Posts Tagged ‘ loan modification ’

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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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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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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Wells Fargo Blames Borrowers, Noted California Bankruptcy and Real Estate Attorney Timothy McFarlin Reacts

Wells Fargo Blames Borrowers, Noted California Bankruptcy and Real Estate Attorney Timothy McFarlin Reacts

IRVINE, CA (AttorneyNewswire.com) — July 6, 2010 —  Michael Heid, co-president of Wells Fargo Home Mortgage, recently offered testimony in a hearing conducted by the House Committee on Oversight and Government Reform.  His testimony offered an explanation for the lack of loan modifications his employer has managed to approve since the institution of President...
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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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Respected California Attorney Tim McFarlin Reminds Homeowners That Loan Modification Consultants Are Typically Not Lawyers

IRVINE, CA (AttorneyNewswire.com) — June 11, 2010 — California law strictly forbids attorneys from splitting legal fees with or paying referral fees to loan modification consultants.  Many homeowners facing foreclosure that are drawn in to loan modification companies claiming to have attorneys on staff usually have very little contact with the attorney who should...
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