In Search of the Best Foreclosure Defense Attorneys
Unfortunately, you cannot trust your Mortgage Lender.
We can help get your life back on track, whether by filing a lawsuit, negotiating with your Loan Servicer or filing bankruptcy. Our team of Real Estate Southern California Attorneys will provide you with all of your options and let you know what we recommend.
An experienced Foreclosure Defense law firm like First Recovery Team can file a lawsuit against your lender on your behalf to get the results you want and desperately need. With the pressure created by the filing of a strong lawsuit drafted by the experienced attorneys in California’s own First Recovery Team, the bank might agree to do one or more of the following: pull you out of default status, stop foreclosure proceedings, put you back in good standing with your lender, pay for all or part of your attorney’s fees, and waive the late fees they had charged during the default, among other things.
- Stop Your Foreclosure
- Keep Your Home
- Lower Your Interest Rate
- Reduce some of a mortgage’s principal balance
- Extend the length of the loan.
- Waive Late Fees
- Lower Your Monthly Payments
California Homeowner’s Bill of Rights Law allows for $50,000 for violations plus attorneys fees. Do not let the banks give you the runaround or sell your home without consulting an experienced a Real Estate Attorney and a Bankruptcy Attorney. We have filed hundreds of Foreclosure Defense Lawsuits and maintain a 90% success rate for our clients.
Call 800 501 3265 or fill out the form below to request a free case analysis.
How you got into Default… and how to get out of Default
Homeowners may face financial struggles at one point which could lead to delayed or missed mortgage payments. Many borrowers are under the false impression that partial payments will avoid default and foreclosure. Unfortunately, this is not true. If a borrower is short on just one payment, that is enough for a lender to initiate foreclosure proceedings. The fact of the matter is, if you cannot make FULL payments to your lender WITHIN THE MONTH THEY’RE DUE, making partial payments will lower your bank account but have no effect on the foreclosure proceedings. Only full repayment of all your missed payments plus late fees will stop the foreclosure process. (This is called “Reinstatement.”)
The terrible problem for the borrower is, once you’ve missed several payments, the reinstatement amount becomes too high to pay, and now that your credit is decimated, you’re usually unable to obtain a “bridge loan” to pay off the arrears to your mortgage lender. Over the years, First Recovery Team has had hundreds of homeowners come to us in this stressful predicament.
It is a common misconception that filing bankruptcy is the sole option you have if you are faced with this situation. Chapter 13 bankruptcy, which First Recovery Team specializes in, is indeed a great way to get out of default, avoid foreclosure and get back in good standing with your lender. Another way is by hiring G&S to file a mortgage servicing lawsuit against your Loan Servicer, and with a strongly-drafted complaint, the lenders nearly always agree to give full and fair loan modification reviews among other concessions. In some cases, we’ve had old loan modifications re-instated, new modifications made, or forbearance agreements – where the lender gives you 6-12 months to catch up – drafted as part of the settlement.
Know that having a legal representation certainly gives you that leverage you need, and the access to the people at the bank that can remedy your situation. While the homeowner would need to go through the hours of being shuffled around between departments when calling the Servicer’s “customer nonservice” line, when civil litigation is filed, your attorney at First Recovery Team has direct access to the lender’s attorney. Instead of spinning your wheels, your attorney can get things done. By finding the best real estate lawyer Southern California you can, you have the best fighting chances against losing your home to foreclosure. Our team is equipped with knowledge and expertise on this subject to give you the best option you have. We not only have the courtroom experience, but we have ongoing relationships with the bank attorneys who we have negotiated with in the past.
Our caring and competent Southern California lawyers have helped a number of clients in keeping their properties by looking into every possible option based on their current financial situation. Moreover, we can tell you if a civil lawsuit or bankruptcy is the right option or not. When you meet with one of our knowledgeable attorneys for your initial consultation – the first 30 minutes are free – the attorney will fully analyze your financial situation and tell you whether you would be likely to get a loan modification, if you have a civil lawsuit worth filing, or whether a bankruptcy would be feasible. (With California having one of the country’s toughest mortgage servicing laws, including the Homeowner’s Bill of Rights, most servicers do end up violating the law in one way or another.) In addition, our team of expert real estate Southern California lawyers can advise you when to use the options such as Chapter 7, 11 or 13 Bankruptcy. And our honest attorneys will tell you if the best option would be to sell your home, including short sales – we will give you all of your options and let you decide.
