Tag Archives: Predatory

As Economy Worsens, Predatory Loan Modification Firms Come out of Woodwork by the Groves

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Costa Mesa, CA (PRWEB) March 11, 2009

America 1st Assistance Services, http://www.79loanmodification.com, a group of profitable mortgage and banking experts, has launched a low-expense Loan Modification Kit to assist home owners modify their existing property mortgages straight with the bank, avoiding the high price of using a modification firm, typically acquiring more rapidly and better results. Amit Oberoi, President and CEO of America 1st Help Solutions, says dealing straight with your bank in negotiating a loan modification has fantastic advantages but there are nonetheless pitfalls that property owners want to be conscious of.

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“Prior to you get in touch with your lender or bank, you need to be prepared and have your ducks in a row. One particular incorrect statement or incomplete package can price you useful time or mean you will not get the most favorable terms, or even disqualify you from a life changing loan modification,” says Oberoi.

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H. Eugene Fouchia, Vice President at America 1st Support Solutions, says whether or not a homeowner bargains straight with their bank or hires a trustworthy lawyer or loan modification firm, the 1 issue for certain is that the homeowner needs to find out all they can about the loan modification approach and get ready prior to they commence. 1 of the simplest and best techniques to get fully educated and prepared for the modification is to get this kit and do it. It consists of all the types, tools and step by step procedures the attorney’s and loan modification firms use and far more. He adds, the program also involves revised decrease financing possibilities for a lot of other property owners who have sacrificed to remain existing on their mortgages.

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Prior to you make contact with your lender or bank, you require to be ready and have your ducks in a row. 1 wrong statement or incomplete package can price you useful time or imply you will not get the most favorable terms, or even disqualify you from a life changing loan modification

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“Home owners should act now. Bank loan modification policies are changing daily”

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Contrary to some professional guidance, do not jump up and speak to your lender correct away to see what loan modification terms you qualify for. You want to be ready very first with what loan modification you can afford and what loan modification terms are acceptable to you

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“This is excellent news nonetheless, homeowners want to be cautious not to listen to every single piece of tips out there. Property owners should not just call their lender appropriate away to apply for a loan modification,” says Oberoi. Another alternative a lot of struggling homeowners choose, says Oberoi, is to employ an lawyer or loan modification company to do the paperwork and deal with the bank for them. But, says Oberoi, there are some hefty charges associated with this service in the variety of $ 2000-$ 4000.

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What each Oberoi and Fouchia suggest is, just before home owners devote $ 2000, $ 3000 or $ 4000 for a higher priced attorney or modification firm, or worse, contact the bank unprepared and risk getting disqualified for a a single-shot, life changing loan modification, they should get an inexpensive Loan Modification Preparation Kit, accessible at America 1st Support Solutions, http://www.79loanmodification.com.

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About America 1st Support Solutions&#13

American 1st Support Services Inc. is a group of effective mortgage and banking specialists with over 50 years combined knowledge in the mortgage and banking professions. Following observing current predatory modification practices, America 1st Support Services decided to fight back on behalf of struggling home owners by giving them all the tools in 1 cost-effective kit so they can do a full loan modification on their personal, without having possessing to spend thousands of dollars. For info, call 800-762-1867 or pay a visit to http://www.79loanmod.com

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US Loan Auditors Opens New Workplace in Santa Clara to Aid South Bay Victims of Predatory Lending

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Santa Clara, Calif. (PRWEB) June four, 2010

US Loan Auditors, the premier California-primarily based forensic real estate loan auditing firm serving victims of predatory mortgage lending abuse, has opened a new workplace serving the South Bay/Silicon Valley area at 2055 Laurelwood Road, Suite 110 in Santa Clara.

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We are excited to bring our services to the South Bay residents that had been victims of loan abuse and predatory lending, said Shane Barker, one particular of the founders of US Loan Auditors. There are several men and women we can assist in the region and we look forward to partnering with the San Jose/Santa Clara community. Weve already joined the CalAsian Chamber of Commerce.

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Amazingly, earthquakes are not the greatest threat to the Bay Location. An estimated 47,000-57,000 Selection ARM loans with a value of $ 28 to $ 31 billion are located in the Bay Region. The financial threat is most of the loans are anticipated to be recast in the subsequent two years.

