Los Angeles Man DOES NOT Kill His Family members When His five Houses Face Foreclosure… Alternatively, He Beats the Banks at their Own Game

Torrance, CA (PRWEB) February five, 2009

America’s gloom and doom attitude is not only depressing, it really is also dangerous and destructive, says distressed property consultant Mike Rockwood whose wife of 35 years is an administrator at Kaiser Permanente Los Angeles. Rockwood believes that now a lot more than ever, folks need to clench their fists tight and beat the technique–not give up!

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“Just 12 months ago,” says Rockwood, “If a guy lost his job or could not make his mortgage payment, it wouldn’t have seemed like the finish of the world… but take a look at what’s going on proper now. This is madness, and worst of all, it’s completely unfounded.”

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Rockwood is best-known for his timely, 60-Minute Loan Modification, workbook that helps families beat their banks and save their properties. Mike himself was facing foreclosure on his family’s residence (he has four children) and all four rental properties he purchased throughout the genuine estate boom of 2004-2007 that has now gone bust.

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“I was hunting at losing every thing,” says Rockwood. “But not for 1 minute did I feel about giving up. Not for 1 second did I think that some Wall Street fat cat or some international hedge fund was going to dictate my family’s financial future…”

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To date, Rockwood has modified mortgages on all five of his properties locking in prices as low as four.25% and saving a total of $ 493,000 in expenditures over the life of his loans. Amazingly, he did all this on his personal with no lawyers or foreclosure counselors to help him. What looked like the worst issue to ever take place has turned into a blessing that could extremely well advantage his family for generations.

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The government-backed bailout that started with Wall Street, according to Rockwood, has now come to Primary Street. Five million Americans face foreclosure in 2009, so it really is no surprise that banks are rolling over and throwing bailout cash back to borrowers in an try to save their own hides.

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An estimated 7,500 loan modification applications are received every day, so the approach generally takes three-six weeks but Rockwood claims that with his technique, the physical application and adhere to-up correspondence can be completed in less than an hour. From there, homeowners cross their fingers, get in touch with their representative once per week, and await the sweet 4-five% interest rate bargains that are being granted to thousands in need to have every single day.

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With loan modification scams and unscrupulous lawyers descending like vultures on underwater home owners, Mike Rockwood has produced it his individual mission to empower men and women to take handle for themselves–to become proactive rather of reactive. It really is going to be a busy year.

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New American Funding Says Banks Placing Rising Value on FICO Scores


(PRWEB) April 13, 2009

Considering that the early 1990s, a FICO score has been a common component of home lending decisions in the United States. Throughout the time of rising house values in the new millennium, the score became less important, as the rise in values served to get several borrowers out of difficulty with payment obligations. Now that home values have come crashing down, banks are as soon as once more putting an enhanced value on FICO scores as a figuring out element for lending choices, says Rick Arvielo, president of New American Funding, a fully delegated FHA lender that performs distressed borrowers via effective write-down negotiations and loan modification activities.

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You want only glance at the statistics to see that the odds of a borrower becoming delinquent on his or her mortgage go up a lot more than 100 occasions from a sub-600 FICO score to a 700-plus score. That is massive! Now the banks are hunting at this data with renewed interest, Arvielo says.

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Even with the help of the Federal Housing Administration — which essentially doesnt acknowledge FICO — major lenders are just refusing to accept borrowers with sub-600 FICO scores, making FHAs want to give financing to these who may otherwise qualify irrelevant.

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I uncover myself puzzled by the telegraphing being accomplished by the industry, which suggests a borrower need to have be in default just before he or she can receive attention from loss mitigation and default prevention possibilities, provided the fact that performing so will destroy your probabilities for a new loan as your all-important FICO will be adversely impaired, Arvielo says. Fannie Maes personal guidance suggests At least two complete monthly payments of principal and interest (P&ampI), taxes, and insurance (or P&ampI only if taxes and insurance are not escrowed) are due and unpaid before a homeowner qualifies for support.