Understand Why Suing Your Lender Makes Sense
When you’ve lost your home to foreclosure, sometimes all is not lost! An experienced Wrongful Foreclosure Attorney like First Recovery Team give you the justice – and money – that you deserve. Various facets of the real estate laws in California that protect homeowners only work when an individual homeowner files a lawsuit against their mortgage lender in State or Federal Court. These laws offer statutory minimum awards which include the attorney’s fees to be paid by the bank in certain cases. We also seek damages for Slander of Credit, Slander of Title, Breach of Contract damages, Negligence, Unfair Trade Practices and more.
Let Our Best Wrong Foreclosure Attorney Inform You of Your Alternatives
There are comprehensive means for a homeowner to explore different alternatives to foreclosure and our wrongful foreclosure lawyer can shed light on this matter. Since the there country has seen one of the biggest foreclosure crisis in the history, several states have already put in place different mediation programs designed to provide struggling homeowners with utmost assistance.
While this is not exactly the case in California now, it has taken measures to pass legislation that pushes loan servicers to seek alternatives prior to filing for foreclosure. For instance, the state enacted the Homeowner Bill of Rights in 3p-13 after the SB 1137 was passed in 2008. Learn how this Bill has helped hundreds of homeowners entangled in the legal battle to keep their homes.
Foreclosures in the State of Southern California
In a this state, foreclosures are considered nonjudicial in nature. This means that lenders are not required to appear before a state court to obtain foreclosure of a certain property. However, homeowners can fight against possible wrongful foreclosure by applying the reforms included in the Bill of Rights for homeowners in California. Despite the absence of a statewide program on mediation, the state has extended the protection given to owners via the SB 1137 Legislation.
This law prohibits any lender to send any Notice of Default to homeowners up until 30 days the servicer managed to contact the borrower and assessed his or her financial condition. This practically means that the lender should exhaust all possible options before sending the said Notice. As per the provisions stated in SB 1137, the lender is also required to communicate directly with the borrower either personally or over the phone to inform him or her of her right to request a meeting. The servicer should likewise remind the homeowner of the opportunity to explore other means prior to resorting to foreclosure.
If the homeowner agrees to a meeting, then they can do so within 14 days. The meeting could also take place over the telephone if deemed more convenient on either end. The said assessment of the financial condition of the borrower can be completed either during the first meeting or during the subsequent meeting. In addition, the servicer is also required to provide the homeowner with a toll-free number given by the US Department of Housing and Urban Development. This is to help the borrower find housing counseling agency that is duly certified by the HUD. If you are one of these struggling homeowners, you may also find it truly helpful to find the best real estate attorney Southern California has to assist you as well.
In the event that the lender of servicer tried to contact the borrower via the phone on several occasions but to no avail, then the servicer should send a certified letter attaching a request for return receipt. The said letter should likewise indicate the toll-free number and should inform the borrower of the possible options to explore foreclosure alternatives.
Aside from being required to exhaust all possible means to contact the borrower, a servicer must also indicated or post a link on its official website on relevant information about ways to avoid foreclosure, the toll-free contact number that any borrower could call if they wish to know more about these options, information on te toll-free number provided by HUD to aid homeowners in searching for housing counseling agency. Moreover, the website of the lender should also feature the different financial documents that are required to be submitted by borrowers when requesting for assistance on exploring foreclosure alternatives.
Be Enlightened on the California Homeowner Bill of Rights
Knowing all of the key mortgage servicing reforms in the Homeowners Bill of Rights in the State of California is the key to stopping foreclosure, or if you have already lost your home, the key to winning tens of thousands or even hundreds of thousands of dollars. These laws are the most powerful protection for homeowners in the entire United States, but they are technical in nature and require experts in the area. First Recovery Team has been there from the beginning, winning some of the first and biggest legal victories in the state, such as the Valbuena vs. Ocwen decision in the California Court of Appeals which is cited by homeowner attorneys all over the state.
