Laila Keith
Seterus Inc. is a large company that offers loan modifications to its customers. The process of applying for a loan modification with Seterus can be challenging, with many customers reporting issues and delays. However, there are companies and law firms that specialize in helping homeowners obtain loan modifications from Seterus, such as United Capital Mortgage Assistance and Amerihope Alliance Legal Services. These organizations provide support and guidance throughout the loan modification process, helping customers to keep their homes and avoid foreclosure.
What You'll Learn
Seterus loan modification reviews
On the one hand, Seterus has been accused of providing inaccurate and untimely information to borrowers seeking loan modifications, leading to a settlement of nearly $1 million for affected Massachusetts residents in 2021. The investigation by the Attorney General's office revealed that Seterus routinely engaged in practices that caused significant delays and frustration for borrowers, such as repeatedly requesting additional documents and failing to provide written assessments as required by law. These issues resulted in a lengthy and cumbersome application process for borrowers, with some facing denial due to tight deadlines.
However, there are also testimonials from customers who successfully obtained loan modifications from Seterus with the assistance of specialised companies. These companies, such as United Capital Mortgage Assistance (UCMA) and Absolute Consultant Group (ACG), offer their expertise in navigating the complex process. They aid borrowers in completing and submitting the necessary documentation, communicating with Seterus, and understanding the terms of the loan modification agreement. Testimonials from customers who have avoided foreclosure and retained their homes through Seterus loan modifications reflect the positive impact of these services.
Additionally, law firms such as Ira J. Metrick, Esq. provide legal representation to borrowers seeking loan modifications. They assist in determining eligibility, advocating for borrowers' rights, and ensuring proper foreclosure procedures are followed.
Overall, while Seterus loan modifications have been a challenging process for some, specialised assistance from companies and legal professionals can help borrowers successfully navigate the process and achieve favourable outcomes.
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Seterus loan modification denied
Seterus is a third-party mortgage servicer that offers loan modifications to its customers. However, in 2021, the company was investigated by the Attorney General of Massachusetts, Maura Healey, for allegations of impeding homeowners' attempts to obtain loan modifications to avoid foreclosure. As a result of the investigation, Seterus was found to have mishandled loan modifications by providing inaccurate and untimely information to borrowers, causing significant delays and frustration in the loan modification process. This resulted in a settlement of $975,000 in relief for affected borrowers.
If your Seterus loan modification has been denied, you may experience confusion and uncertainty about your next steps. It is important to understand the reasons behind the denial and explore alternative options to resolve your situation. Here are some steps you can take:
- Contact a Specialist: Reach out to specialists like United Capital Mortgage Assistance (UCMA) or Absolute Consultant Group (ACG) for guidance. These organizations have expertise in dealing with Seterus loan modifications and can provide personalised advice based on your circumstances. They can help you navigate the complex process, ensure you have the correct documentation, and explore alternative options if necessary.
- Review Your Application: Carefully review your loan modification application to identify any missing or incorrect information. Ensure that you have provided all the required financial documentation and that your application is complete and accurate.
- Communicate with Seterus: Contact Seterus directly to discuss your denied application. Ask for clarification on the reasons for the denial and explore any possible alternatives or other programs you may be eligible for. Keep a record of your communications with Seterus, including any written correspondence or notices you receive.
- Seek Legal Advice: Consider consulting a lawyer, such as Ira J. Metrick, Esq., who has experience in consumer advocacy and fighting foreclosure. A legal professional can review your case, ensure that your rights as a borrower have been respected, and advise you on your legal options.
- Explore Other Options: If your Seterus loan modification is denied, there may be other solutions available to help you keep your home. These could include negotiating with your lender, exploring different loan programs, or seeking assistance from non-profit organisations or government programs that provide support for homeowners facing foreclosure.
Remember that you are not alone in this situation, and there are resources available to help you navigate the loan modification process and find a solution that works for you.
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Seterus loan modification runarounds
The Seterus loan modification department then transfers the application to the customer servicing department, which can result in a cycle of repeated requests for the same documents. This back-and-forth between departments can cause significant delays and frustration for borrowers. In some cases, Seterus has been accused of providing inaccurate and untimely information, sending erroneous notices, and failing to inform borrowers about the additional documents needed to complete their applications.
The investigation by Attorney General Maura Healey in 2021 found that Seterus routinely engaged in these practices, causing the application process to take years instead of months. As a result of these allegations, Seterus, through its former corporate parent Kyanite Services, Inc., agreed to provide $975,000 in relief to affected borrowers in Massachusetts.
If you are experiencing issues with your Seterus loan modification application, it is essential to seek assistance from specialists or organisations with expertise in this area. These entities can help you navigate the complex process, ensure your application is complete and accurate, and advocate on your behalf if your rights have been violated.
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Seterus loan modification options
Seterus is no longer in business, but it was accused of impeding homeowners' attempts to obtain loan modifications to avoid foreclosure. If your loan was previously handled by Seterus and you are facing foreclosure, there are options for receiving a loan modification.
United Capital Mortgage Assistance (UCMA) can help you with the entire foreclosure prevention and loan modification process with Seterus. They will keep you updated and inform you of their next scheduled appointment with your lender/servicer. They will also help you fill out the required documents, making sure they are correct and precise.
Absolute Consultant Group (ACG) is another company that supports homeowners through the loan modification process. They offer a free review of your declined modification and can help you understand why your Seterus Home Mortgage loan modification was rejected.
AmeriHope Alliance Legal Services is a leading loan modification and foreclosure defense law firm with attorneys licensed in five states. They have helped over 7,000 homeowners fight back and keep their homes.
Additionally, the law office of Ira J. Metrick may be able to help you discuss your options if your loan modification application has not been responded to within 30 days, or if your mortgage payment or reinstatement has been refused.
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Seterus loan modification success stories
Seterus is no longer in business as of 2021, but it is possible to receive a loan modification with them. Here are some success stories from people who have obtained loan modifications with Seterus:
Story 1
> Our Seterus clients were an unbelievable 91 months and $265,701 past due on their mortgage. We helped them get a final in-house loan modification with a 3% lower interest rate, $471.53 lower monthly mortgage payment, and $149,666.01 interest written off.
Story 2
> Our client was in foreclosure and $45k past due on payments to Seterus, but we helped them get a trial loan modification with a lower interest rate!
Story 3
> Our client was facing foreclosure and was $12,638.15 past due on his mortgage, which had been previously modified. We helped him get a repayment plan that allows him to keep his home and avoid foreclosure!
It is important to note that each case is unique and these results should not be taken as a guarantee. However, these success stories demonstrate that it is possible to obtain a loan modification with Seterus and that there are resources available to help homeowners in need.
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Frequently asked questions
Seterus Loan Modification is a service provided by Seterus Inc. to help customers modify their loan agreements.
The process of the loan modification is started by a phone interview with the customer servicing department of Seterus Inc. After the interview, the next step is to fill out the Seterus Inc. Request For Mortgage Assistance (RMA) form which requires complete documentation of your financials.
After submitting your application, the broker's price opinion for the property is required for the loan modification process. Sometimes an automatic valuation model is used for the valuation.
If your Seterus Loan Modification application is denied, you can contact a specialist to review your declined modification. Specialists can help you understand why your application was rejected and guide you on your next steps.
