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There are many options you have when facing foreclosure, but you must act quickly.  Obviously, each situation is different, so we can’t tell you what to do until we review your situation, but rest assured you do have options.

One of the first considerations that we will discuss with you involves the questions about whether or not it is in your best interest to try and keep the property.  The initial, emotional reaction for us all is to want to try and “save” the home.  But many people come to a different conclusion once they have weighed all the alternatives.  For some, it is best to work towards keeping the property.  For others it is best not to keep the property.

If you wish to keep the property, the answer may be as simple as having us communicate with your lender and arrange for some sort of forbearance.  In many cases though, it is necessary to employ one of many strategies for fighting back, including law suits, bankruptcy, negotiations, and more.

If it is not in your best interest to keep the property, then we can help to negotiate a settlement that can get you out of the property, possibly with some money in your pocket. We know of several unique program that involve the help of some very reputable investors.

But step number one is to call us or click the link below. We will set up an appointment to discuss your situation.

The short answer is that you should involve an experienced attorney in every attempt to negotiate a different arrangement with your lender, from the very beginning of your negotiations.  Regardless of what is happening in the economy, lenders do not want to alter the terms of their agreement with you.  They do not want to forbear, modify, accept a short sale, or do anything other than continue to receive the payments on your loan.  They will generally fight hard to keep the status quo.

Lenders have attorneys and professional negotiators that work at every level of their organization.  It is their job to get the best deal for the bank.  They are not in the business of helping you.  If you want to negotiate a different situation with your bank, you’d better come with equal fire power.  In other words, you need professional advice and help.

It’s also important to get us involved early because there are many options and strategies to employ.  Without a comprehensive plan, you may not get everything you set out to achieve.  We can sit down with you ahead of time and formulate a plan that will increase your odds of success.  This holistic way of approaching your situation is much better that haphazardly trying different ways of negotiating with your bank.

Contact us today and set up a free consultation to discuss your situation and formulate a plan of action.  Click the link below to begin the process:

To set up a free consultation, click here.]]> http://www.usfdlg.com/at-what-point-should-i-involve-an-attorney-in-my-dealings-with-my-lenders/feed/ 0 http://www.usfdlg.com/should-i-have-an-attorney-help-me-with-a-loan-modification-or-do-it-myself/ http://www.usfdlg.com/should-i-have-an-attorney-help-me-with-a-loan-modification-or-do-it-myself/#comments Sat, 16 Jul 2011 21:49:18 +0000 admin http://fi.daxcastro.com/?p=457 Continue Reading]]> The vast majority of applications for a loan modification are not granted by the lenders. In fact, a recent study showed that less than 3% of those who applied actually received one. This may be, in part, due to the fact that most people do not involve an attorney when seeking a loan modification.

To apply for a loan modification, you may contact your loan servicer directly. They will typically direct you to follow a well-established process for applying. When you do it this way, you become one of many applications that are reviewed with the exact same criteria for approval as all of the rest. The results are usually not great.

You can also receive no-cost housing counseling about the options that might be available to you from a variety of agencies. These agencies will often help you to file for a loan modification. Unfortunately, the results are no better.

There are also companies in the marketplace that offer, for a price, to get you a loan modification. They simply charge money to file the paperwork on your behalf and to follow-up with the lenders. We would caution you against paying money to many of these companies because the results they achieve are usually no better than if you did it yourself.

In contrast to these methods of applying for a loan modification, an experienced attorney has an advantage in negotiating a loan modification with your lender since an attorney is readily familiar with all of the legal obligations the lender owes to you. Lenders will often work with a good attorney because of the implied threat of other actions that the attorney may take, such as a law suit or bankruptcy. While the percentages are still not high, our attorneys usually do a better job of achieving a loan modification than what people experience from the other options.

Perhaps the most important advantage to involving one of our attorneys in your quest for a loan modification is that you can get advice that is more comprehensive. Our attorneys will discuss all of your options with you and help you to formulate a plan of attack that may include many different strategies. The goal is to put you in a better situation with your home or your real estate holdings, and our attorneys can help you to achieve that goal.

Start by scheduling an initial consultation. Click the link below to do so.

The process through which many real estate agents represent clients in a short sale pretty much amounts to asking for permission from the bank to sell the home short. That permission may, or may not be granted. In most states, even if it is granted, there will be a deficiency judgement filed against you for the difference between what was owed and what the home was sold for. In short, you generally have less than a 50% chance of getting it approved, you will leave the home with nothing from it, and you will likely wind up with a deficiency judgement filed against you.

Add to all this the possibility of other potential legal and financial entanglements, and you have the potential for a lot of problems. There is a reason why the National Association of Realtors, most state and local boards of real estate, and most large real estate companies and networks recommend that an attorney be involved when you are attempting to sell short.

Our experienced attorneys work with your real estate agent to create the best possible outcome. While there are no guarantees, we have more often than not been able to increase the likelihood of bank approval of your short sale. We are also often able to negotiate a settlement in which deficiency judgements are not filed and, in some cases, we have even been able to get negative trade lines associated with the home removed from credit reports. We even know of programs in which you could realize some money from the sale of the home!