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With all of this taken into account, the outcome is a landscape where an person will likely need to have to destroy his or her credit worthiness in order to receive the interest price reprieve some most desperately want, regardless of intent. That is really a shame!

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FICO credit bureau danger scores are accessible at all 3 main US credit reporting agencies — BEACONsm at Equifax, EMPIRICA

Banks Are Willing To Work With Home owners, Says Law Group

Fort Lauderdale, FL (PRWEB) January 22, 2010

Home owners who are on the verge of facing foreclosures have hope in the type of house loan modification, say American Residential Law Group, the nation’s major loan modification attorney.

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American Residential Law Group is a law firm that advocates for Americans facing bankruptcy, foreclosure, and house mortgage loan modifications.

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“Mortgage businesses and banks are will to operate with home owners facing foreclosure,” says Joel Jacobi, founder and lead attorney for ARLG. “Foreclosure is quite costly to each the bank and the homeowner. No one wins. We perform to delay foreclosure, to renegotiate the mortgage with the bank, so that a homeowner can keep in its property and so that a bank doesn’t have the burden of however an additional foreclosed residence.”

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Jacobi’s law firm requires a exclusive strategy to these loan modifications. “Most loan modifyers had been former mortgage brokers,” he stated. “We are attorneys with 12 years experience protecting homeowners and have been never ever in the business of selling mortgages. Homeowners trust us for that really reason.”

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American Residential Law Group is a highly-regarded loan modification attorney that specializes in foreclosure prevention and litigation. It serves customers across the United States from its offices positioned in Fort Lauderdale, Florida. They can be reached by calling (877) 236-6576 or by visiting arlgnow.com

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IT Community Vows To ‘Name & Shame’ Greedy Banks With Launch Of Loan Modification Ratings Web Portal

Atlanta, GA (PRWEB) May possibly five, 2010

Two IT professionals from Atlanta, GA who were tired of complaining about banks and their targeting of minority neighborhoods with subprime mortages and then dragging their feet on loan modifications decided to do anything about it. The duo created the fixmodifications.com webportal which allows property owners to rate their loan modification banks and community members to find out particulars regarding loan modifications in their impacted states, counties &amp cities.

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The purpose of this voluntary work is to highlight experiences of home owners who are going by means of the process of a house loan modifications. “We encourage property owners to register and answer a couple of quick queries to rate their loan modification encounter with their mortgage banks. Our team will then combine all responses into state, county and city reports showing details of a community’s modification experiences” said project lead K. Anne Abrams. The objective is to highlight and help the banks which are doing an outstanding job and name and shame the banks which are delaying any meaningful negotiation hoping that such delays will outcome in them getting to make no loan modifications in the lengthy run.

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Abrams goes on to say that, “Massive banks have been bailed out inspite of their greed, poor risk management and overall failure to handle their businesses quite properly. It is also well identified that loan originators targeted minority communities with subprime loans even though at least 50% of subprime mortgage holders had been eligible for regular loans, yet despite the aid extended to them, reciprocity is not the order of the day. The foot dragging on loan modifications continues largely impacting targeted minority communities. This delay leaves credit reports ruined, households in limbo awaiting choices, and property owners stressed out as they battle underemployment.

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According to our discussion with some home owners Abrams continues, “modifications which must have taken upto three months are running into as much as 12 months. As time goes on and homeowners make their trial payments, the distinction among the trial payments and the larger subprime monthly payments continue to rack up. Principal is not normally lowered, so on a residence which has lost 30% – 50% of worth, home owners are stuck with an underwater mortgage balance plus a huge balance on their mortgage payments. This new combined liability leaves homeowners with no true benefit at all. Is it surprising that loan modifications as they are currently created are failing?”

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The team’s hope is that by shining a light on these information, the larger community will move to assistance banks which reciprocate and work with homeowners by decreasing principle and/or payment balance and shame banks which continue to punish these hurting the most in this challenging economic climate.

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All responses are entirely anonymous and registration will permit free access to all of reports. Follow this hyperlink for more info http://www.fixmodification.com.

