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A Word from Martin Andelman, Mandelman Matters

"...when you submit a REST Report to your lender or servicer, they don’t just receive information about you, they also receive an analysis of the financial impact to investors of the alternatives to foreclosure compared with the cost of foreclosing on your property. We, at Mandelman Matters, believe the REST Report will continue to prove itself a “game changer,” when it comes to obtaining a loan modification, and it is our goal to let every homeowner in this country know that they can do more than send in an application, paycheck stubs, and a hardship letter when trying to get their lender or servicer to agree to modify their loan."

Judge Tells Wells Fargo to Read & Heed REST Report

"I have had a great result with the REST Report that I wanted to tell you about. I work for an Attorney in New York, today the Attorney had to go to a Foreclosure summons meeting at the courts with the Attorney for Wells Fargo. The courts were so impressed with the REST Report that the judge actually told the Attorney for Wells Fargo that there is no reason why the loan modification could not be completed in 30 days, as the REST Report has clearly shown that there are several scenarios in which it is better to modify the loan then to foreclose on the property. Thank you for giving me access to the REST Report. Sam" (Last name withheld here, but she may be willing to speak with others about her use of the report off-line.)

What About the Hardship Letter

Many homeowners mistakenly believe that their hardship letter is the key to getting a loan modification from their lender. And while we're not saying that banks, lenders and servicers aren't compassionate (and we aren't saying that they are), the reality is that the hardship letter is only one piece of the puzzle. Yes, you must have a verifiable hardship in order to even be considered eligible for a home loan modification. And yes, that hardship must involve a reduction in pay, full or partial job loss, death of the primary borrower or close family member, a serious medical issue, a divorce, or a pending interest rate reset, which has or will impact your ability to pay your mortgage. That said, they will still look at the financial details. Armed with a hardship letter and the REST Report you can show that despite your challenges, it makes dollars and sense for them to alter the terms of your loan.

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getRESTreport.com

getRESTReport.com provides homeowners with access to an important tool that may help borrowers to decide whether to pursue a loan modification, short sale or other foreclosure alternative.

The REST Report

The REST Report has become the borrower’s best friend when negotiating with a bank, lender or servicer for a home loan modification and in dealing with other debt related issues. The reason is that the REST Report empowers borrowers to ascertain if it is in the lender’s best interest to modify the loan.

In addition to determining whether a borrower qualifies for HAMP, the REST Report provides an analysis of the lender’s Net Present Value (NPV) for foreclosure, short sale, and several other alternatives.

The REST Software

The U.S. Treasury Department’s most recent HAMP NPV Model (V 3.1) is only available to participating HAMP servicers. Because of this, the model used by the REST Report has certain variations. Loan modification terms proposed in the REST Report will fall within the allowable tolerances of the HAMP eligibility guidelines.

The REST Software is a proprietary model. Each customized REST Report is based on input provided by the borrower. Armed with the REST Report borrowers have essential Net Present Value information for various scenarios including HAMP and in-house modifications, foreclosure, short sale, etc.

The REST Report from getRESTreport.com makes decisions easier.

getRESTreport.com is a private company. We are not affiliated with the U.S. Department of Treasury, the U.S. Department of Housing and Urban Development (HUD), any other governmental agency or any bank, lender, or servicer. The materials and samples on this site are intended to be used exclusively for general information purposes and should not be interpreted as legal advice. Nothing published on this site should be acted or relied upon without seeking legal advice. We expressly disclaim all responsibility and liability for any action or inaction taken based on the content of this site.

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