Tag Archives: Owners

Lender Mr. HARP Concerned California Home owners Arent Conscious of Low Refinance Prices for Their Mortgage

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Burlingame, CA (PRWEB) April 26, 2012

A record quantity of people with distressed homes are eligible to refinance under the HARP 2. program. This bodes nicely for homeowners hunting to decrease their rates and reduced the month-to-month mortgage payments. The only difficulty? No 1 appears to know it.

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An informal survey regarding the HARP two. program and its purpose has yielded a rather staggering response: What the heck is HARP two.?

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“Our greatest situation right now is that the possible beneficiaries of this program have no idea that the system exists,” says Mike Chiu, a San Francisco Bay Location mortgage broker.

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According to Chiu, the less stringent stipulations of the HARP two. plan have yielded a quite higher quantity of loan modifications hence far. Those home owners with high LTVs (Loan-to-Value) and much less than stellar credit scores have been in a position to successfully refinance their homes. His perform on the system as a result far has his colleagues referring to him as Mr. HARP for assisting these distressed underwater people.

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“After individuals see the decrease rates, they do not require to be convinced to utilize the plan,” says Chiu.

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There are several approaches to get info and use the system, but some can get property owners greater prices than other people. 1 typical misconception is that property owners should use their current lender to take benefit of the HARP plan. This is not correct, and can in fact leave home owners paying larger rates than necessary.

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“Banks and lenders have the ability to make contact with their clients straight,” says Chiu. “Nonetheless, it would be very sensible to shop about for the very best rates. A lender like me, who has no overlays, can a lot more frequently than not get home owners decrease prices and/or smaller sized closing fees.”

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Yet another issue that property owners should maintain in thoughts is that being declined by the bank does not mean they will not be capable to locate someone who can aid them in refinancing. Given that a lot of banks have to deal with overlays, they at times turn down individuals who qualify for the system. This must not deter property owners from seeking second or third opinions from other brokers and lenders, like Mike Chiu.

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I have experienced several situations therefore far where the bank or other institutions have turned down someone who I was in the end in a position to help successfully refinance, says Chiu. I encourage these men and women, along with anyone else interested in the HARP program, to get in touch with me to see if I can support.

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To get a no obligation quote or take benefit of the system, homeowners can speak to Mike Chiu directly at mike(at)mrharp(dot)com or call him at (855) MR-HARP1. He is at the moment specializing in assisting all California homeowners refinance their properties employing the HARP 2. program.

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Kramer and Kaslow: Quick Sale Approach Leads to “Mental Torture” According to Home owners

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Calabasas, California (PRWEB) June 14, 2011

Philip Kramer, lead lawyer at the Law Offices of Kramer and Kaslow recently commented on new foreclosure stories reported in the New York Occasions. According to a New York Occasions report, Melanie Brown of Teaneck, New Jersey says that dealing with banks for a short-sale or loan modification is mental torture.

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In the write-up, Ms. Brown says she spent more than two and a half years at the hands of bankers and their computerized bureaucracy. They would demand details, and then delay any response, demand and delay, over and over, mentioned Ms. Brown, 42, a school administrator, about her lender, Bank of America, and its Equator software program technique. I got to feel like a mouse that a cat just kept smacking about.

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The New York Instances spoke with the president of the Mortgage Bankers Association in New Jersey, Maria Guillermina Chaux,who readily conceded. It does take place in this market place that even excellent borrowers wind up getting penalized by lenders, said Chaux.

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Philip Kramer, a senior companion at the law firm of Kramer &amp Kaslow comments, The way lenders do enterprise, they are their own worst enemies. Because the different lenders procedures are so byzantine and due to the fact there is no individual who is responsible for a particular property owners circumstance, files get passed about, information gets lost, and the incompetence ruins lives and destroys our economy.

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Far more of Philip Kramers thoughts can be located at the Kramer and Kaslow weblog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior partner of the Law Office of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on organization litigation, and real house matters. He has prosecuted and defended instances for more than twenty five years.

