Take control and get what you need
The rewards of a lawsuit vs. modification (based on Countrywide stipulated judgment click to review http://ag.ca.gov/cms_attachments/press/pdfs/n1618_cw_judgment.pdf)
- Interest rate reduced to at 2.5% and fixed for a 30 year term
- Principle reductions to current value
- Monetary damages for homeowners (as stated on the stipulated judgment)
- Wiping out of mortgage lates off your credit report
- Foreclosure delay included retainer
- Eviction delay if needed
The fees are generally at or a little above those of retaining a firm to do a modification and could be considered less if one takes into account foreclosure delay cost is included. Foreclosure delay can cost $800 – $1,500 a month and is not a solution; a settlement is permanent.
The HUGE difference between litigation and the loan modification process
A loan modification process is one where you follow lenders rules and regulations and submit information directly to the lender according to their guidelines. If you ever have dealt with loan modification process, you constantly send documents over and over again and most of the times never get any results.
Litigation on the other hand is suing the lender. The lender in litigation is no longer playing by its own rules but instead by laws and statutes overseen by a judge and potentially decided by a jury of your peers and not the bank. There is also the potential for monetary damages.
If you meet one or many of the following your are a great candidate for the litigation process?
- If the loan is an interest only product
- If the loan is a pick a payment or negative amortization
- If the loan has penalty for prepayment
- If the loan has balloon payments
- If the loan is an 80/20 loan
- If the loan is based on stated income
- The income or the value of the property was inflated to obtain the loan
- Denial of loan modification or termination from the existing trial program
- Broker who charged excessive fees
- Wrongful foreclosure
- Value of Property inflated
- Denial of Modification
- Charged too many fees
- Wrongful foreclosure
The firms I work with
- Have Seasoned Litigators, some with 20 + years of experience
- Have filed thousands of unlawful detainers, received principle reductions for homeowners, cancellation of foreclosure, permanent loan modifications, and has obtained millions in monetary damages for their clients.
- Zero bar complaints and the best of BBB ratings
- Exceptional customer service – personal contact representatives – online tracking
Contact me personally for a brief qualification interview to see if you can obtain the loan you want or fill out the form on the right