot afford.  This has been reiterated for the last six months in trying to get help. They have offered no solutions of any kind to assist her in this matter. We have been told that the only way we can get any attention on this matter is if she was 30 days or more behind. Because she is a responsible homeowner she wanted to come forward ahead of time to find a solution.

Channel 7 Eyewitness News aired coverage in Feb. 2009 introducing a new Homeownership Center located at 400 N. Brand Blvd., Glendale, CA set up to assist customers with trouble mortgages. Upon going to this center for the last six months in trying to negotiate for a solution; what a waste of time it has been. They advertise their motto, “Your house is your home. We want to keep it that way.” Then how is it that now after six months we have gotten nowhere with this bank offering solutions. This bank needs to be exposed for what it is.

We have been in contact with Generation Mortgage, a leading reverse mortgage company, who is trying to assist and facilitate a new loan that will enable my mother to remain in her home and avoid foreclosure measures. With this being the only option left to spare her from foreclosure, we’re still now trying to negotiate a solution by submitting a proposal to the Loss Mitigation department for a short payoff due to declining market values and even now we’re not getting anywhere being passed from one department to another. Due to declining market values and my mother’s limited Social Security income a reverse mortgage is the only option left since conventional financing has been restricted. A reverse mortgage has no income, credit or health qualifications making it the only loan my mother and most seniors can qualify for in the current mortgage crisis.

Enclosed is our story and all other pertinent information for your review. You can also follow us on our blog at www.HelpASenior.org. As I am sure you know my mother is not the only senior in this situation. This problem is widespread and is something that is happening to tens of thousands of seniors nationwide. The time has come to expose the banks best interest is of their own and not of their customers. Especially retired senior citizens that have limited options available to help them. Our intention is to attain the necessary local and nation media coverage both in print and live media coverage.

With the appropriate help and exposure I am trying to help my mother solve her immediate needs and then expose the real problem to make a difference and help give a voice to a population of seniors that generally do not say anything because of pride and or embarrassment. This problem is not only on a local level but also on a national. “The Greatest Generation” has made it through a lot and what a shame it is to allow such a thing to happen them. Something needs to be done…

We have followed you throughout the years of your legal cases and you set the standard in getting results and being heard through the mainstream media. We respect what you have been able to do for people and their causes and hoping you will consider our need of cause to be an important one.    

We are requesting of you to assist us in this cause and to please consider helping us expose this issue for what it is. We would like to make an appointment to meet with you directly to discuss this matter further. Please contact us at your earliest convenience.  

Thank you,

Shawn & Betty

1. You can still barrow close to 97% of the total home value. You will have to have 3.5% reserved for a down payment
2. The barrower doesn’t have to have an established credit history.
3. FHA home loans can be used for new home purchase not just streamline refinance.
4. There are no minimum credit score requirements.  If you have 620 or more you are a candidate.
5. FHA has a 203(K) loan program for homes that are in need to be fixed up.  Great for investments.

Jennifer Lampe specializes in FHA loans, mortgage loans, and refinances loans in Surprise, Glendale, Peoria and most areas in Phoenix Arizona.   I am licensed to do loans in 48 states, contact me today for a free analysis.

The following is a list of documents that most likely will be required by the lender to process your FHA mortgage when a

· One full month’s worth of paystubs showing Year to Date earnings

· Last 2 years W-2’s

· For Self Employed Borrowers; Last 2 years tax returns with all schedules

· Last two months bank statement

· Current statements that identifies all investment accounts with all pages

· Written explanation for any credit derogatories on your report

· If filed Bankruptcy, a copy of the discharge paperwork

· Copy of your Drivers License and Social Security Cards

· Name, Address and phone number of your Landlord for the past 12 months

· Copy of your Sales Contract with Listing and Selling Agent phone Numbers

Contact me for more information and to discover if FHA is right for your next home loan.

Jennifer Lampe specializes in FHA loans, mortgage loans, and refinances loans in Surprise, Glendale, Peoria and most areas in Phoenix Arizona.   I am licensed to do loans in 48 states, contact me today for a free analysis.

There are several advantages in FHA over Conventional home loans, the main reason is the credit qualifying criteria for the barrower, and it’s not as strict as with the conventional loan financing.  The down payment required is much less and of the tax credit is a bonus when it comes to first time homebuyers.

One plus with FHA loans is that it will allow the borrower who has had a few “credit problems” or those without much of a credit history to buy a home. An FHA Underwriter will require a reasonable explanation of these derogatories, but will approach a person’s credit history with common sense credit underwriting.

Contact me for more information and to discover if FHA is right for your next home loan.

Jennifer Lampe specializes in FHA loans, mortgage loans, and refinances loans in Surprise, Glendale, Peoria and most areas in Phoenix Arizona.   I am licensed to do loans in 48 states, contact me today for a free analysis.

Great news for first time home buyers, the tax credit has been extended! The first time home buyer tax credit deadline has been extended for loans purchased through April 2010.  The credit for first time home remains at $8000, and all other home buyers could be eligible for up to $6500.

Note, the income limits to qualify for the credits was increased too! This will allow for more buyers to qualify, and hopefully boost home purchase.

Jennifer Lampe specializes in FHA loans, mortgage loans, and refinances loans in Surprise, Glendale, Peoria and most areas in Phoenix Arizona.   I am licensed to do loans in 48 states, contact me today for a free analysis.