Avoiding Foreclosure With Loan Modification and Persistence
The client bought a home with his mother, both of them were on the deed to the property and the loan. The clients fell on hard times and were unable to make the mortgage payments. The house eventually went into foreclosure and the clients hired Loan Lawyers to represent them to save the home. Loan Lawyers got to work on a loan modification with the servicer. However, the mother previously filed bankruptcy, and her obligation to pay on the loan was discharged. She also executed a quitclaim deed to her son, so he was the only legal owner of the home at that point. However, the mother was still officially a borrower under the loan documents even though she filed for bankruptcy.
Eventually, the loan modification was approved but the servicer wanted both borrowers to execute the loan modification. The mother refused to sign since she already did a bankruptcy and gave up her interest in the house. This created a tremendous obstacle to the loan modification. The servicer is not required to modify the loan in the first place and they were demanding that the mother sign the agreement as well since was still technically a borrower.
This situation required persistence and perseverance. After escalating this issue to the upper management at the servicer, and many phone calls and threats of litigation, the servicer finally relented. The loan was modified with only the son’s signature and the foreclosure case was dismissed. Another house saved through some good old fashioned hard work.
How Important It is to Choose Loan Lawyers If You Have Been Sued Over a Defaulted Debt
Our client fell on some difficult times several years ago. He was struggling financially and had to choose between feeding his family or paying a credit card. The choice was obviously not a difficult one to make. Several years went by and the client never heard about the credit card debt again.
Out of the blue, he was sued for over $14,000 by a major national debt buyer. The client was really getting back on his feet, however, being sued for $14,000 was a troubling experience. Although he was doing much better financially than in years past, he did not have $14,000 laying around. He was concerned about a judgment being entered and his paycheck or bank account being garnished. He spoke to several lawyers who told him that they could probably work out a deal to pay between 35% and $40% of the debt and get him a payment plan to pay to off over 2 years. The client wanted to live up to his obligations, but having to pay this debt would put him right back in financial distress. Fortunately, he called Loan Lawyers.
This debt buyer knows that we sue for all sorts of debt collection violations under the Fair Debt Collection Practices Act and other laws designed to protect people with debts. With just a few phone calls (and little chest pounding), we were able to get this debt buyer to dismiss the case against our client, completely wipe out the debt, and remove it from his credit report. All of this was done within 2 weeks. This case study is a great example of how important it is to choose the right law firm if you have been sued over a defaulted debt.
If you find yourself on the wrong end of a lawsuit, call Loan Lawyers right now at 1-888-FIGHT-13 for your 100% free consultation with one of our attorneys and let’s discuss what magic Loan Lawyers may be able to work for you!
Student loan debt wiped out!
A totally distraught client came to our office several months ago. He is elderly and was suckered into co-signing a bunch of student loans for his son. His son apparently pocketed the money and never finished school. This situation caused our elderly client to have a stroke and a heart attack from all of the stress over this. He is on a fixed income and could not pay a massive student loan debt. The student loan company filed a lawsuit against him. At first glance, it seemed as if it was a tough case for our client. However, upon a close examination of the records attached to the lawsuit, we found a major blunder committed by the student loan company and their lawyer.
They disclosed private credit information in the attachments to the lawsuit they filed. That gave us just the opening we needed to go on the offensive. We began preparing a class action lawsuit against the student loan company and the lawyer for violating our client’s rights under the Fair Credit Reporting Act. We threatened to file the class action unless they wiped out every last penny in student loan debt. They tried weaseling their way out but offering to wipe out only a small amount, but he held firm. It was either wipe out every last cent or we go after them in federal court on behalf of everyone they have done this to. After realizing that we meant business, they threw in the towel and agreed to wipe out the entire student loan balance for all of the loans.
To say that our elderly client was happy would be an understatement. He was practically crying from joy when he heard the good news. That is why Loan Lawyers exists, to make a difference in people’s lives. This is the feel good story of the month for sure.
If you have been sued over student loan debt, do not give up hope. While these cases are not easy, with the right lawyer on your side, you may be able to accomplish a lot. We have actually uncovered that this student loan company has committed this same violation in cases across the United States. If you have been sued for a defaulted student loan, whether the case is pending or it has been closed, we would love to review your situation and see if they have done this to you as well.
Call Loan Lawyers now at 1.888.FIGHT.13 for your 100% FREE case review. Our lawyers are ready to help you.
Loan Lawyers Have Multiple Tools Available to Help Homeowners
The clients came to us with a pending foreclosure matter. We came to the conclusion that the clients would be well served with a loan modification. They hit some hard times and are now back on their feet, but unable to catch up on their missed mortgage payments. We submitted the loan modification to the loan servicer. Pursuant to Regulation X found at 12 C.F.R. 1024.41, the servicer was required to render a decision within 30 days. However, as is all too common, the 30 days came and went without any response. We followed up but to no avail. The servicer failed to respond to the modification after repeated attempts to get an answer.
So, we filed a federal lawsuit against the servicer for the Regulation X violation. This caused the mortgage loan servicer to finally get moving. After a small battle, they finally offered the client a great modification and paid his legal fees and costs, and some money for his troubles as well.