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Mr. Kramer is a licensed genuine estate broker and has spent considerable time providing legal services in connection with true estate problems relating to loan modification and loss mitigation, land use and zoning, environmental issues, easements, building and improvement, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice prior to all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 instances. He has appeared on nationally televised applications with regards to pre-trial procedure and trial method and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer often lectures on a broad spectrum of various legal and company troubles.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization devoted to bringing professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in a lot of businesses. For much more details get in touch with (818) 224-3900 or visit http://kramer-kaslow.com

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Kramer and Kaslow: Mortgage Fraud Strike Force May Support Shield Property owners from Illegal Foreclosure

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Calabasas, CA (PRWEB) June 14, 2011

Philip Kramer, lead attorney for the Law Offices of Kramer and Kaslow weighed in on the creation of the California Lawyer General’s Mortgage Fraud Strike Force. Lawyer General Kamala D. Harris nowadays announced the creation of the California Lawyer General’s Mortgage Fraud Strike Force, staffed by Division of Justice attorneys and investigators charged with protecting innocent home owners and bringing to justice those who defraud them.

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Composed of both civil and criminal enforcement teams, the Mortgage Fraud Strike Force will monitor and prosecute violations at every step of the mortgage method, from the origination of mortgage loans to the advertising of mortgage-backed securities to the investing public.

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“Californians in search of the American dream all as well frequently located a protracted private and legal nightmare,” mentioned Lawyer Common Harris. “Families are losing their houses, whilst these who perpetrated crimes and frauds against them walk free.”

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Philip Kramer, a noted California lawyer and senior partner at the law firm of Kramer &amp Kaslow comments, I am thrilled. My firm, a handful of other people, we have been shouting from the mountain tops about how every single piece of the mortgage procedure from inception to foreclosure is riddled with fraud. It appears like the Attorney Generals workplace has lastly caught on. I welcome them to the battle.

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Much more of Philip Kramers thoughts can be located at the Kramer and Kaslow weblog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior partner of the Law Office of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on enterprise litigation, and real home matters. He has prosecuted and defended instances for more than twenty five years.

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Mr. Kramer is a licensed real estate broker and has spent considerable time providing legal services in connection with real estate problems relating to loan modification and loss mitigation, land use and zoning, environmental problems, easements, building and improvement, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 situations. He has appeared on nationally televised applications with regards to pre-trial process and trial approach and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer often lectures on a broad spectrum of a variety of legal and enterprise problems.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization dedicated to bringing professionalism and civility back into the legal profession. He also serves on many Boards of Directors and serves as an officer in a lot of companies. For more data contact (818) 224-3900 or pay a visit to http://kramer-kaslow.com

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Associated Loan Modification Services Press Releases

HAMP 2015 Extension Date Great News For Millions Of U.S. Property owners – LoanLove.com

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San Diego, CA (PRWEB) June 14, 2013

LoanLove.com is a trusted destination for current mortgage news and professional loan tips. The team at LoanLove.com is devoted to help empower both initial time and seasoned property owners with valuable sources, 1st-class information and connections to leading-rated market experts. Loan Really like recently posted a mortgage news write-up about the not too long ago announced HAMP 2015 extension and how it will benefit struggling property owners.

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Loan Really like reports: The Obama administration has announced a HAMP extension for 2 extra years, by means of 2015. It will be extending its hallmark Producing Property Inexpensive (MHA) initiative until the finish of 2015, hoping the extension will allow more property owners to take benefit of loan modifications which can aid them avoid foreclosure.

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Originally unveiled in 2009 at the height of the monetary crisis, the HAMP (House Affordable Modification Plan) which is element of the bigger Making Home Inexpensive System, was created with the aim of assisting the millions of home owners who had fallen behind on their mortgage payments due to the crisis to avoid otherwise imminent foreclosure. The plan performs by rewriting (modifying) the loan terms, therefore producing the house payments more inexpensive for the borrower. According to data from the U.S. Treasury, homeowners participating in the program have realized median monthly savings of $ 546.

