Personal Injury Attorney & Personal Injury Lawyer Blog

July 21, 2010

When To Call A Loan Modification Attorney

Filed under: Lawyer — Tags: , , , , , , — Dan Wright @ 1:50 pm

Financial considerations are top priority in just about every household. Financial stability is of increasing concern in this economy. One of the biggest worries is the cost of keeping a home.

So many folks are losing their homes to foreclosure each and every day.

Decrease of income is one of the main reasons countless homeowners are faced with foreclosure.

Having a reliable stream of income is important in preventing or stopping foreclosure. For the recently unemployed this might even mean accepting a job that does not match your prior income, skills, or expertise.

In many instances people are lost about whether or not they should even try stop foreclosure. The fall in home values has many homeowner’s owing more than what their property is now worth.

Making the decision not to stop foreclosure may very well feel like the right decision, but there are some major long term ramifications related to that decision. Leaving your house without trying to stop foreclosure will result in many losses such as the incapability to acquire another loan for a new home, the loss in equity that was built in your existing home and topping the list is losing the house.

One factor most homeowners do not think to consider is the credibility of the mortgage company. Over the past few years a number of mortgage companies have been exposed for shady practices. Contacting a loan modification law firm is a smart step in direction of stopping foreclosure and determining if your mortgage company performed according to the law.

The loan modification law firm will be able to order forensic audits to examine the practices of the company, your current loan contract, and the possibilities of mortgage fraud.

You need not be afraid to fight corrupt mortgage companies in order to stop foreclosure and defend your family’s home.

Call Janian & Associates for a free consultation with a Loan Modification Attorney.

July 19, 2010

Have You Been Served A Foreclosure Notice?

Filed under: Lawyer — Tags: , , , , , , , — Dan Wright @ 2:18 pm

If you are faced with foreclosure you must take fast action and educate yourself about all of your options.

One place you can try for information and guidance is actually HUD (Housing and Urban Development). The counselors at HUD will provide you with various resources and information about the foreclosure process. They can also help you with finding a place to stay if you have to vacate your home.

Another source of help could possibly be through a real estate agent. While it may seem highly improbable, there is a possibility you may be able to sell or even short sale your home to avoid foreclosure.

Your bank might even be inclined to work with you. After all, they have nothing to win by foreclosing on your property. If you have a steady stream of income and can demonstrate an ability to pay, your bank will bend over backwards to try find a way to help you keep your house. Keep in mind, the bank wants to receive payments. If your property forecloses you lose and they lose.

Contacting a legal professional is ideal for legal advise in foreclosure situations. Choose a attorney at law that is experienced in handling foreclosure cases. A loan modification attorney is your best option. They are acquainted with foreclosure and real estate laws and are able to negotiate with mortgage companies on your behalf.

Your lawyer will thoroughly study your loan documents to ensure that no federal laws were violated. Most importantly, your lawyer will be able to detail your options in full detail so that you can make a well informed decision on how to proceed.

Janian and Associates is a Real Estate Litigation law firm committed to leveling the playing field between homeowners and real estate lenders. Their attorneys are recognized for their expertise in the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) and have gained the respect and attention of the lenders for over 27 years.

Call Janian & Associates for a free consultation with a Loan Modification Attorney.

July 18, 2010

Janian & Associates Offers Foreclosure Relief To Homeowners

Filed under: Lawyer — Tags: , , , , , — Dan Wright @ 12:35 pm

The huge 75 billion dollar bailout back in February was supposed to provide funding to help provide foreclosure relief for millions of Americans behind on their mortgages. However, the number of people who have actually been helped by the program is dismal. The government hopes to pressure banks into processing more loan modifications for borrowers.

Since February, a whopping 1,700 borrowers have received new loans under the loan modification program. The poor results are being attributed to the unwillingness of borrowers to submit the paperwork required to apply for the loan modification. It makes you wonder just how long that application is.

More than sixty percent of the people who are believed to qualify for modified loans have not completed all of the necessary paperwork. However, this is only part of the problem. Very few of the people who have turned in their paperwork in full have gotten approved either.

If you do the math, you’ll see there are less than 150,000 people who filled out their applications completely. But out of those, 50,000 have not yet gotten an answer and only 1,700 have been approved. That leaves approximately 98,300. What happened to them? Were all of their applications denied?

In order to try to get more banks to approve modifications, the government has decided to put on their bullying hat. Treasury Department SWAT teams are scheduled to be making visits to lenders next week so they can determine which banks are not making enough loan modifications. Then they will publish a list for everyone to see. I bet the banks’ officers are shaking in their boots over that.

