There is a lot of misinformation in regards to foreclosure defense and loan modifications propagating the media these days. The confusion, crooks and lack of lender help has left many homeowners on Main Street paralyzed in making what would seem like a rational decision.
Many homeowners and consumers are facing situations that are not only placing their credit in jeopardy, but they are also facing legal and tax issues that can have lasting implications that far out weight the short term credit effects.
Many consumers really need an attorney in their corner to protect and defend them against these illegal and fraudulent loan contracts.
Yet, the media says, “Call your lender and mortgage servicer via this friendly sounding 800# that sounds like when you call, there is hope to be found.” These phone lines are manned by armies of friendly lender reps standing with cookies and warm milk to serve while they vigorously fix the toxic mortgage that they had sold you just last a couple years ago.
If you believe that, I know this guy named Bernie and he says if you give him a dollar, he’ll give you three with no questions asked. Want to call him?
This woman said, “Screw that, I am calling an attorney!” And that decision saved her home. Yet, I hear of homeowner every day who “tried” to call their lender for help and what they got was an eviction notice.
A Kansas City woman caused a delay in the foreclosure of her home after claiming she was a victim of an inflated appraisal and fraud.
Sherrita Richardson got her scheduled foreclosure on Monday stopped after getting a reprieve as the lender investigates.
Retired attorney Sid Willens has been helping her and has proposed to buy the home at 60th Street and Swope Parkway for what he believes is its current fair market value.
Richardson has filed a lawsuit against the mortgage broker and seller.
Willens said they misled Richardson and committed fraud in the $93,000 deal in 2004 by using an inflated appraisal and misrepresenting how much money she would put into the deal.
Okay I think I may need and attorney where do I go who do I call
My company is not run by attorneys however we have one. We have an A rating with the Better Business Bureau because we pre-qualify everyone and never take on cases that we cannot modify. To be honest, sometimes even real estate attorneys don’t know a whole lot about loan modification because it is a fairly new phenomenon. However I would tell you to get an attorney if your bank will not communicate with you, or contact a loan modifaction company like mine that does underwriting and pre-qualification for free. That way you don’t waste your money just to find out you can’t modify.
Paula,
I recommend you never use a company that is not a law firm. Many of these ex- mortgage brokers think they can just hire an attorney and they think they are circumventing the law. But the fact is they are breaking the law in many cases.
If you do need a lawyer, find 2-3 and then do 24-48 hours of due dillegence on the attorney and law firm to check their licensing, tack record and to get a second and third opinion.
If it smells like a fish, most likely it’s a rotten shark!!!!!
I actually agree. Too many people are losing what little money they have left to predatory Loan Mod companies. Education is key. Find out as much as you can about ANYONE you choose to represent you. The FTC is NOT playing games anymore, these scams (some are even lawyers) have gotten way out of hand. I even received a robo-call the other day from a ‘supposed’ law firm and the guy’s name didn’t even exist as someone on the California bar.
I’m in Pa., and have a horror story that’s been going on for app. 1 year… too long to go into.
Suffice it to say, I’m ready to lose my home(still have 2 grown children uner-roof), and my mind.
Where do I go now(applied for Loan Mod. 4 times, HEMAP program,still out, and Pres.Obama, stil out)?
Thanks, kindly