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Even so, this system has but to aid all these that it was designed to assist. According to predictions from the Administration below Obama loan modification with this plan must be capable to offer aid for as several as three to 4 million American home owners so far only a little over 1 million home owners have taken benefit of the loan modification program. This may possibly be due to the strict documentation requirements that originally had to be met by the applicants. Modifications to the system have now streamlined application processes, nevertheless, and applying for the plan is no longer as cumbersome and demanding as it as soon as was.

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But even although the program could be the answer for several property owners who are facing foreclosure, the Loan Love write-up still cautions readers to do their research: Although certainly beneficial to homeowners facing economic troubles, home loan modification can be a complex procedure driven mainly by the lender. Property owners searching for to make sure they receive the very best modification terms can empower themselves by getting an independent evaluation performed on their loan and their financial circumstance. The REST Report presented by Actual Estate Services and Technology is one tool home owners can use to make certain they recognize all their alternatives without having relying solely on info supplied by their lender. For most homeowners,loan modification is a 1-shot deal: Realizing each option can aid property owners get the best terms for their exclusive economic predicament.

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For much more details on the HAMP extension, the REST Report, and other critical loan modification aspects, pay a visit to LoanLove.com for the full news article.

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The Law Offices of Kramer and Kaslow: A New Foreclosure Trend – Home owners Take Banks Home

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Calabasas, CA (PRWEB) June 17, 2011

Philip Kramer, lead lawyer for Kramer Kaslow, recently commented on the New York Times coverage of the reverse foreclosure trend. According to the New York Occasions write-up, a new trend could be starting in the foreclosure crisis: homeowners foreclosing on lenders. The New York Occasions reports, Owners of a house in Florida have engineered a reverse foreclosure against a bank. That makes two so far this year.

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The post says that earlier this year, Patrick Rodgers, a goth and industrial music event promoter in Philadelphia became miffed since his mortgage lender, Wells Fargo, was creating him carry what he deemed excessive insurance on his residence. Making use of the Genuine Estate Settlement Procedures Act to his benefit, he filed suit and wound up with a sheriffs notice authorizing the sale of the contents of a Wells Fargo branch.

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The New York Times reports on another couple who did battle with their lender and won, A couple in Naples, Fla., have foreclosed on a Bank of America branch following the bank managed to foreclose on their property even even though they by no means had a mortgage on it.

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According to reports in The Naples News, Time and elsewhere, Warren Nyerges and his wife paid $ 165,000 in money to purchase the house from the bank, and never ever borrowed against it. But last February, in an apparent case of mistaken house identity, the bank started foreclosure proceedings against them.

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The couple hired a lawyer and the bank action was ultimately abandoned, but the couple then went to court and got a judgment for about $ two,500 in attorneys fees.

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When the bank didnt spend, their lawyer, Todd Allen, showed up at a regional bank branch final week with sheriffs deputies and a moving truck to start cleaning out the constructing. Not extended after, the bank paid them a lot more than $ 5,700, to cover the charges and further expenses.

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Attorney Philip A. Kramer, senior companion at the Kramer&amp Kaslow law firm represents hundreds of consolidated litigation plaintiff clientele who are suing banks for wrongful foreclosure practices. Stories like these are excellent exciting, says Kramer, but its essential to maintain in mind that these minor skirmishes do nothing at all to prevent the huge-scale abuse of home owners by lenders. We can all have a excellent chuckle at this, but we cant drop sight of just how critical it is when strong banking institutions wrongfully try to take peoples properties.

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Much more of Philip Kramers comments can be discovered at the Law Offices of Kramer and Kaslow blog.

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ABOUT PHILIP KRAMER&#13

PHILIP A. KRAMER is the senior partner of the Law Office of Kramer &amp Kaslow, in Calabasas, California. Kramer &amp Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

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Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes commercial litigation and trial advocacy, with a concentration on business litigation, and actual property matters. He has prosecuted and defended situations for over twenty five years.

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Mr. Kramer is a licensed real estate broker and has spent considerable time supplying legal solutions in connection with genuine estate troubles relating to loan modification and loss mitigation, land use and zoning, environmental problems, easements, construction and development, finance, and landlord tenant matters.