If you are planning on taking advantage of Obama’s loan modification program to save your home, you should consider consulting a loan modification attorney.

Call Janian & Associates for a free consultation with a Loan Modification Attorney.

June 20, 2010

How A Forensic Loan Audit Can Stop Foreclosure

Filed under: Lawyer — Tags: , , , , , , — Dan Wright @ 7:12 am

A great deal of people got caught up in the sub-prime mortgage extravaganza of the last decade because the market was thriving and credit was readily accessible to almost any and everybody. Even those who could not afford a home were suddenly buying homes. As the bottom literally fell out of the real estate market with the great drops in prices and home values many hard working homeowners have found themselves in financial trouble and are in desperate need of mortgage modification.

Not everybody qualifies for a home loan modification. There are various factors that must be measured before lenders will agree to modify a loan.

This is how the forensic loan audit comes into play. Homeowners going through possible foreclosure are urged to get a forensic loan audit to be sure that their mortgage was done properly when originated. If however, violations are found the home homeowner may have the grounds for a loan modification case which could halt foreclosure.

A forensic loan audit team is comprised of very qualified finance and legal pros that carry out a meticulous and comprehensive analysis of a homeowners mortgage documents to pinpoint whether any lender violations took place. The team is specifically searching for missing documents, disclosures, and/or misrepresentations in order to build a case and have the loan terms modified. Fortunately (or unfortunately), with over 80% of mortgages originating between years 2002 and 2008 it is not that tough.

Just the point that your mortgage was originated in this time period certainly does not mean that you are going to instantly qualify for loan modification. Banks would argue that it was your mistake that you neglected to read the fine print and or grasped the mortgage terms totally.

The good news is you have consumer protection laws on your side, and if the mortgage violates them, that mortgage is looked at as illegal.

A forensic loan audit is an fundamental tool for your legal professional to discover these violations, which essentially might make a difference between losing your home to foreclosure and keeping your family safe and sheltered.

Get a forensic loan audit, and free consultation with America’s best mortgage modification service

April 21, 2010

Will I Be Able To Get My PPI Payments Back?

Filed under: Lawyer — Tags: , , , , , , , , , , , , , , — Tom Doerr @ 5:04 pm

If you have taken out a mortgage, personal loan or credit it is almost certain that you were sold payment protection insurance from your lender. PPI ideally covers your ability to repay your debt should you find yourself in difficult circumstances such as injured or unemployed, however, the lenders found a loophole and have been selling PPI to customers who were not eligible for the cover or who did not fit the particulars of the PPI they were sold. If you have paid for PPI you may be entitled to claim this money back. What you may not be aware of is why you could be eligible to claim and why the banks could face a huge wave of payouts

The common misconception is that everyone is eligible for PPI but this is not the case. If you are older than 65, the age of retirement, you would never be entitled to claim PPI as you are likely not in full time employment. If you are self employed you are technically considered a financial risk and no PPI policy would offer to cover you ability to make repayments. If you have a historical medical condition you will be unlikely to be able to get PPI cover as you are more likely to be forced off work. Despite this, banks are more than happy to sell PPI to everyone knowing full well it will never cover them if needed.

Banks and lenders have allowed this situation to continue with full knowledge of the consiquences, this is something that has brought great negative attention from financial watchdogs. The government is forcing many of the UKs high street lenders to offer refunds to their customers although some have adopted a ‘don’t ask – don’t get’ policy meaning the consumer has to go on the hunt for their money either alone or with legal assistance.

The first step to claim back your PPI is to send your bank a letter requesting a full refund. The bank will reply with a long winded ‘no’ to which you will need to duplicate your first letter and in addition declare your intent to pursue legal action and support from the financial ombudsman. They will most likely respond with a variety of answers ultimately dismissing your claim, albeit wrongfully, due to your lack of authority. The key is persistence and it will significantly help your chances if you do get the ombudsman involved. Ultimately if all else fails, enlist professional help.

The easiest way to claim back your PPI is to use a legal agency as they know what they are doing and will be able to take care of everything for you. This will be much more effective than pursuing the matter yourself and will most likely end in success. Many solicitors are no win no fee so there is no disadvantage to using them.

There are many companies that offer or specialise in PPI claims and they are fully capable of taking control of everything you need for your PPI claim

categories: loan,PPI,insurance,bank,mortgage,payment protection insurance,lawyers,soliciters,claims,refund,repayment,lawsuit,sue,finance

April 18, 2010

Could I Have Used My PPI?