The Homeowner’s Bill of Rights was drafted by the Legislature to ensure that every owner has a meaningful and equal opportunity to obtain any and all available options on loss mitigation including loan modification or any of the different alternatives to foreclosure, and First Recovery Team knows how to enforce these powerful laws. Here are four of the important key reforms made by the Bill:
#1. “Dual tracking” prohibited. This means that a servicer was not allowed to pursue foreclosure activity while they are evaluating a loan modification request from a borrower between 1/1/2013 and 1/1/2018.
#2. Any servicer or bank found to be involved in ‘robo-signing’ will receive civil penalties.
#3. Lenders are required to provide all concerned homeowners with a knowledgeable single point of contact during the loss mitigation process.
#4. When loan servicers are found to have violated any of the terms stipulated in the said Bill, a foreclosure auction can be stopped before it happens, and if the sale already occurred, the wrongfully-foreclosed borrower can seek monetary damages. First Recovery Team Law recently won over $200,000 in damages for one of our clients. In addition to these remedies, the courts may also award the borrower with statutory damages which could amount to $50,000 if the violation found was reckless or intentional. In addition, if the attorney wins an injunction to stop the foreclosure auction, the bank can be forced to pay you the amount that you paid us in attorney’s fees & costs.
With the help of an attorney specializing in foreclosure defense, you will be able to understand the intricacies of this Bill’s key reforms. You would know whether filing for bankruptcy, applying for the loan modification, filing a bankruptcy, or exploring different alternatives would be the healthy choice. There are facets of the law which are difficult to understand and only those with advanced industry and law knowledge could help you comprehend your current situation and your needs. In short, First Recovery Team has the experience and the knowledge to give you the leverage you need in the most stressful of times.
How can a Foreclosure Defense Lawyer Assist You?
If you have been lied to by your Mortgage Servicer or the bank has violated your rights during the foreclosure process, an experienced Southern California
real estate law firm such as First Recovery Team can file a lawsuit and obtain a Temporary Restraining Order and Preliminary Injunction, stopping any sale from happening until the lawsuit is legally settled. Typically these pre-sale lawsuits are eventually resolved through a forbearance agreement, loan modification, or some other loss mitigation option such as a short sale or deed in lieu. As mentioned above, the post-sale lawsuits are usually settled for monetary damages, amounts that can be quite sizable. This amount includes the amount of equity that the borrower lost as a result of the wrongful foreclosure, as well as the late fees and other bogus fees and charges. An experienced attorney can review your financial situation and advise you of all your options.
When you meet with one our attorneys, they will analyze your financial situation and your property information and give your a fair appraisal of whether you would even have a chance of being given a loan modification. We know what the banks are looking for. In addition, a real estate attorney specializing in foreclosure defense can shed light on specific facets of the loan modification application process. For example, if you had previously submitted a loan modification application, your new application must contain a documented change in financial circumstances or else the bank can legally refuse to review you new application.
Not understanding the requirements and not being able to get and answer from your lender when you have a question are equally problematic. When you have sued your lender, you do not need to deal with their customer service department at all – no more long waits and frustration with your lender’s “customer non-service!” Communication goes from your attorney directly to the lender’s attorney, which is far more efficient and effective than trying to deal with the purposely under-trained customer service department that caused the whole mess in the first place.
Keep in mind that loan modification has its own complexities, and sadly, not all homeowners facing possible foreclosure are qualified to receive a loan modification. We will analyze your financials and tell you if you have a chance to get a loan modification. Sometimes clients don’t, but then the attorney can advise the client to make changes that would turn them into qualified candidates. For example, adding a renter, even for a short term, can make the difference between keeping and losing your home. Many people solve the problem by inviting a family member to move in and contribute “rent.” Although you can file a restructuring request on your own, we recommend you consult with an attorney. So, see our team of expert real estate lawyers today.