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Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has attempted in excess of 200 circumstances. He has appeared on nationally televised programs with regards to pre-trial procedure and trial strategy and has appeared as a guest lecturer on subjects ranging from constitutional law to trial practice, and Mr. Kramer regularly lectures on a broad spectrum of various legal and company problems.

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Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

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Mr. Kramer is also a previous president of the Los Angeles West Inns of Court, a national organization committed to bringing professionalism and civility back into the legal profession. He also serves on many Boards of Directors and serves as an officer in numerous businesses. For much more details get in touch with (818) 224-3900 or check out http://kramer-kaslow.com

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Agency Receives $three Million Grant Award to Assist Home owners Facing Mortgage Delinquency and Foreclosure

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Riverside, CA (PRWEB) June 27, 2011

Springboard Nonprofit Consumer Credit Management is pleased to announce that it is the recipient of a $ 3 million federal grant by means of the National Foreclosure Mitigation Counseling (NFMC) Program administered by NeighborWorks

Capitolshortsale.com Launches Offering Free Legal Suggestions For Underwater Home owners and a Possibility to Win a New iPad 2

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Washington, DC (PRWEB) August 06, 2011

Sadly it is clear that there is no magic bailout on its way to these facing the possibility of foreclosure in the DC location. Lenders and the government continue to roll out new concepts, but none have yet confirmed to offer a big scale resolution. Homeowners must realize that out of necessity the powers that be are focused on macroeconomics and that they should take action themselves. Fortunately property owners who have found themselves underwater on their property loans now have a new resource to tap into.

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The new web site being launched gives region residents with the critical info they require to make an informed choice on whether or not a strategic default, loan modification or brief sale is the proper resolution for them to stop foreclosure. It also promises to provide the resources required to succeed in properly stopping foreclosure in Virginia, Maryland or DC and developing a true, educated program of action that requires into account prospective tax ramifications and future financial goals.

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There can be many traps awaiting those who are not armed with adequate representation and experience. No one particular knows when the bank is genuinely going to foreclose. Sadly the media has misled several with the false sense of safety that they can just quit paying their mortgages and live in their homes for free of charge for years. Some could have gotten away with this, though other people are getting foreclosure notices just 60 days right after becoming delinquent. Dealing with lenders straight can definitely be a mine field. Even if some kind of loan modification or brief sale can be negotiated, if you have not retained a specialist to function on your behalf, a large tax bill or a deficiency judgment could be about the corner.

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This is where the other half of this site comes into play. Founder Brian Gormley, an lawyer, short sale specialist and actual estate broker brings his distinctive blend of solutions to the table for these who need to have it. This may possibly look like an intriguing blend of various hats to wear, but as he points out new alterations in the law now limit the potential of true estate agents to negotiate brief sales. In order to get a fair deal and ideal terms when speaking short sales and stopping foreclosure with lenders, a specialist who will fight for you is essential.

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For the duration of an interview Brian Gormley points out that although the banks, “May possibly have you believe that it is your paperwork causing delays or denial of your requests, more frequently negotiations are held up since of complicated relations servicers have with investors and mortgage insurers, or simply because lenders have inaccurate property valuations or unrealistic expectations of net sales proceeds.”

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These that have utilized Brian and his company Cornerstone Properties and Economic Solutions say the difference is really the energy of contacts and aggressively escalating negotiations to the leading for his consumers.

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Asked about the new trend in strategic defaults Brian answers they sound a lot sexier than they are and that the most critical point all concerned homeowners need to do proper now is to seek out quality legal tips from an professional who can guide them to the best answer for their person scenario.

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These contemplating a quick sale or needing help to quit foreclosure will learn many cost-free resources on the new internet site including the most recent legal developments, data on the firms pro bono loan modification help and the Exactly where In DC? video series. In addition those who check out the website get the likelihood to enter the current iPad giveaway.

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So it is undoubtedly worth checking out the site for the possibility of getting out of debt and walking away with a brand new iPad.