Filed under: Lawyer — Tags: , , , , , , , , , , , , , , — Tom Doerr @ 2:34 pm

If you, like millions of Britons, have used a financial product in the last ten years i.e. a personal loan or credit it is guaranteed that you were sold some form of payment protection insurance from your lender unless you confirmed otherwise. The idea of PPI is to act as a back up if you lose your ability to repay your debt by finding yourself in difficult circumstances such as injured or unemployed. But due to certain loopholes, lenders have been selling PPI to customers who were not eligible for the cover or who did not fit the particulars of the PPI they were sold.

Simply by their definition, some people are ineligible for PPI and have still been paying for it, anyone over the age of 65 would not be able to utilise PPI as they are above the age of retirement so anyone who has paid for PPI over this age is legally entitled to a full refund.

You may have a previously documented medical condition, even small but you will be considered a high risk customer and as you are more likely to take time off work on medical grounds you would not be able to claim the insurance. However the banks will tag it on to a service you may buy even if they have a medical record and are fully aware you will have no chance of using the cover.

If you are self employed, regardless of your income, you are technically considered a higher financial risk customer someone employed full time, so you will not be entitled to PPI. However, Banks have no problem adding it on to a service with no intention of paying out if it is needed.

If you have been miss-sold PPI like this or any other way, you are legally entitled to a full refund since the government has cracked down on this activity. You will have to chase the banks for this and it is often easier to enlist a legal professional to do it for you. Even if you have been eligible for PPI, if you need to claim, the chances are that you will have to wait months before your paperwork is even looked at and in most circumstances lenders will put of payments where possible.

There are many solicitors that can handle your PPI claims as due to government legislation it is easier than ever to claim back the money you paid for loan protection.

April 16, 2010

Help For Distressed Homeowners Facing Foreclosure

Filed under: Lawyer — Tags: , , , , , , , — Dan Wright @ 10:12 am

The economy has pushed many hardworking families paying mortgages underwater gasping under the pressure of a foreclosure. It is the all-powerful weapon that terminates all rights of the homeowner thereby abdicating their property to the lending institution. The basis of inability to pay the mortgage may be varying like losing a job, may be a pay decrease due to the failing economy, high interest rates, sudden medical expense or a death of a bread-winner.

Homeowners losing their homes is not an isolated situation and the latest studies points to a whopping 4 million or more this year. The government is trying to pitch in with the Home Affordable Modification program (HAMP).

The question in many homeowner’s mind these days is how to prevent foreclosure.

The preferred available is a loan modification. This helps the homeowner set up a more affordable payment either by lowering the rate of interest or by increasing the term period of the loan. Lenders are not happy when people lose their homes. Lenders make their money by lending money and hence would much rather have mortgage loans paid. Therefore, many lenders are actually eager to work with homeowners to renegotiate a repayment plan to keep people in their homes if and when possible.

The mortgage modification has the concurrence of both borrower and lender to the loan and generally the lender examines the background of the borrower before creating a new or better loan term. The situations that are looked into include the current constraining problem of the borrower, the ability to pay the loan, the amount that is owed, the equity in the property and if future status favors regular payment. There is no doubt that the financial condition of the future will be a deciding factor. The borrower would have to show their mortgage payment history to prove there was a excellent earlier record.

Renegotiating a mortgage is absolutely possible if the borrower effectively conveys their situation through an application and a concise supporting letter that includes the reasons of the present financial trouble and a plan to alleviate the problem. These documents should be supported with income statements and or income tax documents of the borrower.

Save yourself from the ignominy of a foreclosure. Loan modification is the solid alternative for the sunk, there is light at the end of the tunnel.

To learn more information about loan modification services contact Janian and Associates for a free consultation.

April 10, 2010

How A Loan Modification Lawyer Can Help Save The Day

Filed under: Lawyer — Tags: , , , , , , — Dan Wright @ 12:02 pm

Are you facing a financial crisis? Wondering when the economy is going to get better? Are you having sleepless nights upset about whether or not your home is going to be taking away from you, because you are lagging in your mortgage payments? Life is so unpredictable, today you maybe just absolutely fine. But tomorrow you may lose your job or some unforeseen event may change your life forever. This is how and when a loan modification attorney can help save your home!

What is loan modification? A loan modification is a change of the terms of your current mortgage to make your payments more affordable.

