Currently viewing the tag: "stop foreclosure"
Analysis of Recent Loan Mod Lawsuits Filed vs. Bank of America
December 18, 2010 by CULIK LAW
The New York Times reports that the attorneys general of both Arizona and Nevada have filed major fraud lawsuits against Bank of America, the largest mortgage servicer in the United States, for its failure to comply with loan modification requirements. The Nevada lawsuit claims that Bank of America misled vulnerable homeowners in numerous ways, including [...]
Continue Reading →Homeowners Need More Lawyers to Help Stop Foreclosure
October 6, 2009 by CULIK LAW
The foreclosure crisis is also a legal crisis, a new study says. When homeowners struggling to pay their mortgages try to find lawyers help them fight to hang onto their homes, many can’t do so, reports USA Today. Hiring a private lawyer to help with the complex proceedings can easily cost $5,000. And legal aid [...]
Continue Reading →Loan Modification Resource – Institute for Foreclosure Legal Assistance
September 23, 2009 by CULIK LAW
As the nation’s foreclosure epidemic continues to worsen, the Center for Responsible Lending has formed the Institute for Foreclosure Legal Assistance (IFLA) to support groups giving legal representation to families facing foreclosure and financial ruin because of abusive subprime mortgages. The National Association of Consumer Advocates will manage the project, which recognizes that one of [...]
Continue Reading →How to Avoid Foreclosure Rescue Scams (FTC video)
September 21, 2009 by CULIK LAW
The Federal Trade Commission has released a video for consumers on how to avoid foreclosure rescue scams. This is extremely useful. Many states are now in the process of prohibiting foreclosure rescue transactions outright. For example, the Massachusetts Attorney General has promulgated 940 CMR 25.02 prohibiting all for-profit foreclosure rescue transactions. Foreclosure rescue (as opposed [...]
Continue Reading →Beware of Loan Modification Scammers (NCLC)
September 9, 2009 by CULIK LAW
The Boston, Massachusetts-based National Consumer Law Center reports in the most recent edition of its newsletter Outlook that: “an aggressive new industry of scam artists is squeezing the last dollars from desperate homeowners.” That is, former mortgage brokers (who were instrumental in creating the foreclosure crisis) and con artists are preying on the need many [...]
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 →How to stop foreclosure, modify your mortgage, reduce your interest rate, and decrease your mortgage payments — Tips from a Massachusetts lawyer. If you are behind on your mortgage payments, your interest rate is about to adjust, or your payments are simply becoming unaffordable, the first thing you need to do is take action. The [...]
Continue Reading →The Mortgage-Servicing Industry’s Checkered Past (AP)
August 5, 2009 by CULIK LAW
AP IMPACT: Gov’t mortgage partners sued for abuses By DANIEL WAGNER (AP) WASHINGTON — Billions of dollars the government is spending to help financially pressed homeowners avert foreclosure are passing through — and enriching — companies accused of preying on the people they’re supposed to help, an Associated Press investigation has found. The companies, known [...]
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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