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New Oregon Law Offers A lot more Certainty to Property owners who Brief Sale Their Property

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Portland, OR (PRWEB) August 29, 2011

HB2916 which was not too long ago signed into Law by Oregon State Governor John Kitzhaber will help establish a lot more certainty around seller deficiencies soon after finishing a quick sale of their house, according to John Bacon, a Broker with Keller Williams Realty Portland Premiere. The deficiency, which is the distinction in between the balance owed to a lender and what a property sells, can leave some home owners open to future collection attempts by lenders. It is hoped that the new law will give clarity to the situation since lenders who write off the bad debt with the IRS will not be allowed to pursue homeowners. It will also assist devastated homeowners who may have been faced with filing bankruptcy.

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The hopeful outcome will be far more clarity for Oregonians,” stated Keller Williams Realtor John Bacon. Mr. Bacon contacted State Representative Matt Wingard to see if something could be carried out to aid struggling home owners faced with bankruptcy, foreclosure or quick sale. “With the run up in property values homeowners who fell on challenging occasions had the ability to sell their residence when times got hard but plummeting equity place a lot of hardworking excellent people in a predicament of getting upside down in their home,” stated Mr. Bacon. There have been over 2300 properties in the Portland Metro Region which have sold considering that the nearby A number of Listing Service started tracking Quick Sale data in July 2009. Additionally, there are at present more than 2400 short sale properties actively becoming sold in the Portland Oregon region.

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“We see homeowners who are facing foreclosure attempting to operate out loan modifications and waiting months for what in numerous instances ends up being a denial or really small adjustment in their mortgage payment. In those situations, property owners have a few options left, a single of which is to Short Sale their house,” said Mr. Bacon. John Bacon is continually referring individuals to the governments internet site which provides aid and guidance to struggling homeowners who are having difficulty with their lender and loan modifications. For far more data and help go to http://www.makinghomeaffordable.gov or contact 888-995-HOPE. John Bacon of Keller Williams Realty Portland Premiere has also set up a site for these unable to modify their loan and searching to options to foreclosure. http://www.HomeHelpinOregon.com and can also be reached at 503-625-2588

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A hyperlink to the passed Residence Bill which became effective June 23, 2011 can be discovered right here: http://www.leg.state.or.us/11reg/measpdf/hb2900.dir/hb2916.en.pdf

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76th Oregon Legislative Assembly–2011 Standard Session Enrolled Property Bill 2916&#13

Sponsored by Representative Wingard (at the request of John Bacon) (Presession filed.)&#13

Chapter …………………………………………. An Act&#13

Relating to residual debts following quick sales of residential property and declaring an emergency.&#13

Be It Enacted by the People of the State of Oregon:&#13

Section 1. (1) As utilised in this section:&#13

(a) Borrower signifies an individual who, straight or indirectly and individually or with each other&#13

with one more particular person, is obligated on a actual estate loan agreement, such as but not&#13

restricted to a mortgagor or a grantor, as defined in ORS 86.705.&#13

(b) Lender indicates a individual that tends to make, extends or holds a real estate loan agreement,&#13

like but not restricted to a mortgagee or a beneficiary, as defined in ORS 86.705.&#13

(c) Real estate loan agreement indicates an arrangement among a lender and a borrower,&#13

such as but not limited to a mortgage or a trust deed, by means of which the lender&#13

agrees to extend a loan and the borrower agrees to safe the loan in complete or in portion with&#13

residential property, or an interest in residential property, that is located in this state.&#13

(d) Residential home indicates actual home upon which is situated four or fewer improvements&#13

developed for residential use, one of which a borrower occupies as the borrowers&#13

residence.&#13

(e) Residual debt implies an quantity due on a loan, proof of which exists in a true&#13

estate loan agreement, note, bond, contract or comparable written agreement, that a borrower&#13

is unable to pay out of the proceeds from a sale of the residential house that secures the&#13

loan.&#13

(f) Quick sale signifies a sale of residential house that is subject to foreclosure below&#13