What is a loan modification attorney and what do they do? A loan modification attorney is lawyer who practices in real estate transactions, mortgage negotiations, and aspects related to mortgages. Many people do not like or think it is important to hire an attorney to do their loan modification and they think that they can do it themselves; and truth is maybe they can. But the positive with hiring an attorney is they know the laws and are far more experienced and savvy than the average homeowner when it comes to dealing with lenders.

Why do you need a loan modification attorney? With the aid of a loan modification attorney, you can stop foreclosure and keep your home.

You need a loan modification attorney to help you through the restructuring process smoothly. Your lawyer will carefully review your case and will do everything from legal perspective to help you. There are many agencies out there offering similar services. However, experienced lawyers are the ones who usually get the best results. They can calmly talk to your lenders and your lenders will be more cooperative because your attorney uses the law as leverage during negotiations.

For an experienced Loan Modification Lawyer contact Janian and Associates for a free consultation.

categories: loan modification,mortgage,attorney,personal finance,homeowner,loan modification attorney

March 17, 2010

The PPI Con

Filed under: Lawyer — Tags: , , , , , , , , , , , , , — Tom Doerr @ 9:41 am

Consumers should feel secure that their Payment Protection Insurance will cover their debt repayments if something unexpected happens they are covered for, but more and more people are feeling like it is one big con. It has been sold to people who are uninformed borrowers who can’t afford it and even people who want it but don’t know they are ineligible.

PPI is regularly shrewdly tagged on to any loan or credit by most banks and employees are often forced to sell worthless policies in order to maintain their jobs. The idea of PPI is great for borrowers, mostly in the recent economic hard times, when individuals have been becoming unemployed in record numbers, it should mean that a few months unemployed doesn’t mean having no electricity because of loan repayments. In reality it’s quite the opposite; there have been nearly no cases where PPI has actually helped someone struggling to make repayments.

Fortunately justice can be served and banks and lenders who have mis-sold PPI can be held responsible by the everyday consumer. There is a variety of companies who are able to help with financial lawsuits and many companies who specialise in reclaiming PPI payments.

Many people don’t realise the variety of circumstances in which the sale of PPI can be considered illegal, if you were unemployed, self-employed or simply over 65, your PPI payments were void and you can reclaim all the money. If you weren’t explained all the terms, you can claim it back and if you were told you had to buy PPI from your lender, ask for it back!

Although claiming back your PPI is your own responsibility, the Financial Services Authority and the Competition Commission have taken a stance against the dodgy tactics of the industry. They are even slapping fines on any organisation deemed to have broken laws with PPI selling.

In 2009 a watchdog ruled that companies are now required to accurately sell PPI to customers ensuring they are not overpriced, customers can chose to opt out at any time and they are completely covered.

If you think you have been miss sold PPI, then see if Dons LLP can help you with your PPI claim.

categories: Banks,PPI,payment protection insurance,claim,claims,scam,reclaim,lawyers,mortgage,loan,repayment,bank,credit

March 14, 2010

Banks Could Pay Back Over 4bn In Mis-Sold PPI Fiasco

Filed under: Lawyer — Tags: , , , , , , , , , , , , , , — Tom Doerr @ 9:18 am

It is estimated that over 4bn to customers who were fooled into paying for Payment Protection Insurance on a loan, mortgage or credit could be paid by banks and insurance companies. Experts previously estimated that customer who attempted to reclaim the payments could cost banks up to 1.2bn only but this new number includes the additional amount of customers who the banks will be forced to give refunds to.

A huge number of overpriced policies were sold to customers who had no hope of claiming if they needed to. Policies were sold to pensioners, the self-employed and those with long term medical conditions who, by definition, were ineligible for cover.

An approximation by the FSA shows that insurance brokers may have to pay up to 450m with the rest being paid by a variety of PPI suppliers such as banks. The average amount repayable to those who purchased policies is 2000 which is a significant amount and has sparked large consumer interest.

A number of high street banks have already been fined as the FSA attempts to make examples of them as well as forcing them to offer refunds to all of the eligible customers. High street insurance broker ‘The Swinton Group’ have been fined 770,000 for serious failings and were made to offer a full refund to over 350,000 customers while Alliance & Leicester have been fined 7m.

The future sale of policies will be regulated and controlled in a move which is strongly opposed by finance giants. The FSA intends to put a stop to companies pressuring customers into buying useless policies. Adam Phillips, Chairman for the Financial Services Consumer Panel, says “for too long banks have regarded PPI as an easy product to sell and make money without considering whether it is really right for the customer

If you want to make a PPI claim, then visit Dons LLP for the best PPI claims lawyers.

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