The difference lies in the fact that we do not ask for permission. Instead, we open a dialog that is more productive with the bank. It’s more productive because of the options that we have, options that the bank doesn’t like. For instance, they know that if they do not communicate and negotiate in good faith with us, we have the knowledge and expertise to file a law suit, declare bankruptcy, and more. It’s unfortunate, but the banks will often not negotiate unless they feel threatened. The bottom line is that we are often able to offer you better advice and achieve better results than if you simply hire a real estate agent.

So, let real estate agents do what they do best (find buyers for your home) and let us do what we do best (negotiate with your bank). Together, we’ll help you to achieve the best outcome possible.

To set up a free consultation, click here.]]> http://www.usfdlg.com/im-contemplating-trying-to-sell-my-home-short-why-should-i-involve-an-attorney-instead-of-simply-working-with-a-real-estate-agents-who-specializes-in-short-sales/feed/ 0 http://www.usfdlg.com/how-do-i-know-if-i-should-sue-my-bank/ http://www.usfdlg.com/how-do-i-know-if-i-should-sue-my-bank/#comments Mon, 20 Jun 2011 14:53:31 +0000 usfdlg http://www.usfdlg.com/index.php/?p=854 Continue Reading]]> While most mortgage loans issued over the last decade have serious problems, there is not a case with every single loan.  This is why it is so important to speak with one of our attorneys.  They will review your situation and recommend the best course of action for you to take.  In many instances, they will know immediately whether or not there is a case that can be filed.  With other clients, they will request that a forensic loan audit and/or a securitization audit be conducted.

A forensic loan audit is a process that involves reviewing all documents related to the loan for potential violations of the law. A securitization audit involves tracing the path that a mortgage loan has taken, from it’s inception, through the process of secuitization, to it’s present ownership.  Along the way, all documents are reviewed for potential violations of the law.

There are several good companies that conduct these audits.  If your attorney feels that one is necessary, you will be referred to a company that can conduct an audit.

But you should always start by speaking to an attorney.  To schedule an initial consultation, click the link below and fill out the questionnaire.  A representative will then call you to schedule an appointment.

But for many others, the notion of suing their lender is puzzling because they do not understand what has gone on behind the scenes and are only aware of the fact that they have been getting monthly bills that they are now struggling to pay. Some have even questioned the morality of suing their bank. For these people, a little bit of understanding of what has gone on behind the scenes with most loans is valuable.

Gone are the days of the small town bank that simply lends money and then collects interest on those loans. Over 95% of all loans issued over the last decade were sold almost immediately and became part of the process that created mortgage-backed securities. Unfortunately, this process accelerated the potential for greed, which was the primary motivating factor behind a lot of sloppy, deceptive, and/or illegal practices.

We do not file cases simply to be a nuisance. All of the affirmative defenses that we use are based on allegations that we make on behalf of our clients that lenders have violated state and/or federal law. These violations may include, but are not limited to:

• Mortgage Fraud
• Lost or Missing Notes
• MERS Violations
• Uniform Commercial Code Violations
• Common Law Fraud
• Lender Liability
• Mortgage Broker Fraud
• Title Company Fraud
• Deceptive Practices
• Equity Stripping
• Predatory Lending
• Securitization Issues
• And Many Other Violations

Each case is different. Each case is based on the unique characteristics of that case. There is no guarantee that we can sue successfully in every case, but with a large percentage of loans that were issued over the last few years, there is ample cause for a law suit.

The best way to decide whether or not you have a case against your lender is to speak to one of our expert attorneys. We offer a free, 30-minute consultation. To schedule one, simply click the link below:

The first way in which many people seek to “win” is by trying a case in court in which a ruling in their favor is given by the judge. Some have found their mortgage completely thrown out. Others have seen judges bar the lender from foreclosing. Others have seen the lenders sanctioned in some other way. While these examples are increasingly more common, the percentage of cases that result in this type of “win” are still very small.

The second, and much more likely, way in which people “win” a law suit against their lender is that they reach a settlement with the lender. When lenders are faced with a law suit that will cost them a lot of money to fight, and that they may lose, they are often willing to come to some sort of arrangement or settlement with the client. Settlements have included greatly reduced lump-sum payoffs, new loans with the bank with a reduced principle, interest rate, and term, loan modifications, short sale approvals, elimination of deficiency judgements, removal of negative trade line reports (credit repair), and more. In the vast majority of cases that we handle, the primary outcome that is sought for is this type of settlement. While there are no guarantees, the percentage of cases that are “won” in this manner is high.

The last way in which people “win” is in the extension of the time they have in their property. Some of our clients come to us in foreclosure and with short time periods before their home is sold by the lender. The filing of a suit on their behalf can stop the sale and buy a lot of time while the law suit is carried out. While we always seek for a better settlement, there are some cases in which we do not achieve one, but in the process of suing, the client is able to stay in their home for much longer than they originally would have.

Obviously, we cannot promise that you will win a case against your lender, but we can tell you that most of our clients “win” in one of the three ways we have described above. Of course, we don’t know if a case should be filed on your behalf until we have a chance to hear your story and review your situation. To schedule an initial consultation, click the link below: