The Debt Advocacy Center often can help those facing foreclosure to obtain a loan modification or release of personal responsibility for a deficiency judgment. I know this area very well and am working with legislators and regulators to assist those in foreclosure from losing their homes. I am also personally co-counsel in lawsuits against lenders for improper valuation practices that have affected millions of consumers. Especially hard hit are people like you who have suffered the possibility of losing their homes, their hard earned equity and their dignity as a result of the foreclosure crises which has been caused, in large part, by the lending industry.
We Can Help You Modify Your Loan
What we predicted for years: "the perfect storm" has, however, unfortunately occurred. The economy is in shambles and too many people, like you, have been caught in the storm. You, very likely, did not receive an independent appraisal when you made your loan. Not only did you pay for an independent appraisal which you never received, but might have overpaid for a house or lost your equity on a refinance that placed you in a position that led to your current problems. The disclosure of your credit terms and oral representations to may have been misleading and not properly documented, nor might you have had the opportunity to really understand what would happen if rates went up, the market fell apart, or if the value of your home was less than it should have been. Refinancing that were represented as a later solution, never should have been promised.
For many years, we have been involved in efforts to force lenders, brokers, realty agents and appraisers to stop their often unconscionable and unlawful conduct regarding valuation and disclosure practices. With the Advisory Board Members of our former company, Andrew Cuomo, previous Secretary of HUD and presently Attorney General of New York; Jack Kemp, previous Republican nominee for Vice President; and HUD Secretary and William Apgar, formerly Director of the FHA; we petitioned Lenders, Regulators and the GSE's (Fannie Mae and Freddie Mac) to end abusive practices relating to appraisals and other improper practices. We are still very much involved in efforts to compel holders of loans to modify them.
When reviewing the options available to homeowners we came upon the fact that there were either expensive lawyers who, too often, were not knowledgeable in this very specific area of law and/or felt that the only solution was bankruptcy or a reinstatement of the loan with arrearages paid over time. For the great percentage of homeowners, this simply was not a solution. On the other hand were companies who were non lawyers that ranged from "scam artists", incompetents and even those who were compensated by the holders themselves.
Fight Back
Unlike other vendors who approach only the servicer of your loan, which has little reason to modify, and hope only to reinstate your loan with even greater payments than you have today, our approach is much more aggressive and is geared to obtain a real modification that you can afford. Our fees, unlike other companies, are success based. We work only for you; unlike certain providers that actually are paid by the lenders.
Further, the information, file review and sample documents that we are giving you, as informational only, can be used by you or your attorney, where appropriate, to defend and counter sue the lender. In some instances, you might have a cause of action under the Truth in Lending Act (TILA), The Real Estate Settlement Practices Act (RESPA) or other state statutes and common law, to bring against the lender and holder. This approach might or might not win you a judgment against the lender but should usually increase the length of the foreclosure proceeding, keeping you in the house for a longer period within which to find another home or refinance your present one.
Anyone who makes a promise that they can negotiate an acceptable result with your lender is simply not being honest. Some lenders are resolute in their position on foreclosure and sometimes it is just too late to intervene. We make no such promise. We only promise that we will do everything that is legally possible to modify your loan or, if you wish, eliminate a deficiency judgment.
Specialists Who Care
We can, where appropriate, also educate you on how to eradicate most or all of your unsecured debt, credit card debt and improve your credit score, even after a foreclosure.
Until now, there has not existed a company working only for you with a team of attorneys, loan underwriters and negotiation specialists who are acting as your negotiation team. Although not acting as your attorneys, we are governed by the attorneys' Code of Ethics. We are compliant with the laws of all states that have attempted to legislate the conduct of foreclosure consultants.
Take Me To The Evaluation