A situation like this is why it is vital to choose a law firm that has multiple tools available to help homeowners. Many lawyers only do foreclosure defense, but even then all they do is kick the can down the road, just pushing off the inevitable sale of the home. If a lawyer does not offer loan modification services, you can be assured that the lawyer is not in the business of saving homes. However, it’s not enough to just find a lawyer that also offers modification services. You need to make sure that the lawyer you choose has actual experience suing loan servicers in federal court for various violations, including when they do not play by the rules put into place for modifications. That is why Loan Lawyers is your total debt solution law firm. Whatever it takes to put you in the best position possible to save your home, Loan Lawyers is more than capable and ready to help you.
At Loan Lawyers, we have saved thousands of homes from foreclosure, have eliminated more than $20 million in mortgage principal forgiveness, and have recovered more than $10 million from loan servicers and debt collectors for violating the law. If you are having trouble with your loan servicer or are afraid of losing your house, call us right now at 1.888.FIGHT.13 for your free consultation with one of our lawyers.
A case study on how multiple solutions are often needed to work together to save homes from foreclosure.
We had a great result for a nice family that came to see us regarding a foreclosure case. They fell on hard times a couple of years ago and were unable to make their mortgages payments. They were eventually sued for foreclosure which was devastating to this family. They were struggling financially as it was and now are threatened with losing the roof over their heads. It was obviously an incredibly stressful time for this family, but fortunately they turned to Loan Layers for help. At the time they originally came to our office, things were improving financially for them, but they were not earning enough money to be able to make mortgage payments again and also did not have enough income to qualify for a modification. So we initially defended the foreclosure for them and began to pick apart the documents to find anything that we could use to defend the case. As the months went on, the client began to earn more money and were ready to start making mortgage payments again, but they needed a loan modification. Catching up on 2 years’ worth of missed mortgage payments was not realistic but making a reasonable monthly payment was possible.
The next step was to submit a loan modification for the client. Regulation X is a federal regulation that governs mortgage loan servicers. One of the provisions of Regulation X found at 12 C.F.R. 1024.41 gives homeowners the right to be reviewed for loss mitigation, including a loan modification. Everything seems great for the clients to be approved. Their income seemed to be just right, they had a legitimate hardship, and everything looked fine in terms of being approved. Regulation X required that the loan servicer provide an answer on a loan modification request within 30 days of receipt. However, 30 days went by and the servicer never responded. We next sent a follow-up letter reminding the servicer of the obligation to provide a response within 30 days and we afforded them another 10 days before we take action. We received nothing back but radio silence.
The clients were then transferred over to our federal litigation department where we sued the loan servicer in federal court for violating Regulation X but not providing a response within 30 days. Well, the loan modification request never got their attention and the follow up letter we sent never got their attention. However, the federal lawsuit finally woke them up. The federal case ended up setting with the servicer offering the clients a wonderful loan modification and paying all of his legal fees and costs for having to bring the federal lawsuit.
This case study is a perfect example of why a homeowner must choose a law firm with multiple ways of helping people save their homes. Some lawyers do nothing bur foreclosure defense in court and do not do any loan modifications. Other law firms won’t appear in court for homeowners, but will do modification requests. Very few lawyers in Florida are familiar with Regulation X and are ready to sue servicers for those violations. To save these clients’ house, it took 2 solutions. First, we needed to defense the client in court, then we needed to submit a loan modification, and third we needed to sue in federal court. Had this client chosen a law firm that did not offer all 3 of these services, they would not have been put in a position to save their home. At Loan Lawyers, we have a deep understanding of how all solutions necessary to save a home work together, whether foreclosure defense, loan modification, federal litigation, and even bankruptcy.
If you are struggling to save your home, choose a law firm that all of the solutions that you may need to save your home. Call us now for your 100% free consultation with one of our attorneys, We will go through the details of your specific situation and help craft a plan that works best for you and put you in the best position to try to save your home. Call us now at 1-888-FIGHT-13.
Sorry Bank, no taking advantage of Loan Lawyers clients!
Our client came into the office with a pending foreclosure on his home. He had two modifications previously that the mortgage loan servicer botched. It is unfortunately not uncommon for a homeowner to obtain a modification, sign everything, pay everything, and then breathe a sigh of relief only to find out that the mortgage loan servicer made errors in inputting information. Then, the homeowners gets billed incorrectly, the amounts due are not accurate, they get hit with late fees and possibly forced place insurance. So much for that loan modification and breathing easy.
That is exactly what happened with this client. We were able to successfully negotiate a great modification for this client, however, after everything was signed, sealed, and delivered, he began receiving notices that he was behind on the mortgage payments. Then the servicer started tacking on improper fees and for some reason just could not get the loan terms and payments correct. Our client, however, made all of his payments on time each month and did everything that was expected of him. We sent letters and made calls, but to no avail. Every month our client received another mortgage statement with incorrect information and improper fees. So, realizing that the loan servicer did not wake up, we decided to sue the loan servicer for violating the law and regulations designed to prevent issues like this from happening. We have been able to get all of the issue corrected due to our lawsuit, and are now able to negotiate a monetary settlement for the client as well.
