"… this case was not easy and you put more than 100% effort in it. Your hard work saved our house and family… You’re an excellent guy. You do make dreams come true."

(Bill, Sheila, Allan, Ashley and Andrew Howe)

Our list of satisfied clients includes:

(partial list)

Ken Cunningham -203.671.3673

Bob Pahl -801.596.2937

Manny Labasan -808.283.8913

Ronda Campbell -714.537.0854 -Cell 714.206.9204

Judy Martinez -719.947.0701

Judy Ciatti -715.561.3233

Cynthia Pollesh -920.885.2627 -Cell 920.318.1215

Virginia Regalado -719.994.1328

Dianne Klages -920.696.3414 -Cell 909.877.0182

Jessica Chairez -414.672.4347

Al Bert -414.562.2796

Amy Canadas -775.787.2761

Karen Wilson -715.478.1309

Brian Zerinke -715.526.2834

Daniel Johnson -719.382.4693

Maria Ahihi -562.290.8288

Faye Porter -909.874.1138

Diana Ealy -909.242.1393

Leansa Bryan -909.865.5720

Donna Rivera -262.515.5165

Bill Howe -414.476.8437

Alisa Gilmore -708.481.9928

Karen McNair -818.415.3524

Karen Potter -608.723.7444

Troy & Lisa Minor -770.987.2329

Jeff Jones -818.957.3870 -Cell 818.720.4442

Ingram Nichols -719.574.9102

Roger Mahaffey -714.670.9207

Scott Tilque -920.826.2613

Ed Alvarez -626.806.8381

Coleman Wilson -715.478.1309

Scott Ryan -920.562.1097

Randy Kuehnl -920.993.1969

Terry Kniess -920.432.9377

Bill Rowan -Cell 801.830.8318

Stephen Baptiste -781.645.2317

Ron Henrin -719.310.1953

Christine Bowden -773.536.3084 -Cell 773.343.1752

Gary Toombs -816.333.3629

Kimberly Barnard -262.215.1169

Eugene Harper -319.366.4924

Robert Rolon -609.838.2263

John Vongsouvana -951.303.4523

Donna Worden -770.831.7544

Stephen Baptiste -781.241.3911

Philip Swindler -323.338.5451 -Cell 303.564.8430

Stacey White -609.893.2798 -Cell 609.784.4419

Please feel free to call these former clients

Welcome to our Website, and thank you for taking the time to learn more about our firm.

We are a group of experienced residential and commercial bankers and real estate brokers who understand that federal rules and lender foreclosure policies often conflict.

Few people outside the banking world have the knowledge to work with your current lender to restructure your loan.

Jim Richman

Former H.U.D. Commissioner (FHA home loans are a H.U.D. product)

President and founder of Richman & Associates Inc., a real estate and business debt restructuring firm specializing in foreclosure solutions and financial consulting.

Former senior loan officer with Coast Savings and Loan and Pacific Thrift and Loan.

Former Burbank City Councilman and Mayor.

Former President of NOVA, a sheltered workshop for the handicapped.

Former board member of the American Red Cross.

Published author of Foreclosure articles for Broker Banker Magazine, Mortgage Originator and Scotsman Guide; read monthly by 100,000 mortgage brokers nationally.

JIM IS THE LEADING EXPERT IN FORECLOSURE SOLUTIONS

Areas of Expertise

* Residential Home Loans
* Commercial Loans

Forty-four of the 50 States allow the lender to receive a Deficiency Judgment against the borrower for any loss they suffer from the results of funding a loan on their home.

The 6 States that do not allow deficiency judgments are: California, Minnesota, Mississippi, Montana, North Dakota and West Virginia.

Under some conditions lenders will accept the property back from the borrower as full payment in order to save the time and expense of going through the foreclosure process.

Our job is to convince the lender it's in their best interest to accept the property as payment in full.

This is not a simple plan as we must provide the lender with a complex detailed analysis of current value of the property -and future value. Then we must prove that the borrower cannot afford to make payment or sell the home any time soon or at all.

Note a deed in lieu will also prevent the lender from filing a 1099 on their loss which is regular income to the borrower.

With the increase of interest rates on home loans many homeowners with adjustable rate loans are faced with mortgage payments they can no longer afford.

