Currently viewing the tag: "foreclosure defense"
7 Defenses to Foreclosure in Massachusetts
February 16, 2011 by CULIK LAW
This post provides a brief overview of various defenses to foreclosure available to homeowners in Massachusetts. (Originally posted in abbreviated form by Culik Law here.) 1. Standing to Foreclose – a/k/a “Show Me the Note” For your bank to foreclose, they must be entitled to enforce the promissory note that you signed at the closing. [...]
Continue Reading →Massachusetts Court to Wells Fargo: HAMP Loan Mods are Enforceable
February 1, 2011 by CULIK LAW
Federal Judge F. Dennis Saylor, IV of the Worcester division of the United States Court for the District of Massachusetts has recently denied an attempt by Wells Fargo to dismiss homeowners’ claims against it. The issue was whether the trial loan modifications sent by Wells Fargo to homeowners were enforceable contracts. (Culik Law has a [...]
Continue Reading →In another blow to the banks, the Massachusetts Supreme Judicial Court (the SJC) released its eagerly awaited opinion in the case of U.S. Bank v. Antonio Ibanez. (The case was combined with a separate case presenting the same issue, Wells Fargo Bank, N.A. v. Mark A. Larace.) Ibanez Decision (January 7, 2010) Video of Oral [...]
Continue Reading →Considering Walking Away? Weigh the Impact First
May 28, 2010 by CULIK LAW
Before walking away from a foreclosure or underwater property, carefully consider all available options. The tax and credit score impact could greatly inhibit your ability to make a fresh financial start. While there can be advantages to a short sale or taking a deed in lieu of foreclosure, it is best to weigh these options [...]
Continue Reading →Mortgage Data Makes Trends and Forecast Uncertain
May 20, 2010 by CULIK LAW
“Any way you look at it, extraordinary numbers of people are having trouble paying their mortgage. What is less clear is the extent to which the problem is getting worse, better or is simply holding its own. Data released Wednesday by the Mortgage Bankers Association showed the mortgage delinquency rate rose in the first quarter [...]
Continue Reading →There are a lot of questions I’m getting from my clients here in Massachusetts about the Obama Administration’s Making Home Affordable Modification Program (HAMP). One of the biggest mysteries is what is called “Net Present Value” (NPV) analysis. This is a calculation that loan servicers run on every single loan being evaluated for a HAMP [...]
Continue Reading →Mortgage Loan Modifications for Massachusetts Residents – by an Attorney
September 4, 2009 by CULIK LAW
If you have fallen behind on your monthly mortgage payments and are faced with foreclosure, a mortgage loan modification may be a viable solution. What is a mortgage loan modification? Simply put, it is not a new loan, but an agreement between you and your lender to modify one or more of the terms of [...]
Continue Reading →Untitled Document "I cannot thank you enough for the stellar work you did on my Loan Modification. I tried it myself with no success. You were the expert I needed! You were friendly with me and relentless with the bank. You never lost patience nor spirit. You took it to every level necessary to win. AND WIN WE DID. The Modification you obtained cut over a thousand dollars from my monthly mortgage payment! I can keep my house!" Sincerely yours, Robert N.
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