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San Francisco Predatory Lending - San Francisco Foreclosure Attorney - Bay Area Predatory Lending - Bay Area Foreclosure Attorney
     
Homeowners who want to fight foreclosure do have an option.
Its called suing your bank for loan origination errors, fraud, and wrongful foreclosure.
- When you can't afford your mortgage payments, for have fallen behind on your home loan payments or home mortgage payments, the first thing you should do is see whether you can apply for a mortgage modification.
- Bay Area Loan Modification is a process of working together with your bank to restructure your loan so that the payments are affordable for you and also acceptable to your bank.
- Next, have an audit of your closing paperwork performed, to analyze for potential lending violations.
- If you get a modification under the Hope for Homeowners plan, you can still sue your bank for its fraudulent activities.
Michael Rooney helps homeowners in distress to stay in your home, renegotiate your payments, or sue your bank for damages resulting from predatory lending and wrongful foreclosure. If you are a San Francisco Bay Area homeowner in default or foreclosure, please contact us today to learn what your options may be.
ATTENTION FORECLOSURE CONSULTANTS, MARKETERS, AND BROKERS: PLEASE READ THE CALIFORNIA BAR ASSOCIATION'S ETHICS ALERT ON FORECLOSURE RELIEF ATTORNEYS PRIOR TO CONTACTING ME. http://calbar.ca.gov/calbar/pdfs/ethics/Ethics-Alert-Foreclosure.pdf
How is Michael Rooney Law Office different than "loan modification" companies who are not attorneys?
Michael Rooney Law Office approaches from a legal standpoint, not from that of a REALTOR(R), although he is licensed by the California DRE as a real estate broker. This standpoint is more of an attack strategy, in which we go after the bank for all of the predatory lending and fraud violations that they have committed on your loan. These include TILA, RESPA, common law fraud, Non-Compliance with Civil Code 2923.6, wrongful foreclosure, and more. Non-licensed companies do not have this option. Often, they will simply fill out your application for you and hope for the best. With these so-called loan modification companies, no pressure is put on the bank, whatsoever. They play by the bank's rules, and let the bank stay in control.
However, if your legal rights have been violated, as they are in the large majority of the sub-prime mortgage loans in America, you should fight to get the best result. Threatening to bring the bank to court is far more effective than playing by thier rules.
We make the bank answer:
- for the fact that they didn't disclose essential information to you,
- for the fact that they don't have your note, and have no idea where your payment goes because they are servicing a "loan pool",
- for the fact that they can't prove your loan hasn't been paid by a 3d party, or another mortgage under the "pooling agreement",
- for the fact that the mortgage backed-securities they service were sold before there even was a mortgage to sell in violation of Federal Law,
- and many other legal issues that give you the right to rescind your loan, sue for damages, and demand justice.
LEARN MORE: Click here to Learn ALL ABOUT the TILA and RESPA Disclosures everyone is talking so much about! TILA and RESPA Disclosures.
When the banks realize that you know and can prove these violations**, your likelihood of getting a mutually beneficial settlement increases astronomically. It is in everyone's best interest to modify the loan, keep you in your home, repair your credit, and get on with life.
So why trust the bank that already stung you once not to sting you again?
Contact us today.
** - These statements apply to cases who qualify. Contact MRLO today.
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| Hot Loan Modification Tips:
 1. You still need to prove regular income to your bank.
2. Your bank will consider the ratio of your monthly obligations to your income to determine whether a loan modification will even help you to stay afloat. (Divide: INCOME over OBLIGATIONS. What's your ratio? What can you cut out of the budget??)
3. Be ready to provide all of your loan documentation.
4. Plan ahead. DO NOT WAIT until your house is on the auction block to act! It is highly important to act fast - even before you fall behind on your mortgage payments.
5. Have a fallback plan. If you know that you will not be able to dig your way out financially, then it pays to have an experienced REALTOR(R) list your house in addition to having Michael Rooney negotiate your loan modification. If the bank rejects your application, then you will have to sell to an investor, sell at market value, short sell, or come up with another alternative.
Resources:
ABSOLUTELY ESSENTIAL TILA READING: click here.
LEARN MORE: Click here to Learn ALL ABOUT the TILA and RESPA Disclosures everyone is talking so much about! TILA and RESPA Disclosures.
FUNNY STUFF! Here's an educational slide show to help you understand what has happened with your loan (caution: language) http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cdjsr4fn&skipauth=true
LEARN MORE: Kenneth Andrews's San Diego Predatory Lending: more consumer protection information in Blog format. * The more you know...
READ ARTICLE: Eleven Options for Avoiding Foreclosure in California
LEARN MORE: Neil Garfield's Living Lies Weblog: a superlative consumer advocacy website for victimized homeowners.
Want to know particulars about how many banks modelled their programs? Read HUD's policy letters at:
http://alexandergray.ws/HUDPolicy
ML 2000-05 ... the granddaddy of them all: HUD's loss mitigation program qualifications and policy statement.
ASF Framework: The latest on modification qualifications and policies.
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