Our job is to convince the current lender that it is better to lower the homeowner’s payment by lowering the interest rate or payment rate by creating a payment plan the borrower can afford, than to take the home with a foreclosure sale and lose money on the re-sale. Keep in mind lenders lose money on bank owned properties as it will sell for less than market value, and they must pay a commission to a Realtor; and closing cost plus the cost of holding the property while they wait for a sale in a market that is depreciating.

We need to prove to the lender what the maximum payment is that borrower can afford by constructing a financial plan for the homeowner that the lender will approve.

Also as the homeowner is often late with their payments and in foreclosure or soon to be in foreclosure, we need to ask the lender to take the delinquent payments and put them on the back of the loan.

Our success rate is running about 90% when a rate reduction is required. However, a rate reduction in most cases is the only possibility for a homeowner to retain their home -our $1,500 fee is a risk that each homeowner must weight. Note: the success rate on a workout program without a rate reduction is 99%.

Note: Sometimes when we can prove you owe more that the value of the property and there is a second loan, we can convince that second lender to take a major reduction -of 50% to 80% — off the balance of the loan.

Our goal is to stop your foreclosure and give you a fresh start. Our success rate is 99%.

We are specialists in working with your lender, or lenders, to restructure your current loan(s) by providing you with a unique, professional plan that you and your lender can accept.

We fully understand that you have a serious problem and only a short time to overcome the real possibility of losing your property.

The lender wants to see a provable relationship between the homeowner’s income and expenses that will ensure them and the federal regulators that the homeowner will be able to make his payments in the future.

KNOW THE LAW - Every State has different foreclosure laws that govern how long it takes a lender to foreclose on your home. Time can vary from 60 days to 9 months. Contact us and let us know what State you’re in and we will send you your rights, in your State

Typical results of our restructuring plans:

LOAN MODIFICATION - 99% of all "A" type lenders and 70% of sub-prime lenders (with high interest rates) will negotiate a loan modification where your delinquent payments and foreclosure fees are added onto the back of the loan. Your loan payments will remain approximately the same. In some cases the interest rate will be reduced temporarily

FORBEARANCE PROGRAMS - Typically 30% of sub-prime lenders (with high interest rates) will only offer a workout program that requires you to immediately pay at least 20% of your total delinquencies including foreclosure fees, plus the balance of the delinquency will be added to your regular monthly payments over a period of 6 to 24 months. A few will offer 48 months

FORBEARANCE PROGRAMS OFTEN FAIL IF THE LENDER IS NOT FORCED TO CONSIDER THE ABILITY OF THE BORROWER TO PAY. WE REQUIRE THEM TO CONSIDER YOUR ABILITY TO PAY

Please note: we believe that bankruptcy is the absolute last resort

GREAT NEWS!!

FHA and VA loans CAN BE MODIFIED. FHA can give you a no interest and no payment loan to bring your loan current.

Focus on Subprime: A Government Bailout is Not the Answer. Interview with FDIC Chairman Sheila Bair: Poor Lending Standards and Weak Consumer Protections Led to Problems.

Real estate agent Jon Vaughn discusses home foreclosure.

Analysis and Discussion with James Galbraith of University of Texas: 244K Foreclosures in August Equals Katrina Displacements. Fed Chairman Ben Bernanke Speaks to NY Economic Club Tonight.

Foreclosure Filings Up 99 Percent From September 2006

RealtyTrac(R) the leading online marketplace for foreclosure properties, today released its September 2007 U.S. Foreclosure Market Report, which shows a total of 223,538 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported during the month, down 8 percent from the 32-month high in the previous month, but still up 99 percent from the number reported in September 2006. The national foreclosure rate for the month was one foreclosure filing for every 557 households.

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

"U.S. foreclosure activity experienced a fairly broad-based retreat in September, with 39 states reporting decreasing activity and national numbers down in all foreclosure categories — defaults, auctions and bank repossessions," said James J. Saccacio, chief executive officer. "Nevertheless, it’s important to note that September’s total was still the second highest monthly total we’ve seen since we began issuing our report in January of 2005. It’s too early to tell if September’s numbers represent a one-month lull or if they could signify that more buyers and investors are getting back in the market and snatching up discounted foreclosure properties, thereby providing a release valve for distressed homeowners and overwhelmed lenders."

Nevada, Florida, California post top state foreclosure rates