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CGI Launches Loan Modification Service for Banks


Fairfax, Virginia (Vocus) March ten, 2009

CGI Group Inc. (TSX: GIB.A NYSE: GIB), a leading provider of data technologies and business process services, nowadays announced its Loan Modification Service, a company processing service to give banks and loan servicers with the capacity to manage high volumes of loan modifications swiftly and regularly.

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The new Home owners Affordability and Stability Strategy qualifies an estimated 3 – 4 million at-risk American homeowners for mortgage loan modification to stop foreclosure. With tight government oversight and mounting consumer pressure, the job of loan modification presents servicers with several challenges. CGI brings with each other more than 30 years of knowledge in customer credit management and government regulatory compliance and economic accounting capabilities to deliver an integrated, end-to-finish remedy for loan modification operations.

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“Numerous monetary institutions and loan servicers require aid to deal with the surging volume of loan modifications in a timely and suitable manner,” said Donna Morea, President of CGI, U.S. “CGI’s Loan Modification Service helps monetary institutions meet these challenges and hold home owners in their homes, while offering the accuracy, transparency and accountability essential in today’s environment.”

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CGI’s Loan Modification Service delivers the comprehensive infrastructure and assistance sources essential to speedily service big volumes of loan modification requests, minimizing startup time and capital investment making use of a benefits-funded strategy. The service, offered out of CGI’s U.S. enterprise process service centers, includes skilled mortgage and credit staff supported by CGI’s sector-top Enterprise Credit suite of company applications and delivers every single aspect of loan modification operations, including loan evaluation, client interaction and on-going loan modification monitoring. CGI’s hugely automated strategy makes use of optimization strategies and sophisticated selection analytics capabilities to maximize portfolio worth, and decrease losses and recidivism.

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For much more than 30 years, CGI has offered IT, company approach and managed solutions to financial institutions and the U.S. federal government, which includes 24 of the prime 25 banks in the Americas, 17 of the best 25 European banks, and more than 100 U.S. federal government agencies.

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About CGI&#13

Founded in 1976, CGI Group Inc. is a single of the biggest independent information technologies and organization approach services firms in the world. CGI and its affiliated organizations employ around 25,000 experts. CGI provides end-to-end IT and business procedure services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as properly as from centers of excellence in North America, Europe and India. CGI’s annual income run price stands at $ four. billion and at December 31, 2008, CGI’s order backlog was $ 11.4 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are integrated in the S&ampP/TSX Composite Index as properly as the S&ampP/TSX Capped Information Technology and MidCap Indices. Website: http://www.cgi.com.

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Loan Modifaction Expert’s New Guide Exposes The Truth About Negotiating With Banks

Glendale, CA (PRWEB) March 12, 2009

These days millions of homeowners are looking into renegotiating their home loans, and many are choosing to do so on their own.

But going down this path can be difficult, warns Steve Aranda, author of The Complete Guide To Loan Modificaton. Banks have their own best interests at heart – not the consumers – which makes it difficult for homeowners to get a fair deal if they’re not armed with all of the facts.

That’s why Aranda, a loan modification expert, released his new guide, geared towards educating consumers on how to negotiate their own home loan modification.

Here are five things that banks don’t want homeowners to know as they navigate these potentially rough waters:

1) They don’t want you to know what a good offer is.

The White House’s new Making Home Affordable plan does attempt to set some standards. Nonetheless, it’s still difficult to gauge if you’re getting a fair offer – if and when your bank finally puts something in writing.

“It’s safe to say that most people attempting to do their own loan modification are novices,” says Aranda. “Let’s face it, most people own only one home, and haven’t had a lot of opportunity to hone their skills at modification. Your bank knows this. They rely on it.”

According to Aranda, a good modification should always include a long-term reduction in interest rate – a term of at least 30 years – and, when possible, a principal reduction.