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According to data from US Loan Auditors, 19.32 % of all loans originated in the Santa Clara and San Benito Counties between 2004 and 2008 have been so-referred to as Alternative ARM loans that have a history of demonstrated predatory lending and mortgage loan abuse. As of these days, a full 28.36 percent of these loans are now 60 days delinquent or in foreclosure.

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The San Francisco Bay Location is a ticking mortgage time bomb, Barker stated. There are a lot of men and women in the South Bay that can really use our support correct now. Weve created fantastic strides helping people in Sacramento. Were really excited to be in a position to help folks in the Bay Location acquire the legal leverage to fight predatory lenders.

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US Loan Auditors is not a loan modification firm, but instead they help victims of predatory lending abuse investigate their claims by employing the science of forensic accounting. They combine the principles of finance, law, banking and accounting to go soon after the abusive lenders and recover relief for California property owners.

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Hundreds of US Loan Auditors buyers have identified relief from their lenders such as a decreased principal balance on the mortgage, lowering of the interest rate, a decrease in the month-to-month needed payment, stopped creditor harassment and some consumers have been in a position to stop foreclosure proceedings. Of course, the final results may possibly differ and are dependent on the information about an person case.

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Greatest of all, homeowners that really feel they have been taken advantage of by a predatory lender can in fact get an initial consultation from US Loan Auditors at their new South Bay workplace for totally no price.

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US Loan Auditors is committed to not only assisting home owners fight fraud, they are creating a distinction in their neighborhood via their charitable division called the USLA Care Campaign. If you know of a worthy local trigger, please let the USLA Care Campaign know by e-mailing care(at)usloanauditors(dot)com.

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For much more data about US Loan Auditors, or get a cost-free initial consultation for your mortgage loan, please get in touch with (408) 775-7143 or check out them on the internet at http://www.usloanauditors.com.

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Media Make contact with: &#13

Shane Barker &#13

Telephone: 888-55-AUDIT

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Related Loan Modification Services Press Releases

HUD Grant Makes it possible for Chicagos John Marshall Law School to Continue Its Work on Educating Home owners and Lenders on Predatory Property Lending and Property Preservation

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(PRWEB) June 27, 2012

A $ 97,133 grant from the U.S. Division of Housing and Urban Improvement is enabling The John Marshall Law College in Chicago to continue its Fair Lending/Property Preservation Project that trains students, attorneys and lenders on the rights of homeowners beneath the Fair Housing Act. The funding is extending the project for a 10th year.

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A system education John Marshall Law School students about predatory lending will be able to continue into its 10th year thanks to extended funding from the U.S. Department of Housing and Urban Development (HUD).

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The plan created and managed by The John Marshall Law College Fair Housing Legal Assistance Center works with law students and regional housing assistance organizations to give data that might help home owners avoid the pitfalls by way of the protection afforded them beneath the Fair Housing Act.

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The newest HUD grant of $ 97,133 was announced May 17, 2012, said Professor Michael Seng, co-director of the Center.

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It is unfortunate that the problems of predatory lending havent lessened, but by means of our program we are instruction students to be knowledgeable advocates for these who uncover themselves taken benefit of, Seng stated. Obtaining the continued assistance of HUD, as nicely as the City of Chicago and the Department of Community Improvement is producing a distinction for our students, and in turn those who want legal suggestions.

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Seng established a predatory lending system in 2003 in conjunction with Higher Southwest Neighborhood Development when its leaders saw an uptick of poor loans being written for Chicagos Southwest neighborhood housing. Numerous residents located themselves in default, and the development leaders asked Seng for assistance.

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From that 1st initiative, Seng created a Predatory Residence Lending Law class in 2003 for John Marshall students. Considering that then more than 225 students have taken the class to find out the legal ramifications of the predatory lending concern and operate on neighborhood outreach.

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The program continued to develop and today, as the Fair Lending/Property Preservation Project, it includes the classroom component and hands-on training for students so they can determine predatory lending issues. The students function to aid with loan modification applications, help counselors with reviewing modification packages, and inform homeowners of cost-free solutions accessible by means of counseling agencies. Students review home owners economic and house documents alongside housing counselors.

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The HUD grant is enabling John Marshall to:&#13