ORS 86.705 to 86.795 or ORS chapter 88 for an amount that is much less than the remaining&#13

amount due on the loan that the residential house secures.&#13

(two) If a lender reports to the Internal Income Service that as a consequence of or in&#13

conjunction with a quick sale of residential home the lender has canceled all or a portion&#13

of a borrowers debt below a actual estate loan agreement and the lender offers to the borrower&#13

written proof of the lenders report to the Internal Income Service, the lender or&#13

an assignee of the lender might not bring an action or otherwise seek payment for the residual&#13

debt following the brief sale.&#13

Section 2. This 2011 Act being essential for the instant preservation of the public&#13

peace, overall health and security, an emergency is declared to exist, and this 2011 Act takes effect&#13

on its passage.

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Related Loan Modification Services Press Releases

Nonprofit Charity Gives Home owners Cost-free Loan Modifications to Steer clear of Foreclosure

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Deerfield Beach, FL (PRWEB) September 22, 2011

Debt Management Credit Counseling Corp. (dmcconline.org), a nonprofit charitable organization (DMCC), announced these days that as portion of its new Foreclosure Prevention Plan it is providing certified home owners cost-free loan modification services. Under this program, DMCC will prepare and submit loan modifications for home owners totally free of charge if an initial assessment indicates that they qualify for a loan modification by means of the Home Inexpensive Modification System (HAMP) or the Home Cost-effective Refinance Plan (HARP), and it is a suggested answer for the homeowner to steer clear of foreclosure. DMCC housing counselors will analyze details offered by the homeowner and provide them a written action plan with suggested solutions to stay away from foreclosure primarily based on their private circumstance and goals. It is crucial that any homeowner who faces such choices understands all their offered alternatives and seeks a remedy from a HUD Authorized Housing Counseling Agency such as DMCC.

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Apart from these who knowingly take portion in mortgage fraud, most homeowners face sudden extenuating situations that force them to cease generating their mortgage payments some of these reasons may possibly be job loss, an illness, a death in the household or even an adjustable rate that has gotten too expensive. DMCC housing counselors can help these buyers steer clear of foreclosure by delivering education and guidance about their obtainable choices, creating this currently overwhelming predicament much a lot more manageable. We talk about every little thing from loan modifications and brief sales to applications that are presently supplied by the government. Our job is to supply the homeowner with the expertise so they can make an informed decision said Stephen Lichtenberger, Operations Manager for DMCC. We create an up to date budget with homeowners, as we think this is a vital step in the process to aid stop the future threat of losing their home by maximizing their finances.

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DMCC housing counselors will evaluation available options with the homeowner and advise the remedy that very best meets their economic predicament. Feasible solutions to avert foreclosure include refinancing, repayment plans, forbearance agreements, loan modifications, brief sales, and reverse mortgages. If a loan modification via the Property Reasonably priced Modification System (HAMP) or the Property Reasonably priced Refinance Plan (HARP) is a viable and desired remedy for homeowner, DMCC will prepare and submit the essential modification documents to the home owners mortgage lender. DMCC supplies this service free of charge of charge, along with personal spending budget counseling and other monetary education, as part of their charitable mission. Debt management plans to help consumers with the repayment of credit card accounts are also accessible. Decrease credit card payments obtainable through debt management plans, combined with budgeting, is an option that may give sufficient relief for homeowners to allow them to afford their month-to-month mortgage payment.

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In order for homeowners to maximize the options offered to them to avoid foreclosure, it is imperative that they seek assistance as soon as they know they will not be able to meet their mortgage payments. Once a mortgage lender commences foreclosure proceedings, numerous possibilities cease to be available. Homeowners wishing to take benefit of this free of charge service ought to contact DMCC at 866-618-3328 Monday via Thursday 9:00am to five:00pm ET or Friday 9:00am to three:00pm ET and ask to speak with a housing counselor.

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About Debt Management Credit Counseling Corp.