The bank will almost always offer homeowners as little as possible to begin with and see if the homeowner accepts their offer. If they do, then the bank has done their job. Websites, and consumer advocate groups like http://www.loanmodificationclub.com, supply homeowners with up-to-the-minute forums to see what people have been able to negotiate. In this way, homeowners can know if they’re truly being offered a reasonable deal, or if the bank is just playing them.

2) Many fees are bogus.

When a homeowner looks at the amount a lender claims that they owe, they are often surprised at how large that number is. If they missed four payments of $ 1,000 each, why don’t they owe $ 4,000? The answer is late fees and penalties. The problem is that all of these types of fees have to be justifiable, and completely spelled out. Because of the sheer magnitude of the volume of loan modification requests that banks are getting today, most don’t take the time to document properly what they’re attempting to collect from homeowners. By filing the correct paperwork, you can guarantee that if those fees were indeed “bogus,” the bank will drop them every time.

3) Most loans have RESPA violations.

Depending on the type of loan a homeowner has, up to 70% of the ones out there just like it have RESPA violations. This means that the Real Estate Standards and Procedures Act (RESPA) was violated when your loan was originated. This gives homeowners recourse up to and including the hypothetical invalidation of the loan itself. To find out if your loan contains any of these types of violations, you can order a forensic review of your original loan documents. These can typically be purchased for between $ 895-$ 1,500 from a credible company. Members of Aranda’s web-based community at http://www.loanmodificationclub.com have access to these types of reports at a discounted rate.

4) Banks don’t want homeowners to know what a qualified written request under Section 6 of RESPA is.

Although it’s common for banks to exhibit what appear to be negligence and/or incompetence when it comes to handling a homeowner’s request for a modification, there’s a way to hold their feet to the fire. By sending a qualified written request under Section 6 of RESPA, homeowners force the banks to respond (and to address these issues within 60 days). With the clock ticking, homeowners move to the front of the very, very long line of other novices who are hoping to work their loan problems out.

5) Principal reductions are possible.

Yes, it’s true that principal reductions are the most difficult thing to achieve when negotiating a loan modification. Some banks, however, would have homeowners believe that they simply aren’t possible; and that just isn’t true. In fact, one of Aranda’s associates recently negotiated a huge principal reduction on behalf of one of his clients.

“It’s a fact that any time we’ve seen a principal reduction for a client, the bank involved originally turned down the proposal,” states Aranda. “The ability to achieve your financial goals is within reach. You just need to be properly equipped before you enter the fight.”

For more detailed information on these and other key steps that homeowners need to follow in order to modify their owns loan successfully, you can log onto http://www.loanmodificationclub.com, a members-only website that provides all the tools needed to modify their own loan, as well as referrals to qualified, credible sources with proven track records for those who seek professional assistance.

Steve Aranda is the author of “The Complete Guide to Loan Modification,” and editor-in-chief of http://www.loanmodificationclub.com and http://www.homerescueclub.com. His books and online communities are committed to helping homeowners succeed at staying in their homes through the negotiation of a loan modification.

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Loan Modifaction Expert’s New Guide Exposes The Truth About Negotiating With Banks

Glendale, CA (PRWEB) March 12, 2009

These days millions of homeowners are looking into renegotiating their home loans, and many are choosing to do so on their own.

But going down this path can be difficult, warns Steve Aranda, author of The Complete Guide To Loan Modificaton. Banks have their own best interests at heart – not the consumers – which makes it difficult for homeowners to get a fair deal if they’re not armed with all of the facts.

That’s why Aranda, a loan modification expert, released his new guide, geared towards educating consumers on how to negotiate their own home loan modification.

Here are five things that banks don’t want homeowners to know as they navigate these potentially rough waters:

1) They don’t want you to know what a good offer is.

The White House’s new Making Home Affordable plan does attempt to set some standards. Nonetheless, it’s still difficult to gauge if you’re getting a fair offer – if and when your bank finally puts something in writing.

“It’s safe to say that most people attempting to do their own loan modification are novices,” says Aranda. “Let’s face it, most people own only one home, and haven’t had a lot of opportunity to hone their skills at modification. Your bank knows this. They rely on it.”

