Mortgage Litigation
It is now time to turn the table on your lender.
Unfortunately Loan Modification approvals are slowing down and in some cases not being offered any longer by some lenders. The good news is we have another solution. Because we have been assisting so many of our clients with their loan modifications over the last 2 years we can see the writing on the wall. Homeowners successfully negotiating a Loan Modification with their banks directly is becoming more and more difficult. We have seen this coming and have secured another solution for homeowners that have tried the Loan Modification route and failed or were turned down.
The truth about why your lender will not modify your loan……
1. As of January 31st, 2011 the FTC rules do not allow any Loan Modification assistance firms to charge an upfront fee. This gives lenders a much stronger defense against homeowners with no assistance.
2. Is has been projected that up to 95% of Loan Modification applications are being declined.
3. With values projected to drop in 2011 banks no longer have financial incentive to modify your loan. It makes more sense to foreclose now at a higher value and take the loos then risk a bigger loss down the road.
4. Loss Mitigation departments are severely understaffed and poorly managed. Lenders are cutting their resources in these areas confirming their lack of focus on Loan Modifications.
5. The government modification program, HAMP, is not properly regulated and has only provided about 8% approvals out of over 1 million modification requests.
Turn the table on your lender…. SUE YOUR LENDER…
You may think, suing your lender is expensive and time consuming, but think again. With the law firms we introduce you to, you only pay them a small retainer and then they take the rest of the case on contingency (they get paid if and when you do). They take all the documents you have already prepared for your loan modification and quickly prepare a lawsuit for you. They then completely quarterback the whole process and protect you from your lender's heavy handed tactics to take your home. Think about it, you can waste your time going back and forth with your lender or you can sue them and turn the tables on them. You have an attorney representing you and determining how your lender works with you NOT your lender telling you what they are willing to do.
No more "take it or leave it" type responses from your lender and no more not knowing what they are going to do. Your attorney puts your lender in front of a jury in a US Court of law (if it goes that far) and lets the jury decide. Who do you think the jury will side with the majority of the time? As a matter of fact I think most jury are just like you and also feel wronged by their bank.
This is how Mortgage Litigation works…..
1. First and foremost, this is NOT a Loan Modification program but can provide some of the same results and even MORE benefit to you in the end.
2. Our attorneys use the power of the law to try and negotiate and settle with your lender for a rate reduction and/or principal reduction.
3. If the lender will not settle then your attorney will sue and attempt to eliminate the mortgage altogether so you have a free and clear title (NO LOAN)
4. Your attorney may make one or more of the following claims against your lender which will motivate them to settle with you: Malfeasance, Unfair Business Practice, Mers Violations, 3rd party beneficiary claims, Statutory Violations, Phantom Investors and Beneficiaries, Fraudulent foreclosure practices, and Identity theft.
4 Steps to getting an attorney on board now and putting a stop to your lender's games…..
1. After we have a conversation with you to address all your questions and collect your mortgage statement you will be sent the agreement.
2. You electronically sign the agreement and email it back.
3. After a short confirmation call to verify your personal information and your mortgage information you will introduced to your attorney.
4. Your attorney will call you do discuss your case in detail and discuss how to proceed from there.
If any of these are the situation you are in then you need Mortgage Litigation:
- You have been turned down for a Loan Modification
- You have multiple properties
- You have too much debt
- You do or DO NOT have a hardship
- You've received a previous loan modification
- Are late or current on your mortgage
- You are facing foreclosure
- You are in bankruptcy
- You have a date set for the sale of your home