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DMCC is a nonprofit 501(c)(3) public charity committed to educating buyers on financial issues and offering personal help to buyers overextended with debt. Education is supplied cost-free of charge to consumers by means of seminars, workshops, a proprietary monetary literacy plan, and a vast array of on the web and printed materials. Free private counseling is offered to customers to recognize the very best alternatives for the repayment of their debt. Consumers interested in speaking with a DMCC certified credit counselor may possibly contact (866) 618-3328 or request assist at dmcconline.org. DMCC is a HUD Approved Housing Counseling Agency, is authorized by the U.S. Trustee to offer bankruptcy counseling and education, and has an A+ rating with the Better Organization Bureau.

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California Law Says Mortgage Fraud Will Not Be Tolerated As Home owners Commence To See The National Mortgage Settlement Is Functioning

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Minneapolis, Minnesota (PRWEB) July 03, 2012

Stepping ahead to lead other states, California lawmakers approve the pending legislation, to write into law much of the national mortgage settlement negotiated this year with the nations top five banks. According to California Department of Justice, CA will become the first state to make the National Mortgage Settlement law, “The Assembly approved the legislation on a 53-25 vote, and the Senate followed by voting 25-13”. The two key bills containing major refinance reform are AB 278 (Eng/Feuer/Mitchell) and SB 900 (Leno/Corbett/DeSaulnier/Evans) and have been thoroughly considered by a legislative conference committee. See attachment for details.

Home Destination has helped many a homeowner through a foreclosure or short sale in the last few years. Today one of her clients believes they are be a victim of banking mortgage fraud and is asking for help on how to proceed.

Jenna Thuening, owner of Home Destination, urges distressed home owners that, “If you are a homeowner struggling to pay your mortgage or facing foreclosure, or if you have already lost your home to foreclosure, it is possible that the National Mortgage Settlement could help you. Not every homeowner will qualify for relief under this settlement. Those who do qualify may receive various forms of relief according to their individual circumstances. Homeowners who may have been wronged shouldn’ give up, taking action may make all the difference in saving a home and stopping one more unnecessary foreclosure.”

California’s new legislation “will require large lenders to provide a single point of contact for homeowners who want to discuss loan modifications. It would prohibit lenders from foreclosing while they consider alternatives to foreclosures. And it would let California homeowners sue lenders to stop foreclosures or seek monetary damages if the lender violates state law. The protections would benefit all California homeowners, not just those whose mortgages are with the five banks that signed the national settlement.”

While banks thought this was too broad, the legislation also imposes a $ 7,500 civil penalty per loan when the lender has filed unverified documents — a practice known as “robo-signing.”

“Passing these key elements of the Homeowner Bill of Rights represents a significant step forward for struggling homeowners,” Attorney General Kamala Harris said in a statement. “These common-sense reforms will require banks to treat California homeowners more fairly and bring more transparency and accountability to their practices in our state. Responsible homeowners will have a better shot to keep their homes.”

Found encouraging to homeowners across the nation, real estate justice was also served in Alabama on June 28th, as reported by The Department of Justice. “A federal grand jury in Mobile, Ala., returned an indictment today against two real estate investors and their company, charging them with participating in conspiracies to rig bids and commit mail fraud, at public real estate foreclosure auctions.”

Mortgage fraud was not tolerated in the case of home owner Lynn Szymoniak either. She is one of six Americans who have successfully been awarded in the national foreclosure settlement. “Finalized earlier this year, as a result of whistleblower suits. In total, they collected $ 46.5 million”, according to the Justice Department. Cnnmoney.com reported on June 2, 2012, “The other five came from within the industry, such as an appraiser who helped the government show that Countrywide Financial had been inflating home appraisals to collect higher claims from FHA. Other whistleblowers exposed banks overcharging veterans who had mortgages guaranteed by the Department of Veterans Affairs.” Szymoniak will get $ 18 million from the governments $ 95 million award in her lawsuit.

We are seeing state governments and judges stand up strong to make mortgage fraud wrongs stop robbing hurting homeowners. Homeowners who could benefit from talking to a Certified Distressed Property Expert, may contact Jenna Thuening today.







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