According to Aranda, a good modification should always include a long-term reduction in interest rate – a term of at least 30 years – and, when possible, a principal reduction.

The bank will almost always offer homeowners as little as possible to begin with and see if the homeowner accepts their offer. If they do, then the bank has done their job. Websites, and consumer advocate groups like http://www.loanmodificationclub.com, supply homeowners with up-to-the-minute forums to see what people have been able to negotiate. In this way, homeowners can know if they’re truly being offered a reasonable deal, or if the bank is just playing them.

2) Many fees are bogus.

When a homeowner looks at the amount a lender claims that they owe, they are often surprised at how large that number is. If they missed four payments of $ 1,000 each, why don’t they owe $ 4,000? The answer is late fees and penalties. The problem is that all of these types of fees have to be justifiable, and completely spelled out. Because of the sheer magnitude of the volume of loan modification requests that banks are getting today, most don’t take the time to document properly what they’re attempting to collect from homeowners. By filing the correct paperwork, you can guarantee that if those fees were indeed “bogus,” the bank will drop them every time.

3) Most loans have RESPA violations.

Depending on the type of loan a homeowner has, up to 70% of the ones out there just like it have RESPA violations. This means that the Real Estate Standards and Procedures Act (RESPA) was violated when your loan was originated. This gives homeowners recourse up to and including the hypothetical invalidation of the loan itself. To find out if your loan contains any of these types of violations, you can order a forensic review of your original loan documents. These can typically be purchased for between $ 895-$ 1,500 from a credible company. Members of Aranda’s web-based community at http://www.loanmodificationclub.com have access to these types of reports at a discounted rate.

4) Banks don’t want homeowners to know what a qualified written request under Section 6 of RESPA is.

Although it’s common for banks to exhibit what appear to be negligence and/or incompetence when it comes to handling a homeowner’s request for a modification, there’s a way to hold their feet to the fire. By sending a qualified written request under Section 6 of RESPA, homeowners force the banks to respond (and to address these issues within 60 days). With the clock ticking, homeowners move to the front of the very, very long line of other novices who are hoping to work their loan problems out.

5) Principal reductions are possible.

Yes, it’s true that principal reductions are the most difficult thing to achieve when negotiating a loan modification. Some banks, however, would have homeowners believe that they simply aren’t possible; and that just isn’t true. In fact, one of Aranda’s associates recently negotiated a huge principal reduction on behalf of one of his clients.

“It’s a fact that any time we’ve seen a principal reduction for a client, the bank involved originally turned down the proposal,” states Aranda. “The ability to achieve your financial goals is within reach. You just need to be properly equipped before you enter the fight.”

For more detailed information on these and other key steps that homeowners need to follow in order to modify their owns loan successfully, you can log onto http://www.loanmodificationclub.com, a members-only website that provides all the tools needed to modify their own loan, as well as referrals to qualified, credible sources with proven track records for those who seek professional assistance.

Steve Aranda is the author of “The Complete Guide to Loan Modification,” and editor-in-chief of http://www.loanmodificationclub.com and http://www.homerescueclub.com. His books and online communities are committed to helping homeowners succeed at staying in their homes through the negotiation of a loan modification.

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Mitchell J. Stein, Esq.: Monetary Crisis Panels Report Shows Government is Assisting Banks Not Citizens


Hidden Hills, CA (Vocus/PRWEB) February 01, 2011

The recent report by the federal commission on the economic crisis clearly demonstrates how government is allowing banks to evade duty for the crisis and helping banks far more than citizens, according to Mitchell J. Stein, Esq., of MJS Associates.

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“As an alternative of serving the interests of the people, this commission and its meaningless report have completed absolutely nothing far more than serve the banks and institutions like Fannie Mae and Freddie Mac that are responsible for producing the issue:, stated Mitchell J. Stein, Esq., a 25-year award-winning litigator, trial lawyer, financier, and entrepreneur who has represented numerous of the worlds largest companies and has been involved in some of the highest profile circumstances in the Nations history.

