Posts Tagged ‘ foreclosure ’

Sometimes Loan Modification Results In Higher Payments. Attorney Tim McFarlin Offers Advice For Borrowers.

IRVINE, CA (AttorneyNewswire.com) — August 6, 2010 — The intended purpose of a loan modification is to lower monthly mortgage payments for the borrower, usually as an alternative to foreclosure.  This tactic is often preferred over foreclosure because of how expensive a foreclosure can be for the lender.  The reason why loan modifications have...
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Noted Foreclosure Attorney Tim McFarlin Explain New Law That Requires Background Checks For Mortgage Brokers

IRVINE, CA (AttorneyNewswire.com) — July 26, 2010 — California mortgage brokers will have to pass criminal background checks, credit checks, and licensing exams by July 31 before being allowed to work in the state.  California is one of many states that did not previously require mortgage brokers to earn individual licenses, but the move...
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Bank of America Tells Borrower His Loan Modification Attempt is Void, Respected Foreclosure Attorney Tim McFarlin Reacts

IRVINE, CA (AttorneyNewswire.com) — July 23, 2010 — Alin Negrila, a San Antonio, TX resident and Bank of America customer, bought his home just before the economy fell.  When it became difficult for Negrila to make his monthly mortgage payments, he contacted his lender to discuss his options.  Negrila was placed on a forbearance...
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Unions Now Joining the Fight Against Under Performing Lenders, Foreclosure Attorney Tim McFarlin Supports The Position

IRVINE, CA (AttorneyNewswire.com) — July 19, 2010 — Six labor unions in New York, along with New York City Comptroller John C. Liu, recently sent a letter to mega lenders Citigroup, JPMorgan Chase, Bank of America and Wells Fargo that expresses their concern over the lack of effort being made to assist borrowers with...
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Noted Foreclosure Attorney Tim McFarlin Warns Homeowners To Never Transfer Title

IRVINE, CA (AttorneyNewswire.com) — July 13, 2010 — Even though the public has been warned against the types of scams that prey on homeowners facing foreclosure, a large number of those homeowners continue to be made victims by clever thieves posing as loan modification companies.  One tactic used by scammers is to request the...
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California Foreclosure Attorney Tim McFarlin Supports Lawsuits Against Bank of America

IRVINE, CA (AttorneyNewswire.com) — July 8, 2010 — Fifteen residents of Texas are suing mega-lender Bank of America for operating a system of lending that forces homeowners into foreclosure. The fifteen claim that the lender misleads borrowers, prevents modification of loans, and ignores promises to lower payments. Attorneys for the fifteen low income Texans...
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Respected California Real Estate and Foreclosure Attorney Encourages Borrowers To Negotiate With Lenders

IRVINE, CA (AttorneyNewswire.com) — June 23, 2010 — When a person applies for a loan modification, the process can take several months of filling out forms, gathering documents, writing letters, etc.  In order to modify a loan, both lender and borrower have to agree to the new terms, since it would be illegal to...
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