If you find yourself in a similar position after a loan modification, please do not wait to get help. We have seen many homeowners try to handle situations like this on their own and they end up in foreclosure. We can assure you that the sooner you get assistance, the better the chances of getting the issues resolved will be. If your bank or mortgage loan servicer is not properly accounting for your payments after a modification, call us right now for your free consultation at 1-888-FIGHT-13. If we find you have a case against your mortgage loan servicer , we may take your case on contingency, which means there would be no legal fees or costs unless we obtain a recovery for you.
Loan Lawyer successful in defeating the judgment holder’s attempt to renew the judgment.
The client came to our office with a lawsuit to renew a 20-year-old judgment that was set for trial the following week. In Florida, a judgment is good for 20 years. This is why you should never ignore a lawsuit. If you ignore a lawsuit, the plaintiff will get a judgment against you that will collect interest for the next 20 years. Even though a judgment is good for 20 years, a judgment holder has the right to file a new lawsuit to renew the judgment for another 20 years! That is where this client’s case was. The judgment holder filed a lawsuit to renew the judgment just weeks before the 20-year expiration. The original judgment was for just over $4,000, but with interest, the client now owed over $14,000! The client hired another attorney to negotiate a payment plan to pay this judgment off. She had the good sense to call us for a second opinion, however. We reviewed the case and realized that this case should be taken to trial, which was set for the following week. One of our trial attorneys, Matthew Bavaro, appeared on behalf of the client at trial and was successful in defeating the judgment holder’s attempt to renew the judgment. This means that the client no longer owed any money on the judgment. That was a substantially better result than making a payment plan to pay off the judgment. This is why you should only hire a trial lawyer if you are being sued. Many of the attorneys who represent debt collectors are not trial attorneys themselves, and they rely on everyone settling. However, once they face a real trial attorney, their case often begins to fall apart. This was a phenomenal result for this client and we are so happy to have been able to assist her.
Money Returned and Settlement Check
The client first contacted our office because their bank account had been garnished and all funds in it seized by a company that they had never heard of. The client had no documents related to the case and no information as to why the funds were taken other than a statement by their bank that the funds were taken pursuant to a Court order. Our office thoroughly investigated the claims of the client and discovered that the client had been sued about an old debt of which they had no knowledge. In fact the case was so old that all records in possession of the Court were destroyed due to age. We continued our investigation and were ultimately able to uncover evidence that the client’s next door neighbor was served with the complaint, not the client. The neighbor never informed our client as to the lawsuit. We discovered that the Court and the creditor had been mailing legal documents to the neighbor for years as to this matter. We notified the creditor of this error and upon their refusal to rectify it, filed a lawsuit against them pursuant to the Fair Debt Collection Practices Act. We also prepared a motion to vacate the judgment and to return the funds taken from our client’s bank account. The Court ultimately ruled in our favor as to our motion, vacating a very old judgment. The creditor later dismissed their case with prejudice. The Client was extremely pleased at the outcome of the case having all their money returned as well as receiving a nice settlement check.
Striking Back at Payday Loan
Nicholas came to Loan Lawyers because he was receiving numerous auto-dialed and/or pre-recorded message phone calls on his cell phone from a debt collector trying to collect on a payday loan he had taken out to pay his bills. The phone calls were causing a major disruption in his everyday life, affecting his ability to work and make a living. Every time Nicholas answered the phone, the caller (debt collector’s agent) would be very rude and would make numerous threats to Nicholas if he did not pay the outstanding balance. At this same time, Nicholas lost a family member and was dealing with a lot of stresses of life. The debt collector ignored Nicholas’s numerous attempts for the debt collector to stop calling his cell phone, while he attempted to get back to work and pay back the loan. Nicholas was unable to escape the phone calls. Every time he would block their number, the debt collector would call again from a new local number. Thankfully, Nicholas found the relief he was looking for from the help of the staff at Loan Lawyers. With Loan Lawyers representing him, Nicholas filed a lawsuit in Federal Court against the debt collector for violation of the TCPA and FCCPA. Nicholas alleged that the debt collector willfully or knowingly violated the TCPA by calling his cell phone with an auto-dialer and/or pre-recorded message without Nicholas’s prior consent.
Under the TCPA, a person can receive $500 in damages for each violation or $1,500 for each violation if the defendant willfully or knowingly violated the TCPA. The matter was resolved, the debt collector waiver the outstanding balance on Nicholas’s payday loan. Nicholas is now able to move on without the burden of the debt collector threatening and harassing him. Nicholas can now move on with his life away from the debt collector’s disrupting phone calls that haunted him thanks to the staff and lawyers at Loan Lawyers.
Loan Lawyers has helped over 5,000 South Florida homeowners and consumers with their debt problems. We have saved over 1,800 homes from foreclosure, eliminated $100,000,000 in mortgage principal and consumer debt, and have collected millions of dollars on behalf of our clients due to bank, loan servicer, and debt collector violations, negligence and fraud. Contact us for a free consultation to see how we may be able to help you.
** Results may not be typical. You may not have as beneficial a result.