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Rather than supply the bipartisan view of the origins of the monetary crisis mandated by Congress, the panel split along partisan lines and released three competing assessments. The report was released simultaneously with two dissenting reports from the Republican minority. The majority report blamed a range of culprits for the economic crisis from overextended home owners to reckless executives and timid regulators, the minority reports on international variables and government intervention into the housing marketplace.

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According to Mitchell J. Stein, Esq., the majority reports conclusions had been vague and meaningless, including findings that human beings, not other elements like nature or technology, have been accountable for the crisis, action and inaction by these human beings was the lead to of the crisis and that the crisis could have been avoided.

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This report is a flimsy attempt by Washington insiders and bankers to keep away from blame and evade duty for the mess they have produced, stated Mitchell J. Stein, Esq. The majority reports conclusions are meaningless and utterly useless.

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The report includes particulars from more than 700 interviews conducted during an 18-month investigation seeking to clarify the housing bubble that ended badly, triggering a international credit crisis and the worst recession in decades. Media coverage integrated details about the interviews, including those with leaders of investment bank Goldman Sachs Group Inc., government regulators, particularly present and former officials at the Federal Reserve, and executives such as former Countrywide Financial Corp. Chief Executive Angelo R. Mozilo, who final year agreed to spend a record $ 22.five-million fine to settle a government fraud lawsuit over the lender’s near-collapse. Coverage of the report in the Los Angeles Occasions also indicated that Mozilo told the panel he got swept up in a “gold rush” mentality that had taken over the nation.

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It is outrageous that the Commissioners permitted Mr. Mozilo to pass the blame onto citizens without having clearly identifying the leading injurious role he and Countrywide played in damaging our economy and hurting millions of home owners, mentioned Mitchell J. Stein, Esq.

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According to the Los Angeles Instances, the majority report concluded that “a crisis of this magnitude can’t be the function of a handful of bad actors” and ascribed duty to each organizations and people in company and the government.

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We agree with the minority reports that blame ought to be focused on intervention in the housing industry including assistance for Fannie Mae and Freddie Mac and that this report was part of a partisan approach created to make predetermined final results, so its conclusions are inconsequential said Mitchell J. Stein, Esq. It is ironic that soon after all the pain inflicted on our citizens by the economic meltdown, this commission’s investigation and report is just yet another instance of Washington waste.

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According to Mitchell J. Stein, Esq., there is constantly a silver lining to the black cloud. “For a lot more than two years for the duration of this meltdown, my mantra has been distinct that I by no means expected the federal government to take duty. I in no way anticipated the banks to take responsibility, although I need to admit after the government doled out the first trillion dollars of TARP funds I believed — if only for a second — that aid was on the way. Then I woke up from my a single-second dream into the nightmare of dealing with criminals, liars and persons forging documents. Having represented these very same banks and their governmental partners for years, I was and am unwilling to enable my customers to turn out to be an additional statistical imbecile who goes by way of the Bank drill of submitting economic info to the bank and then resubmitting it and then resubmitting it and then resubmitting it and then resubmitting it. I have never ever carried out, and nor shall I now do, ‘loan modifications’ simply because that is a term created up by banks to get time until the wave of public sentiment against banks has subsided. So what is the very good news, asked the Doberman? Nicely get ’em in Court,” stated Mitchell J. Stein, Esq.

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ABOUT MITCHELL J. STEIN &amp ASSOCIATES&#13

Mitchell J. Stein &amp Associates is a California-primarily based law firm founded by M.J. Stein, Esq. a 25-year award-winning litigator, trial lawyer, financier, and entrepreneur who has represented a lot of of the worlds biggest companies and has been involved in some of the highest profile situations in the Nations history. The Firms philosophy is primarily based on the belief that their clientele demands are of the utmost importance and, as a outcome, a higher percentage of the Firms business has been from repeat consumers and referrals. The Firms practice areas include Complex Litigation, Bank Problems, Mergers &amp Acquisitions, Industrial and Residential Foreclosures , and Bankruptcy Litigation. Mr. Stein is also the founder of VIPS Foundation (Victims of Injustice Discomfort and Suffering), via which victims nationwide, over the final 15-years, have received help following unfortunate events that subjected them to oppression or mistreatment. In that regard, Mr. Stein received the inaugural Mitchell J. Stein Benefactor Award from the National Organization for Victims Assistance (NOVA) for his perform in guarding victims rights. Go to http://www.mjsteinassociates.com or http://www.dobielaw.org for a lot more info.

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Actual Estate Agent Forces Banks to Minimize Loan Balances on Investment Properties Via True Estate Cramdown Process

Scottsdale, AZ (PRWEB) March 28, 2011

A real estate cramdown process may take over a year, and was in a position to force the banks and lenders to minimize loan balances making a principal reduction of the loan so you could maintain the investment properties with a crammed down new loan balance reflecting today’s current marketplace values.

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Robert Highsmith says “if you walk away from a investment house, or foreclose, or do a brief sale, or wait months for a loan modification, you finish up with nothing to show for your difficult operate, except poor credit, while with a forced loan principal reduction or cramdown, you nevertheless may get to hold your investment house, at today’s depression rates, and hold on to see a financial turnaround”.

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United Law Group Welcomes Federal Investigators Contends That Banks Failed the People


Irvine, CA (Vocus) March 12, 2010

United Law Group’s senior managing attorney Robert Buscho commented on the current investigation of alleged loan modification fraud. Served with a federal search warrant, the firm welcomed members of a joint job force to its offices on Thursday morning.

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United Law Group has practically nothing to hide, stated Buscho. Our circumstances are well documented and recorded. We are confident that this investigation will prove that our firm has acted in the very best interests of all of our clientele and are hopeful that it will shed light on the truth of what the banks are doing to the American public.

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Prior to the passage of SB 94 the firm represented home owners in litigation and negotiation efforts with mortgage lenders and servicers. The firm no longer accepts advance fees and has stopped accepting loan modification clientele in compliance with the law. In contrast to some firms that closed their doors following the passage of SB 94, United Law Group continues to service its existing clientele for no further costs.

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We feel passionately about helping individuals and stand by our current consumers, said Buscho. We are carrying out every thing legally attainable to assist our clientele.

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United Law Group filed six separate extensions to stop foreclosure proceedings against one client who retained the firm more than a year ago. The firm received word final month that the client was presented a trial modification. An additional single father waited more than 11 months even though the firm negotiated on his behalf. The trial modification supply came although he was working overseas and the firm got the bank to honor the modification offer one month right after it expired. The firm has numerous stories just like these.

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Preserving that it is the banks that in the end benefit when reputable law firms are targeted, United Law Group cites HAMP statistics as proof that the banks are in fact at fault for non-compliance.

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Two years ago the individuals of this nation had been led to believe that the banks have been going help to resolve this crisis, stated Buscho.

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At that time, President Barack Obamas Home Cost-effective Mortgage System (HAMP) gave $ 42 billion of TARP money to banks with a goal of modifying four million mortgages. According to an report published in December 2009, there had been only 650,994 trial modifications supplied and 1,911 .047% of the 4,000,000 targeted permanent modifications completed by the banks.

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“The numbers dont lie, mentioned Buscho. Weve taken the stance of David against the collective Goliath that is the banking industry since we believe that someone has to stand up to those giants and fight for the rights of the individual. We think that the benefits of this investigation will prove after and for all that United Law Group is here to keep and right here to aid people and households who had been let down by the banks empty promises.

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About United Law Group&#13

United Law Group represents customers in complicated litigation regarding abusive banking practices, breaches of contract and violations of state and federal laws. United Law Group also litigates instances involving bankruptcy, IRS settlements and debt settlements in state and federal courts across the nation. Employing a team of prime-notch attorneys, United Law Group leverages major-edge technologies to manage situations, support investigative efforts and make sure correct, frequent communication with its consumers. The firm is at the moment forming several class action lawsuits.

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